The Global Market for Nuclear Medicine Imaging Equipment is Projected to Reach US$2.3 Billion by 2022

Growing Physician’s Need for Higher Sensitivity Diagnostic Images Drive the Nuclear Medicine Imaging Equipment Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry trends, growth drivers, market size, and demand forecasts on the global Nuclear Medicine Imaging Equipment market. The global market for Nuclear Medicine Imaging Equipment is projected to reach US$2.3 billion by 2022, driven by the development of disease-specific radiopharmaceuticals, advancement in imaging technologies, and the shift towards hybrid PET/CT imaging from PET-imaging.

Nuclear medicine imaging equipment refers to diagnostic equipment that uses radiotracers in the diagnosis of diseases such as cancer, cardiovascular disease (CVD), and Alzheimer’s disease, among others. Superior attributes of nuclear medicine over other modalities in terms of the ability to detect diseases earlier and provide better understanding of the disease pathology at the molecular level; improved imaging and disease detection; and in post-therapy evaluation of a treatment’s efficacy and to determine the disease prognosis is driving steady market adoption. In addition to inherent benefits, aging population, growing incidence and prevalence of chronic and life-threatening diseases, growing inclination towards early disease detection and improving awareness represent other factors driving growth in the market. Increasing number of disease-specific radiopharmaceuticals is also driving adoption of nuclear imaging techniques while also expanding applications for existing technologies.

Healthy growth is projected for the market in the coming years driven by advancements in imaging technologies aimed at enhancing clinical decision making, reduced radiation dosage, improved comfort through time reduction, and adherence to regulations. Few of the technology advancements that are poised to benefit market prospects in the near term include Full-Body PET Scanner; Wearable PET Scanner for Neurological Imaging; usage of cadmium-zinc-telluride (CZT) semiconductor detectors by gamma cameras; and software advances such as 3D/4D imaging. Fusion technologies such as hybrid PET/CT imaging are expected to become a major driving force for the nuclear medicine market owing to their capability to offer enhanced image quality, sensitivity, and scan speed. SPECT Systems represents the dominant product category supported by their long-term use, dependency, lower cost, favorable reimbursements, wider availability and multiple applications. Higher growth is projected for PET Systems driven by superior sensitivity, increasing number of PET centers, emergence of low-cost variants and expanding applications. Despite the positive outlook, cost of equipment, concerns over radiation exposure and availability of radioisotopes continue to remain major hurdles to market growth.

As stated by the new market research report on Nuclear Medicine Imaging Equipment, the United States represents the largest market worldwide driven by growing awareness about early diagnosis, increasing incidence and prevalence of cancer and other chronic diseases, and expanding applications of nuclear imaging technologies, particularly PET. Asia-Pacific represents the fastest growing market worldwide with a CAGR of 7% through the analysis period. Growing incidence of cancer and cardiovascular diseases, increasing use of nuclear medicine data in disease diagnosis and therapy, rising investments in diagnostic centers and their upgradation, development of novel radiotracers, and emergence of new and advanced scanners represent key growth drivers in the region.

Key players covered in the report include Digirad Corporation, GE Healthcare, Mediso Medical Imaging Systems, Philips Healthcare, Positron Corporation, and Siemens Healthineers, among others.

The research report titled “Nuclear Medicine Imaging Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Nuclear Medicine Imaging Equipment in value terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. Product segments analyzed in the report include SPECT Systems and PET Scanners. Additionally, the report analyzes the global market for PET Scanners by product type (Full Ring PET Scanners, and Partial Ring PET Scanners); by end-user (Hospitals, Diagnostic Centers and Others), and by application (Oncology, Cardiology and Others).

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