| Study Period | 2019 - 2032 |
| 2024 Market Size | USD 3.9 Billion |
| 2025 Market Size | USD 4.1 Billion |
| 2032 Forecast | USD 5.7 Billion |
| Growth Rate (CAGR) | 4.9% |
| Largest Region | North America |
| Fastest Growing Region | APAC |
| Nature of the Market | Consolidated |
| Largest End User Category | Hospitals |
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The nuclear imaging equipment market size stood at USD 3.9 billion in 2024, and it is expected to grow at a CAGR of 4.9% during 2025–2032, to reach USD 5.7 billion by 2032.
The market size is expected to increase as a result of the aging population, rising healthcare costs, and surging demand for imaging procedures. Moreover, the increasing rate of cancer and heart disease are the main reasons propelling market expansion.
Nuclear imaging is a modern method that makes use of minute amounts of radiotracers, which are molecules related to those employed by the body’s cells; they bind to tumor cells. A detector measures the amount of radioactive decay from the tracer within the body, to figure out when and where it concentrates, by measuring the amount of the radioactive material absorbed by the target tissue. This method can enhance clinical research, medical diagnosis, and treatment, while also enhancing illness prevention.
The most-common way to administer radiotracers in nuclear medicine is intravenous. They can be taken orally in some investigations. These tracers have no negative effects and are neither dyes nor medications. Typically, a patient only receives a small quantity of radiation during a typical nuclear medicine scan.
The shift from standalone to hybrid modalities, improvements in radiotracers, growing emphasis on personalized medicine, investments made through public–private partnerships to modernize diagnostic centers, and the rising incidence of cancer and cardiac conditions are the main driving factors for the demand for PET and other similar scanners.
The need for better diagnoses is being addressed by advanced healthcare IT solutions. In terms of the clarity and accuracy of the scans, technologically improved devices have surpassed traditional techniques. Over the past 10 years, hybrid systems have seen tremendous progress as a result of the advances in imaging technology. The combined PET methods represent significant advancements in this regard.
The global availability of healthcare resources has been considerably impacted by the COVID-19 pandemic. The pandemic was controlled, in part, by drastically reducing in-patient and out-patient services for other illnesses and putting in place concrete infection prevention and control measures. Hence, the volume of nuclear imaging tests for diagnostic and therapeutic purposes sharply decreased as the epidemic spread to several nations.
The majority of the heart patients are often older than 60 and thus, at an extremely high risk of conditions such as diabetes, hypertension, chronic renal and lung disorders, and cancer. They are also extremely susceptible to COVID-19 as a result of their low immunity, which has decreased the demand for nuclear imaging treatments. However, a lot of medical professionals think that this drop in treatments is only temporary.
The SPECT technology dominated the market in 2024 with around 55% revenue share. The major advantages of SPECTs are their affordability, versatility for diagnosing diseases of the heart, bones, and brain, as well as cancer. They are also used to monitor the effectiveness of treatment and assess the functioning of certain organs.
Compared to standalone devices, hybrid equipment delivers more-accurate images, with a higher resolution. In a single examination, such devices can offer both morphological and physiological data.
For instance, the SPECT/CT system enables precise localization and enhanced specificity of the data provided by a CT scan, in the case of skeletal examination. Many hospitals are increasingly switching from standalone to hybrid equipment due to these advantages.
The PET category will witness the fastest growth due to the advancements in this technology, specifically the emergence of hybrid variants over standalone ones. PET provides metabolic diagnoses with a higher precision and images with higher resolutions. This modality is widely used for functional imaging, cancer detection, therapy effect evaluation, and devising treatment plans.
These types have been considered:
Hospitals accounted for the largest market share in 2024, with around 50% revenue share. This is attributed to the high frequency of chronic diseases, growing public awareness of nuclear therapy, and the transition from solo to hybrid modalities.
Furthermore, several countries, particularly the U.S. and those in Europe, are creating a readiness assessment framework for effective and smart ways of using radio drugs, so as to provide safe and effective treatments. Thus, most hospitals are focusing on the therapy for cancer patients, encouraged by its high efficacy and few side-effects. Nuclear imaging is already making a major contribution in detecting the area of cancer spread in the body.
The market in this category is also driven by the rising investment in nuclear imaging equipment R&D, increasing number of diagnostic institutions, and a high volume of nuclear imaging procedures.
Diagnostic imaging centers are the fastest-growing category. This is attributed to the improving standards of healthcare services provided by these places, which is reflected in their rapid adoption of advanced imaging equipment. Moreover, compared to full-fledged hospitals, diagnostic imaging centers offer quicker and more-affordable procedures.
The end users considered are mentioned below:
Oncology dominates the market with around 50% revenue share in 2024. This is attributed to the rising incidence of cancer and the utility of standalone and hybrid PET and SPECT scans to diagnose tumors in various part of the body. As per the WHO, new diagnoses of cancer around the globe are expected to increase to 35 million by 2050 from 20 million in 2022, reflective a massive rise of 77%. Not only does nuclear imaging provide insights on the type and stage of the cancer but also helps evaluate the effectiveness of therapy.
The cardiology category will witness the highest CAGR as heart diseases account for the highest mortality in the world. Hence, the focus on their early diagnosis and effective treatment is increasing around the world. Myocardial perfusion imaging is widely performed to assess the flow of blood to different chambers of the heart, to evaluate cardiac function and detect potential CHD. The test tells doctors if patients’ coronary arteries are blocked or narrowed, which could be causing less blood to flow to the heart. The test can also help assess if someone has had a heart attack by evaluating the health of the cardiac muscle.
We studied the following applications:
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North America dominates the market with 40% revenue share in 2024. This is attributed to the presence of advanced healthcare infrastructure, high prevalence of chronic diseases, and favorable medical expense reimbursement regulations. As per the American Cancer Society, more than 2 million new cancer diagnoses are expected in the U.S. in 2024, the highest on record. The National Institute of Neurological Disorders and Stroke says that over 50 million people in the country suffer from over 600 neurological diseases. Additionally, most of the major market players are either based or have their manufacturing plants or offices in this region, which leads to the easy availability of nuclear imaging systems.
APAC is set to be the fastest-growing market during the forecast period. This is attributed to the high prevalence of cancer, heart diseases, and neurological diseases and the vast unmet need for effective diagnosis and treatment. Therefore, governments and international agencies are taking steps to make people aware of the significance of early diagnosis and enable access to cost-effective screening and treatment procedures. As per estimates, China had the largest cancer-ridden population in the world in 2022, numbering 19,976,499, while India had the third-largest, at 1,413,316.
Here is the geographical breakdown of the market:
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