Nuclear Medicine Equipment Market Set to Reach $3.49 Billion by 2029 with 6% Yearly Growth

What Is the Estimated Market Size and Growth Rate for the Nuclear Medicine Equipment Market?
The market size of nuclear medicine equipment has seen robust growth in the past few years. The market, which was worth $2.66 billion in 2024, is projected to increase to $2.81 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%. The rise during the historic period is linked to factors such as burgeoning demand for early detection of diseases, expansion in the elderly population, development in the healthcare infrastructure, increased funding for research and development, and a growing demand for functional imaging.

In the coming years, the size of the nuclear medicine equipment market is predicted to experience robust growth. Its value is projected to reach $3.49 billion by 2029, increasing at a compound annual growth rate (CAGR) of 5.5%. The growth in the predicted period is due to factors such as the increase in cancer cases, the rising cost of nuclear imaging systems, an intensified focus on personalized medicine, a boost in the adoption of hybrid imaging systems, and an escalating demand for diagnostics and treatment for alzheimer's and parkinson's disease. Major trends projected for this period include technological breakthroughs, AI integration, hybrid imaging systems, telemedicine, and miniaturized devices.

What Are the Forces Behind the Rapid Growth of the Nuclear Medicine Equipment Market?
The expansion of the nuclear medicine equipment market is likely to be fuelled by the rising prevalence of cardiac illnesses. Heart conditions, encompassing a variety of diseases that impair the heart and blood vessels' functionality, structure, or circulation, are commonly referred to as cardiac or cardiovascular disorders. Aging populations, lifestyle decisions like poor nutrition and inactivity, environmental impacts, and advancements in diagnostic techniques that enable superior detection, primarily drive the prevalence of these diseases. Nuclear medicine equipment, which enables meticulous imaging and diagnosis, plays an integral role in managing cardiac diseases by facilitating their early discovery, precise staging, and efficient tracking. For example, British Heart Foundation data from January 2024 indicated that nearly 7.6 million individuals in the UK, including about 4 million men and 3.6 million women, were living with heart and circulatory conditions. These diseases constitute approximately 27% of all deaths in the UK, amounting to over 170,000 annual deaths or around 480 daily deaths, equivalent to one death every three minutes. Consequently, the escalated incidence of cardiac illnesses promotes the growth of the nuclear medicine equipment market.

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Who Are the Dominant Companies Influencing Nuclear Medicine Equipment Market Trends?
Major companies operating in the nuclear medicine equipment market are Fujifilm Holdings Corporation, Koninklijke Philips N.V., General Electric Company, Shimadzu Corporation, Mallinckrodt Pharmaceuticals, Curium Pharma, Bartec Technologies Ltd., Cardinal Health Inc., Canon Medical Systems Corporation, Digirad Corporation, TTG Imaging Solutions, Biodex Medical Systems Inc., Spectrum Dynamics Medical, Mediso Ltd., Cyclopharm Limited, Siemens Healthineers AG, Capintec Inc., Laboratorios Bacon S.A., Von Gahlen, Toshiba Medical Systems Corporation, Elysia-Raytest, MR Solutions Ltd., DDD-Diagnostic A/S, MILabs B.V.

Who Are the Dominant Companies Influencing Market Trends?
Leading businesses within the nuclear medicine equipment market have directed their focus on the creation of cutting-edge products like PET/CT scanners, engineered to capture highly detailed images of the body's metabolic processes. The fusion of positron emission tomography (PET) and computed tomography (CT) creates a sophisticated imaging tool used in nuclear medicine known as a PET/CT scanner. This dual-modality scanner offers functional and anatomical imaging within a single session, leading to a more accurate detection and diagnosis of a wide array of conditions. For example, Siemens Healthineers, a healthcare organization based in Germany, revealed the Biograph Trinion PET/CT scanner in June 2024. Unique to this PET scanner is the scalable axial field-of-view design, which allows for technological enhancements onsite without the need for expensive room remodeling or interference in workflow. Its integral lutetium oxyorthosilicate (LSO) crystal detector guarantees high spatial resolution and an ultra-quick time-of-flight performance of 239 picoseconds, enhancing the detectability of small lesions and providing sufficient sensitivity up to 128 cps/kBq. This ultimately leads to faster scans and lower radiation doses for patients. The Biograph Trinion even features a novel air-cooled digital detector, an upgrade from traditional water-cooled systems which simplifies its installation process.

What Are the Different Segmentations in the Nuclear Medicine Equipment Market?
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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Which Region Is at the Forefront of 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 Is Covered In The Nuclear Medicine Equipment Global Market Report?

- Market Size Analysis: Analyze the nuclear medicine equipment Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the nuclear medicine equipment market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall nuclear medicine equipment market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the nuclear medicine equipment market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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