South Africa Nuclear Imaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 67.45 Million |
| Market Size (2029) | USD 77.30 Million |
| CAGR (2024 - 2029) | 2.76 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South Africa Nuclear Imaging Market Analysis
The South Africa Nuclear Imaging Market size is estimated at USD 67.45 million in 2024, and is expected to reach USD 77.30 million by 2029, growing at a CAGR of 2.76% during the forecast period (2024-2029).
According to a study titled 'Nuclear Medicine Operations in the Times of COVID-19: Strategies, Precautions, and Experiences' published in the Journal of Nuclear Medicine in May 2020, the nuclear medicine staff in the country have been instructed to have refresher courses on infection control management and basic emergency management. South Africa saw a reduction in the clinical service for nonurgent scans, and inpatient and urgent outpatient studies, especially in oncology. The country had an inbuilt supply of many radioisotopes, as the country has nuclear reactors from Jubilant Pharmova and therefore was not affected by shortages of radiopharmaceuticals, but the country was dependent on overseas supply for many kits and reagents and the shutdown of airline flights have caused shortages for those kits and reagents.
However, COVID-19 has opened many opportunities for the market players in the industry to identify and tap the market and expand their operations to generate revenue for their company. For instance, In 2020, Jubliant Pharmova, one of the provoders of radiopharmaceuticals, started its own office in South Africa as part of its long-term plan of going direct to market with its own sales team. This will bring investment in the South African economy thus improving the country's economic condition.
Nuclear imaging is hugely capable of diagnosing cancer and cardiac diseases. Nuclear medicine scans ( also known as nuclear imaging, radionuclide imaging, and nuclear scans) can help doctors find tumors and see how much cancer has spread in the body. Cardiac nuclear medicine imaging evaluates the heart for coronary artery disease and cardiomyopathy (diseases of the heart muscle). It also may be used to help determine whether the heart has been damaged by chemotherapy or radiotherapy. Additionally, as per the 2021 data from International Society for Optics and Photonics, South Africa is rapidly acquiring high-tech medical imaging equipment such as multi-slice helical computed tomography (CT) scanners, as well as hybrid imaging technologies like combining single photon emission computed tomography and positron emission tomography with CT. This adoption of nuclear imaging equipment is expected to boost the market growth in South Africa over the forecast period.
South Africa Nuclear Imaging Market Trends
This section covers the major market trends shaping the South Africa Nuclear Imaging Market according to our research experts:
SPECT Radioisotopes are Expected to Witness Strong Growth Over the Forecast Period
South Africa is found to be a global hotspot for technological advancements, which is leading to the expansion of hospitals, clinics, and diagnostic centers and the adoption of new equipment and technologies. For instance, in December 2020, Telix Pharmaceuticals Limited and DuChemBio Co, Ltd., a South Africa-based radiopharmaceutical company went into an agreement for commercialization and partnership for Telix's prostate cancer imaging product TLX591-CDx (68GaPSMA-11).
SPECT radioisotopes are gaining attention in South Africa owing to their significance in diagnostics. For instance, the article 'Lung perfusion findings on perfusion SPECT/CT imaging in non-hospitalized de-isolated patients diagnosed with mild COVID-19 infection', published in 2021 stated that the value of VQ SPECT/CT imaging is used in detecting and differentiating the various types of perfusion abnormalities.
Moreover, as per the World Nuclear Association 2021, South Africa is considered as world's sixth main producer of radioisotopes. In addition, it comes at the third position in producing medical nuclear isotope Mo-99. As of the year 2022, the department of Nuclear Medicine at the University of Pretoria is collaborating with several international organizations and institutes to promote nuclear imaging tools for diagnosis as it has several applications in the diagnosis and treatment of many chronic disorders. Some of the international collaboration institutes include the University of Ghent, Belgium, European Commission DG Joint Research Centre, and University Medical Centre Groningen, Holland.
Therefore, owing to the above-mentioned factors, it is believed that the segment will witness strong growth in the coming years.
South Africa Nuclear Imaging Industry Overview
The nuclear imaging market is highly competitive and consists of a few major players. In terms of market share, few of the major players currently dominate the market. Companies, like Bracco Imaging SpA, Curium, Cardinal Health Inc., Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers, among others, hold the substantial share in the market.
South Africa Nuclear Imaging Market Leaders
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Bracco Imaging Spa
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GE Healthcare
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Siemens AG
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Koninklijke Philips N.V.
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Canon Medical Systems
*Disclaimer: Major Players sorted in no particular order
South Africa Nuclear Imaging Market News
- In November 2021, Life Healthcare Group, a healthcare organization in South Africa, and the AXIM Group of Companies, Sub-Saharan Africa's medical equipment, device, and consumable distributor, have signed a head of terms agreement to form a joint venture to establish a cyclotron based radiopharmacy business across South and Southern Africa.
- In May 2021, GE Healthcare Nigeria Sovereign Investment Authority (NSIA) Banque Côte d'Ivoire partnered with International Finance Organization's (IFC) Africa Medical Equipment Facility to provide essential medical equipment.
South Africa Nuclear Imaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Cancer and Cardiac Disorders
- 4.2.2 Technological Advancements in Nuclear Imaging
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4.3 Market Restraints
- 4.3.1 Stringent Regulations
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Equipment
- 5.1.2 Diagnostic Radioisotope
- 5.1.2.1 SPECT Radioisotopes
- 5.1.2.2 PET Radioisotopes
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5.2 By Application
- 5.2.1 SPECT Applications
- 5.2.1.1 Cardiology
- 5.2.1.2 Neurology
- 5.2.1.3 Thyroid
- 5.2.1.4 Other SPECT Applications
- 5.2.2 PET Applications
- 5.2.2.1 Oncology
- 5.2.2.2 Cardiology
- 5.2.2.3 Neurology
- 5.2.2.4 Other PET Applications
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Canon Medical Systems Corporation
- 6.1.2 Fujifilm Holdings Corporation
- 6.1.3 GE Healthcare
- 6.1.4 Koninklijke Philips NV
- 6.1.5 Siemens Healthineers
- 6.1.6 Curium
- 6.1.7 Klydon
- 6.1.8 Bracco Group
- 6.1.9 NTP Radioisotopes SOC Ltd
- 6.1.10 Bayer AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Africa Nuclear Imaging Industry Segmentation
As per the scope of this report, Nuclear medicine imaging procedures are non-invasive, with the exception of intravenous injections, and are usually painless medical tests that help physicians diagnose and evaluate medical conditions. These imaging scans use radioactive materials called radiopharmaceuticals or radiotracers. These radiopharmaceuticals are used in diagnosis and therapeutics. South Africa Nuclear Imaging Market is segmented by Product (Equipment, Diagnostic Radioisotopes), and Application (SPECT Applications, PET Applications). The report offers the value (in USD million) for the above segments.
| By Product | Equipment | |
| Diagnostic Radioisotope | SPECT Radioisotopes | |
| PET Radioisotopes | ||
| By Application | SPECT Applications | Cardiology |
| Neurology | ||
| Thyroid | ||
| Other SPECT Applications | ||
| By Application | PET Applications | Oncology |
| Cardiology | ||
| Neurology | ||
| Other PET Applications |
South Africa Nuclear Imaging Market Research FAQs
How big is the South Africa Nuclear Imaging Market?
The South Africa Nuclear Imaging Market size is expected to reach USD 67.45 million in 2024 and grow at a CAGR of 2.76% to reach USD 77.30 million by 2029.
What is the current South Africa Nuclear Imaging Market size?
In 2024, the South Africa Nuclear Imaging Market size is expected to reach USD 67.45 million.
Who are the key players in South Africa Nuclear Imaging Market?
Bracco Imaging Spa, GE Healthcare, Siemens AG, Koninklijke Philips N.V. and Canon Medical Systems are the major companies operating in the South Africa Nuclear Imaging Market.
What years does this South Africa Nuclear Imaging Market cover, and what was the market size in 2023?
In 2023, the South Africa Nuclear Imaging Market size was estimated at USD 65.64 million. The report covers the South Africa Nuclear Imaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Africa Nuclear Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Africa Nuclear Imaging Industry Report
Statistics for the 2024 South Africa Nuclear Imaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Africa Nuclear Imaging analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
