Japan Nuclear Medicine Market - 2024-2031

Overview

The Japan nuclear medicine market reached US$ 550.3 million in 2023 and is expected to reach US$ 2,543.2 million by 2031, growing at a CAGR of 21.2 % during the forecast period 2024-2031.

Nuclear medicine is a medical specialty that utilizes radioactive tracers, known as radiopharmaceuticals, to evaluate bodily functions and diagnose or treat diseases. Specialized imaging cameras enable physicians to monitor the movement of these radioactive tracers within the body. The two most prevalent imaging techniques in nuclear medicine are Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) scans.

SPECT imaging devices generate three-dimensional (tomographic) images showing the distribution of radioactive tracer molecules introduced into a patient's body. These 3D images are created by computer processing a multitude of projection images captured from various angles around the body. SPECT imagers are equipped with gamma camera detectors that can identify the gamma-ray emissions from the tracers that have been administered to the patient.

PET scans also utilize radiopharmaceuticals to generate three-dimensional images. The primary distinction between SPECT and PET scans lies in the types of radiotracers employed. SPECT scans detect gamma rays, whereas the radiotracers used in PET scans produce small particles known as positrons upon decay. A positron is a particle that has a mass similar to that of an electron but carries an opposite charge. These factors have driven Japan nuclear medicine market expansion.

Market Dynamics: Drivers & Restraints

Increasing Prevalence of Cancer and Cardiac Disorders

The increasing prevalence of cancer and cardiac disorders is significantly driving the growth of the Japan nuclear medicine market and is expected to drive throughout the market forecast period.

The increasing incidence of cancer and cardiovascular diseases serves as a significant catalyst for the groth of the nuclear medicine market. As these health conditions become more widespread, there is a rising demand for effective diagnostic and therapeutic options. Nuclear imaging techniques, particularly Positron Emission Tomography (PET) and Single Photon Emission Computed Tomography (SPECT) play a crucial role in the early detection and treatment planning for these diseases.

Japan boasts one of the highest life expectancies globally. The improvement in life expectancy since the mid-20th century, following a decline in mortality from communicable diseases, can be attributed to various factors. These include advanced medical technologies that are accessible due to universal health insurance, public health initiatives like routine health check-ups and screenings for cardiovascular diseases and cancer, and adherence to a traditional diet along with a healthy lifestyle.

However, the challenges posed by cardiovascular diseases and cancer remain significant and are on the rise in Japan. Despite notable improvements in long-term patient outcomes for these conditions, cancer continues to be the leading cause of death, followed closely by cardiovascular diseases. Furthermore, the incidence of these diseases is increasing, particularly among the aging population, raising concerns about cardiovascular complications resulting from cancer treatments that can affect clinical outcomes and quality of life for patients and survivors.

As cancer treatment progresses, the nuclear medicine market is placing greater emphasis on targeted radiopharmaceuticals (TRPs) to tackle a range of oncology and non-oncology applications. TRPs are advanced therapeutic agents that consist of multiple components, including a targeting molecule, linker, chelating agent, and radionuclide, which work together to deliver focused treatment directly to cells that express specific molecular targets.

According to the WHO data in 2022, in Japan, the cancer statistics reveal a significant public health challenge, with 1,005,157 new cases, 426,278 deaths, and 2,741,718 prevalent cases (over the past five years). As the demand for advanced nuclear medicine solutions rises, stakeholders in this market must prioritize innovation, research, and collaboration to effectively address these urgent healthcare needs.

Furthermore, key player's strategies such as partnerships and collaborations would drive the Japan nuclear medicine market. For instance, in March 2023, the International Atomic Energy Agency (IAEA) recently signed an agreement with an 11-member consortium of universities and scientific institutions in Japan as part of its Rays of Hope initiative. This initiative aims to enhance the nuclear medicine workforce across Asia and the Pacific, addressing the growing need for improved cancer care in the region.

Also, in March 2023, Advanced Medical Science-Planning (AMS), a Japanese start-up focused on nuclear medicine, announced a collaborative research initiative with Kyoto University. This partnership aims to introduce Gallium-68 DOTATOC (68Ga-DOTATOC), a radiopharmaceutical that targets somatostatin receptors, into the Japanese healthcare market. All these factors demand the Japan nuclear medicine market.

Moreover, the rising demand for the development of targeted radiopharmaceuticals contributes to Japan nuclear medicine market expansion.

High Cost of Radiopharmaceuticals

The high costs associated with nuclear medicine procedures, including imaging and therapeutic techniques, present a significant barrier to patient accessibility. Nuclear medicine procedures incur various costs, such as those for advanced imaging equipment (like PET and SPECT machines), the production and acquisition of radiopharmaceuticals, and the operational expenses of specialized facilities. The costs for these procedures can range from several hundred to several thousand dollars, depending on their complexity and type. This variability in pricing can discourage patients from pursuing necessary diagnostic tests or treatments.

The average price of diagnostic imaging, radiology, and nuclear medicine equipment is reported to be $58,657. This figure reflects the general cost associated with acquiring various types of imaging technology used in medical diagnostics.

The elevated costs can restrict access for patients, particularly those from lower-income backgrounds or in areas with limited healthcare resources. Many patients may struggle to cover out-of-pocket expenses or may not have sufficient insurance coverage for nuclear medicine procedures, leading to inequities in access to vital diagnostic and therapeutic services.

Nuclear medicine often competes with other imaging techniques like MRI and CT scans, which might be perceived as more affordable options despite their costs. Additionally, the belief that non-radiation-based imaging methods are safer can further decrease demand for nuclear medicine services, especially among cost-sensitive populations. Thus, the above factors could be limiting the Japan nuclear medicine market's potential growth.

Segment Analysis

The Japan nuclear medicine market is segmented based on product type, procedural volume assessment, application, and end-user.

Product Type:

The diagnostics segment is expected to dominate the Japan nuclear medicine market share

The diagnostics segment holds a major portion of the Japan nuclear medicine market share and is expected to continue to hold a significant portion of the Japan nuclear medicine market share during the forecast period.

The diagnostics segment of the Japan nuclear medicine market is a vital area that includes various imaging techniques and radiopharmaceuticals essential for detecting and managing diseases, particularly cancer. This segment prominently features Positron Emission Tomography (PET) and Single Photon Emission Computed Tomography (SPECT), both crucial for accurately identifying tumors, evaluating their progression, and formulating treatment plans.

For instance, F-18 PSMA-1007 PET has emerged as a cutting-edge diagnostic tool specifically designed to detect prostate cancer recurrence and metastasis with high precision. This imaging agent has demonstrated superior detection capabilities compared to traditional methods like CT and bone scintigraphy, underscoring its importance in oncology diagnostics.

Institutions such as St. Luke's MediLocus provide comprehensive PET-CT scan screenings aimed at early cancer detection. These screenings are critical since early diagnosis significantly enhances treatment outcomes. The integration of PET and CT in one system improves imaging quality, facilitating better visualization of tumors.

The ongoing development of new radiopharmaceuticals is expanding the diagnostic capabilities of nuclear medicine. Research into various PET and SPECT tracers is enhancing the visualization of tumor metabolism, receptor activity, and brain function, thereby broadening the scope of nuclear medicine applications.

Furthermore, key players in the country strategies such as partnerships and collaborations would drive this segment growth in the Japan nuclear medicine market. For instance, in October 2024, Curium announced a strategic partnership with PDRadiopharma Inc., a wholly-owned subsidiary of PeptiDream. This collaboration focuses on the clinical development, regulatory filing, and commercialization in Japan of two key radiopharmaceutical agents: 177Lu-PSMA-I&T and 64Cu-PSMA-I&T.

Both agents are designed to target the prostate-specific membrane antigen (PSMA), which is expressed on prostate cancer cells, making them significant for both treatment and diagnostic purposes in prostate cancer management. These factors have solidified the segment's position in the Japan nuclear medicine market.

Competitive Landscape

The major players in the Japan nuclear medicine market include GE Healthcare, Fujifilm (FUJIFILM Toyama Chemical Co. Ltd), Siemens Healthineers, Bracco, CANON MEDICAL SYSTEMS CORPORATION, Nihon Medi-Physics Co. (Sumitomo Chemical Co. Ltd), ATOX CO., Ltd., IBA Radiopharma Solutions, JFE Engineering Corporation, and Koninklijke Philips N.V. among others.

Key Developments

• In November 2024, Akio Ohta, a researcher from Chiyoda Technol Corporation (CTC) in Japan, stated that the company has been collaborating with the National Research and Innovation Agency (BRIN) on the development of extraction technology for Molybdenum-99 (Mo-99) and Technetium-99m (Tc-99m). This collaboration is facilitated through the Japan Atomic Energy Agency (JAEA), indicating a strategic partnership aimed at enhancing the production and availability of these critical isotopes used in nuclear medicine.

Why Purchase the Report?

• Pipeline & Innovations: Reviews ongoing clinical trials, and product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The Japan nuclear medicine market report delivers a detailed analysis with 40+ key tables, more than 30 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2023

• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Procedural Volume Assessment & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
• Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
• Supply Chain: Distribution and Supply Chain Managers.
• Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
• Academic & Research: Academic Institutions.