China Nuclear Imaging Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 348.26 Million |
| Market Size (2029) | USD 425.96 Million |
| CAGR (2024 - 2029) | 4.11 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Nuclear Imaging Market Analysis
The China Nuclear Imaging Market size is estimated at USD 348.26 million in 2024, and is expected to reach USD 425.96 million by 2029, growing at a CAGR of 4.11% during the forecast period (2024-2029).
During the early phase of the pandemic, the Chinese government froze nationwide public transportation, which, in turn, halted all imaging and therapy in the Nuclear Medicine departments, and radioimmunoassay procedures were postponed till the situation returned to normal. The supply of Radiopharmaceuticals is showing a recovery phase by managing the adverse impact of COVID-19 in China. For instance, in April 2022, the China Isotope & Radiation Corporation (CIRC), a company that is involved in radioactive sources and irradiation, and Nuclear Medicine, stated that, while resolving the issues brought on by the COVID-19 pandemic, the company transitioned into the 14th five-year plan. The yearly report showed steady growth and strong financial achievement for 2021. Thus, the companies are recovering from the adverse impact of COVID-19 and are expected to do the same over the forecast period.
The major factors driving the growth of the Chinese Nuclear Imaging market include the rising burden of chronic diseases, increasing technological advancements, and growth in Nuclear Medicine and imaging applications. One of the major chronic diseases in China includes dementia, which can be diagnosed using Nuclear Medicine Imaging techniques. Hence, with the increasing burden of dementia in the region, it is expected to have significant growth in the market. For instance, as per the study published by the Journal of Psychogeriatrics in November 2022, the prevalence of dementia was high among older adults residing in Xiamen, China. Thus, the demand for Nuclear Imaging increases with the high prevalence of dementia and is expected to boost the growth of the market over the forecast period.
Furthermore, with new centers for radioisotope research in the region, it is expected to have new applications and boost the market's growth. For instance, in February 2022, INVAP, an Argentine company, stated that the Nuclear Medicine research and radioisotope production facility would be constructed in China due to the interest in Argentine technology for Nuclear Medicine. Hence, China formulated a national plan to produce Molybdenum-99 and other radioisotopes for medical use. Thus, with the new Nuclear Medicine research facility in China, the demand for Radiopharmaceuticals is expected to increase, which would help the market to grow over the forecast period.
However, the shorter half-life of Radiopharmaceuticals and the high cost of the techniques are anticipated to hamper the growth of the market over the forecast period.
China Nuclear Imaging Market Trends
This section covers the major market trends shaping the China Nuclear Imaging Market according to our research experts:
Neurology Under SPECT Application Segment is Expected to Grow with a Significant CAGR Over the Forecast Period
The market for SPECT applications in neurology is growing due to a variety of factors. The factors that are leading to the growth of this segment include the high burden of neurological and brain disorders and research studies of SPECT Imaging in diagnosing neurological issues. According to the study published by Frontier in Psychiatric in February 2021, in China, the average prevalence of Parkinson's disease (PD) among the Han population is 3.9% of those over 50. By 2030, it is predicted that 4.94 million Chinese people will have PD, making up half of all PD patients worldwide. The high burden of PD disorders is expected to boost the demand for SPECT Imaging that can be used for diagnosis and is expected to boost the market's growth over the forecast period.
Many research studies are being conducted in China on the use of SPECT Imaging. For instance, in March 2021, as per the report published by BMC Neurology, the researchers found that the sensitivity and specificity of the 123I-FP-CIT SPECT scan to clinically diagnose probable dementia with Lewy bodies (DLB) in Chinese memory clinics are 77.7% and 90.4%, respectively. The high specificity and sensitivity are expected to increase the usage of SPECT Imaging across China, leading to its market growth.
Therefore, the above-mentioned growing prevalence of neurological diseases and developments in neurology applications are further expected to drive the growth of the China Nuclear Medicine Market for SPECT Radiopharmaceuticals by Type in this segment.
Oncology Under PET Application Segment is Expected to Have High Growth Over the Forecast Period
Positron Emission Tomography (PET) is a type of Nuclear Medicine procedure that measures the metabolic activity of the cells of body tissues. PET is a combination of Nuclear Medicine and biochemical analysis. It is mostly used to diagnose various types of cancers and is currently used to study cancer phenotyping. For instance, as per the study report published by ACS Journal in April 2022, PET Imaging would further advance cancer evaluation techniques, creating a modality for in vivo cancer phenotyping, as oncology and PET Imaging became increasingly intertwined.
Furthermore, technological advancements and initiatives taken by various manufacturers will also boost the growth of the Chinese Nuclear Imaging market. For instance, in May 2021, United Imaging, a Chinese company involved in Medical Imaging and radiotherapy equipment, launched its uExcel Technology Platform for PET/CT at the China International Medical Equipment Fair (CMEF). The uExcel technology platform includes a range of major hardware and software innovations that provide significant performance enhancements, more powerful imaging capabilities, richer system functionalities, a better user experience, and improved patient safety.
Thus, with new research studies and advancements in PET technology, the China Nuclear Medicine Market for PET Radiopharmaceuticals by Type is expected to witness significant growth, helping to drive the market over the forecast period.
China Nuclear Imaging Industry Overview
The market comprises major market players, and these players are focusing on R&D to strengthen their position in the market. The market has been noticing technological developments on a large scale in Nuclear Imaging Systems and Nuclear Medicine Equipment over the past couple of years. Some of the market players are Bayer AG, Bracco Imaging SpA, Canon Inc., Cardinal Health Inc., China Isotope & Radiation Corporation (CIRC), Curium Pharma, General Electric Company (GE HealthCare), Global Medical Solutions Ltd, Koninklijke Philips NV, Siemens Healthcare GmbH, and Yantai Dongcheng Pharmaceutical Group Co. Ltd.
China Nuclear Imaging Market Leaders
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Bracco Imaging SpA
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Canon Inc.
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Koninklijke Philips NV
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Cardinal Health Inc.
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General Electric Company (GE HealthCare)
*Disclaimer: Major Players sorted in no particular order
China Nuclear Imaging Market News
- August 2022: IBA (Ion Beam Applications S.A), a provider of radiopharmaceutical production solutions, signed a collaboration agreement with Chengdu New Radiomedicine Technology Co. Ltd (CNRT) to install a Cyclone IKON in Chengdu, Sichuan Province, China. The Cyclone IKON is IBA's new high-energy and high-capacity cyclotron which offers the largest energy spectrum for PET and SPECT isotopes from 13 MeV to 30 MeV. CNRT is a Chinese manufacturer and provider of medical isotopes used for oncology diagnosis and therapy.
- January 2022: ImaginAb and DongCheng Pharmaceutical Group formed a partnership to bring ImaginAb's CD8 ImmunoPET agent, zirconium Zr 89 crefmirlimab berdoxam product, into the Chinese market.
China Nuclear Imaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Chronic Diseases
4.2.2 Increasing Technological Advancements with Growth in Applications of Nuclear Imaging
4.3 Market Restraints
4.3.1 High Cost of the Techniques
4.3.2 Short Half-life of Radiopharmaceuticals
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Equipment
5.1.2 Radioisotope
5.1.2.1 SPECT Radioisotopes
5.1.2.1.1 Technetium-99m (TC-99m)
5.1.2.1.2 Thallium-201 (TI-201)
5.1.2.1.3 Gallium (Ga-67)
5.1.2.1.4 Iodine (I-123)
5.1.2.1.5 Other SPECT Radioisotopes
5.1.2.2 PET Radioisotopes
5.1.2.2.1 Fluorine-18 (F-18)
5.1.2.2.2 Rubidium-82 (RB-82)
5.1.2.2.3 Other PET Radioisotopes
5.2 By Application
5.2.1 SPECT Applications
5.2.1.1 Neurology
5.2.1.2 Cardiology
5.2.1.3 Thyroid
5.2.1.4 Other SPECT Applications
5.2.2 PET Applications
5.2.2.1 Oncology
5.2.2.2 Cardiology
5.2.2.3 Neurology
5.2.2.4 Other PET Applications
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bayer AG
6.1.2 Bracco Imaging SpA
6.1.3 Canon Inc.
6.1.4 Cardinal Health Inc.
6.1.5 China Isotope & Radiation Corporation (CIRC)
6.1.6 Curium Pharma
6.1.7 General Electric Company (GE HealthCare)
6.1.8 Global Medical Solutions Ltd
6.1.9 Koninklijke Philips NV
6.1.10 Siemens Healthcare GmbH
6.1.11 Yantai Dongcheng Pharmaceutical Group Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
China Nuclear Imaging Industry Segmentation
Nuclear medicine imaging procedures are non-invasive and, with the exception of intravenous injections, are usually painless medical tests that help physicians diagnose and evaluate medical conditions. Nuclear imaging scans use radioactive materials called radiopharmaceuticals or radiotracers. The Chinese nuclear imaging market is segmented by product (equipment, radioisotope, and PET radioisotopes) and application (SPECT application and PET application). The report offers values in USD million for all the above-mentioned segments.
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China Nuclear Imaging Market Research FAQs
How big is the China Nuclear Imaging Market?
The China Nuclear Imaging Market size is expected to reach USD 348.26 million in 2024 and grow at a CAGR of 4.11% to reach USD 425.96 million by 2029.
What is the current China Nuclear Imaging Market size?
In 2024, the China Nuclear Imaging Market size is expected to reach USD 348.26 million.
Who are the key players in China Nuclear Imaging Market?
Bracco Imaging SpA, Canon Inc., Koninklijke Philips NV, Cardinal Health Inc. and General Electric Company (GE HealthCare) are the major companies operating in the China Nuclear Imaging Market.
What years does this China Nuclear Imaging Market cover, and what was the market size in 2023?
In 2023, the China Nuclear Imaging Market size was estimated at USD 334.51 million. The report covers the China Nuclear Imaging Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the China Nuclear Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Nuclear Imaging Industry Report
Statistics for the 2024 China Nuclear Imaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Nuclear Imaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
China Nuclear Imaging Market Report Snapshots
