Nuclear Medicine Equipment Market Trend 2021, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2030

Radionuclides are cleaned and compounded like other drugs to form radiopharmaceuticals. Nuclear medicine imaging offers information at the molecular and cellular level in the body with the help of uptake of radiotracers by the tissues.

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.

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Major players in the nuclear medicine equipment industry have adopted product launch as their key developmental strategy to expand their market foothold. For instance, in October 2016, Siemens Healthineers launched xSPECT Quant technology, which enables quantification of three additional isotopes using Symbia Intevoystem; this was a major evolution of SPECT/CT.

Nuclear medicine equipment are used to diagnose and treat various diseases, such as cancer, cardiovascular diseases, neurological diseases, and for drug development. These equipment are used to examine/study different processes including metabolism, tissue blood flow, expression of cell receptors in normal and abnormal cells, neurotransmitter activity, homing, cell trafficking, and apoptosis. Equipment used for anatomic imaging are single-photon emission computed tomography (SPECT) and positron emission tomography (PET), enhance the accuracy of nuclear medicine imaging. These devices when combined with computed tomography (CT) (PET/CT and SPECT/CT devices) deliver better results in areas such as unidentifiable structural alteration.

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. 

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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.

Key players profiled in this report are General Electric Company, Koninklijke Philips N.V., Siemens Aktiengesellschaft, Digirad Corporation, Mediso Medical Imaging Systems, Ltd., Toshiba Corporation, Bozlu Holding, Neusoft Corporation, Compañía Mexicana de Radiología CGR, S.A de C.V., and SurgicEye GmbH. Other players operating in this market include CMR Naviscan Corporation, DDD-Diagnostic A/S, Positron Corporation, and TeraRecon, Inc.

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