Instead of physical forms and shapes, nuclear medicine imaging takes photos based on the chemistry of the human body. Due to the rising prevalence of target illnesses, the technology is seeing a spike in usage. The increase in incidences of diseases such as cancer, neurological diseases, and cardiovascular diseases globally owing to the increase in geriatric population has been one of the prime factors that augment market growth. In 2020, according to WHO, cancer was considered among the leading cause of death in the world. Nearly 10 million people die due to cancer each year, making it the second leading cause of death across the world. Nuclear medicine scans can help in finding tumors and analyzing how much cancer has spread in the body (called cancer’s stage). They can also be used to determine whether treatment is effective. Furthermore, one of the key drivers for the market is the growth in the occurrence of cancer and cardiac diseases. The incidence of cardiovascular diseases has been increasing worldwide. For instance, as per the Adult Trusted source, in 2018, 30.3 million people in the United States were diagnosed with heart disease. Heart disease is the leading cause of death in the United States, with around 647,000 deaths per year. One out of every four deaths is due to heart disease. Nuclear medicine has a lot of potential for treating cancer and heart disease. Moreover, there is substantial evidence that using nuclear imaging techniques to diagnose a tumor has a greater influence on patient management in terms of tumor surveillance and treatment response.
In the last decade, there has been a major evolution of hybrid systems due to technological breakthroughs in the field of imaging. The use of integrated PET modalities is a significant advancement in this area. The PET/CT modality has been so successful in terms of innovation that major imaging system manufacturers no longer offer solo PET systems. Furthermore, one of the key drivers for the market is the growth in the occurrence of cancer and cardiac diseases. Nuclear medicine has a lot of potential for treating cancer and heart disease. There is substantial evidence that using nuclear imaging techniques to diagnose a tumor has a greater influence on patient management in terms of tumor surveillance and treatment response.
The rise in venture capital investments coupled with the technological advancement in medical technology due to the worldwide demand for therapeutic alternatives to surgeries is augmenting the growth of the Nuclear Medicine Imaging market. For instance, in 2020, the value of these investments totaled out to be around 6.3 billion U.S. dollars. Apart from this, there was the largest increase in the value of MedTech venture capital investments between 2016-2017. Moreover, medical imaging and nuclear medicine play a critical role in tackling epidemiologic objectives ranging from infectious diseases like tuberculosis to non-communicable diseases (such as cancer and heart disease) and more. There are still significant access gaps.
Siemens Healthineers, GE Healthcare, Philips, Digirad Corporation, Mediso Medical Imaging Systems, Positron Corporation, Cardinal Health Inc., Bracco Imaging SpA, Hitachi Medical Corporation, and Canon Medical Systems Corporation are some of the prominent players operating in the global Nuclear Medicine Imaging market. Several M&A’s along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, SPECT Imaging Systems segment holds the major share”
Based on product, the market is fragmented into SPECT Imaging Systems, PET Imaging Systems, and Planar Scintigraphy Imaging System. The SPECT Imaging Systems segment dominated the market with a share of XX% in 2020 and is expected to maintain its dominance during the forecast period owing to the technological advancement and rising adoption of these devices across various industries.
“Amongst Application, Oncology is anticipated to grow at the highest CAGR during the analyzed period”
Further based on the application, the market is fragmented into oncology, cardiology, neurology, and others. In 2020, oncology accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period. However, the cardiology segment is anticipated to grow at the highest CAGR over the forecast period and reach a market evaluation of USD XX million. For instance, as per the Adult Trusted source, in 2018, 30.3 million people in the United States were diagnosed with heart disease.
Amongst End-User, the hospital’s segment holds the major share”
Based on the end-user type, the market is fragmented into hospitals, imaging centers, academic & research centers, and others. The hospitals dominated the market in 2020 with revenue of USD XX million and is anticipated to maintain their dominance during the analyzed period. Furthermore, the segment is also expected to grow at the highest CAGR during the period.
“North America signifies one of the largest markets of Nuclear Medicine Imaging Market”
For a better understanding of the market dynamics of the Nuclear Medicine Imaging market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America dominated the market and generated revenue of USD XX million in 2020 owing to the increased number of cancer and heart disease cases. In America, nearly 1.9 million new cancer cases are expected to be diagnosed in 2021. Approximately 608,570 Americans are expected to die of cancer in 2021, which translates to about 1,670 deaths per day. Cancer is the second most common cause of death in the US, exceeded only by heart disease.
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Nuclear Medicine Imaging Market can further be customized as per the requirement or any other market segment.
Table of content
1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Nuclear Medicine Imaging Market Study
2 ?????? RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Nuclear Medicine Imaging Market
2.1.1 Main Objective of the Nuclear Medicine Imaging Market
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 TOP START-UPS UNDER NUCLEAR MEDICINE IMAGING SECTOR
6 NUCLEAR MEDICINE IMAGING AMID COVID-19
7 GLOBAL NUCLEAR MEDICINE IMAGING MARKET REVENUE (USD BN), 2019-2027F
8 MARKET INSIGHTS BY PRODUCT
8.1 SPECT Imaging Systems
8.2 Hybrid SPECT Imaging Systems
8.3 Standalone SPECT Imaging Systems
8.4 PET Imaging Systems
8.5 Planar Scintigraphy Imaging SystemsA
9 MARKET INSIGHTS BY APPLICATION
10 MARKET INSIGHTS BY END-USER
10.2 Imaging Centers
10.3 Academic & Research Centers
11 MARKET INSIGHTS BY REGION
11.1 NORTH AMERICA NUCLEAR MEDICINE IMAGING MARKET
11.1.1 United States
11.1.3 Rest of North America
11.2 EUROPE NUCLEAR MEDICINE IMAGING MARKET
11.2.3 United Kingdom
11.2.6 Rest of Europe
11.3 ASIA-PACIFIC NUCLEAR MEDICINE IMAGING MARKET
11.3.5 Rest of Asia Pacific
11.4 REST OF WORLD NUCLEAR
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