Nuclear Medicine Imaging Market Worldwide Demand, Growth Potential & Opportunity Outlook 2027 | GE Healthcare, Curium, Lantheus Medical Imaging, Nordion, Novartis and more

Market Size – USD 3.36 billion in 2018, Market Growth - CAGR of 4.7%, Market Trends – Rising occurrences of cancer

The global nuclear medicine imaging market is expected to reach USD 5.13 Billion by 2027, according to a new report by Reports and Data. The growth of the nuclear medicine imaging market is primarily owing to the increasing prevalence of target diseases.

Cancer has a significant impact on the society in the U.S. and across the globe. It has been estimated that 1,735,350 new cancer cases were diagnosed in the U.S. and 609,640 people suffered death from the disease. The number of new incidences of cancer is 439.2 per 100,000 men and women annually and the number of cancer-related morbidity is 163.5 per 100,000 men and women annually. Moreover, it has been estimated that in 2017, 15,270 children and adolescents in the age range of 0-19 years were diagnosed with cancer out of which 1,790 suffered death owing to the disease. In the year 2017, an estimated USD 147.30 billion was spent on cancer care in the U.S.

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Key participants include GE Healthcare, Curium, Lantheus Medical Imaging, Nordion, Novartis, Eczacibasi-Monrol Nuclear Products, Bayer, Cardinal Health, Siemens Healthineers, and Bracco Imaging SPA, among others.

For the purpose of this report, Reports and Data have segmented the global nuclear medicine imaging market on the basis of type, application, end-users, and region:

Type Cause Outlook (Revenue, USD Million; 2016-2027)
• Single-Photon Emission Computed Tomography (SPECT) Systems
• Positron Emission Tomography (PET) Systems

Application Outlook (Revenue, USD Million; 2016-2027)
• Oncology
• Cardiology
• Neurology
• Thyroid
• Others

End-Users Outlook (Revenue, USD Million; 2016-2027)
• Hospitals
• Diagnostic Centers
• Research Institutes

Regional Outlook (Revenue, USD Million; 2016-2027)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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There is an increasing demand for detecting subclinical disease that require the development of imaging procedures that can precisely locate diseased tissue whereby it can be treated with a minimally invasive and image-guided method. The molecular imaging, which is a type of medical imaging that offers detailed pictures of happenings inside the body at the molecular and cellular level, is one of the most lucrative areas in the field of imaging technology. Nuclear medicine imaging finds application in the field of molecular targeting, which in turn, is likely to propel the market growth in the future.

Further key findings from the report suggest

• By type, single-photon emission computed tomography (SPECT) systems contributed to the largest market share in 2018 and is likely to grow at a rate of 4.4% in the forecast period. A SPECT imaging offers complementary functional and anatomic image data to improve the depth of information as well as it is widely available and less expensive than PET.

• By application, oncology dominated the market in 2018 and is expected to experience a growth rate of 4.1% in the period 2019-2027.

• By end-users, hospitals held the largest market share in 2018 and is projected to witness a growth rate of 4.2% in the forecast period. The factors, including well-resourced diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.

• North America dominated the market in 2018 and is likely to observe a growth rate of 4.4% in the forecast period. The market dominance of North America is owing to rapid technological advancements, such as the growing incidence of target diseases, development of molecular imaging, and the launch of new radiopharmaceuticals for diagnosis, among others.

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Major highlights of the report:

An all-inclusive evaluation of the parent market
The evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of the market value and volume in the past, present and forecast years
Market share evaluation
Study of niche industrial sectors
Tactical approaches of the market leaders
Lucrative strategies to help companies strengthen their position in the market

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This release was published on openPR.