Increasing demand for precise diagnosis methods is one of the significant factors influencing the market growth.
NEW YORK, NY, UNITED STATES, November 17, 2021 /EINPresswire.com/ — The nuclear medicine imaging market size is estimated to reach USD 6,047.2 Million from USD 4,249.4 Million in 2020, delivering a CAGR of 4.6% through 2027. The market growth is driven by a plethora of factors, including the growing prevalence of cancer & cardiovascular diseases, investments for the modernization of diagnostics imaging centers, the introduction of new & advanced products, along with the development of new radiotracers.
Favorable reimbursement scenario for positron emission tomography (PET scans) in many countries, along with the high accuracy of nuclear imaging, is propelling nuclear medicine imaging market growth through 2027.
In January 2019, Kansen voor West organization and the EFRO (European Fund for Regional Development) had funded USD 7.67 million to FIELD-LAB for developing new nuclear medicines for cancer treatment. Such government initiatives and funding for the development of new techniques will further propel nuclear medicine market share over the forecast period.
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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the Nuclear Medicine Imaging market on the basis of key companies, product types, applications, and key regions to impart better understanding of the Nuclear Medicine Imaging market.
Leading Companies Profiled in the Report are:
GE Healthcare, Lantheus Medical Imaging, Curium, Nordion, Novartis, Bayer, Eczacibasi-Monrol Nuclear Products, Cardinal Health, Bracco Imaging SPA, and Siemens Healthineers, among others.
Further key findings from the report suggest
• Based on type, the positron emission tomography (PET) systems segment is anticipated to witness the fastest growth rate of 5.1% through 2027.
• The single-photon emission computed tomography systems accounted for a major chunk of the global nuclear medicine market share in 2019 and is forecast to register a CAGR of 4.4% through 2027. SPECT imaging is experiencing high demand as it offers complementary functional and anatomic image data to improve the depth of information, which is less expensive than PET and widely available.
• On the basis of application, the oncology segment dominated the nuclear medicine market revenue share in 2019 and is expected to witness a CAGR of 4.1% over the projected timeframe.
• On the basis of end-use, the research institute segment is estimated to witness a notable growth rate of 5.6% through 2027.
• In 2019, the hospitals segment accounted for the largest market share in 2019 and is estimated to exhibit a CAGR of 4.2% during the analysis period. The key factors responsible for segmental growth are the availability of well-resourced diagnostic rooms, the existence of highly skilled healthcare professionals, improved health coverage for hospital-based healthcare services from several private and group insurance plans, and substantial funds for investing in new equipment and technologies.
• In the regional landscape, the Asia Pacific region is estimated to register a growth rate of 5.9% through 2027 on account of the high demand for nuclear medicine in emerging economies, including India and China, with rising healthcare standards in these countries.
• In 2019, Europe accounted for the second-largest share of the nuclear medicine market and is anticipated to showcase a CAGR of 4.4% through 2027 on account of the presence of leading market players in the region.
• North America dominated the market in 2018 and is likely to observe a growth rate of 4.4% in the forecast period. The market dominance of North America is owing to rapid technological advancements, such as the growing incidence of target diseases, the development of molecular imaging, and the launch of new radiopharmaceuticals for diagnosis, among others.
• These industry players are adopting several strategies such as acquisitions, mergers, collaborations, new product development, and capacity expansion, thereby supporting the overall growth of the market. Moreover, rising investments by key industry players in R&D activities will further bolster market growth over the analysis period.
• For instance, in June 2019, Bracco Imaging SPA, a leading company in the diagnostic imaging business, entered a definitive agreement for the acquisition of a molecular imaging company, Blue Earth Diagnostics, based in the U.K.
For the purpose of this report, Reports and Data has segmented the Global Nuclear Medicine Imaging Market on the basis of type, application, end-user, and region:
Type Outlook (Revenue, USD Million; 2018-2028)
• Single-Photon Emission Computed Tomography (SPECT) Systems
• Positron Emission Tomography (PET) Systems
Application Outlook (Revenue, USD Million; 2018-2028)
End-User Outlook (Revenue, USD Million; 2018-2028)
• Diagnostic Centers
• Research Institutes
Key Regions Covered in the Report:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.
Key Benefits of the Global Nuclear Medicine Imaging Market Report:
• In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks
• Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects
• Analysis and accurate forecast estimation of the Global Nuclear Medicine Imaging Market
• Study of the key players including SWOT analysis and Porter’s Five Forces
• Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution
• Study of the developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market features
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Highlights of the TOC of the report:
• Chapter 1: Market overview
• Chapter 2: Global Nuclear Medicine Imaging market analysis
• Chapter 3: Regional analysis of the Nuclear Medicine Imaging industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue analysis based on types and applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, Restraints, Challenges, and Opportunities
• Chapter 9: Gross Margin and Price Analysis
• So on
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Source: EIN Presswire