Market Definition
Nuclear imaging system basically involves the use of radioactive substances or tracers for the treatment of diseases. The radioactive substances are injected orally or intravenously and the imaging systems records the radiations emitted by these substances to create images of organs inside the human body.
Market Outlook
The global nuclear imaging equipment market was valued at USD 2.9 billion in 2021 and it is anticipated to grow up to USD 5.2 billion by 2031, at a CAGR of 6.1% during the forecast period.
These generated images help the physician in better detection and diagnosis of the illness. The emergence of healthcare cum technology devices have addressed the increasing needs for better diagnostics. The technologically advanced imaging systems has surmounted the conventional systems in terms of precise and accurate images.
Shift from standalone to hybrid modalities will drive the market growth. With technological advancements in the field of imaging, there has been a significant evolution of hybrid systems in the past decade. The major advancement in this regard is that of combined PET modalities. The innovation of PET/CT modality has been so successful that the major imaging system manufacturers do not provide standalone PET systems any longer. Based on the success of the hybrid PET/CT systems, hybrid PET/MRI and SPECT/CT systems have also gained attention. These hybrid systems can provide precise images with better resolution compared to standalone systems. They can provide morphological as well as physiological information in just one examination. For instance, in the case of skeletal evaluation, a SPECT/CT system offers accurate localization along with improving the specificity of the information provided by CT. Due to advantages such as these, many hospitals are now replacing their standalone systems with hybrid systems. The rising popularity of hybrid modalities is likely to drive the growth of the nuclear imaging equipment market.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Nuclear Imaging Equipment Market Segmental Overview
The report analyses the global nuclear imaging equipment market based on product, application, end use, and region.
Global Nuclear Imaging Equipment Market by Product
Based on product, it is segmented into PET, SPECT and Planar Scintigraphy. Among these, PET segment accounted for significant market share in 2021. PET generates computerized images of chemical alteration, such as sugar metabolism, which take place in the tissue. Usually, the patient is given an injection of a combination of sugar and radioactively labeled sugar, radioactive sugar accumulates on the tumor in the body if it is present and can be traced with the help of a scanner.
Global Nuclear Imaging Equipment Market by Application
Based on application, it is segmented into oncology, cardiology, neurology and others. Among them, The oncology application segment is expected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this segment include the rising incidence and prevalence of cancer across the globe, initiatives taken by public and private organizations to curb the rising cancer prevalence, and the development of advanced systems and radiotracers for oncology. Hence aforementioned factors fuel the market growth.
Global Nuclear Imaging Equipment Market by End-use
Based on end-use, it is segmented into Imaging centers, Academic and research institute, Hospitals and Others. The hospital segment accounted for the highest share owing to the factors such as the need to improve the efficiency of diagnostic imaging procedures and the rising number of diagnostic imaging procedures performed in hospitals
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Major Players in the Global Nuclear Imaging Equipments Market
The key players in the market are Siemens Healthineers (Germany), GE Healthcare (US), Koninklijke Philips (Netherlands), Digirad Corporation (US), Neusoft Medical Systems Co., Ltd (US), Canon Medical Systems Corporation (Japan), SurgicEye GmbH (Germany), DDD-Diagnostic A/S (Denmark), CMR Naviscan Corporation (US), and Mediso Ltd. (Hungary), among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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