Nuclear Imaging Equipment Market to Surpass US$ 3.2 Billion by 2026

Global Nuclear Imaging Equipment Market, by Product Type (Single-Photon Emission Computed Tomography (SPECT) Systems, Hybrid Positron Emission Tomography (PET) Systems, and Planar Scintigraphy), by Application (Oncology, Cardiology, Neurology, and Others), by End User (Hospitals, Imaging Centers, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,220.5 million in 2017 and is projected to exhibit a CAGR of 4.4% over the forecast period (2018 – 2026).

Launch of innovative systems by key players to augment the market growth The global nuclear imaging equipment market is expected to witness significant growth over the forecast period. This is owing to increasing use of nuclear imaging in early detection of Alzheimer’s disease. According to BrightFocus Foundation Factsheet, 2017, around 46.8 million people are living with Alzheimer's disease, and the number is projected to increase to nearly 74.7 million by 2030. Moreover, product launch and approvals is also expected to boost the market growth over the forecast period. For instance, in July 2018, Siemens Healthineers received FDA Clearance for syngo.via VB30 Molecular Imaging Software. The software offers additional features and advanced clinical capabilities to PET imaging in neurology and oncology by providing a unique platform for viewing and interpreting parametric PET images, thereby saving time and increasing efficiency of clinicians. Moreover, in 2017, Neusoft Medical Systems Co., Ltd. launched – NeuSight PET/CT— an imaging system that offers low dose exquisite images for an accurate diagnostic information.

Browse 24 Market Data Tables and 26 Figures spread through 158 Pages and in-depth TOC on “Nuclear Imaging Equipment Market”- Global Forecast to 2026, by Product Type (Single-Photon Emission Computed Tomography (SPECT) Systems, Hybrid Positron Emission Tomography (PET) Systems, and Planar Scintigraphy), by Application (Oncology, Cardiology, Neurology, and Others), by End User (Hospitals, Imaging Centers, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Nuclear imaging technologies also used in research laboratories to achieve a better understanding of molecular pathways and mechanisms of diseases, thereby helping researchers to quickly assess new therapies. The technology also contributes in development of new and effective drugs. For instance, in September, 2018, Bruker introduced a preclinical PET/CT Si78 scanner for whole-body molecular imaging at the World Molecular Imaging Congress in Seattle, U.S. The single scanner combines Bruker's novel Positron Emission Tomography (PET) and Micro-Computed Tomography (CT) technologies and imaging software platform ParaVision 360. The scanner offers a scan time of less than 7 seconds, making it safe for animal health and facilitating preclinical discovery, development and validation process. Key players in the market are also focusing on mergers and acquisitions strategies to enhance their market share. For instance, in 2017, IBA Molecular acquired Mallinckrodt Nuclear Imaging to create a radiopharmaceuticals group. The combined business is expected to supply diagnostic solution to around 6,000 public and private hospitals worldwide, from a network of 21 manufacturing centers.

Key Takeaways of the Nuclear Imaging Equipment Market:

The global nuclear imaging equipment market is expected to exhibit a CAGR of 4.4% over the forecast period, owing to the launch of innovative products combined with increasing prevalence of chronic conditions such as cardiovascular diseases and cancer
Among product type, the SPECT segment holds a dominant position in the nuclear imaging equipment market in 2018, as SPECT systems offer effective and accurate diagnosis, thereby allowing early treatment of various diseases.
Among application, the oncology segment holds a dominant position in the nuclear imaging equipment market in 2018, owing to the high prevalence of the condition in North America, Europe, and Asia Pacific
Among end user, the hospital segment holds a dominant position in the nuclear imaging equipment market in 2018, owing to increasing usage of imaging equipment in hospitals for diagnosis of cancer, cardiac, and neurological diseases
Some of the major players operating in the global nuclear imaging equipment market include, Siemens Healthineers, Koninklijke Philips N.V.,GE Healthcare, Toshiba Medical Systems Corporation, Neusoft Medical Systems Co., Ltd., Mediso Medical Imaging Systems Co., Ltd., CMR Naviscan Corporation, Digirad Corporation, SurgiEye GmbH, and Positron Corporation