The growth in Nuclear Imaging Equipment Market is mainly driven by the shift from standalone to hybrid modalities, advances in radiotracers, the increasing focus on personalized medicine, investments through public-private partnerships to modernize diagnostic imaging centers, and the increasing incidence and prevalence of cancer and cardiac ailments. However, the high cost of nuclear imaging equipment is expected to limit the growth of this market.
The nuclear imaging equipment market is expected to reach USD 3.4 billion by 2025 from USD 2.6
billion in 2020, at a CAGR of 4.9% during the forecast period.
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Market Segmentation:
Based on product, the nuclear imaging equipment
market is segmented into hybrid PET imaging systems, SPECT imaging systems, and
planar scintigraphy imaging systems. The SPECT imaging systems segment is
further categorized into standalone and hybrid imaging systems. The SPECT
imaging systems segment is expected to the largest share in 2019. The large
share of this segment can be attributed to high adoption of SPECT imaing
systems on account of lower cost as compared to hybrid PET imaging systems,
Based on application, the nuclear imaging equipment
market is segmented into oncology, cardiology, neurology, and other applications.
The oncology application segment is expected to register the highest CAGR
during the forecast period. The major factors contributing to the growth of
this segment include the rising incidence and prevalence of cancer across the
globe, initiatives taken by public and private organizations to curb the rising
cancer prevalence, and the development of advanced systems and radiotracers for
oncology.
Based on end user, the nuclear imaging equipment
market is segmented into hospitals, imaging centers, academic & research
centers, and other end users. Hospitals accounted for the largest share of the
global nuclear imaging equipment market in 2019. This can be attributed to
factors such as the need to improve the efficiency of diagnostic imaging
procedures and the rising number of diagnostic imaging procedures performed in
hospitals.
Regional Analysis:
North America, Europe, Asia Pacific, and the Rest of
the World (RoW) are the regions considered for geographic analysis of the
global nuclear imaging equipment market study. North America is expected to
account for the largest share of the global nuclear imaging equipment market.
The large share of North America is attributed to the increasing geriatric
population, high incidence/prevalence of various diseases, a large number of
diagnostic imaging centers/procedures, increasing awareness about the benefits
of early disease diagnosis, and the rapid adoption of technologically advanced
imaging systems in this region.
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Top Key Players:
The prominent players in the global nuclear imaging
equipment market include are Siemens Healthineers (Germany), Philips Healthcare
(Netherlands), and GE Healthcare (US). The other players in the market include
Toshiba Medical Systems Corporation (Japan), Neusoft Medical Systems Co., Ltd.
(China), Mediso Medical Imaging Systems Ltd. (Hungary), Digirad Corporation
(US), CMR Naviscan Corporation (US), SurgicEye GmbH (Germany), and DDD
Diagnostics (Denmark).
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