The global nuclear imaging equipment market size is expected to reach USD 3.5 billion by 2028, registering a CAGR of 4.6% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are increasing focus on personalized medicines and technological advancements in radiotracers. Furthermore, demand growth is expected to enhance by expansion of pharmaceutical industries and rising prevalence of chronic diseases such as cancer. According to a World Health Organization (WHO) survey, chronic diseases accounted for roughly three-quarters of all deaths globally in 2020.
Nuclear imaging equipment and instruments (also known as radiopharmaceuticals or radiotracers) are important in the diagnosis of radioactive substances in patients. These radiotracers are used in treatment of heart cancer and other neurological conditions, both therapeutically and diagnostically.
Nuclear Imaging Equipment Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
Further key findings from the report suggest:
- The Single Photon-Emission Computed Tomography (SPECT) imaging systems accounted for the largest revenue share in the global market in 2020 due to its lower cost as compared to hybrid PET (Positron Emission Tomography) imaging systems.
- The oncology segment isexpected to register a significant CAGR during the forecast period due to rising occurrence of tumors.
- The hospitals segment accounted for the largest revenue share among end user segments in the global market in 2020 due to large scale adoption of advanced nuclear imaging systems.
- North America is expected to account for largest revenue share over the forecast period due to rising adoption of nuclear imaging technologies and introduction of new radiopharmaceuticals for diagnosis.
- Revenue from the Asia Pacific nuclear imaging equipment market is projected to grow at a high rate.
Top Companies Profiled in the Report 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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Type Outlook (Revenue, USD Billion; 2018 – 2028)
- SPECT Imaging Systems
- PET Imaging Systems
- Planar Scintigraphy Imaging Systems
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Neurology
- Oncology
- Cardiology
- Others
End User Outlook (Revenue, USD Billion; 2018 – 2028)
- Hospitals
- Imaging Centers
- Academic Research Centers
- Others
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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