According to the report published by Allied Market Research, the global nuclear medicine equipment market is estimated to reach $2.64 billion by 2022, from $2.01 billion in 2015, registering a CAGR of 3.9% from 2016 to 2022. The oncology segment accounted for more than two-thirds of the total share of the market in 2015.
Nuclear medicine equipment including PET/CT and SPECT scans are utilized for collect radiation from small radioisotopes that reside into the body. This equipment thus helps in carrying out diagnosis of diseases and analyze the treatment response to the patient. The crucial factors driving the growth of the market include advent of advanced equipment, surge in prevalence of cardiovascular diseases and cancer, increase in investment in modernization of diagnostic imaging centers, and radiotracers developments.
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The oncology segment is anticipated to maintain its leadership position during the forecast period, owing to the surge in incidence of cancer and rise in awareness regarding early diagnosis. However, the neurology segment is expected to register the highest growth rate as this equipment can be utilized for diagnosis and assessment of the treatment response to different neurological disorders including Alzheimer’s disease, vascular dementia, brain death/injury, stroke & transient ischemic attack, and others.
The hospitals segment accounted for nearly two-fifths of the total market share in 2015, and is estimated to maintain its position during the forecast period. This is due to the growth of the number of patients in hospitals with increase in the occurrence of chronic diseases. Based on region, North America contributed the highest market share in the market in 2015, and is expected maintain its leadership position in the future. This is due to the presence of huge geriatric population, advancements in technology, supportive imbursement policies, and affordability for buying modern and expensive equipment.
Key Findings of the Report:
- The hybrid PET segment is expected to register the highest growth rate during the forecast period.
- Argentina nuclear medicine equipment market is expected to register a CAGR of 6.0% throughout the forecast period.
- The oncology segment contributed the highest market share in the global nuclear medicine equipment market in 2015.
- The U.S. held the major market share in 2015, and is expected to lead by 2022.
- The hospitals segment is estimated to maintain its dominant position throughout 2022.
Leading market players operating in the global nuclear medicine equipment market include General Electric Company, Siemens Aktiengesellschaft, Koninklijke Philips N.V., Mediso Medical Imaging Systems, Ltd., Digirad Corporation, Bozlu Holding, Toshiba Corporation, Compaa Mexicana de Radiologa CGR, S.A. de C.V., Neusoft Corporation, and SurgicEye GmbH. They have adopted various strategies including expansion, collaborations, partnership, mergers & acquisitions, and others to gain a strong position and make international presence.
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