Nuclear medicine equipment utilizes radioactive substances, which are introduced into the body either intravenously or orally in small quantities, to diagnose and treat various diseases. This equipment provides images by capturing the radiation from these radioactive medicines. This technique is used for the early diagnosis of a disease, as it tracks the molecular activities within the body. In addition, it is used to examine the immediate response to therapeutic interventions
The key factors that drives the growth of the market are an increase in the prevalence of cancer, heart-related diseases, and neurological disorders has increased the importance of early disease diagnosis, which is expected to positively impact the market growth. The growth of the nuclear medicine equipment market is driven by the availability of high-quality equipment, rise in the adoption of nuclear medicine equipment, and the emergence of innovative & advanced equipment. However, high cost of this equipment and their short half-life, high hospital expense, and high cost related to diagnostic imaging services hinder the market growth. In addition, the key players in the industry have adopted product launch as their key developmental strategy to expand their market foothold. For instance, in November 2016, Philips launched an advanced visual analysis and quantification platform called IntelliSpace Portal 9.0., which assisted radiologists to diagnose and monitor the treatment of neurological diseases, such as multiple sclerosis and dementia.
The nuclear medicine equipment market is segmented on the basis of product type, application, end user, and region. Depending on product, the market is bifurcated into single-photon emission computed tomography (SPECT) and positron emission tomography (PET). SPECT segment is fragmented into standalone and hybrid SPECT, while PET into standalone and hybrid PET. By application, the market is categorized into cardiology, neurology, oncology, and others. By end user, it is classified into hospitals, imaging centers, and academic & research institutes. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Saudi Arabia, Republic of South Africa, Argentina, and rest of LAMEA).
The 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, Compañía Mexicana de Radiología CGR, S.A de C.V., and SurgicEye GmbH.
The key factors that drives the growth of the market are an increase in the prevalence of cancer, heart-related diseases, and neurological disorders has increased the importance of early disease diagnosis, which is expected to positively impact the market growth. The growth of the nuclear medicine equipment market is driven by the availability of high-quality equipment, rise in the adoption of nuclear medicine equipment, and the emergence of innovative & advanced equipment. However, high cost of this equipment and their short half-life, high hospital expense, and high cost related to diagnostic imaging services hinder the market growth. In addition, the key players in the industry have adopted product launch as their key developmental strategy to expand their market foothold. For instance, in November 2016, Philips launched an advanced visual analysis and quantification platform called IntelliSpace Portal 9.0., which assisted radiologists to diagnose and monitor the treatment of neurological diseases, such as multiple sclerosis and dementia.
The nuclear medicine equipment market is segmented on the basis of product type, application, end user, and region. Depending on product, the market is bifurcated into single-photon emission computed tomography (SPECT) and positron emission tomography (PET). SPECT segment is fragmented into standalone and hybrid SPECT, while PET into standalone and hybrid PET. By application, the market is categorized into cardiology, neurology, oncology, and others. By end user, it is classified into hospitals, imaging centers, and academic & research institutes. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Saudi Arabia, Republic of South Africa, Argentina, and rest of LAMEA).
The 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, Compañía Mexicana de Radiología CGR, S.A de C.V., and SurgicEye GmbH.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nuclear medicine equipment market analysis from 2020 to 2030 to identify the prevailing nuclear medicine equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the nuclear medicine equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global nuclear medicine equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Single-Photon Emission Computed Tomography (SPECT)
- Positron Emission Tomography (PET)
By Application
- Oncology
- Neurology
- Cardiology
- Other Applications
By End User
- Hospitals
- Imaging Centers
- Academic and Research Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Simen Healthineers
- Fujifilm Holdings
- Canon Inc
- Digirad Corporation
- Mediso Medical Imaging Systems
- SurgicEye GmbH
- General Electric Company
- Koninklijke Philips N.V.
- bozlu holding
- Nuerosoft Medical Systems
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NUCLEAR MEDICINE EQUIPMENT MARKET, BY PRODUCT
CHAPTER 5: NUCLEAR MEDICINE EQUIPMENT MARKET, BY APPLICATION
CHAPTER 6: NUCLEAR MEDICINE EQUIPMENT MARKET, BY END USER
CHAPTER 7: NUCLEAR MEDICINE EQUIPMENT MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Nuclear Medicine Equipment Market,' the Nuclear Medicine Equipment Market size was valued at $2.5 billion in 2020, and is estimated to reach $3.4 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.Nuclear medicine utilizes radionuclides, which are unstable atoms that emit radiation spontaneously, to examine and treat diseases such as, cancer, cardiovascular, and others. Nuclear medicine equipment uses radioactive substances which are called as nuclear medicine or radiopharmaceuticals that are inserted into the body orally or intravenously. These systems capture the radiations emitted by radiopharmaceuticals to create images of the structures and activities inside the human body. These images enable physicians to look inside a human body to help determine the cause of an illness or injury and provide an accurate diagnosis.
Nuclear Medicine Equipment Market trends include a rise in the incidence of cancer and cardiovascular diseases and an increase in investment in the modernization of diagnostic imaging centers. The emergence of advanced and innovative radiotracers is expected to fuel market growth. Furthermore, the key factors that drive tNuclear Medicine Equipment Market growth include a rise in disposable income and an increase in expenditure on healthcare along with awareness of the benefits of early diagnosis and nuclear medicine equipment.
The nuclear medicine equipment market is segmented on the basis of product type, application, end-user, and region. Based on the product, it is bifurcated into single-photon emission computed tomography (SPECT) and positron emission tomography (PET). SPECT segment is fragmented into standalone and hybrid SPECT, while the PET segment into standalone and hybrid PET. By application, the market is categorized into cardiology, neurology, oncology, and others. Depending on the end-user, it is classified into hospitals, imaging centers, and academic & research institutes. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, and Rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Saudi Arabia, Republic of South Africa, Argentina, and Rest of LAMEA).
By product type, the single-photon emission computed tomography (SPECT) segment holds the lNuclear Medicine Equipment Market share whereas the PECT segment is estimated to witness the highest CAGR during the forecast period, owing to its terms of availability, long scan times, low-resolution images prone to artifacts, and attenuation. This, in turn, drives the growth of the market.
By application type, the oncology segment dominated the market in 2021 & cardiology segment is expected to witness the highest CAGR during the forecast period, owing to the increase in the prevalence rate of cancer in most developed countries like the U.S., thus fueling the market growth.
By end-user, the hospital segment was the highest contributor to the global Nuclear Medicine Equipment Industry. In addition, to that, the increased demand for nuclear medicine equipment in hospitals for treatment accelerates the market growth.
Region-wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA. North America was the highest contributor to the global market in 2020. Asia-Pacific is projected to grow at a significant CAGR o during the forecast period, owing to an increase in awareness toward nuclear medicine therapies and rise in investment in the nuclear medicine space.
Key findings of the Study
- By product type, the (SPET) segment was the highest contributor to the market in 2020.
- By application, the oncology segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
- Region wise, North America garnered the largest revenue share in 2021; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
Companies Mentioned
- Simen Healthineers
- Fujifilm Holdings
- Canon Inc
- Digirad Corporation
- Mediso Medical Imaging Systems
- SurgicEye GmbH
- General Electric Company
- Koninklijke Philips N.V.
- bozlu holding
- Nuerosoft Medical Systems
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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