Nuclear Imaging Equipment Market To Generate $4,463.7 Million Revenue by 2030

The nuclear imaging equipment market size is expected to advance at a CAGR of 6.0% during 2021–2030, to reach $4,463.7 million by 2030.

The growth of the healthcare infrastructure in developing nations and the rise in the complexities in disease diagnosis and treatment have led players to create cutting-edge equipment that is simple to use. Essentially, the rising prevalence of chronic diseases, such as cancer, neurological diseases, and cardiac conditions, is the key driver for the expansion in the demand for nuclear imaging systems across the world.

Moreover, the shift to hybrid from standalone modalities, improvements in radiotracers, growing emphasis on personalized medicine, growing awareness of the value of early disease diagnosis, and the public and private investments for the modernization of diagnostic imaging centers are driving this market's growth.

The market will also profit from a strong product pipeline, as well as the opportunities in the developing regions. Koninklijke Philips N.V., GE Healthcare, and Cardinal Health Inc. are a few of the major manufacturers of nuclear medicine equipment who are engaging in mergers and acquisitions, strategic alliances, joint ventures, and partnerships to up their share.

Need for Data-Integrated Imaging Systems Is Expanding

Imaging systems with data gathering and interpretation functionalities allow for the analysis and rebuilding of images, identification of medical issues using computers, creation of 3D images, and implementation of the best methods to control the imaging. Moreover, physicians can quickly compare scans to accurately track the disease's course, with the use of data integration.

Clinicians are requesting access to integrated, thorough data on the patient's diagnostic history, in order to successfully develop a treatment plan. There is a big possibility to make data accessible through mobile technologies, which will make it easier for clinicians to view and examine scans from any location. Hence, to meet physicians’ demand for these integrated systems, which offer significant usage convenience, the players are concentrating on developing such systems.

Asia-Pacific Market Is Expected To Develop at Highest Rate

Geographically, Asia-Pacific will have the highest CAGR, over 7%, during the forecast period. The rapid increase in the adoption of nuclear imaging can be linked to the region's high healthcare demand, increasing knowledge of the advantages of early disease diagnosis, and rising incidence of chronic diseases.

Therefore, the increase in the awareness about use of nuclear medicine equipment for the early diagnosis of various type of cancers and the advancements in their technology accelerate the market expansion. The advancements can themselves be credited to the increase in investments by public and private entities to promote research, in order to ultimately improve the field of diagnostics and, further, patient outcomes.

The most-significant nuclear imaging equipment market players are Koninklijke Philips N.V., General Electric Company, Siemens Healthineers, Digirad Corporation, Neusoft Medical Systems Co. Ltd., Canon Medical Systems Corporation, SurgicEye GmbH, and DDD-Diagnostic A/S.