UK Nuclear Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

UK Nuclear Imaging Market Analysis

The United Kingdom Nuclear Imaging Market size is estimated at USD 350.43 million in 2024, and is expected to reach USD 419.43 million by 2029, growing at a CAGR of 3.66% during the forecast period (2024-2029).

United Kingdom suffered disruptions in the supply chain of necessary radiopharmaceuticals such as Technetium-99m and 2-deoxy-2-[18F]fluoro-glucose (FDG) which are used for the majority of SPECT and PET imaging procedures and conventional nuclear imaging studies as the nonessential cargo flights were taking off abiding by the country's government rules thus impacting the market. Besides the negative impact of COVID-19, it has created an opportunity for players in this field to establish their presence by launching new products or progressing clinical studies in this field. For instance, in November 2020, NanoMab Technology Limited, received CTA Acceptance from the Medicines Healthcare products Regulatory Agency (MHRA) to carry out a Phase II clinical Study for its NM-01 product. This study will assess the programmed death ligand 1 (PD-L1) expression using 99mTc-NM-01 as a SPECT/CT radiotracer and its correlation to PD-L1 expression results based on routine immunohistochemical (IHC) testing in biopsy diagnostic specimens.

Factors such as increasing preference for SPECT and PET scans, advances in nuclear imaging, rising targeted cancer treatment, and increasing incidence and mortality rate of cancer and cardiovascular diseases are driving the growth in the United Kingdom. According to the British Heart Foundation's Report titled 'UK Factsheet' published in July 2021, reports that there are 7.6 million people in the United kingdom that are living with heart and circulatory diseases. Also, the same source reports that in the United Kingdom, heart and circulatory diseases causes more than 160,000 deaths each year which is a quarter of all deaths in the region. Due to the high mortality, people are becoming more concerned about diagnosis of cardiovascular diseases across the country. Thus, with such a high burden of heart diseases, there is growing need for the for treatment, monitoring and diagnostic devices in the region which is ultimately contributing to the growth of nuclear imaging market as importance of nuclear imaging is increasing in diagnosing chronic diseases.

UK Nuclear Imaging Market Trends

This section covers the major market trends shaping the UK Nuclear Imaging Market according to our research experts:

Oncology Holds Significant Share in Application Segment

UK Nuclear Imaging Industry Segmentation

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 United Kingdom Nuclear Imaging market is segmented by Product (Equipment, Diagnostic Radioisotope), and Application (SPECT Applications, PET Applications). The Report offers the value (in USD million) for the above segments.