Nuclear medicine equipment utilize radioactive substances, which are introduced into the body either intravenously or orally in small quantities, to diagnosis and treat various diseases. These equipment create images by capturing the radiation from these radioactive medicines. This technique is used for early diagnosis of a disease, as it tracks the molecular activities within the body. In addition, it is used to examine immediate response to therapeutic interventions.
The global nuclear medicine equipment market is estimated to reach $2,647 million by 2022 from $2,012 million in 2015, growing at a CAGR of 3.9% from 2016 to 2022. Increase in prevalence of cancer, heart-related diseases, and neurological disorders has given rise to the importance of early disease diagnosis, which is expected to positively impact the market growth. The nuclear medicine equipment market is driven by the availability of high-quality equipment, rise in adoption of nuclear medicine equipment, and emergence of innovative & advanced equipment. However, high cost of these equipment and their short half-life, high hospital expense, and high cost related to diagnostic imaging services hinder the market growth.
The nuclear medicine equipment market is segmented based on product, application, end user, and geography. Based on product, the market is bifurcated into single-photon emission computed tomography (SPECT) and positron emission tomography (PET). SPECT is further segmented into standalone and hybrid SPECT, while PET into standalone and hybrid PET. By application, the market is categorized into cardiology, neurology, oncology, and others. Based on end user, it is classified into hospitals, imaging centers, and academic & research institutes. Geographically, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Saudi Arabia, Republic of South Africa, Argentina, and rest of LAMEA).
The key players in the industry have adopted product launch as their key developmental strategy to expand their market foothold. For instance, in November 2016, Philips launched an advanced visual analysis and quantification platform called IntelliSpace Portal 9.0., which assists radiologists to diagnose and monitor the treatment of neurological diseases, such as multiple sclerosis and dementia.
Key market benefits
This report provides a detailed quantitative analysis of the current market trends from 2014 to 2022 to identify the prevailing opportunities.
Market estimations provided in the report are based on comprehensive analysis of the key developments in the industry.
The global market is comprehensively analyzed with respect to product type, application, end user, and geography.
In-depth analysis based on geography helps in understanding the regional market to assist in strategic business planning.
The recent developments and strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
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Key market segments
Single-Photon Emission Computed Tomography (SPECT)
Positron Emission Tomography (PET)
By End User
Academic & Research Institutes
By Geography: North America, U.S., Canada, Mexico, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Asia-Pacific, Japan, China, Australia, India, Rest of Asia-Pacific, LAMEA, Brazil, Turkey, Saudi Arabia, Republic of South Africa, Argentina, Rest of LAMEA
The key players in the global nuclear medicine equipment market include:
General Electric Company
Koninklijke Philips N.V.
Mediso Medical Imaging Systems, Ltd.
Compañía Mexicana de Radiología CGR, S.A de C.V.
The other players include (companies not profiled in the report):
CMR Naviscan Corporation
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