The Global Nuclear Medicine Imaging Equipment Market Is Expected To Grow From USD 2.8 Billion In 2022 And CAGR Of Approximately 4.9% During The Forecast Period 2022-2030.
Nuclear Medicine Imaging Equipment Market Overview:
Nuclear imaging can be defined as an emerging imaging technique that utilizes small amounts of radioactive material associated with compounds used by tumor cells in the body. Radiotracers can be placed in the body to detect where and when they concentrate. Based on type, nuclear medicine imaging equipment can be classified into SPECT systems, hybrid PET systems, and planar scintigraphy scanners.
Nuclear medicine is the branch of medicine that studies radioactive tracers used to treat and diagnose disease. The application of nuclear medicine in the treatment of chronic diseases, cardiovascular diseases and gastrointestinal cancers. Nuclear medicine equipment is used to treat conditions related to cardiovascular disease, gastrointestinal disease, and various cancers. Nuclear medicine equipment such as imaging techniques are used to study metabolism, tissue blood flow, expression of cell receptors in normal and abnormal cells, neurotransmitter activity, homing, cell trafficking, and apoptosis. The radioactive material that enters the patient's body has two main components, including a radionuclide and a carrier molecule. A radionuclide is an excited state of an atom that emits energy that converts the atom into a stable form that travels through the body until it interacts with its target cells. tissue or organ system.
Nuclear Medicine Imaging Equipment market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Nuclear Medicine Imaging Equipment market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Major Market Segments Covered in Nuclear Medicine Imaging Equipment Industry Research:
Market Key Players:
Digirad Corp. (US), Philips Healthcare (US), GE Healthcare Plc (UK), Mediso Medical Imaging Systems (Hungary), Siemens Healthineers (Germany), Positron Corporation (US), And Others.
- Full Ring PET Scanners, Partial Ring PET Scanners,
- Oncology, Cardiology, Others
North America will dominate the market with a share of 45.2% in 2021 and is expected to grow at a significant rate during the forecast period. The high market share in the region can be attributed to increasing investments in R&D activities, high usage of nuclear medicine procedures, and strong healthcare infrastructure. For example, in January 2021, Eckert & Ziegler announced plans for the development of a cGMP contract manufacturing facility for radiopharmaceuticals in Boston, USA. The facility will be dedicated to the production of late-stage research-stage and commercial-stage radioisotopes for use in nuclear medicine and can help address the growing market demand for radionuclides.
Asia Pacific is estimated to be the fastest growing region owing to rising awareness about nuclear medicine treatments and rising investments in the field of nuclear medicine. For instance, in March 2022, Penang Adventist Hospital (PAH) announced the launch of a private nuclear medicine center in northern Malaysia. The launch is expected to have a positive impact on the regional market. However, high costs associated with these therapies may restrain the market growth as such treatments may not be affordable to low-income populations in developing countries. For example, in India, treatments for yttrium-90, lutetium-177, and iodine-131 may cost approximately $23,850, $5,962, and $3,312, respectively.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Hybrid systems have undergone major changes over the past decade as technological advances have taken place in the imaging field. A major advance in this area is the combined PET modality. Innovation in PET/CT modalities has been so successful that major imaging system manufacturers no longer offer stand-alone PET systems. Based on the success of hybrid PET/CT systems, hybrid PET/MRI and SPECT/CT systems are also gaining attention. These hybrid systems can deliver accurate images at higher resolutions than stand-alone systems. They can provide morphological and physiological information in a single examination. For example, in the case of skeletal assessment, SPECT/CT systems provide accurate localization while improving the specificity of the information provided by CT. Because of these advantages, many hospitals are now replacing their stand-alone systems with hybrid systems. The growing popularity of hybrid modalities is likely to drive the growth of the nuclear imaging devices market.
Nuclear imaging systems are expensive and require substantial investment in installation, which also increases surgical costs for patients. This affects the adoption rate of new systems, especially in emerging countries; thus, most healthcare facilities in these countries cannot afford such systems. In emerging countries such as Brazil, the average cost of a PET system is between $400,000 and $600,000, while that of a SPECT system is between $250,000 and $400,000. These high costs, coupled with maintenance costs, are expected to hamper market growth.
Healthcare organizations that purchase such expensive systems often rely on third-party payers, such as Medicare, Medicaid, or private health insurance plans, to reimburse the costs of diagnostic, screening, and treatment procedures performed using these systems. Consequently, factors such as continued cuts in reimbursement for diagnostic imaging scans and increasing cost of nuclear imaging systems have discouraged small and mid-sized healthcare organizations from investing in technologically advanced nuclear imaging modalities.
Data-integrated imaging systems are capable of processing and reconstructing images, computer-aided identification of medical conditions, generation of 3D images, and use of appropriate quality control systems. With the help of data integration, doctors can easily compare scans to effectively observe the progression of the disease. To effectively plan treatment, clinicians demand comprehensive, comprehensive data on a patient's diagnostic history. Beyond data integration, there is a huge opportunity to deliver data through mobile technology. This will help doctors view and study scan results anytime, anywhere. Due to the benefits and convenience of integrated systems and the huge demand from clinicians, companies are focusing on developing systems with integrated technologies.
Nuclear Medicine Imaging Equipment Market report scope:
CAGR of 4.9% from 2022 to 2030.
Full Ring PET Scanners, Partial Ring PET Scanners,
Oncology, Cardiology, Others
Digirad Corp. (US), Philips Healthcare (US), GE Healthcare Plc (UK), Mediso Medical Imaging Systems (Hungary), Siemens Healthineers (Germany), Positron Corporation (US)
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Key Takeaways from this Nuclear Medicine Imaging Equipment Report
- Estimate Nuclear Medicine Imaging Equipment market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Nuclear Medicine Imaging Equipment market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Nuclear Medicine Imaging Equipment market?
The Nuclear Medicine Imaging Equipment Market is growing at a CAGR of 4.9% During Forecast Period.
What are the key types of Nuclear Medicine Imaging Equipment market?
Full Ring PET Scanners, Partial Ring PET Scanners,
What are the key applications of Nuclear Medicine Imaging Equipment market?
Oncology, Cardiology, Others
Who are the key players in Nuclear Medicine Imaging Equipment market?
Digirad Corp. (US), Philips Healthcare (US), GE Healthcare Plc (UK), Mediso Medical Imaging Systems (Hungary), Siemens Healthineers (Germany), Positron Corporation (US), And others.