Market Trends of Middle East and Africa Nuclear Imaging Industry
This section covers the major market trends shaping the Middle East Nuclear Imaging Market according to our research experts:
Oncology Segment is Expected to Grow at a Higher CAGR During the Forecast Period
The major factors responsible for the growth of this segment include the rise in the prevalence of cancers that require advanced diagnostics like PET/CT scans. According to the Global Cancer Observatory (Globocan) Statistics 2020, the 5-year prevalence of all types of cancers in both sexes was 2,166,740 in Africa. It has also been reported that out of these cases, 1,298,101 cases were reported in females, and 868,639 cases were reported in males of all ages. Such a large prevalence of cancer is expected to drive the growth of the market during the forecast period. The same source also reported the 5-year prevalence of cancer cases in Saudi Arabia. There were about 82,640 cases of all types of cancer in both sexes, out of which 39,241 cases were reported in males and 43,399 cases in females in 2020.
The fluorodeoxyglucose (FDG)-positron emission tomography (PET)/CT is more sensitive than a contrast-enhanced CT scan in staging several types of lymphoma or detecting tumor dissemination in several solid cancers, such as breast cancer, lung cancer, and colon cancer. Further launch of awareness campaigns for creating awareness regarding cancer in the country will also increase the demand for cancer diagnostic modalities, thereby augmenting the market. For instance, in October 2021, the Ministry of Health (MOH) launched an awareness campaign on early screening of breast cancer, which is the most common cancer among Saudi women. Hence, due to the abovementioned factors, the oncology segment of the market is expected to witness growth over the forecast period.
South Africa is Expected to Hold Significant Share of the Market Over the Forecast Period
Factors such as the increasing prevalence of diseases and the increasing geriatric population and research studies are expected to increase the market growth. For instance, according to Globocan 2020, it is estimated that 175,102 new cancer cases will be diagnosed in South Africa by 2040. The demand for nuclear imaging for cancer detection and diagnosis is expected to expand with the country's rising prevalence of cancer.
The burden of chronic diseases is expected to rise as the country's geriatric population grows, driving the growth of the nuclear medicine market. For instance, the United Nations Population Fund's World Population Dashboard's Statistics 2021 showed that in South Africa, 65.8% of the population is between the ages of 15 and 64, while 5.6% is 65 or older.
According to an article published by the International Atomic Energy Agency in February 2022, the IAEA is assisting African countries in developing expertise through education and training programs, as well as facilities to locally produce radiopharmaceuticals, which in many cases have a short shelf life and must be used soon after production. Thus, the category is predicted to develop throughout the forecast period due to the abovementioned factors.
