Nuclear Imaging Equipment Market by types, applications, countries, companies and forecasts to 2030 covered in a latest research | Koninklijke Philips N.V., GE Healthcare

The Nuclear Imaging Equipment Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Nuclear imaging equipment are medical devices used for diagnostic imaging procedures such as SPECT and PET scans. They help diagnose and monitor treatment for various medical conditions such as cancer, heart disease and neurological disorders.

Market Dynamics:

The nuclear imaging equipment market is expected to witness significant growth due to rising demand for diagnostic imaging procedures and increasing prevalence of chronic diseases. According to studies, over 606 million PET and SPECT imaging procedures were performed in 2020 globally. This number is estimated to grow over 8% annually till 2030. Furthermore, rising geriatric population is also driving the number of cancer and cardiovascular cases. As per WHO, cardiovascular diseases are the leading global cause of death, accounting for over 17.9 million deaths in 2019. Thus, increasing adoption of nuclear imaging for diagnosis of these conditions will aid market growth over the forecast period.

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‣ Table of Contents The scope of the study's coverage

‣ Leading market participants

‣ Structure of the report's research framework

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Major companies in Nuclear Imaging Equipment Market are:

✤ 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
✤ Positron Corporation

Note: Major Players are sorted in no particular order.

Major Growth Drivers of the Nuclear Imaging Equipment Market

Rising Prevalence of Chronic Diseases Such as Cancer

Nuclear imaging is widely utilized for both diagnosis and monitoring of cancer. It helps detect the location and spread of cancers in the body. According to the World Health Organization, cancer prevalence is on the rise globally with 18.1 million new cases and 9.6 million cancer deaths in 2018. The growing cancer patient pool is fueling the demand for nuclear imaging examinations.

Technological Advancements in imaging Modalities

Equipment manufacturers are continuously investing in research to develop advanced nuclear imaging systems with high resolution and sensitivity. Hybrid imaging modalities integrating PET/CT and SPECT/CT have gained immense popularity as they provide anatomical and functional imaging together. Introduction of time-of-flight PET and digital PET systems have further enhanced image quality. 3D imaging and whole-body imaging capabilities of modern machines are driving their adoption rate.

Market Restrain: High Cost of Nuclear Imaging Systems

Nuclear imaging equipment like PET, SPECT involve expensive gamma cameras, detectors and radioisotope production facilities. The high capital cost of setting up a nuclear medicine department deters many small hospitals and diagnostic centers from investing in these devices. The equipment also has recurring high costs associated with consumables, isotope production and maintenance. Refurbished systems at reduced prices have provided some relief but overall nuclear imaging remains an expensive diagnostic option. This cost factor acts as a barrier, especially in low and middle income countries.

Market Opportunity: Rising Healthcare Expenditure in Emerging Nations

Many emerging economies are witnessing significant economic growth and rising standards of living. This has boosted their healthcare spending over the past decade. Countries like China, India, Brazil, Mexico are allocating higher budgets for modernizing their medical infrastructure and equipment. Also, greater health insurance penetration is enabling more patients to afford expensive treatments. These favorable macroeconomic conditions present lucrative opportunities for nuclear imaging vendors to tap new markets. Countries with large populations and growing disease burden make for a promising customer base.

Trend towards Multi-Purpose Hybrid Systems

Equipment manufacturers are focusing on developing hybrid machines that can perform both anatomical and functional imaging. Combination devices like PET/CT and SPECT/CT are gaining more popularity as they provide better diagnostic clarity. The trend is moving towards multi-purpose systems that offer versatile applications. Hybrids allowing PET, MR and optical imaging are under research. This consolidation trend allows hospitals to obtain multiple modalities through a single investment. It appeals more to budget-conscious healthcare facilities. Vendors catering to this integrated platform demand will have competitive advantages.

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Highlights of the global Nuclear Imaging Equipment Market report:

→ This analysis provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), using 2021 as the base year. It also covers the global Nuclear Imaging Equipment Market in-depth.

→ It offers enticing investment proposition matrices for this sector and explains the likely future growth of key revenue streams.

→ Additionally, this study offers crucial insights into market forces, limitations, opportunities, new product introductions or approvals, market trends, regional perspective, and competitive tactics used by top rivals.

→ Based on the following factors: company highlights, product portfolio, significant highlights, financial performance, and strategies, it covers key players in the global Nuclear Imaging Equipment Market.

→ Marketers and company leaders will be able to make wise decisions about next product launches, type updates, market expansion, and marketing strategies thanks to the insights from this research.

→ A wide spectrum of industry stakeholders are covered by the global Nuclear Imaging Equipment Market research, including investors, vendors, product producers, distributors, new entrants, and financial analysts.

→ The many strategy matrices used in researching the global Nuclear Imaging Equipment Market will aid stakeholders in making decisions.

The research was developed through the synthesis, analysis, and interpretation of data gathered from multiple sources on the parent market. Additionally, analysis has been done of the economic circumstances and other economic indicators and factors to evaluate their respective impact on the Nuclear Imaging Equipment Market, along with the present impact, so as to develop strategic and informed projections about the scenarios in the market. This is mostly due to the developing countries' unmet potential in terms of product pricing and revenue collection.

Key Questions Answered In The Report:

• Which regional market will experience the greatest and most rapid growth?

• Who are the top five Nuclear Imaging Equipment Market players?

• How will the Nuclear Imaging Equipment Market evolve over the next six years?

• What application and product will dominate the Nuclear Imaging Equipment Market?

• What are the market drivers and constraints for Nuclear Imaging Equipment Market?

• What will be the Nuclear Imaging Equipment Market's CAGR and size during the forecast period?

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