Nuclear Medicine Equipment Market Key Developments and Current Trends 2014-2022
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.
Key players in the global nuclear medicine equipment market include General Electric Company, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Digirad Corporation, Mediso Medical Imaging Systems, Ltd., Toshiba Corporation, Bozlu Holding, Neusoft Corporation, Compaa Mexicana de Radiologa CGR, S.A. de C.V., and SurgicEye GmbH.
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Nuclear medicine equipment, such as PET/CT and SPECT scans, are used to capture radiation from small amount of radioisotopes that are introduced into the body. These equipment thus help to diagnose diseases and assess the response of treatment provided to the patient. The major factors that drive the market growth are emergence of new and advanced equipment, increase in prevalence of cancer and cardiovascular diseases, rise in investment in modernization of diagnostic imaging centers, and development of radiotracers.
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.
Hospitals dominated with around two-fifths of the global market value in 2015, and are expected to continue this trend during the forecast period. The number of patients visiting hospitals is growing to due increase in the occurrence of chronic diseases, which has fueled the market growth for this segment.
North America dominated the market in 2015, and is maintain its position in the future, due to the presence of a large geriatric population, technological advancements, availability of favorable imbursement policies, and affordability to purchase modern and expensive nuclear medicine equipment.
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This report provides a detailed quantitative analysis of the current nuclear medicine equipment market trends from 2014 to 2022 to identify the prevailing opportunities. The market estimations are based on comprehensive analysis of the key developments in the nuclear medicine equipment industry. The global nuclear medicine equipment industry is comprehensively analyzed with respect to product type, application, end user, and geography In-depth analysis of the market size 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 market scenario.
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.