Nuclear Imaging Devices Market Analysis

Nuclear Imaging Devices Market Analysis

Based on product type, the nuclear imaging devices market is segmented into single photon emission computed tomography (SPECT), positron emission tomography (PET), planar scintigraphy and others. Further, SPECT is segregated into standalone SPECT and hybrid SPECT/CT. PET is subdivided into standalone PET and hybrid PET/CT. SPECT segment is anticipated to exhibit enormous growth over the estimated period. Growing development of hybrid SPECT/CT systems, which combine the functional information provided by SPECT with the anatomical details obtained from CT scans. This integration allows for more precise localization and characterization of abnormalities and improved diagnostic accuracy will foster segmental growth. Moreover, utilization of advanced reconstruction algorithms, such as iterative reconstruction techniques to enhance image quality, reduce noise and improve quantitative accuracy in SPECT imaging.

The nuclear imaging devices market by application is segmented into oncology, cardiology, neurology, and others. The oncology segment was accounted for more than 49% market share in the year 2022. Increasing usage of positron emission tomography imaging for diagnosis, treatment planning, and response assessment of various cancers will fortify segment revenue size. Furthermore, advancements in image reconstruction algorithms and quantitative analysis techniques are enhancing the accuracy and reliability of oncologic imaging, aiding in treatment selection and personalized medicine approaches. With the rising incidence rate of cancer globally is poised to drive overall business growth.

Nuclear imaging devices market by end-use is subdivided into hospitals, diagnostic imaging centers, and others. The hospitals segment garnered notable market share and accounted for more than USD 1 billion revenue size in 2022. Integration of nuclear imaging devices within the hospital infrastructure to allow seamless workflow and streamlined patient care will accelerate the segmental growth potential. Hospitals are investing in advanced nuclear imaging systems such as SPECT and PET scanners to enhance their diagnostic capabilities and provide comprehensive imaging services is anticipated to boost product demand.
 

Additionally, growing emphasis on multidisciplinary collaboration within hospitals, where nuclear medicine departments work closely with other specialties such as oncology, cardiology, and neurology to facilitate integrated patient care. This collaborative approach ensures optimal utilization of nuclear imaging devices and enables more accurate diagnosis, treatment planning, and monitoring of patients is expected to bolster segmental growth potential.

U.S. nuclear imaging devices market accounted for more than USD 950 million in 2022 and will grow lucratively to reach more than USD 1,505 million by 2032. Increasing prevalence of chronic diseases, technological advancements, the shift towards personalized medicine and the integration of remote monitoring and telehealth solutions are some of the few aspects accelerating overall market growth in the U.S. Increasing prevalence of chronic diseases such as cardiovascular disorders, cancer, and neurological conditions in the U.S. will boost industry revenue size. Additionally, technological advancements in nuclear imaging such as hybrid imaging systems with improved image reconstruction algorithms are further propelling the market. Further, the region's high healthcare spending on health care management and rising disposable income will propel the expansion of the U.S. market expansion.