Molecular Imaging (MI) Equipment Growth Opportunities

Development of Novel Radiopharmaceuticals and Technical Advancements in AI and Hybrid Systems Fuel the Growth Pipeline

This research study presents an analysis of and growth opportunities for the global molecular imaging (MI) equipment market. It offers an in-depth analysis of the current trends, market size, revenue forecast (2022-2026), and market penetration of PET/CT, PET/MRI, SPECT, and SPECT/CT systems.

Each year, more than 36 million MI procedures are performed globally, increasing annually by 4 to 6%. However, problems such as exposure to radiation, longer scan time, and delayed diagnosis of diseases have emerged, drawing manufacturers’ attention to technology and equipment enhancements that reduce radiation dose while improving patient comfort during a scan. Other factors driving the evolution of MI equipment include an increase in the number of patients with cancer, cardiac diseases, and neurological ailments.

In 2020, the MI equipment market experienced a decline at the global level due to the supply challenges caused by the COVID-19 pandemic. However, a trend toward a return to the pre-pandemic status of the supply chains for MI equipment was evident in the last quarter of 2020, which resulted in clearing back-logs of equipment sales and significant increase in revenue from the year 2020 to 2021.

Increased demand for radio pharmaceuticals that are used in MI resulted in the in-house production of radioisotopes using local cyclotrons. Development of novel radioisotopes is expected to increase the use of MI equipment for new clinical applications including Alzheimer's, melanomas, and prostate cancers.