Nuclear Medicine Equipment Market Size to Reach $437 Million, Globally, by 2027 at CAGR of 3.9%
Pune, Maharashtra, India, February 12 2021 (Wiredrelease) Allied Analytics –:According to the report published by Allied Market Research, “The global nuclear medicine equipment market was valued at $2,012 million in 2020, and is estimated to reach $2,647 million by 2027, growing at a CAGR of 3.9% during the forecast period.” Oncology segment held more than two-thirds share of the global market in 2020.
Nuclear medicine equipment, such as PET/CT and SPECT scans, are used to capture radiation from small amount of radioisotopes that are introduced into the body. These equipment thus help to diagnose diseases and assess the response of treatment provided to the patient. The major factors that drive the market growth are emergence of new and advanced equipment, increase in prevalence of cancer and cardiovascular diseases, rise in investment in modernization of diagnostic imaging centers, and development of radiotracers.
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According to Pallavi Jaiswal, Research Analyst, Healthcare at Allied Market Research, “Rise in incidence of cancer and cardiovascular diseases, and the need for early diagnosis of these diseases boosts the market growth. In addition, the hospitals segment is expected to dominate other segments as the number of patients visiting hospitals has increased. Moreover, hospitals have the capital required to purchase such expensive equipment.”
The hospitals segment accounted for nearly two-fifths of the total market share in 2015, and is estimated to maintain its position during the forecast period. This is due to the growth of the number of patients in hospitals with increase in the occurrence of chronic diseases. Based on region, North America contributed the highest market share in the market in 2015, and is expected maintain its leadership position in the future. This is due to the presence of huge geriatric population, advancements in technology, supportive imbursement policies, and affordability for buying modern and expensive equipment.
NUCLEAR MEDICINE EQUIPMENT MARKET KEY FINDINGS:
Hybrid PET segment is projected to grow at the highest rate during the analysis period.
Argentina nuclear medicine equipment market is estimated to grow at a CAGR of 6.0%.
Oncology dominated the global nuclear medicine equipment market in 2020.
U.S. was the largest market in 2015, and is projected to maintain its lead until 2027.
Hospitals segment is projected to dominate throughout 2027.
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North America dominated the market in 2020, and is maintain its position in the future, due to the presence of a large geriatric population, technological advancements, availability of favorable imbursement policies, and affordability to purchase modern and expensive nuclear medicine equipment.
Summary of the Nuclear Medicine Equipment Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/nuclear-medicine-equipment-market
Key players in the global nuclear medicine equipment market include General Electric Company, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Digirad Corporation, Mediso Medical Imaging Systems, Ltd., Toshiba Corporation, Bozlu Holding, Neusoft Corporation, Compañía Mexicana de Radiología CGR, S.A. de C.V., and SurgicEye GmbH.
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