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Nuclear medicine is a branch of clinical medicine that deals with the use of radionuclide pharmaceuticals in diagnosis and treatment. Among the equipment in diagnostics, mainly single-photon emission computed tomographs (SPECT, capture gamma radiation) and positron emission tomographs (PET scanners) are used, and radio therapy prevails in treatment.
2024: Sales of nuclear medicine equipment in the world reached $3.3 billion at the end of the year
At the end of 2024, the global market for equipment for nuclear medicine amounted to $3.3 billion. This sector is showing a steady positive trend, as stated in the IMARC Group study, the results of which Zdrav.Expert got acquainted with in mid-June 2025.
Nuclear medicine provides for the introduction into the body of small and safe doses of radiopharmaceuticals for the diagnosis and treatment of various diseases. The method is used in areas such as cardiology, neurology, oncology, etc. Nuclear medicine provides information that cannot be obtained by any other imaging methods: this is data on the functional activity of tissue. Thanks to this, the method allows you to diagnose diseases at the very initial stages. In addition, it is possible to identify the patient's early response to treatment, which, if necessary, allows adjustments to be made to the therapeutic course.
One of the drivers of the market in question, the authors of the study name the increasing prevalence of chronic diseases such as cardiovascular disease (CVD) and cancer. According to the World Health Organization (WHO), CVDs are the leading cause of death worldwide. In the European region, such ailments account for more than 42.5% of all deaths. In addition, according to WHO estimates, in 2022, about 20 million new cases of cancer and about 9.7 million deaths caused by it were recorded worldwide. Nuclear medicine helps to diagnose such conditions, and therefore the demand for appropriate equipment is growing.
Another stimulating factor is technological advances in imaging techniques, including the growing popularity of hybrid diagnostic devices. The introduction of single-photon emission computed tomography (SPECT) and positron emission tomography (PET) systems improves the accuracy of diagnostic imaging, which contributes to increased disease detection efficiency and improved treatment strategy. For example, in 2024, the Indian company Pgimer introduced an advanced biopsy using PET/CT, which showed 95% successful results in the diagnosis of prostate cancer. Modern devices combine anatomical and functional imaging, offering increased accuracy in diagnosing complex diseases.
Advances in the development of advanced radiopharmaceuticals that help improve imaging accuracy and reduce side effects have a positive impact on the industry. These substances also find application in the field of personalized medicine, which is actively developing.
By type of equipment, the authors of the study segment the market into SPECT, PET and planar scintigraphy. In 2024, the devices of the first of the listed types dominated. In terms of application, neurology, oncology, cardiology, etc., are distinguished. The largest share of revenue comes from the oncology segment. Geographically, North America leads the way. Significant players on a global scale are named:
- Biodex Medical Systems (Mirion Technologies Inc.);
- Cardinal Health;
- CMR Naviscan;
- DDD-Diagnostic A/S;
- Digirad;
- General Electric;
- Koninklijke Philips NV;
- Mediso;
- Neusoft;
- Siemens AG;
- SurgicEye;
- Toshiba.
Analysts at IMARC Group believe that in the future, the average annual growth rate in complex percentages (CAGR) in the market under consideration will be 5.56%. Thus, by 2033, costs could increase to about $5.4 billion.[1]
2016: Market size of $4.7 billion
In October 2016, the analytical company MarketsandMarkets published some results of a study of the global market for nuclear medicine equipment and radiopharmaceuticals. Its volume, as experts predict, will increase by more than half in five years.
According to MarketsandMarkets expectations, in 2016 sales of equipment for radionuclide diagnostics and treatment on a global scale will reach $4.7 billion, and by 2021 this figure will increase to $7.3 billion. Thus, the market in question will show an average annual growth of 9.3%.
According to analysts, the main driver of the market's rise is the growing use of equipment such as SPECT and PET, as well as advanced cancer treatments with radiopharmaceuticals and alpha radioimmunotherapy. In addition, the demand for nuclear medicine equipment is increasing as a result of an increase in the number of cases of cancer and heart disease.
The researchers attributed to the factor restraining the development of the market that the use of modern and safest radiopharmaceuticals is limited by their high cost and difficulties associated with the transportation and storage of radionuclide-based drugs with a short half-life.
In addition, strict market regulation rules and the popularity of traditional diagnostic methods have a negative impact on sales of nuclear medicine devices and radiopharmaceuticals.[2]
Notes
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