Nuclear Medicine Equipment Market By Product (Single Photon-Emission Computed Tomography (SPECT), Hybrid Pet, Planar Scintigraphy), Application (Cardiology, Oncology, Neurology, Other Applications), End User (Hospitals, Imaging Centers, Academic and Research Centers, Other End Users), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Few of the major market competitors currently working in the global nuclear medicine equipment market are CMR Naviscan, SurgicEye GmbH, Mallinckrodt, Neusoft Corporation, DDD-Diagnostic A/S, CANON MEDICAL SYSTEMS CORPORATION, Mediso Ltd, Digirad Corporation., Siemens, Cardinal Health., GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., Bozlu Holding, Compañía Mexicana de Radiología CRG, SA de CV, Neusoft Corporation, TOSHIBA CORPORATION, Bartec Technologies Ltd., Biodex, Cyclopharm, Standard Imaging Inc. and others.

Global nuclear medicine equipment market is registering a Substantial CAGR of 6.2% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising usage of non-oncology diseases and increasing geriatric population in the industry.

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Market Definition: 

Nuclear medicine device is used to detect and cure multiple illnesses, such as cancer, cardiovascular disease, neurological disease and medication growth. This device is being used to examine/study distinct procedures, such as metabolism, tissue blood flow, protein cell activity in ordinary and unusual cells, neurotransmitter interaction, home, cell smuggling, and apoptosis. The device used for anatomical mapping for single-photon emission mapped tomography (SPECT) and positron-electron tomography (PET) to improve the precision of nuclear medicine imaging. These devices when combined with computed tomography (CT) (PET / CT and SPECT / CT devices) deliver better results in areas such as unidentifiable structural alteration.

Market Drivers

  • Implementation of new and developed products is driving the growth of the market
  • Investments through public-private associations to reinvigorate diagnostic imaging is propelling the growth of the market
  • Increased occurrence and incidence of cancer and heart disease  is boosting the growth of the market
  • Increase investments, funds, and subsidies by governmental bodies globally is contributing to the growth of the market

Market Restraints

  • High price of equipment for nuclear medicine is hampering the growth of the market
  • Narrower semi-life for radiopharmaceuticals  is hindering the growth of the market
  • Absence of skilled specialists  is restricting the growth of the market

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By Product 

  • Single Photon-Emission Computed Tomography (SPECT)
    • Standalone SPECT Systems
    • Hybrid SPECT Systems
  • Hybrid Pet
  • Planar Scintigraphy

By Application

  • Cardiology
  • Oncology
  • Neurology
  • Other Applications

By End User

  • Hospitals
  • Imaging Centers
  • Academic and Research Centers
  • Other End Users

By Geography

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • UK.
    • France
    • Spain
    • Netherlands
    • Belgium
    • Switzerland
    • Turkey
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Rest of South America
  • Middle East and Africa
    • South Africa
    • Rest of Middle East & Africa

 Key Developments in the Market:

  • In August 2017, Thyrocare Technologies is proposing to spend USD 100 million to expand its nuclear medicine imaging company for cancer screening. The firm intends to incorporate 80 PET / CT scanners and four cyclotron computers and also the firm will investigate alternatives such as borrowing, debt and inner accruals. This expansion will expand the manufacturing unit of the company which will increase the revenues and margins of the company.
  • In December 2016, Canon Inc. revealed it would acquire the shares of Toshiba Medical Systems Corporation. Toshiba Medical was the only firm in the sector with a wide brand range spanning cardiac X-ray devices, electric resonance imaging (MRI) technologies, forensic ultrasound technologies and forensic atomic medication technologies. With this acquisition the company expands its business in the health care sector globally.

Competitive Analysis:

Global nuclear medicine equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of nuclear medicine equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Reasons to Purchase this Report

  • Current and future of global nuclear medicine equipment market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

  • All segmentation provided above in this report is represented at country level
  • All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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