Business Services News

Business Services News

Breaking News on Business Services

Home > Business Services Search Engine                                 

Business Services News -- Video Feeds
  • Advertising
  • Careers
  • Corporate news
  • Economy
  • Markets
  • Small Business
  • Personal Finance
  • Regulatory and Compliance
  • Business News

    Nuclear Medicine Equipment Market Size Projected to Reach $2.6 Billion by 2026
    (I-BusinessNews.Com, March 01, 2022 ) The Nuclear Medicine Equipment Market size is projected to reach $2.6 billion by 2026, with a CAGR of 4.6% during the forecast period 2021-2026. Nuclear medicine involves the use of radioactive substances called radiotracers used in the diagnosis and treatment of illnesses such as cardiovascular diseases, neurological diseases, cancers, and so on. The radiotracers are injected, inhaled, or swallowed by the patient and then emit gamma radiation that can be detected by nuclear imaging devices. Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) scans are the most widely used nuclear imaging devices. Technological advancements in radiotracer development are one of the major drivers of the market. However, high equipment costs are predicted to challenge the market growth during the forecast period.



    Nuclear Medicine Equipment Market Segment Analysis-By Product Type

    The Nuclear Medicine Equipment Market-based on the Product Type can be further segmented into Hybrid PET, Planar Scintigraphy and Single Photon-Emission Computed Tomography (SPECT). The market was estimated to be dominated by the SPECT segment in 2020 and is anticipated to continue leading the market with a CAGR of 4.7% during the forecast period. This is owing to its usage in a wide range of applications while also being relatively inexpensive. The increase in technological advancement in the segment is another factor causing its growth. For instance, innovation in the segment has led to the development of digital SPECT which offers higher image detail and sensitivity. The Hybrid PET segment is projected to witness the highest growth rate during the period owing to its ability to generate 3D images and accurate full-body scans.



    Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16841

    Report Price: $ 4500 (Single User License)



    Nuclear Medicine Equipment Segment Analysis - By End-User Type

    On the basis of end-user, the Nuclear Medicine Equipment market is segmented into Hospitals, Imaging Centers, Research Centers, and Others. The hospital segment accounts for the largest market share during the forecast period 2021-2026 owing to the increase in healthcare investment by emerging global economies and the presence of highly developed and advanced healthcare infrastructure in developed nations. Moreover, the increase in lifestyle diseases such as cardiovascular illnesses and cancer globally has resulted in the surge of the target patient population and the demand for early diagnostics and treatment by hospitals. This rise in lifestyle illnesses have also led to increased investment by public and private entities in Research Centers which makes the segment the fastest growing with a CAGR of 4.8% during the forecast period 2021-2026.



    Nuclear Medicine Equipment Market Segment Analysis-By Geography

    The Nuclear Medicine Equipment based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North American market held the largest share in 2020 with 31% of the market. The growth in this geographic segment is owing to the developed healthcare system and high investment levels in research and development by the governments. The growth in prevalence and spending on diseases such as cancer and cardiovascular illnesses are a major reason for the regionís high market share. For instance, around $186 billion was spent on cancer treatment in the US in 2015 and this is predicted to reach more than $246 billion by 2030. Nuclear medicine plays a vital part in both diagnostics and treatment of such illnesses. The Asia Pacific market is anticipated to be the fastest-growing during the forecast period. This growth is credited to an increase in the elderly population, disposable income, and awareness of nuclear medicine in the region.



    Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=16841



    Nuclear Medicine Equipment Market Drivers

    Increase in the Prevalence of Target Patient Population is Projected to Drive Market Growth

    According to the World health Organization (WHO), cancer alone accounted for over 10 million deaths worldwide. The increase in cancer cases is predicted to occur in both the developed and developing world alike. For instance, it is estimated that 1 in 9 Indians will develop cancer during their lifetime. Cardiovascular disease is the leading cause of death worldwide with heart disease being responsible for 16% of all deaths. The chances of survival significantly increase with early detection and Nuclear Medical Equipment play a vital role in it.



    Advancements in Nuclear Imaging Systems Expected to Boost Product Demand.

    Innovative advancements in nuclear imaging systems such as PET and SPECT have enabled this equipment to be used beyond the scope of Oncology, Cardiology, and Neurology. For instance, the development of cadmium zinc telluride-based detectors for SPECT have helped in the simultaneous visualization of physiological and anatomical structures. This will drive the global demand for Nuclear Medicine Equipment during the forecast period.



    Nuclear Medicine Equipment Market Challenges

    Lack of Research Facilities and Funding in Developing Regions is Anticipated to Hamper Market Growth

    The lack of proper funding in the developing regions has led to the reduction in the availability of even the basic equipment for Nuclear Medicine like phantoms. It has also caused the diminished growth of medical research facilities and radiation protection equipment. Furthermore, the average patient healthcare expense in developing regions is almost 1000 times lower than that in a developed country like the US. This has led to low incentive among hospitals to invest in expensive Nuclear Medicine Equipment.



    Fear of contracting Covid-19 in hospitals is Projected to Limit Growth Opportunities.

    The Covid-19 pandemic has caused patients to be reluctant to visit hospitals for diagnostics and treatment over the fear of contracting the virus. Moreover, the risk of the virus to individuals who are undergoing treatment for illnesses such as cancer is significantly higher owing to their weakened immune systems. Moreover, the high influx of Covid-19 patients into hospitals has resulted in the hospital establishments diverting funds into Covid-19 treatment from other departments, including Nuclear Medicine.



    Nuclear Medicine Equipment Market Competitive Landscape Outlook:

    Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Nuclear Medicine Equipment Market. Top 10 companies of this market are-



    Toshiba Medical Systems Corporation

    CMR Naviscan Corporation

    GE Healthcare

    Siemens AG (Siemens Healthcare)

    Philips Healthcare

    Digirad Corporation

    Surgiceye GMBH

    Mediso Medical Imaging Systems Ltd.

    Ddd-Diagnostic A/S

    Bozlu Holding



    Partnerships/Product Launches:

    In June 2021, Curium acquired the Austrian radiopharmaceutical company IASON in order to strengthen their European presence for its diagnostic products line.

    In May 2021, Lantheus, a US diagnostic image agents and equipment company received the Food and Drug Administration (FDA) approval of PYLARIFY injection. The injection is the first commercially available PSMA PET imaging agent for prostate cancer.



    Key Takeaways

    Geographically, North America was estimated to have the highest Nuclear Medicine Market share in 2020 and it is poised to dominate the market over the forecast period 2021-2026 owing to the highly developed healthcare system along with the increase in the target patient population in the region.

    Global rise in lifestyle diseases such as cancer and cardiovascular illnesses are forecast to drive the market but the Covid-19 pandemic is a major challenge faced by the Nuclear Medicine Equipment Industry owing to the fear of infection-causing fewer patient visits to hospitals.

    Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Nuclear Medicine Equipment Market report.



    Related Reports:



    A. Nuclear Imaging Market

    https://www.industryarc.com/Report/16182/nuclear-imaging-market.html



    B. Diagnostic Imaging Equipment Market

    https://www.industryarc.com/Research/Diagnostic-Imaging-Equipment-Market-Research-501311



    For more Lifesciences and Healthcare Market reports, please click here



    About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

    IndustryARC

    Venkat Reddy

    (+1) 970-236-3677

    venkat@industryarc.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Business News Feeds
  • Business News - Top Stories
  • Company Earnings
  • Economy
  • Personal Finance
  • Real Estate
  • Stock Markets
  • Business Services Sponsors

    Business Services Ads

    Business Resource Center
    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    CIO Insight
    Managed Healthcare Executive
    Mortgage Technology

    No credit cards, coupons, or promo codes required. Try it today!

    Press release service

    :: Home: :: Submit Press Release :: Subscribe to News :: Contact Us :: Help

    For unlimited press release distribution for $59 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.

    Copyright 2008 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    I-BusinessNews.Com ô is a business news service of GroupWeb Media LLC