Market Size of China Nuclear Imaging Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 348.26 Million |
| Market Size (2029) | USD 425.96 Million |
| CAGR (2024 - 2029) | 4.11 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Nuclear Imaging Market Analysis
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.
