Nuclear Imaging Equipment Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2774
Nuclear Imaging Equipment Market size is anticipated to grow significantly during the forecast period from 2018 to 2024.
The nuclear imaging equipment industry should witness significant expansion due to rapidly increased prevalence of chronic conditions including cancer and neurological diseases over the last few years. As per the National Cancer Institute estimates, there will be around 1,735,350 new cases of cancer diagnosed, while 609,640 will die due to the disease in the U.S. in the year 2018. High disease burden and immense need to address it should stimulate industry growth over the forecast period.
Expanding elderly population base susceptible to suffer from several chronic diseases will significantly increase demand for nuclear imaging equipment during the forecast period. Special detection apparatus used in nuclear imaging helps in detection of radioactive substances located in the body. This technique enhances clinical research, medical diagnosis, disease prevention, and treatment. For instance, Positron Emission Tomography (PET) can generate computerized images of chemical alteration such as sugar metabolism in the body tissue; thereby resulting in industry expansion.
Growing awareness about benefits of nuclear imaging among clinical researchers and physicians has escalated its application in detection and treatment of neurological diseases and oncology. Increasing research activities focusing on development of innovative radiopharmaceuticals will further boost business growth over the coming years. However, high cost associated with nuclear imaging will hamper industry growth over the forecast period.
Based on technology, the industry is segmented into PET/CT, PET, SPECT, and SPECT/CT. PET dominated industry in 2017 due to high resolution images provided by PET technology that is majorly used in oncology cases to obtain enhanced information about tumor. Cost-effectiveness of SPECT will significantly drive segment growth over the forecast period.
Based on application, the industry is segmented into neurology, cardiology, oncology and others. Cardiology market segment is anticipated to witness considerable growth over the coming years owing to rising awareness about cardiac disorders, increasing number of people suffering from cardiovascular diseases and growing adoption of sedentary lifestyle and unhealthy diet escalating disease burden.
U.S. nuclear imaging equipment market will grow considerably due to increased prevalence of chronic diseases and high technological adoption. Growing adoption of unhealthy food habits along with physical inactivity has led to rising number of people suffering from cardiovascular diseases and cancer thereby surging demand for the equipment
Rising burden of chronic diseases coupled with healthcare infrastructure development will drive China nuclear imaging equipment market during the projection period. Rising awareness about equipment and its associated benefits among the clinical researchers and physicians has escalated its adoption rate in the country.
Few notable industry players include, Royal Philips Electronics, Medx, Naviscan, Digirad Corporation, Segami Corporation, Cardiarc, Agfa-Gevaert N.V, Covidien, Gamma Medica, Positron Corporation, Spectrum Dynamics and Siemens Healthcare. Industry players focus on new product development with higher resolution and enhanced image quality to escalate their market position and strengthen company’s product offerings.
Nuclear imaging equipment market by technology, 2013-2024 (USD Million)
Nuclear imaging equipment market by application, 2013-2024 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Royal Philips Electronics
- Medx Inc.
- Digirad Corporation
- Segami Corporation
- Cardiarc Ltd.
- Agfa-Gevaert N.V
- Gamma Medica
- Positron Corporation
- Spectrum Dynamics
- Siemens Healthcare
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