Discover trends, market shifts, and competitive outlooks for the nuclear medicine equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

What Is the Current and Projected Market Size of the Nuclear Medicine Equipment Market Through 2034?

The market size of nuclear medicine equipment has seen consistent growth in the past few years. The market is expected to expand from $2.66 billion in 2024 to $2.81 billion in 2025 with a compound annual growth rate (CAGR) of 5.8%. The growth in the previous years has been due to the increased need for early detection of diseases, rise in the elderly population, expansion in healthcare infrastructure, increased funds for research and development, and a surge in the demand for functional imaging.

In the coming years, the nuclear medicine equipment market is projected to exhibit robust growth. The market value is forecasted to reach $3.49 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.5%. Factors propelling this growth during the forecast period include an increase in cancer cases, the escalating cost of nuclear imaging systems, a heightened emphasis on personalized medicine, the rising adoption of hybrid imaging systems, and growing demand for treatment and diagnostics of Alzheimer’s and Parkinson’s disease. Notable trends for the forecast period consist of technological progress, artificial intelligence integration, hybrid imaging systems, telemedicine, and the advent of compact devices.

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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Nuclear Medicine Equipment Market?

The escalating occurrence of heart disorders is predicted to boost the nuclear medicine equipment market’s evolution in the future. Heart disorders, also referred to as heart or cardiovascular diseases, encompass a wide array of conditions impacting the heart and the circulatory system. These diseases can influence the function and structure of the heart, as well as the blood circulation within. The rising incidence of heart disorders is primarily accredited to aspects like aging population, lifestyle decisions including unhealthy dietary habits and sedentarism, environmental exposure, and enhancements in detection technologies. Nuclear medicine devices play a pivotal role in managing heart disorders by providing precise imaging and diagnostic data facilitating early detection, accurate assessment, and efficient tracking of these illnesses. For instance, the data from the British Heart Foundation, a UK-based heart research charity, revealed that around 7.6 million people in the UK suffered from heart and blood circulation diseases in January 2024, comprising approximately 4 million males and 3.6 million female patients. These diseases accounted for nearly 27% of the total deaths in the UK, equivalent to over 170,000 deaths per year or approximately 480 fatalities daily, i.e., one death in every three minutes. Consequently, this amplified incidence of heart disorders propels the growth of the nuclear medicine equipment market.

Which Segments in the Nuclear Medicine Equipment Offer the Most Growth?

The nuclear medicine equipment market covered in this report is segmented –

1) By Product: Single Photon Emission Computed Tomography, Hybrid Positron Emission Tomography, Planar Scintigraphy

2) By Application: Oncology, Cardiology, Neurology, Other Applications

3) By End User: Hospitals, Imaging Centers, Academic And Research Institutes, Other End Users

Subsegments:

1) By Single Photon Emission Computed Tomography (SPECT): Standalone SPECT Systems, Hybrid SPECT/CT Systems

2) By Hybrid Positron Emission Tomography (PET): PET/CT Systems, PET/MRI Systems

3) By Planar Scintigraphy: Cardiac Imaging Systems, Bone Scintigraphy Systems, Thyroid Imaging Systems

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What Are the Fastest-Growing Geographies in the Nuclear Medicine Equipment Market?

North America was the largest region in the nuclear medicine equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuclear medicine equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Strategic Trends Steering the Nuclear Medicine Equipment Market Direction?

Leading entities in the nuclear medicine equipment sector are concentrating their efforts on the creation of sophisticated products like PET/CT scanners, aimed at delivering in-depth, functional snapshots of the body’s metabolic functions. The PET/CT scanner is a state-of-the-art imaging machine utilized in nuclear medicine that merges two techniques: positron emission tomography (PET) and computed tomography (CT). This dual-function scanner provides both functional and anatomical imaging in a single session, enhancing the accuracy of detection and diagnosis of various conditions by doctors. For example, in June 2024, Siemens Healthineers, a healthcare corporation based in Germany, introduced the Biograph Trinion PET/CT scanner. This PET scanner presents a unique, scalable axial field-of-view design, enabling technological upgrades on-site without the need for expensive room renovations or interruptions to the workflow. It includes a lutetium oxyorthosilicate (LSO) crystal detector providing high spatial resolution and a highly rapid time-of-flight performance of 239 picoseconds, thus improving small lesion detection and ensuring sufficient sensitivity up to 128 cps/kBq. Consequently, it allows for faster scans while lowering patient radiation exposure. Moreover, the Biograph Trinion incorporates a new air-cooled digital detector, making installation simpler compared to the conventional water-cooled mechanisms.

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What Are the Key Elements That Define the Nuclear Medicine Equipment Market?

Nuclear medicine equipment refers to specialized medical devices used in nuclear medicine to diagnose and treat diseases using radioactive substances. These devices capture images of organs and tissues or deliver targeted radiation therapy. Nuclear medicine equipment allows for early diagnosis, treatment planning, and monitoring of various diseases, particularly cancers and cardiovascular disorders.

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