Nuclear Imaging Equipment Market - Size, Share, Outlook, and Analysis, 2018-2026

Increasing adoption of nuclear imaging equipment in healthcare settings is attributed to benefits of nuclear imaging equipment in improving selection therapy and monitoring patient response for a specific treatment. Furthermore, Medicare and private insurance companies cover the cost of various nuclear imaging procedures, thereby increasing the adoption rate of the equipment in emerging economies. Increasing prevalence of cardiovascular diseases also propels demand for nuclear imaging. Cardiovascular diseases require diagnostic tests to identify heart disease, severity of prior heart attacks, and the risk of future heart attacks. According to a report by the Centers for Disease Control and Prevention (CDC), 2015, around 800,000 people in the U.S. die due to stroke and other cardiovascular diseases.

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The global nuclear imaging equipment market is expected to witness significant growth over the forecast period. This is owing to increasing use of nuclear imaging in early detection of Alzheimer’s disease. According to BrightFocus Foundation Factsheet, 2017, around 46.8 million people are living with Alzheimer's disease, and the number is projected to increase to nearly 74.7 million by 2030.

Moreover, product launch and approvals is also expected to boost the market growth over the forecast period. For instance, in July 2018, Siemens Healthineers received FDA Clearance for syngo.via VB30 Molecular Imaging Software. The software offers additional features and advanced clinical capabilities to PET imaging in neurology and oncology by providing a unique platform for viewing and interpreting parametric PET images, thereby saving time and increasing efficiency of clinicians.

Moreover, in 2017, Neusoft Medical Systems Co., Ltd. launched – NeuSight PET/CT— an imaging system that offers low dose exquisite images for an accurate diagnostic information.

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Key players in the global nuclear imaging equipment market are focused on new product launch to enhance their market share. For instance, in May 2018, the Food and Drug Administration (FDA) cleared— Biograph Vision— a positron emission tomography/computed tomography system developed by Siemens Healthineers. The system helps to reduce scan time to improve patient throughput and also reduces patient radiation exposure and tracer cost.

Major players operating in the global nuclear imaging equipment market include, Siemens Healthineers, Koninklijke Philips N.V.,GE Healthcare, Toshiba Medical Systems Corporation, Neusoft Medical Systems Co., Ltd., Mediso Medical Imaging Systems Co., Ltd., CMR Naviscan Corporation, Digirad Corporation, SurgiEye GmbH, and Positron Corporation

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For instance, in October 2018, the Center for Quantitative Cancer Imaging at Huntsman Cancer Institute (HCI), University of Utah, installed— nanoScan PET/MRI 3T preclinical in vivo imaging system for screening rodent tumor models. Furthermore, increasing prevalence of cancer in North America is expected to propel demand for nuclear imaging equipment over the forecast period. A report by the National Cancer Institute projected around 1,735,350 new cases of cancer and 609,640 deaths due to the disease in the U.S in 2018.

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