Nuclear Imaging Equipment Industry Is Driven by a Growing Elderly Population

The nuclear imaging equipment market is projected to be worth USD 4,463.7 million by 2030, growing at a CAGR of 6.0%, according to P&S Intelligence.

The industry size is projected to surge mainly because of the elderly populace, growing healthcare prices, and rising requirements for imaging procedures. Furthermore, the growing rate of cancer & heart illness is the key factor driving industry expansion.

The growing traction of hybrid PET/CT medicinal methods has led to a robust interest in hybrid SPECT/CT and PET/MRI systems as well. The SPECT technology had over 50% share in recent years. In comparison to standalone devices, hybrid equipment offers more-precise imageries, with a higher resolution. In a single study, these devices can provide both physiological and morphological data.

For example, the SPECT/CT system allows accurate localization and advanced specificity of the information offered by a CT scan, in the case of skeletal study. Numerous hospitals are progressively shifting from standalone to hybrid equipment because of such benefits.

Some of the current improvements in imaging technology that are related to radionuclide treatment include: A main benefit of PET/MRI over PET/CT is an improved soft tissue contrast, which is essential for post-radionuclide therapy evaluation, treatment planning, and dosimetry.

It is beneficial because it provides the concurrent co-registration of MR pictures, which is vital for correct dosimetry. Moreover, MRI can be utilized to control the radionuclide dose that will reason the least organ harm. Additionally, the gathering of molecular and anatomical images provides better motion correction.

In recent years, on the basis of end-user, the hospital's category held the largest revenue share, approximately 60%. This can be credited to the high occurrence of chronic illnesses, rising public awareness of nuclear treatment, and the shift from solo to hybrid modalities.

Additionally, numerous nations, mainly the U.S. and those in Europe, are making a readiness assessment framework for efficient and smart conducts of utilizing radio medications, so as to offer harmless and effective treatments.

Therefore, majority of the hospitals are concentrating on the treatment of cancer patients, fortified by its high effectiveness and very few side effects. Nuclear imaging is already making a significant contribution in sensing the part of cancer spread in the body.

Additionally, the hospital's category is projected to advance at a significant CAGR, of approximately 7%, in the coming few years, because of the increasing expenditure in nuclear imaging equipment research and development, the growing count of diagnostic establishments, and a high volume of nuclear imaging measures.

Hence, the industry size is projected to surge mainly because of the elderly populace, growing healthcare prices, and rising requirements for imaging procedures. Furthermore, the growing rate of cancer & heart illness is the key factor driving industry expansion.

Nuclear Imaging Equipment Market Size Breakdown by Segment

Nuclear Imaging Equipment Market by Type

SPECT

• Hybrid
• Standalone

Hybrid PET

Planar Scintigraphy

Nuclear Imaging Equipment Market by Application

• Oncology
• Cardiology
• Neurology

Nuclear Imaging Equipment Market by End User

• Hospital
• Diagnostic Center
• Academic & Research Institute

Nuclear Imaging Equipment Market by Region

North America

• U.S.
• Canada

Europe

• Germany
• U.K.
• France
• Italy
• Spain

Asia-Pacific

• Japan
• China
• India
• South Korea
• Australia

Latin America

• Brazil
• Mexico

Middle East and Africa

• Saudi Arabia
• South Africa
• U.A.E.