Japan Nuclear Imaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 325.42 Million |
| Market Size (2029) | USD 406.51 Million |
| CAGR (2024 - 2029) | 4.55 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Japan Nuclear Imaging Market Analysis
The Japan Nuclear Imaging Market size is estimated at USD 325.42 million in 2024, and is expected to reach USD 406.51 million by 2029, growing at a CAGR of 4.55% during the forecast period (2024-2029).
Certain factors that are driving the market growth include the rise in prevalence of cancer and cardiac disorders, increase in technological advancements, growth in the applications of nuclear medicine and imaging.
After being ranked the topmost cause of life-loss in the last century, stroke is now the third-ranked cause of death in Japan, following cancer and heart disease. According to the 2018 article, 'Lifestyle and cardiovascular disease in Japan', the recent trend of rising CHD (coronary heart disease) prevalence among the urban population is a cause for serious concern, as a potential source of forthcoming problems for public health as well as clinical practice in Japan. Moreover, due to the association between lifestyle and CVD (cardiovascular disease), higher sodium, lower calcium, and lower animal protein content in the diet, along with higher alcohol consumption, may account for the higher prevalence of hypertension and higher risk of stroke in the Japanese population than for western population at same BMI levels. According to the latest OECD data, in Japan, patients with end-stage kidney failure (ESKF), often caused by diabetes and hypertension, are the highest in the OECD at 238 per 100,000 population while the average is 101. Thus, the increasing prevalence of cancer, along with certain cardiovascular diseases, is expected to propel the growth of the nuclear imaging market in Japan.
Japan Nuclear Imaging Market Trends
Oncology Segment is Expected to Witness Significant Growth Over the Forecast Period
The oncology segment is anticipated to witness a significant share in the nuclear imaging market over the forecast period owing to the factors such as the growing burden of various types of cancer and the growing application of radioisotopes in treating and diagnosing cancer sites in the body.
The increasing prevalence of cancer is boosting the demand for radioisotopes for nuclear imaging for research purposes. For instance, as per the 2022 statistics published by Ganjoho, the lung was the leading site (24%) for males, followed by the rectum/colon (13%), stomach (12%), pancreas (8%), and liver (7%). In addition, as per the same source, the rectum/colon was the leading site for cancer among the female population (16%), followed by the lung (14%), pancreas (12%), breast (10%), and stomach (9%). Thus, the high burden of cancer and the need for early diagnostics are expected to increase, supporting the segment's expansion over the forecast period.
According to an article published in Europe PMC in January 2022, Japanese researchers observed that the use of artificial intelligence (AI) in nuclear medicine for oncology is increasing for various purposes such as assisted interpretation(computer-aided detection (CAD) or diagnosis, also AI provides information such as predicting genes and prognosis from images. This is anticipated to fuel the demand for nuclear imaging and medicines for treating various cancers, thereby contributing to the segment's growth.
Similarly, FDG (18 fluorine-2-fluoro-2-deoxy-d-glucose) is the radiopharmaceutical used in oncology PET (positron emission tomography), which shows the enhanced metabolism of malignant cells in comparison to normal cells. This technique can be used for the imaging of lung cancer, lymphoma, head and neck tumors, breast cancer, esophageal cancer, colorectal cancer, and urinary tract tumors.
Furthermore, the companies' rising focus on adopting various key strategies such as collaboration, agreement, and others are expected to increase research and development in the field of nuclear medicine, hence boosting the market's growth. For instance, in January 2021, Fuzionaire Radioisotope Technologies K.K. entered into a feasibility study agreement with Nihon Medi-Physics Co. Ltd (NMP), a Japan-based pharmaceutical company. Under the terms of the agreement, NMP evaluates the ability of Fuzionaire Dx's technology to create a new class of positron emission tomography (PET) radiopharmaceuticals.
Therefore, owing to the aforementioned factors, such as the high burden of cancers, growing technological advancements and the studied segment is anticipated to grow over the forecast period.
Equipment Segment is Expected to Have the Significant Market Share Over the Forecast Period
Nuclear imaging equipment is used in the diagnosis of diseases by using small amounts of radioactive substances in patients and is used in a wide range of medical applications, including cardiology, obstetrics/gynecology, vascular, urology, and other medical applications.
The factors attributing to the segment growth are the increasing burden of chronic diseases such as orthopedic disorders, neurological disorders, and others, as well as the growing technological advancements. For instance, an article published in the Journal of Orthopaedic Science, in September 2021, about 4,052 knee arthroplasties are expected to be performed on men between the ages of 40 and 64 years, 6,942 on men between the ages of 65 and 74 years, 14,986 on men over 75 years in Japan by 2030. In addition, as per the same source, about 7,092 knee arthroplasties are expected to be performed on women between the ages of 40 and 64 years, 22,957 on women between the ages of 65 and 74 years, and 58,340 on women over 75 years in Japan by 2030. Thus, the expected increase in the number of hip surgeries among the population increases the demand for nuclear imaging equipment to effectively diagnose loosening and infection after total hip replacement, hence bolstering the market growth.
Furthermore, the growing key strategies by the companies are also contributing to the segment's growth. For instance, in August 2021, Rigaku Corporation acquired all issued shares of MILabs BV as part of their full-scale effort to enter the life sciences business. Through this acquisition, Rigaku expands its life sciences modality business globally by combining MILabs' multi-modality businesses, including PET (Positron Emission Tomography), SPECT (Single Photon Emission Computed Tomography), Optical Imaging, and CT (Computed Tomography) equipment.
Therefore, owing to the aforementioned factors, the studied segment is anticipated to grow over the forecast period.
Japan Nuclear Imaging Industry Overview
The Japanese Nuclear Imaging market is moderately competitive and consists of a few major players. Some of the key companies in the market include ATOX CO. Ltd, Bracco Imaging SpA, CANON INC., Fujifilm (FUJIFILM Toyama Chemical Co. Ltd), GE Healthcare, IBA Radiopharma Solutions, and JFE Engineering Corporation.
Japan Nuclear Imaging Market Leaders
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Bracco Imaging SpA
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CANON INC.
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Fujifilm (FUJIFILM Toyama Chemical Co. Ltd)
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GE Healthcare
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ATOX
*Disclaimer: Major Players sorted in no particular order
Japan Nuclear Imaging Market News
- Oct 2022: The IAEA redesignated National Institutes for Quantum Science and Technology (QST) as a Collaborating Centre until 2026 for radiation oncology, nuclear medicine and molecular imaging, dosimetry, and science technology and society.
- Aug 2022: PeptiDream Inc., a Japan-based biopharmaceutical company, expanded its strategic partnership with RayzeBio Inc. to discover and develop peptide-radioisotope (RI) conjugates for use as radiopharmaceutical therapeutics. Under the terms of the agreement, RayzeBio grants PeptiDream an option to attain development and commercialization rights in Japan for the joint peptide-RI programs.
- Jan 2021: Fuzionaire Radioisotope Technologies K.K. entered into a feasibility study agreement with Nihon Medi-Physics Co. Ltd, a Japan-based radiopharmaceutical company, to develop and commercialize Fuzionaire Dx's radiopharmaceutical technologies in Japan.
Japan 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 Rise in Prevalence of Cancer and Cardiac Disorders
4.2.2 Increase in Technological Advancements
4.2.3 Growth in the Applications of Nuclear Medicine and Imaging
4.3 Market Restraints
4.3.1 High Cost of Techniques
4.3.2 Short Half-life of Radiopharmaceuticals
4.4 Porter's Five Forces 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 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 Application
5.2.1 SPECT Applications
5.2.1.1 Orthopedics
5.2.1.2 Thyroid
5.2.1.3 Cardiology
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 ATOX CO. Ltd
6.1.2 Bracco Imaging SpA
6.1.3 CANON INC.
6.1.4 Fujifilm (FUJIFILM Toyama Chemical Co. Ltd)
6.1.5 GE HEALTHCARE
6.1.6 IBA Radiopharma Solutions
6.1.7 JFE Engineering Corporation
6.1.8 Koninklijke Philips NV
6.1.9 Nihon Medi-Physics Co. (Sumitomo Chemical Co. Ltd)
6.1.10 Siemens Healthineers
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Japan 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 and cardiac and neurological disorders.
The Japanese Nuclear Imaging Market is Segmented by Product (Equipment and Radioisotope (SPECT Radioisotopes (Technetium-99m (TC-99m), Thallium-201 (TI-201), Gallium (Ga-67), Iodine (I-123), and Other SPECT Radioisotopes) and PET Radioisotopes (Fluorine-18 (F-18), Rubidium-82 (RB-82), and Other PET Radioisotopes), Application (SPECT Applications (Orthopedics, Thyroid, Cardiology, and Other SPECT Applications) and PET Applications (Oncology, Oncology, Neurology, and Other PET Applications). The report offers the value (in USD million) for the above segments.
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Japan Nuclear Imaging Market Research FAQs
How big is the Japan Nuclear Imaging Market?
The Japan Nuclear Imaging Market size is expected to reach USD 325.42 million in 2024 and grow at a CAGR of 4.55% to reach USD 406.51 million by 2029.
What is the current Japan Nuclear Imaging Market size?
In 2024, the Japan Nuclear Imaging Market size is expected to reach USD 325.42 million.
Who are the key players in Japan Nuclear Imaging Market?
Bracco Imaging SpA, CANON INC., Fujifilm (FUJIFILM Toyama Chemical Co. Ltd), GE Healthcare and ATOX are the major companies operating in the Japan Nuclear Imaging Market.
What years does this Japan Nuclear Imaging Market cover, and what was the market size in 2023?
In 2023, the Japan Nuclear Imaging Market size was estimated at USD 311.26 million. The report covers the Japan Nuclear Imaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Nuclear Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Japan Nuclear Imaging Devices Industry Report
Statistics for the 2024 Japan Nuclear Imaging Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Nuclear Imaging Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
