Singapore Nuclear Medicine Equipment Market Massive Margin Growth Strikes During 2022-2030

Nuclear medicine equipment including PET/CT and SPECT scans are utilized for collect radiation from small radioisotopes that reside into the body. This equipment thus helps in carrying out diagnosis of diseases and analyze the treatment response to the patient. The crucial factors driving the growth of the market include advent of advanced equipment, surge in prevalence of cardiovascular diseases and cancer, increase in investment in modernization of diagnostic imaging centers, and radiotracers developments.

According to the report published by Allied Market Research, Nuclear Medicine Equipment Market by Product Type (SPECT and PET), Application (Neurology, Oncology, Cardiology, and Others), and End User (Hospitals, Imaging Centers, and Academic & Research Institutes) – Global Opportunity Analysis and Industry Forecast, 2022-2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “Rise in incidence of cancer and cardiovascular diseases, and the need for early diagnosis of these diseases boosts the market growth. In addition, the hospitals segment is expected to dominate other segments as the number of patients visiting hospitals has increased. Moreover, hospitals have the capital required to purchase such expensive equipment.”

Oncology is anticipated to dominate the global nuclear medicine equipment market throughout the analysis period, owing to the rise in incidence of cancer and increase in awareness about its early diagnosis. Neurology segment has witnessed highest growth rate as these equipment are used to diagnose and assess the treatment response for various neurological disorders such as Alzheimers disease, brain death/injury, vascular dementia, stroke and transient ischemic attack, and others.

The hospitals segment accounted for nearly two-fifths of the total market share in 2021, and is estimated to maintain its position during the forecast period. This is due to the growth of the number of patients in hospitals with increase in the occurrence of chronic diseases. Based on region, North America contributed the highest market share in the market in 2021, and is expected maintain its leadership position in the future. This is due to the presence of huge geriatric population, advancements in technology, supportive imbursement policies, and affordability for buying modern and expensive equipment.

North America dominated the market in 2021, and is maintain its position in the future, due to the presence of a large geriatric population, technological advancements, availability of favorable imbursement policies, and affordability to purchase modern and expensive nuclear medicine equipment.

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Key players in the global nuclear medicine equipment market include General Electric Company, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Digirad Corporation, Mediso Medical Imaging Systems, Ltd., Toshiba Corporation, Bozlu Holding, Neusoft Corporation, Compaa Mexicana de Radiologa CGR, S.A. de C.V., and SurgicEye GmbH.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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