South Korea Nuclear Imaging Market Insights Forecasts to 2033

• The South Korea Nuclear Imaging Market Size was valued at USD 108.35 Million in 2023.
• The Market Size is Growing at a CAGR of 3.14% from 2023 to 2033.
• The South Korea Nuclear Imaging Market Size is Expected to Reach USD 148.92 Million by 2033.

The South Korea Nuclear Imaging Market Size is Expected to Reach USD 148.92 Million by 2033, at a CAGR of 3.14% during the forecast period 2023 to 2033.

Market Overview

Nuclear imaging examines the structures and functions of many organs and tissues. It is necessary to introduce a small amount of a radioactive substance called a radioactive substance into the bloodstream. As a radiation sensor moves through the area or gathers to provide a reading in the form of gamma rays, the body structure is examined. These gamma rays are detected by an instrument and projected onto a digital system. Certain diseases, such as cancer and cardiovascular disease, can be detected in their early stages using nuclear medicine imaging, which is difficult to obtain using surgical procedures. Certain diseases, such as cancer and cardiovascular disease, can be detected in their early stages using nuclear medicine imaging, which is difficult to obtain using surgical procedures. Except for intravenous administration, all other methods of administration for nuclear medicine imaging are noninvasive. Nuclear imaging devices generate images by using radioactive substances or tracers; these images assist doctors and clinicians in detecting and diagnosing diseases. Nuclear imaging technology is used in oncology, cardiology, neurology, and other fields. Nuclear imaging is a new imaging technique that employs small amounts of radioactive substances that bind to compounds used by cells in the body or compounds that bind to tumor cells.

Report Coverage

This research report categorizes the market for South Korea nuclear imaging market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korean nuclear imaging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea nuclear imaging market.

Driving Factors

The increasing prevalence of chronic diseases such as heart disease and cancer is the primary driver of market growth. The rising prevalence of chronic diseases is expected to boost the market for nuclear imaging equipment. Furthermore, increased innovations in nuclear imaging equipment as well as research grants are expected to drive market growth. Furthermore, increased funding for the development of advanced nuclear imaging equipment will drive market growth.

Restraining Factors

High installation and operating costs, as well as product recalls, are expected to limit nuclear imaging system adoption in small and medium-sized hospitals, hindering the growth of the nuclear imaging market.

Market Segment

• In 2023, the positron emission tomography segment accounted for the largest revenue share over the forecast period.

Based on the product, the South Korea nuclear imaging market is segmented into positron emission tomography, single-photon emission computed tomography, and planar scintigraphy systems. Among these, the positron emission tomography segment has the largest revenue share over the forecast period. A SPECT scan is a type of imaging test that shows how blood flows to tissues and organs. It can be used to detect seizures, strokes, stress fractures, infections, and spinal tumors. A tracer is injected into the bloodstream before the SPECT scan. The tracer is radiolabeled, emitting gamma rays that a CT scanner can detect. The information emitted by the gamma rays is collected by the computer and displayed on CT cross-sections. These cross-sections can be combined to form a 3D image of the brain.

• In 2023, the cardiology segment accounted for a significant revenue share over the forecast period.

Based on application, the South Korea nuclear imaging market is segmented into oncology, cardiology, neurology, and others. Among these, the cardiology segment has a significant revenue share over the forecast period. Cardiology is the study and treatment of diseases that affect the circulatory system, such as the heart and blood vessels. Cardiac nuclear medicine is also used to assess cardiomyopathy and detect potential heart damage from chemotherapy or radiotherapy. Such advantages of nuclear imaging for diagnosis are likely to contribute to the segment's growth over the forecast period. The cancer screening methods provided by nuclear medicine equipment will drive the nuclear imaging market forward.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea nuclear imaging market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• DuChemBIO Co. Ltd
• FutureChem
• GE Healthcare
• IBA Radiopharma Solutions
• KAERI (Korea Atomic Energy Research Institute)
• KIRAMS (Korea Institute of Radiological & Medical Sciences)
• NuCare Inc.
• Samyoung Unitech
• Siemens Healthineers
• General
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In June 2022, The Society of Nuclear Medicine and Molecular Imaging (SNMMI) announced the launch of the Mars Shot Fund, a USD 100.0 million fundraising initiative to support nuclear medicine, molecular imaging, and therapy research.

• In January 2022, Positron Corporation formed a strategic partnership with Neusoft Medical Systems to manufacture, distribute, and advance the research and development of Positron's new PET/CT nuclear imaging device.

Market Segment

This study forecasts revenue at regional, and country levels from 2023 to 2033. Spherical Insights has segmented the South Korea Nuclear Imaging Market based on the below-mentioned segments:

South Korea Nuclear Imaging Market, By Product

• Positron Emission Tomography
• Single-photon Emission Computed Tomography
• Planar Scintigraphy Systems

South Korea Nuclear Imaging Market, By Application

• Oncology
• Cardiology
• Neurology
• Others