Rise in incidence of cancer and cardiovascular diseases, and the need for early diagnosis of these diseases boosts the market growth. In addition, the hospitals segment is expected to dominate other segments as the number of patients visiting hospitals has increased. Moreover, hospitals have the capital required to purchase such expensive equipment.
Nuclear Medicine Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to reach $2,647 million by 2022 from $2,012 million in 2015 with a CAGR of 3.9% from 2016 to 2022. Oncology segment held more than two-thirds share of the global market in 2015.
Nuclear medicine utilizes radionuclides, which are unstable atoms that emit radiation spontaneously, to examine and treat diseases such as, cancer, cardiovascular, and others. Radionuclides are cleaned and compounded like other drugs to form radiopharmaceuticals. Nuclear medicine imaging offers information at the molecular and cellular level in the body with the help of uptake of radiotracers by the tissues.
Oncology is anticipated to dominate the global nuclear medicine equipment market throughout the analysis period, owing to the rise in incidence of cancer and increase in awareness about its early diagnosis. Neurology segment has witnessed highest growth rate as these equipment are used to diagnose and assess the treatment response for various neurological disorders such as Alzheimers disease, brain death/injury, vascular dementia, stroke and transient ischemic attack, and others.
Get the PDF brochure of this market study: https://www.alliedmarketresearch.com/request-sample/1828
Hybrid PET segment is projected to grow at the highest rate during the analysis period. Argentina nuclear medicine equipment market is estimated to grow at a CAGR of 6.0%. Oncology dominated the global nuclear medicine equipment market in 2015. U.S. was the largest market in 2015, and is projected to maintain its lead until 2022. Hospitals segment is projected to dominate throughout 2022.
The market growth is driven by the emergence of latest and advanced products, development in clinics and centers for diagnostic imaging, advancement in radiotracers, and increase in number of patients with cancer and cardiac ailments. However, factors such as shorter half-life of radiopharmaceuticals and high cost of nuclear imaging equipment, coupled with unfavorable reimbursement initiatives, restrict market growth in developing regions.
Major players in the nuclear medicine equipment industry have adopted product launch as their key developmental strategy to expand their market foothold. For instance, in October 2016, Siemens Healthineers launched xSPECT Quant technology, which enables quantification of three additional isotopes using Symbia Intevoystem; this was a major evolution of SPECT/CT.
Key players profiled in this report are General Electric Company, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Digirad Corporation, Mediso Medical Imaging Systems, Ltd., Toshiba Corporation, Bozlu Holding, Neusoft Corporation, Compañía Mexicana de Radiología CGR, S.A de C.V., and SurgicEye GmbH. Other players operating in this market include CMR Naviscan Corporation, DDD-Diagnostic A/S, Positron Corporation, and TeraRecon, Inc.