Global Nuclear Medicine Equipment Market Overview

The global nuclear medicine equipment market was valued at USD 6.87 billion in 2023 and is projected to reach USD 8.47 billion by 2030, growing at a CAGR of 3.1% from 2024 to 2030. The market's growth is primarily driven by the increasing preference for nuclear medicine due to its noninvasive ability to deliver molecular and cellular imaging—capabilities that are unmatched by other diagnostic techniques.

This imaging modality is especially valuable for early disease detection, which is essential as the prevalence of chronic illnesses, including cardiovascular diseases and cancer, continues to rise worldwide.

Market Drivers

Rising Burden of Chronic Diseases and Cancer

The growing incidence of cancer is a key factor fueling market growth. According to the World Health Organization (WHO):

• Approximately 20 million new cancer cases and 9.7 million deaths were recorded globally in 2022.
• Around 53.5 million people were living within five years of a cancer diagnosis.
• It is estimated that 1 in 5 individuals will develop cancer during their lifetime.
• About 11% of men and 8% of women are expected to die from the disease.

Nuclear medicine plays a crucial role in targeted cancer therapies, allowing precise delivery of radiation to tumor cells while minimizing damage to healthy surrounding tissues. This focused treatment approach reduces side effects and improves therapeutic outcomes.

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Increasing Clinical Research Activity

The global rise in clinical trials is another contributor to market growth. As of April 15, 2024, over 491,000 clinical studies had been registered globally—up from just 2,119 studies in 2000. This surge highlights the increasing investment in drug development and diagnostic research, boosting demand for advanced imaging tools such as nuclear medicine equipment.

In line with this, the American Cancer Society has projected the following for 2024 in the U.S. alone:

• Approximately 81,610 new cases of kidney cancer are expected (52,380 men and 29,230 women).
• An estimated 14,390 deaths from kidney cancer (9,450 men and 4,940 women) are anticipated.

Such figures underscore the need for accurate imaging technologies, further nurturing the nuclear medicine equipment market.

Key Market Trends & Insights

• North America held the largest share of the global market in 2023.
• Within North America, the U.S. was the leading market.
• By type, the Single-photon Emission Computed Tomography (SPECT) segment dominated in 2023.
• In terms of application, the cardiology segment led the market.
• By end-use, hospitals held the highest market share in 2023.

Market Size & Forecast Summary

• 2023 Market Size: USD 6.87 Billion
• 2030 Projected Market Size: USD 8.47 Billion
• CAGR (2024–2030): 3.1%
• Leading Region (2023): North America

Competitive Landscape

Key companies in the nuclear medicine equipment market are pursuing strategic partnerships, mergers, and acquisitions to strengthen their market presence and expand their customer base.

Notable Company Highlights

• Siemens Healthineers AG provides a wide range of SPECT and PET imaging systems, including hybrid PET/CT scanners, to meet the rising demand for integrated functional and anatomical imaging.

Leading Companies in the Nuclear Medicine Equipment Market

These organizations collectively hold a dominant share and influence overall market dynamics:

• GE HealthCare
• Siemens Healthineers AG
• Koninklijke Philips N.V.
• Canon Medical Systems Corporation
• TTG Imaging Solutions
• Mediso Ltd.
• CMR Naviscan
• Neusoft Corporation
• Shenzhen Anke High-tech Co., Ltd.
• Bracco Imaging S.p.A.
• Biosensors International Group, Ltd.

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Conclusion

The global nuclear medicine equipment market is set for steady growth, driven by the rising incidence of chronic diseases, particularly cancer and cardiovascular conditions, as well as the increasing volume of clinical trials. Nuclear imaging’s ability to deliver precise, early, and targeted diagnostics and treatments positions it as a critical tool in modern healthcare.

With a projected CAGR of 3.1% from 2024 to 2030, and expected growth from USD 6.87 billion in 2023 to USD 8.47 billion by 2030, the market is poised to expand gradually but consistently. Ongoing technological advancements, coupled with growing awareness of nuclear medicine’s clinical benefits, will continue to drive adoption across hospitals, research centers, and specialized imaging facilities.