Nuclear Medicine Equipment Market Is Predicted To Grow Quickly Due To Awareness About The Chronic Diseases Till 2025: Grand View Research, Inc.
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.
Browse full research report on Nuclear Medicine Equipment
Market: http://www.grandviewresearch.com/industry-analysis/nuclear-medicine-equipment-market
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
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the nuclear medicine
equipment market on the basis of product, application, and end use:
Product Outlook (Revenue, USD Million; 2014 - 2025)
- SPECT
- Hybrid
SPECT
- Standalone
SPECT
- Hybrid
PET
- Planar
Scintigraphy
Application Outlook (Revenue, USD Million; 2014 -
2025)
- Oncology
- Cardiology
- Neurology
- General
Imaging
End- use Outlook (Revenue, USD Million; 2014 -
2025)
- Hospitals
- Imaging
Centers
- Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
- Saudi
Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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