Nuclear medicine equipment makes use of radioactive substances (also called as nuclear medicine or radiopharmaceuticals) that are inserted into the body orally or intravenously. These systems capture the radiations emitted by radiopharmaceuticals to create images of the structures and activities inside the human body. These images enable physicians to look inside a human body to help determine the cause of an illness or injury and provide an accurate diagnosis. The nuclear medicine equipment market is expected to grow at a single-digit CAGR in the next five years. This market is poised to reach USD 2.13 Billion by 2020 from USD 1.78 Billion in 2015, at a CAGR of 3.6% during the forecast period.

The nuclear medicine equipment market is segmented on the basis of product, application, and end user. The market by product is segmented into hybrid PET, SPECT, and planar scintigraphy systems. The SPECT product segment is further divided into hybrid SPECT and standalone SPECT. On the basis of application, the market is segmented into oncology, cardiology, neurology and other applications which includes orthopedics, urology, thyroid related disorders, and gastroenterology. Based on the end users the market is divided into hospitals, imaging centers, academic and research institutes and others which include pharma/biotech companies and CROs. Rising prevalence/incidence of cancer, cardiac disorders, and neurological disorders; growing awareness about the importance of early diagnosis of diseases; launch of advanced nuclear medicine equipment in the market; and rising adoption of nuclear medicine equipment by end users are major factors driving this market. However, high cost of nuclear medicine equipment and shorter half-life of radiopharmaceuticals are expected to restrain the growth of the market. In addition, growing adoption of refurbished diagnostic imaging systems and hospital budget cuts acts as a challenge for the market. On the other hand, strong product pipeline coupled with expansion & penetration opportunities in emerging economies are expected to be lucrative opportunities for the market.

Philips Healthcare (Netherlands), GE Healthcare (U.K.), Siemens Healthcare (Germany), Digirad Corporation (U.S.), Mediso Medical Imaging Systems, Ltd. (Hungary), Toshiba Medical Systems Corporation (Japan), DDD-Diagnostics A/S (Denmark), Neusoft Medical Systems Co. Ltd. (China), and SurgicEye GmbH (Germany), CMR Naviscan Corporation (U.S.).

Scope of the Report:

This research report categorizes the nuclear medicine equipment market into the following segments:

Market, by Product

SPECT Hybrid SPECT Standalone SPECT

Hybrid PET

Planar Scintigraphy

Market, by Application

Oncology

Cardiology

Neurology

Others (Orthopedics, Urology, Thyroid Related Disorders, and Gastroenterology)

Market, by End User

Hospitals

Imaging Centers

Academic & Research Institutes

Others (Pharma/Biotech companies, and CROs)

Market, by Region

North America U.S. Canada

Europe EU5 Rest of Europe (RoE)

Asia-Pacific Japan China India Rest of Asia-Pacific (RoAPAC)

Rest of the World (RoW)

Nuclear Medicine Equipment Ecosystem Comprises of:

Raw Material Suppliers of nuclear medicine equipment

of nuclear medicine equipment Vendors/Suppliers/Distributors of nuclear medicine equipment

of nuclear medicine equipment End-users: Hospitals, imaging centers, academic & research institutes, among others.

Hospitals, imaging centers, academic & research institutes, among others. Other Stakeholders: government organizations, consulting firms, venture capitalists, among others

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The following customization options are available for the report:

Portfolio Analysis

Product matrix, which gives a detailed comparison of the product portfolios of each company (top 3 companies)

Company Information

Detailed analysis and profiling of additional market players (up to 3)

Nuclear medicine equipment make use of radioactive substances (also called as nuclear medicine or radiopharmaceuticals) that are inserted into the body orally or intravenously. These systems capture the radiations emitted by radiopharmaceuticals to create images of the structures and activities inside the human body. These images enable physicians to look inside a human body to help determine the cause of an illness or injury and provide an accurate diagnosis.

The global nuclear medicine equipment market is segmented on the basis of product, application, end user and geography. The global medicine equipment market is valued at an estimated USD 1.7 billion in 2015. The major factors driving the growth of this market are:

Introduction of new and advanced products : Companies in the market are increasingly focusing on developing technologically advanced imaging equipment. New product launches with advanced technologies or advanced features mainly deal with the development of more economical and easy-to-use nuclear medicine equipment that provide improved patient safety.

: Companies in the market are increasingly focusing on developing technologically advanced imaging equipment. New product launches with advanced technologies or advanced features mainly deal with the development of more economical and easy-to-use nuclear medicine equipment that provide improved patient safety. Advancements in radiotracers : Players operating in the market are increasingly focusing on the development of novel radiopharmaceuticals. The launch of novel radiopharmaceuticals that have the potential of providing better quality results will in turn drive the demand for nuclear imaging procedures for the diagnosis of various diseases.

: Players operating in the market are increasingly focusing on the development of novel radiopharmaceuticals. The launch of novel radiopharmaceuticals that have the potential of providing better quality results will in turn drive the demand for nuclear imaging procedures for the diagnosis of various diseases. Rising prevalence/incidence of cancer, cardiac disorders, and neurological disorders: With the growing prevalence of cancer, cardiac disorders, and neurological disorders, the demand for various diagnostic procedures, including nuclear imaging procedures, is expected to increase across the globe.

The high cost of nuclear medicine equipment is a major factor restraining the growth of this market. This is because small hospitals and imaging centers have restricted budgets owing to which the adoption of nuclear medicine equipment is low among these end users. Moreover, the shorter half-life of radiopharmaceuticals is another factor restraining the growth of the global market.

Based on product, the nuclear medicine equipment market is categorized into SPECT, hybrid PET, and planar scintigraphy. The SPECT segment is further categorized into hybrid SPECT and standalone SPECT. In 2015, the SPECT products segment is estimated to account for the largest share of market. However, the hybrid PET segment is expected to grow at the fastest rate during the forecast period.

The nuclear medicine equipment market is expected to reach USD 2.13 Billion in 2020, growing at a CAGR of 3.6%. The market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the fastest rate during the forecast period.

*Source: Organisation for Economic Co-operation and Development (OECD) Publications, American College of Radiology (ACR), European Association of Nuclear Medicine (EANM), National Institutes of Health (NIH), World Nuclear Association (WNA), Society of Nuclear Medicine and Molecular Imaging (SNMMI), Australian Nuclear Science and Technology Organisation (ANSTO), Canadian Nuclear Association (CNA), Nuclear Medicine Associations, Centers for Disease Control and Prevention (CDC), Expert Interviews, and MarketsandMarkets Analysis