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A recent report published by Infinium Global Research on nuclear imaging device market provides in-depth analysis of segments and sub-segments in the global as well as regional nuclear imaging device market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional nuclear imaging device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global nuclear imaging device market.
Nuclear imaging device represent a crucial and advanced frontier in modern medical diagnostics. By utilizing radioactive tracers or radiopharmaceuticals, these cutting-edge imaging systems provide valuable insights into the body's internal structures and metabolic processes. Through a combination of functional and anatomical information, nuclear imaging plays a vital role in diagnosing, staging, and monitoring various medical conditions. From oncology to cardiology, neurology, and beyond, these device have found widespread applications in multiple medical specialties, contributing to early disease detection and effective treatment planning. In this era of ever-evolving healthcare technology, nuclear imaging device continue to revolutionize medical imaging, offering non-invasive and safe procedures that enhance patient care and improve clinical outcomes.
The market for nuclear imaging device is driven by the rising prevalence of cancer, cardiovascular diseases, and neurological disorders is a significant factor contributing to the increased demand for nuclear imaging device in the healthcare industry. As these diseases become more prevalent globally, there is a growing demand for advanced diagnostic tools that can provide accurate and timely information to aid in their early detection and effective treatment. The government of different countries such as India, China, the U.S., Canada, and others are effectively allocating budgets for healthcare expenditures which motivates the manufacturers of the medical industry. According to the Centers for Medicare & Medicaid Services, “In 2020, the U.S. health care spending reached $4,124.0 billion, an increase of 9.7% compared to 2019”. This equates to an average of $12,530 per person in the country.” Positron Emission Computed Tomography (PET) is expected to maintain its dominance in the nuclear imaging device market based on product type in 2023. This is due to the widespread adoption of PET for its ability to provide functional information on metabolic processes in the body, which is critical in cancer management. The high sensitivity and specificity of PET in cancer diagnosis, staging, and treatment monitoring contribute to its significant role in oncology. The increasing global prevalence of cancer and the growing emphasis on personalized medicine are driving the demand for PET imaging device.
The global nuclear imaging device market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Among the regions, the nuclear imaging device market is anticipated to be dominated by North America, with the highest CAGR during the forecast period. The United States is anticipated to have a significant market share, exceeding 29% of the total value. The high growth in this region can be attributed to factors such as the presence of prominent manufacturers of nuclear imaging device in this region, increased government spending on the healthcare sector, rising incidence of chronic diseases, growing awareness of the benefits of early disease diagnosis, and healthcare system improvements. The healthcare market in the Asia Pacific is experiencing unprecedented growth, driven by factors such as higher healthcare costs, an aging demographic, a rise in chronic diseases, and a growing population of discerning healthcare consumers. According to the Asia Pacific Medical Technology Association Ltd., “The APAC MedTech industry's value is projected to reach US$ 157 billion by 2022, with a remarkable Compound Annual Growth Rate (CAGR) of 8.8%”.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 2.75 Billion |
| Market Size by 2030 | USD 4.56 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 5.71% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Product Type, By Application, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global nuclear imaging device market covers segments such as product type, application, and end user. On the basis of product type, the sub-markets include positron emission computed tomography (PET), single photon emission computed tomography (SPECT), planar scintigraphy, and hybrid systems. On the basis of application, the sub-markets include oncology, cardiology, neurology, orthopedics, and others. On the basis of end user, the sub-markets include hospitals, diagnostic imaging centers, research institutes, and others.
The report provides profiles of the companies in the market such as Siemens Healthcare GmbH, GE HealthCare, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION, Mediso Ltd., DIGIRAD HEALTH, INC., SurgicEye GmbH, Spectrum Dynamics Medical, DDD-Diagnostic A/S, and CMR Naviscan.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the nuclear imaging device market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
