South America Nuclear Imaging Market Size (2024 - 2029)

The South America Nuclear Imaging Market is projected to experience growth over the forecast period, driven by increasing diagnostic applications for diseases such as cancer and cardiovascular conditions, along with government support and a transition from standalone to hybrid modalities. Despite its expanding role in inpatient management processes, including diagnosis and therapy delivery, the market faces challenges due to issues like inadequate reimbursement, a shortage of radioisotopes, and stringent regulations.

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Market Size of South America Nuclear Imaging Industry

CAGR
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 419.72 Million
Market Size (2029) USD 485.85 Million
CAGR (2024 - 2029) 2.97 %

Major Players

South America Nuclear Imaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

South America Nuclear Imaging Market Analysis

The South America Nuclear Imaging Market size is estimated at USD 419.72 million in 2024, and is expected to reach USD 485.85 million by 2029, growing at a CAGR of 2.97% during the forecast period (2024-2029).

The factors that are propelling the growth of the South American market include increasing diagnostic applications in various diseases, such as cancer and cardiovascular diseases, government support, and a shift from standalone to hybrid modalities, and a rise in prevalence of cancer and cardiac disorders in the region. 

Nuclear imaging has applications at various stages of inpatient management processes, such as diagnosis, staging, therapy delivery, and its follow-ups. The primary role of imaging has been diagnostics, but it is increasing slowly for interventional diagnostics and therapeutic uses. However, the lack of proper reimbursement, shortage of the radioisotopes, stringent regulations restraint the market growth in the region.

South America Nuclear Imaging Industry Segmentation

As per the scope of the 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. They are small substances that contain a radioactive substance that is used in the treatment of cancer, cardiac, and neurological disorders.

By Product Type
Equipment
Radioisotope
SPECT Radioisotopes
Technetium-99m (TC-99m)
Thallium-201 (TI-201)
Gallium (Ga-67)
Iodine (I-123)
Other SPECT Radioisotopes
PET Radioisotopes
Fluorine-18 (F-18)
Rubidium-82 (RB-82)
Other PET Radioisotopes
By Application
SPECT Applications
Cardiology
Neurology
Thyroid
Other SPECT Applications
PET Applications
Oncology
Cardiology
Neurology
Other PET Applications
Geography
South America
Brazil
Argentina
Rest of South America
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South America Nuclear Imaging Market Size Summary

The South America Nuclear Imaging Market is poised for growth, driven by an increasing demand for diagnostic applications in diseases such as cancer and cardiovascular disorders. This growth is supported by government initiatives and a transition from standalone to hybrid imaging modalities. Nuclear imaging plays a crucial role in various stages of patient management, including diagnosis, staging, therapy delivery, and follow-ups. While its primary function has been diagnostic, there is a gradual shift towards interventional diagnostics and therapeutic applications. However, the market faces challenges such as inadequate reimbursement, a shortage of radioisotopes, and stringent regulatory requirements, which could hinder its expansion.

The market landscape is characterized by a competitive environment with a few major players holding significant market shares. Companies like Canon Medical Systems Corporation, Bracco Imaging SpA, GE Healthcare, Koninklijke Philips NV, and Siemens Healthineers are key participants, employing strategies such as agreements, collaborations, business expansions, and product developments to maintain their dominance. The rising prevalence of cancer, particularly in Brazil, where it is a leading cause of death, underscores the growing need for advanced nuclear imaging techniques. Innovations like the FDG-PET/CT and the use of sophisticated software for PET scans are enhancing diagnostic sensitivity and offering new prognostic markers, further propelling market growth.

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South America Nuclear Imaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rise in Prevalence of Cancer and Cardiac Disorders

      2. 1.2.2 Increase in Technological Advancements

    3. 1.3 Market Restraints

      1. 1.3.1 Limited Reimbursement and Stringent Regulatory Procedures

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Equipment

      2. 2.1.2 Radioisotope

        1. 2.1.2.1 SPECT Radioisotopes

          1. 2.1.2.1.1 Technetium-99m (TC-99m)

          2. 2.1.2.1.2 Thallium-201 (TI-201)

          3. 2.1.2.1.3 Gallium (Ga-67)

          4. 2.1.2.1.4 Iodine (I-123)

          5. 2.1.2.1.5 Other SPECT Radioisotopes

        2. 2.1.2.2 PET Radioisotopes

          1. 2.1.2.2.1 Fluorine-18 (F-18)

          2. 2.1.2.2.2 Rubidium-82 (RB-82)

          3. 2.1.2.2.3 Other PET Radioisotopes

    2. 2.2 By Application

      1. 2.2.1 SPECT Applications

        1. 2.2.1.1 Cardiology

        2. 2.2.1.2 Neurology

        3. 2.2.1.3 Thyroid

        4. 2.2.1.4 Other SPECT Applications

      2. 2.2.2 PET Applications

        1. 2.2.2.1 Oncology

        2. 2.2.2.2 Cardiology

        3. 2.2.2.3 Neurology

        4. 2.2.2.4 Other PET Applications

    3. 2.3 Geography

      1. 2.3.1 South America

        1. 2.3.1.1 Brazil

        2. 2.3.1.2 Argentina

        3. 2.3.1.3 Rest of South America

South America Nuclear Imaging Market Size FAQs

The South America Nuclear Imaging Market size is expected to reach USD 419.72 million in 2024 and grow at a CAGR of 2.97% to reach USD 485.85 million by 2029.

In 2024, the South America Nuclear Imaging Market size is expected to reach USD 419.72 million.

South America Nuclear Imaging Report Snapshots

South America Nuclear Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)