Report Overview

Global Nuclear Imaging Equipment Market is growing owing to the shift from standalone to hybrid modalities, resulting in increased demand for advanced and precise technology for identification and diagnosis of diseases and treatments through radioactive tracers. Moreover, nuclear imaging has emerged as an efficient method of diagnosis due to the increasing incidence and prevalence of chronic diseases such as cancer and cardiac disorders, without any identified underlying causes, unavailable treatment.

Global Nuclear Imaging Equipment Market - Industry Trends & Forecast Report 2028

Global Nuclear Imaging Equipment Market was worth USD 2.7 billion in 2021 and is projected to reach USD 3.9 billion by the year 2028, exhibiting a CAGR of 5.2% during the forecast period. The rapid expansion of the market is predominantly due to the shift from standalone to hybrid modalities. The increasing incidence and prevalence of chronic diseases like cancer and cardiac ailments are increasing the demand for advanced and precise nuclear imaging equipment, which use operational data at the molecular and cellular levels to identify and diagnose diseases and treatments through radioactive tracers. This is also driving the Global Nuclear Imaging Equipment Market growth during the forecast period 2022-2028.

Nuclear Imaging Equipment - Overview

Nuclear imaging is a novel imaging technique that uses small doses of intravenous radiotracers that bind to tumor cells and uses advanced nuclear imaging equipment to diagnose and treat chronic diseases such as cancer, cardiac, gastrointestinal, endocrine, and neurological disorders. These radiotracers are classified as radiopharmaceuticals (or nuclear medicine in simple words) containing radioactive isotopes. Radiotracers consist of a radionuclide, an excited state of the atom which emits energy to change the atom into a stable form and releases a carrier molecule that travels through the body until it comes into contact with its intended target cell or tissue, or organ system.

Global Nuclear Imaging Equipment Market Forecast and Trends

Growth Drivers

Technological Advancements Leading to Shift from Standalone to Hybrid Modalities

The increased awareness of the potential of early and timely diagnosis for the management and treatment of diseases has driven the technological advancements in nuclear imaging equipment, shifting it from standalone to hybrid modalities. The innovation of PET/CT modality has resulted in the success of hybrid PET/CT systems, hybrid PET/MRI, and SPECT/CT systems. These hybrid systems provide precise images with better resolution and morphological and physiological information in just one examination. This is due to the development of cadmium-zinc-tellurium-based detectors, which provide simultaneous viewing of physiological and anatomical structures. For example, in skeletal evaluation, a SPECT/CT system offers accurate localization and improved specificity than the information provided by a CT.

Novel Diagnostic and Therapeutic Radiopharmaceuticals Launch

Globally the research and development in robust diagnostic and therapeutic radiopharmaceuticals are gaining momentum due to the rising demand for radiotracers in nuclear imaging. The countries with a higher burden of patients with chronic diseases will see sophistication in therapeutic applications, which will drive the Global Nuclear Imaging Equipment Market. For example, in August 2021, a distribution agreement between Cardinal Health and IRE-ELiT S.A. led to an expansion in patient access to new radiopharmaceuticals for PET imaging. Around 40 million nuclear medicine procedures are performed each year, and the demand for radioisotopes rises by roughly 5% yearly, according to the World Nuclear Association Analysis 2021.

Increase in Incidence and Prevalence of Cancer, Cardiac and Other Medical Ailments

The nuclear imaging equipment market is driven by the increasing incidence and prevalence of chronic diseases such as cancer, cardiac, gastrointestinal, endocrine, and neurological disorders. Due to technological advancements in nuclear imaging equipment, it is possible to identify, diagnose and treat various diseases with the help of operational data at the molecular and cellular levels. For example, in September 2021, GE Healthcare announced the launch of a novel scanner with a new automated workflow feature that offers an exceptional view of cardiac anatomy and pathology.

Restraints

High Cost of Nuclear Imaging Equipment

Nuclear imaging equipment is an expensive and premium product as they require high investments for installation, which increases the procedural cost for patients as well. Therefore, in developing countries, the adoption rate of novel nuclear imaging systems is affected as most healthcare facilities cannot afford such expensive systems. For example, according to Medical Buyer, in Brazil, the average cost of a PET system is between USD 400,000 and USD 600,000, while a SPECT system would cost between USD 250,000 and USD 400,000. Third-party payers such as Medicare and Medicaid aide healthcare facilities to purchase such costly systems by providing reimbursements for the costs incurred in the diagnostic, screening, and therapeutic procedures. Therefore, the continuous cuts in reimbursements for diagnostic imaging scans and the increasing cost of nuclear imaging systems coupled with the high maintenance costs are expected to hamper the market growth.

Impact of COVID-19 on Global Nuclear Imaging Equipment Market

The Global Nuclear Imaging Equipment market was unexpectedly and negatively impacted during the Covid-19 pandemic. The sudden rise in infections significantly impacted the global availability of hospital resources. The world saw a reduction in the in-patient and out-patient services for other diseases as the implementation of Covid-19 infection prevention and control measures were taken up. The nuclear medicine scans and therapies for identification, diagnosis, and treatment of diseases declined vigorously. This led to a decrease in demand for nuclear imaging equipment such as Positron Emission Tomography (PET) scan, Single-Photon Emission Computed Tomography (SPECT) scan, Planar Scintigraphy Imaging Systems, etc. The shortage of hospital beds, medical staff, and necessary nuclear imaging equipment also affected the Nuclear Imaging Equipment Market. However, in the post-COVID era, the Nuclear Imaging Equipment Market is gradually picking momentum as significant efforts are being taken by healthcare practitioners, governments, and market stakeholders to recover from losses caused due to the pandemic.

Global Nuclear Imaging Equipment Market - By Product

Based on product, the Global Nuclear Imaging Equipment Market is segmented into SPECT Imaging Systems (Hybrid SPECT, Standalone SPECT), PET Imaging Systems, and Planar Scintigraphy Imaging Systems. Amidst the segmentation, the Single-Photon Emission Computed Tomography (SPECT) segment accounted for the largest market share in 2021 as technological advancements are driving a shift from standalone to hybrid modalities. These hybrid systems provide precise images with better resolution and morphological as well as physiological information. On the other hand, the Positron Emission Tomography (PET) segment is expected to grow with the highest CAGR during the forecast period as it enhances the accuracy of nuclear imaging in clinical oncology and diagnosis of brain tumors.

Global Nuclear Imaging Equipment Market - By Application

Based on application, the Global Nuclear Imaging Equipment Market is segmented into cardiology, neurology, oncology, thyroid, lymphoma, bone metastasis, endocrine tumor, and others. Amidst the segmentation, the oncology segment accounted for the largest market share in 2021. This is due to the rising awareness about early cancer diagnosis, initiatives by public and private organizations to limit the risk of cancer, high incidence and prevalence of cancer, development of advanced systems and radiation oncology, and benefits of early cancer treatment. According to WHO, cancer is the leading cause of death due to unhealthy diet, smoking habits, and lack of exercise. On the other hand, the cardiology segment is expected to grow with the highest CAGR during the forecast period due to increasing demand for the diagnosis of cardiovascular diseases. In March 2021, Bracco Diagnostics partnered with CardioNavix to improve the patient reach of the novel cardiac PET imaging system in hospitals, physicians, and diagnostic centers. This will encourage clinical practitioners to prescribe and avail cardiac PET imaging, thereby reducing the upfront cost and risk of business loss.

Global Nuclear Imaging Equipment Market - Regional Insights

Based on regions, the Global Nuclear Imaging Equipment Market has been segmented into five categories- North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Amidst the segmentation, North America dominated the Global Nuclear Imaging Equipment market share in 2021 due to its strong healthcare infrastructure, high volume of nuclear medicine procedures, and increased investment in research and development of nuclear imaging equipment. The Asia-Pacific is estimated to grow at the highest CAGR due to the rising incidence of chronic diseases, growing awareness of the benefits of early disease diagnosis, and improved healthcare systems and infrastructure.

Competitive Landscape

The key players operating in Global Nuclear Imaging Equipment Market are Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Star Equity Holdings, SurgicEye GmbH, Mediso Ltd., Rigaku Corporation (MILabs B.V.), MR Solutions, DDD - Diagnostics A/S, Segami Corporation, Mirion Technologies (Capintec), CMR Naviscan, Positron Corporation, Neusoft Medical Systems, Fujifilm Holdings, Digirad Corporation, Bozlu Holding and other prominent players. The Global Nuclear Imaging Equipment Market is highly fragmented with the presence of several manufacturing companies. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• In November 2021, Siemens Healthineers launched the world’s earliest photon-counting CT scanner, Naeotom Alpha. It is highly superior in all technical parameters associated with image quality and is cleared for all clinical applications in U.S. and Europe.

• In September 2021, GE Healthcare acquired BK Medical, a leader in enhanced surgical imaging, from Altaris Capital Partners for USD 1.45 Billion.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Estimated Year - 2022
	Forecast – 2022 – 2028
Facts Covered	Revenue in USD Billion
Market Coverage	North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy, Spain), Asia-Pacific (China, India, Australia, Japan, South Korea), Latin America (Brazil, Mexico), Middle East & Africa (Saudi Arabia, Turkey, United Arab Emirates, South Africa)
Product Service/Segmentation	By Product, By End User, By Application
Key Players	Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Star Equity Holdings, SurgicEye GmbH, Mediso Ltd., Rigaku Corporation (MILabs B.V.), MR Solutions, DDD - Diagnostics A/S, Segami Corporation, Mirion Technologies (Capintec), CMR Naviscan, Positron Corporation, Neusoft Medical Systems, Fujifilm Holdings, Digirad Corporation, Bozlu Holding and other prominent players.

 

By Product

• SPECT Imaging Systems

  1. Hybrid SPECT

  2. Standalone SPECT

• PET Imaging Systems

• Planar Imaging Systems

By End User

• Hospitals

• Imaging Centers

• Academic and Research Centers

• Others

By Application

• Cardiology

• Neurology

• Oncology

• Thyroid

• Lymphoma

• Bone Metastasis

• Endocrine Tumor

• Others

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Nuclear Imaging Equipment Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Nuclear Imaging Equipment Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
         1. SPECT Imaging Systems
            1. Hybrid SPECT
            2. Standalone SPECT
         2. PET Imaging Systems
         3. Planar Scintigraphy Imaging Systems
      2. By End User
         1. Hospitals
         2. Imaging Centers
         3. Academic and Research Centers
         4. Others
      3. By Application
         1. Cardiology
         2. Neurology
         3. Oncology
         4. Thyroid
         5. Lymphoma
         6. Bone Metastasis
         7. Endocrine Tumor
         8. Others
      4. By Region
         1. North America
         2. Europe
         3. The Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Nuclear Imaging Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By End User
      3. By Application
      4. By Country
         1. United States
         2. Canada
7. Europe Nuclear Imaging Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By End User
      3. By Application
      4. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia Pacific Nuclear Imaging Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By End User
      3. By Application
      4. By Country
         1. China
         2. India
         3. Japan
         4. Australia
         5. South Korea
         6. Rest of Asia Pacific
9. Latin America Nuclear Imaging Equipment Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By End User
      3. By Application
      4. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East & Africa Nuclear Imaging Equipment Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Product
       2. By End User
       3. By Application
       4. By Country
          1. Saudi Arabia
          2. UAE
          3. Turkey
          4. South Africa
          5. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2028
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of Covid-19 on Global Nuclear Imaging Equipment Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Siemens Healthineers AG
    2. GE Healthcare
    3. Koninklijke Philips N.V.
    4. Canon Medical Systems Corporation
    5. Star Equity Holdings Inc.
    6. SurgicEye GmbH
    7. Mediso
    8. Rigaku Corporation (MILabs B.V.)
    9. MR Solutions
    10. DDD - Diagnostics A/S
    11. Segami Corporation
    12. Mirion Technologies (Capintec)
    13. CMR Naviscan
    14. Positron Corporation
    15. Neusoft Medical Systems
    16. Fujifilm Holdings
    17. Digirad Corporation
    18. Bozlu Holding
    19. Other prominent players
14. Key Strategic Recommendations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List Of Figures

 

Figure 1        Global Nuclear Imaging Equipment Segmentation

Figure 2        Global Nuclear Imaging Equipment Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Nuclear Imaging Equipment Market Size, By Value (USD Billion), 2018-2028

Figure 5        Global Nuclear Imaging Equipment Market Share, By Product, By Value, 2018-2028

Figure 6        Global Nuclear Imaging Equipment Market Share, By End User, By Value, 2018-2028

Figure 7        Global Nuclear Imaging Equipment Market Share, By Application, By Value, 2018-2028

Figure 8        Global Nuclear Imaging Equipment Market Share, By Region, By Value, 2018-2028

Figure 9        North America Nuclear Imaging Equipment Market Size, By Value (USD Billion), 2018-2028

Figure 10       North America Nuclear Imaging Equipment Market Share, By Product, By Value, 2018-2028

Figure 11       North America Nuclear Imaging Equipment Market Share, By End User, By Value, 2018-2028

Figure 12       North America Nuclear Imaging Equipment Market Share, By Application, By Value, 2018-2028

Figure 13       North America Nuclear Imaging Equipment Market Share, By Country, By Value, 2018-2028

Figure 14       Europe Nuclear Imaging Equipment Market Size, By Value (USD Billion), 2018-2028

Figure 15       Europe Nuclear Imaging Equipment Market Share, By Product, By Value, 2018-2028

Figure 16       Europe Nuclear Imaging Equipment Market Share, By End User, By Value, 2018-2028

Figure 17       Europe Nuclear Imaging Equipment Market Share, By Application, By Value, 2018-2028

Figure 18       Europe Nuclear Imaging Equipment Market Share, By Country, By Value, 2018-2028

Figure 19       The Asia-Pacific Nuclear Imaging Equipment Market Size, By Value (USD Billion), 2018-2028

Figure 20       The Asia-Pacific Nuclear Imaging Equipment Market Share, By Product, By Value, 2018-2028

Figure 21       The Asia-Pacific Nuclear Imaging Equipment Market Share, By End User, By Value, 2018-2028

Figure 22       The Asia-Pacific Nuclear Imaging Equipment Market Share, By Application, By Value, 2018-2028

Figure 23       The Asia-Pacific Nuclear Imaging Equipment Market Share, By Country, By Value, 2018-2028

Figure 24       Latin America Nuclear Imaging Equipment Market Size, By Value (USD Billion), 2018-2028

Figure 25       Latin America Nuclear Imaging Equipment Market Share, By Product, By Value, 2018-2028

Figure 26       Latin America Nuclear Imaging Equipment Market Share, By End User, By Value, 2018-2028

Figure 27       Latin America Nuclear Imaging Equipment Market Share, By Application, By Value, 2018-2028

Figure 28       Latin America Nuclear Imaging Equipment Market Share, By Country, By Value, 2018-2028

Figure 29       The Middle East & Africa Nuclear Imaging Equipment Market Size, By Value (USD Billion), 2018-2028

Figure 30       The Middle East & Africa Nuclear Imaging Equipment Market Share, By Product, By Value, 2018-2028

Figure 31       The Middle East & Africa Nuclear Imaging Equipment Market Share, By End User, By Value, 2018-2028

Figure 32       The Middle East & Africa Nuclear Imaging Equipment Market Share, By Application, By Value, 2018-2028

Figure 33       The Middle East & Africa Nuclear Imaging Equipment Market Share, By Country, By Value, 2018-2028

 

List Of Tables

 

Table 1         Global Nuclear Imaging Equipment Market Size, By Product, By Value, 2018-2028

Table 2         Global Nuclear Imaging Equipment Market Size, By End User, By Value, 2018-2028

Table 3         Global Nuclear Imaging Equipment Market Size, By Application, By Value, 2018-2028

Table 4         Global Nuclear Imaging Equipment Market Size, By Region, By Value, 2018-2028

Table 5         North America Nuclear Imaging Equipment Market Size, By Product, By Value, 2018-2028

Table 6         North America Nuclear Imaging Equipment Market Size, By End User, By Value, 2018-2028

Table 7         North America Nuclear Imaging Equipment Market Size, By Application, By Value, 2018-2028

Table 8         North America Nuclear Imaging Equipment Market Size, By Country, By Value, 2018-2028

Table 9         Europe Nuclear Imaging Equipment Market Size, By Product, By Value, 2018-2028

Table 10        Europe Nuclear Imaging Equipment Market Size, By End User, By Value, 2018-2028

Table 11        Europe Nuclear Imaging Equipment Market Size, By Application, By Value, 2018-2028

Table 12        Europe Nuclear Imaging Equipment Market Size, By Country, By Value, 2018-2028

Table 13        The Asia-Pacific Nuclear Imaging Equipment Market Size, By Product, By Value, 2018-2028

Table 14        The Asia-Pacific Nuclear Imaging Equipment Market Size, By End User, By Value, 2018-2028

Table 15        The Asia-Pacific Nuclear Imaging Equipment Market Size, By Application, By Value, 2018-2028

Table 16        The Asia-Pacific Nuclear Imaging Equipment Market Size, By Country, By Value, 2018-2028

Table 17        Latin America Nuclear Imaging Equipment Market Size, By Product, By Value, 2018-2028

Table 18        Latin America Nuclear Imaging Equipment Market Size, By End User, By Value, 2018-2028

Table 19        Latin America Nuclear Imaging Equipment Market Size, By Application, By Value, 2018-2028

Table 20        Latin America Nuclear Imaging Equipment Market Size, By Country, By Value, 2018-2028

Table 21        The Middle East & Africa Nuclear Imaging Equipment Market Size, By Product, By Value, 2018-2028

Table 22        The Middle East & Africa Nuclear Imaging Equipment Market Size, By End User, By Value, 2018-2028

Table 23        The Middle East & Africa Nuclear Imaging Equipment Market Size, By Application, By Value, 2018-2028

Table 24        The Middle East & Africa Nuclear Imaging Equipment Market Size, By Country, By Value, 2018-2028

Table 25        Siemens Healthineers AG Company Overview

Table 26        Siemens Healthineers AG Financial Overview

Table 27        GE Healthcare Company Overview

Table 28        GE Healthcare Financial Overview

Table 29        Koninklijke Philips N.V. Company Overview

Table 30        Koninklijke Philips N.V. Financial Overview

Table 31        Canon Medical Systems Corporation Company Overview

Table 32        Canon Medical Systems Corporation Financial Overview

Table 33        Star Equity Holdings Inc. Company Overview

Table 34        Star Equity Holdings Inc. Financial Overview

Table 35        SurgicEye GmbH Company Overview

Table 36        SurgicEye GmbH Financial Overview

Table 37        Mediso  Company Overview

Table 38        Mediso  Financial Overview

Table 39        Rigaku Corporation (MILabs B.V.) Company Overview

Table 40        Rigaku Corporation (MILabs B.V.) Financial Overview

Table 41        MR Solutions Company Overview

Table 42        MR Solutions Financial Overview

Table 43        DDD - Diagnostics A/S Company Overview

Table 44        DDD - Diagnostics A/S Financial Overview

Table 45        Segami Corporation Company Overview

Table 46        Segami Corporation Financial Overview

Table 47        Mirion Technologies (Capintec) Company Overview

Table 48        Mirion Technologies (Capintec) Financial Overview

Table 49        CMR Naviscan Company Overview

Table 50        CMR Naviscan Financial Overview

Table 51        Positron Corporation Company Overview

Table 52        Positron Corporation Financial Overview

Table 53        Neusoft Medical Systems Company Overview

Table 54        Neusoft Medical Systems Financial Overview

Table 55        Fujifilm Holdings Company Overview

Table 56        Fujifilm Holdings Financial Overview

Table 57        Digirad Corporation Company Overview

Table 58        Digirad Corporation Financial Overview

Table 59        Bozlu Holding Company Overview

Table 60        Bozlu Holding Financial Overview