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Global Nuclear Medicine Equipment Market to Reach US$ 4 Billion by 2027, Facilitated by the Increasing Prevalence of Cancer

Published on Jan 04, 2022

According to the latest report by IMARC Group, titled “Nuclear Medicine Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global nuclear medicine equipment market reached a value of US$ 2.7 Billion in 2021. Nuclear medicine is a branch of radiology that is used for visualizing the function and structure of a tissue, bone, system or organ. It includes various therapies, such as radioactive iodine, antibodies, phosphorus and other materials therapy. Nuclear medicine therapies are performed by introducing radionuclides or radiopharmaceuticals into the body. The behavior of the radionuclide is measured through a gamma camera, generator, nuclear reactor, and cyclotron. Nuclear medicine is used for diagnosing various conditions, which include brain tumors, and prostate, breast, lung, and head and neck cancers. Besides this, it also helps to detect organ enlargement, hematomas, cysts, infections, arthritis, and fractures. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. 

Global Nuclear Medicine Equipment Market Trends:

The rising prevalence of heart-based diseases, neurological disorders, and cancers has led to an increase in the awareness regarding the importance of early diagnosis, which is primarily driving the market growth. The rising awareness is further leading to the widespread establishment of diagnostic centers, which is fueling the demand for these systems. Other than this, various technological advancements are contributing to the growth of the market. For instance, leading players have been developing modern software that helps to improve the acquisition, and image detail and sharpness of gamma and positron emission tomography (PET) cameras. Moreover, significant improvements in the healthcare infrastructure, and a rapid shift toward high-resolution imaging solutions are some of the other factors that are creating a positive outlook for the market. Looking forward, the market is projected to reach US$ 4 Billion by 2027, expanding at a CAGR of 6.8% during the forecast period (2022-2027).

Market Summary:

  • On the basis of the product, the market has been segmented into single-photon emission computed tomography (standalone and hybrid), positron emission tomography (standalone and hybrid), and planar scintigraphy.
  • Based on the application, the market has been segregated into neurology, oncology, cardiology, and others.
  • On the basis of the end user, the market has been categorized into hospitals, imaging centers, academic and research institutes, and others.
  • On a regional basis, the market has been divided into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Biodex Medical Systems Inc. (Mirion Technologies Inc.), Cardinal Health Inc., CMR Naviscan Corporation, DDD-Diagnostic A/S, Digirad Corporation, General Electric Company, Koninklijke Philips N.V., Mediso Ltd., Neusoft Corporation, Siemens AG, SurgicEye GmbH and Toshiba Corporation.

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