Middle East Nuclear Imaging Market Outlook 2031:
The Middle East nuclear imaging market size was valued at USD 278.07 Million in 2022 and is projected to reach USD 350.33 Million by 2031, expanding at a CAGR of 2.6% during the forecast period 2023 - 2031. The growth of the market is attributed to the rising diagnostic applications in several diseases such as cancer and cardiovascular diseases, technological advancements, government support, and shift from standalone to hybrid modalities.
Nuclear imaging refers to an incipient imaging technology that uses a small quantity of radioactive substance connected to compounds utilizes by the body's compounds or cells that attach to tumor cells. Utilizing significant detection framework, the radioactive substances can be traced in the body to see where and when they accumulate and this method has the ability of improving medical diagnosis, clinical research, disease prevention, and treatment. PET creates computerized images of chemical alteration like sugar metabolism, which occurs in the tissue.
Generally, the patient is given an injection of a combination of radioactively labeled sugar and sugar, radioactive sugar concentrates on the tumor in the body if it is present and can be traced with the help of a scanner. However, in SPECT a small dose of radioactive material is injected in the vein of the patient and can be traced by the use of a scanner to check the blood flow to tissue and chemical reactions in the body.
The Covid-19 pandemic had a positive impact on the Middle East nuclear imaging market as there is a rapid increase in the COVID-19 infected patients and these solutions are estimated to help in the smooth workflow during the treatment process and aids in decreasing contact with healthcare facilities, healthcare staff, and patients, in order to minimize the risk of COVID-19. Thereby, majority of the key players are involved in launching new products for the management of healthcare systems during the pandemic.
Middle East Nuclear Imaging Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness among clinical researchers and physicians regarding the benefits of nuclear imaging is expected to drive the market during the forecast period.
- Rising applications of oncology, and neurological diseases are the foremost surging the demand for PET and SPECT.
- Growing geriatric population and rising horizon of applications in PET and SPECT imaging due to significant developments and discovery of new radiopharmaceuticals are propelling the Nuclear imaging market.
- Shortage of the radionuclide Tc99m (technetium 99), which is the primarily used isotope for imaging the body in nuclear medicine scans is anticipated to impede the market in coming years.
- R&D investment and technological advancement in the Middle East nuclear imaging market are expected to offer lucrative opportunities for the market players.
Scope of Nuclear Imaging Market Report
The report on the Middle East nuclear imaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Middle East Nuclear Imaging Market -Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product (Equipment and Radioisotope) and Application (PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) Applications)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Bracco Imaging SpA, Cardinal Health Inc., GE Healthcare, Koninklijke Philips NV, and Siemens Healthineers
Nuclear Imaging Market Segment insights
The radioisotope segment is projected to constitute a large market share
Based on product, the Middle East nuclear imaging market is segregated into equipment and radioisotope, the radioisotope is further divided into SPECT and PET. The radioisotope segment is expected to account for a key share of the market during the forecast period owing to its ability to provide high resolution images; it is primarily used in oncology as the images provided gives comprehensive information of the tumor.
The SPECT segment is expected to register a substantial CAGR
Based on applications, the Middle East nuclear imaging market is divided into PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) Applications. The SPECT segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to the application of Technetium 99m in imaging, cardiac ventriculography, bone scans, brain imaging, and 3D scanning techniques.
however, the PET segment is anticipated to expand at a rapid pace during the forecast period owing to the rising prevalence of various types of cancer and increasing demand for oncology for treatment of the same. Furthermore, PET is more sensitive than contrast-enhanced CT scan in the staging of various types of lymphoma or in detecting tumor dissemination in several solid cancers, such as lung cancer, breast cancer, and colon cancer.
The Middle East nuclear imaging market has been segmented on the basis of
- PET (Positron Emission Tomography)
- SPECT (Single Photon Emission Computed Tomography)
Key players competing in the Middle East nuclear imaging market includes Bracco Imaging SpA, Cardinal Health Inc., GE Healthcare, Koninklijke Philips NV, and Siemens Healthineers.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,
- In May 2018, Curium intensified its position in the French PET market with the possession of Cyclopharma’s French manufacturing and commercial operations.