China Nuclear Imaging - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

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 radioisotopes 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 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 elder 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 radioisotopes 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

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 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 across China, leading to its market growth.

Therefore, the above-mentioned growing prevalence of neurology diseases and developments in neurology application is further expected to improve the market's growth 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 new advancements in the technology of PET, it is expected to have new applications in the field of oncology with significant performance enhancements and helps in driving the market's growth over the forecast period.

China Nuclear Imaging Industry Overview

The market comprises major market players, and these players are moreover focusing on R&D to strengthen their position in the market. The market has been noticing technological developments on a large scale for 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.

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