India Nuclear Imaging Market Size (2024 - 2029)

India Nuclear Imaging Market Analysis

The India Nuclear Imaging Market size is estimated at USD 316.44 million in 2024, and is expected to reach USD 402.34 million by 2029, growing at a CAGR of 4.92% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the nuclear imaging market in India. Various research studies have been published to provide insight into the effects of the pandemic on the studied market. According to research published in the Journal of Nuclear Medicine in August 2021 titled "Effect of lockdown due to COVID-19 pandemic on oncological patients with various cancers undergoing treatment in a tertiary care hospital in India," there were 600-700 PET/CT patients per month in the pre-COVID era, but this number fell during the COVID times due to lockdowns across the nation. During this time, OPDs and elective procedures were either limited in scope or abolished entirely. Due to their fear of contracting the virus, non-COVID patients were unable to attend their scheduled follow-up appointments. Therefore, due to the above factors, the COVID-19 pandemic significantly impacted the market's growth.

Technological improvements, expanding diagnostic applications in various diseases such as cardiovascular diseases, and government assistance, are factors driving the market's growth in India. Many research studies are also focusing on the use of SPECT for diagnosing cardiovascular patients. For instance, Rohit S et al. and others published a paper in the Journal of Cardiovascular Diseases & Diagnosis in March 2020 with the title "Ischemia Reversal Therapy as an add-on Therapy for Ischemic Heart Disease: A Pilot Study based on SPECT Myocardial Perfusion Imaging." The patients in the trial with myocardial perfusion who were receiving alternative therapy underwent SPECT myocardial perfusion imaging (SPECT-MPI). It is anticipated that such SPECT imaging studies will increase demand.

The government's support for nuclear imaging and diagnosis is projected to broaden the market's potential for expansion in India. For instance, as part of the Aatma Nirbhar Bharat initiatives for the Department of Atomic Energy, the Government of India announced in May 2020 the launch of a research reactor in public-private partnership (PPP) mode to facilitate the production of medical isotopes for the treatment of cancer and other diseases (DAE). Furthermore, the Bhabha Atomic Research Centre (BARC) has developed the design for the nation's first public-private partnership research reactor for the manufacturing of nuclear pharmaceuticals in accordance with the government's goal to launch a research reactor in public-private partnership (PPP) in January 2021. Nuclear imaging will spread in the area thanks to such government measures to increase the production of medical isotopes. Hence, the above developments are further expected to improve the market growth in this segment.

However, the lack of proper reimbursement and stringent regulatory approval procedures, and the high cost of equipment, are expected to impede the market growth in India.

India Nuclear Imaging Industry Segmentation

As per the scope of the report, nuclear medicine imaging procedures are non-invasive, with the exception of intravenous injections, and are usually painless medical tests that help physicians diagnose and evaluate medical conditions. These imaging scans use radioactive materials called radiopharmaceuticals or radiotracers. These radiopharmaceuticals are used in diagnosis and therapeutics. They are small substances that contain a radioactive substance that is used in the treatment of cancer, cardiac and neurological disorders. India Nuclear Imaging Market is segmented by Product (Equipment, and Diagnostic Radioisotope (SPECT Radioisotopes, and PET Radioisotopes), Application (SPECT Application (Cardiology, Neurology, Thyroid, and Other SPECT Applications), and PET Application (Oncology, Cardiology, Neurology, and Other PET Applications). The report offers the value (in USD million) for the above segments.