In the course of years, nuclear medicine equipment market has observed countless product launches in the form of radioisotopes and other advancements. Thallium–201(Tl-201), gallium–67 (Ga-67), and iodine-123 (I-123) are the most common isotopes used in nuclear medicine. The most common radioisotope employed in diagnostic procedures is the technetium-99. A total of 35 million procedures are performed per year using the isotope, accounting for about 80% of all nuclear medicine procedures worldwide. Although large doses of radiations can be harmful, in case of radiopharmaceuticals, nuclear medicine physicians are cautious while selecting the doses. Thus, these doses do not pose any demonstrable health threat and are expected to achieve accurate imaging results, which have high levels of clarity. Technological advancements have facilitated better treatment & diagnosis and transformed nuclear medicine procedures. Development of new and advanced radiotracers and the rising incidence and prevalence of chronic diseases are the key factors driving the growth of the global nuclear medicine equipment market.
Research data suggests that medical imaging technologies will play a key role in the future of medical diagnostics and therapeutics. Especially, developing economies are expected to lead the demand for medical imaging technologies for efficient treatment and diagnostics of diseases. As technological advancements facilitate a rapidly changing medical practice landscape, miniaturization & equipment portability, digitized values for measurements, and hybrid nuclear imaging equipment will gather traction and grow significantly in the coming years. Nuclear medicine is an advanced branch of medicine that employs radiation to diagnose diseases, access functioning of specific organs, or helps treat a particular disease. Approximately 10,000 hospitals and healthcare facilities have been anticipated to employ radioisotopes in medicine, out of which, 90% are employed for diagnosis.
The global nuclear medicine equipment market is expected to reach a value of USD 2.7 billion by 2025, according to a new report by Grand View Research, Inc. Nuclear medicine involves the utilization of radiation to diagnose diseases or treat them. It also involves determining whether specific organs are functioning normally. Over a stretch of the last two decades, rapid technological advancements in nuclear medicine have transformed the medicine practice.
With growing awareness about the importance of early diagnosis of chronic diseases, there has been a noticeable increase in diagnostic nuclear medicine procedures worldwide. This is evident from stats generated from developing countries, which represents about 26% of the world population. These countries conduct diagnostic nuclear medicine tests at a rate of 1.9% per year. In addition, in developed countries such as the U.S., the frequency of nuclear medicine procedures ranges to about 20 million per year. It is evident that the frequency of use of nuclear medicine and procedures involving radiopharmaceuticals in diagnosis is growing at over 10% per year, indicating a rise in adoption of nuclear medicine equipment worldwide. However, high cost associated with nuclear medicine equipment and insufficient reimbursement support for radiology is expected to hinder the growth of the market. In addition, a growing trend of purchasing refurbished systems for cost saving is expected to affect equipment sales of existing market players.
Further Key Findings from the Study Suggest:
- The North American market is expected to register lucrative growth owing to increasing preference for SPECT and PET scans for diagnosis of chronic diseases
- Growing awareness and government initiatives pertaining to usage of radiopharmaceuticals in the North American region is expected to boost usage rates. For instance, in December 2016, the FDA issued new guidelines to enforce FDA’s proposed policies regarding compounding and repackaging of radiopharmaceuticals for human use in the U.S.
- Oncology accounted for the largest market share in application segment in the year 2015 owing to the increasing incidence and prevalence of cancer worldwide
- Asia Pacific market is expected to witness significant growth owing to Japan, China, and India where use of nuclear medicine is increasing at a fast pace. In addition, the usage of radioimmunotherapy-based targeted cancer treatment to counter incidence of cancer and cardiovascular diseases is aiding in the growth of the market
- Some of the leading vendors operating in the nuclear medicine equipment market are GE Healthcare; Siemens Healthineers; Philips Healthcare; and Toshiba America Medical Systems.
- The key players are focused on expansion & penetration opportunities in developing and emerging economies to achieve sustainable growth in the market
Access full research report on global nuclear medicine equipment market:
www.grandviewresearch.com/industry-analysis/nuclear-medicine-equipment-market
TheBusinessResearchCompany published its Nuclear Imaging Devices And Equipment Global Market Report 2019 which provides strategists, marketers and senior management with the critical information they need to assess the global nuclear imaging devices and equipment market.
The report covers the nuclear imaging devices and equipment market’s segments- SPECT systems, PET systems, planar scintigraphy, oncology, cardiology, neurology, other applications (orthopedics, urology, thyroid-related disorders, and gastroenterology), hospitals, imaging centers, academic & research institutes, other end users (pharmaceutical/biotechnology companies and CROs).Explore Complete Report https://www.thebusinessresearchcompany.com/report/nuclear-imaging-devices-and-equipment-global-market-reportNuclear Imaging Devices And Equipment Global Market Report 2019 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Take a look at our year-end deals on Opportunities and Strategies Reports!
https://www.thebusinessresearchcompany.com/discounted-reports.aspxCompanies in the nuclear imaging devices and equipment market are using hybrid imaging technologies such as positron emission tomography/computed tomography (PET/CT), single-photon emission computed tomography/computed tomography (SPECT/CT), and positron emission tomography/magnetic resonance imaging (PET/MRI) for nuclear medical imaging.
