Global Nuclear Medicine Equipment Market
Global Nuclear Medicine Equipment Market was value US$ 6.8Bn in 2019 and is expected to reach US$ 16.1n by 2027 at a CAGR of 11.3 %.
Global Nuclear Medicine Equipment Market, by Region
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global nuclear medicine equipment market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global nuclear medicine equipment market.
The Nuclear medicine equipment is designed to solve the diagnostic challenges, a medical image using a small amount of radioactive material to diagnose and control the severity of or for treating numerous disease for instance cancer, heart diseases, neurological disorders, and other abnormalities within the body.
The increasing prevalence of disease among the geriatric population, durable product pipeline, and a growing demand for nuclear medicine procedures in the emerging market are expected to fuel market growth in the forecast years. The high cost of nuclear medicine equipment’s and reduced half-life radiopharmaceuticals hamper the growth of the nuclear medicine equipment market globally. Furthermore, lack of effective data & evidence that supports nuclear medicines improves the patient’s outcome, less reimbursement of medical imaging, and lack of trained physician and radiologist can restraint growth of global nuclear medicine equipment market.
Positron Emission Tomography (PET) dominated the industry in 2017 caused by high-resolution images provided by PET technology that is majorly used in oncology cases to obtain enhanced information about a tumour. Positron Emission Tomography (PET) is sub-segmented into standalone and hybrid. Cost-effectiveness of SPECT will significantly drive segment growth during the forecast period.
Cardiology application segment is expected to witness considerable growth over the coming years owing to increasing awareness about cardiac disorders, increasing the number of people suffering from cardiovascular diseases and rising adoption of a sedentary lifestyle and unhealthy diet escalating disease burden.
Region-wise, the Asia Pacific is anticipated to register the highest CAGR of 10.5% over the forecast period. Demand for nuclear medicine is growing in emerging markets such as China and India due to increasing disposable income, improving healthcare standards, and favourable reforms in foreign policies. China is dominating the Asia Pacific market and is likely to hold on to its leadership position through 2026.
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Last Update : Feb 26, 2020
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