Market Size of United Kingdom Nuclear Imaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 350.43 Million |
| Market Size (2029) | USD 419.43 Million |
| CAGR (2024 - 2029) | 3.66 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
