The Global Nuclear Imaging Equipment Market Analysis| Coherent Market Insights

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2. NUCLEAR IMAGING EQUIPMENT MARKET ANALYSIS Nuclear Imaging Equipment Market - Global Forecast to 2026, by Product Type (Single-Photon Emission Computed Tomography (SPECT) Systems, Hybrid Positron Emission Tomography (PET) Systems, and Planar Scintigraphy), by Application (Oncology, Cardiology, Neurology, and Others), by End User (Hospitals, Imaging Centers, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, Outlook, and Opportunity Analysis, 2018-2026

3. Market Insights • Nuclear imaging involves examining various organs and tissue structures and functions. It involves use of small doses of radioactive materials called as radiotracers, which are introduced in the bloodstream. The body structure under examination is inspected as radiotracer travels through the area or gathers together in the area to offer reading in the form of gamma rays. These gamma rays are identified by a device (specifically developed to read gamma rays) and the rays are projected on a digital system. Several diseases such as cancer and cardiovascular diseases can be identified in their earliest stages due to the unique information obtained by nuclear medicine imaging, which otherwise is challenging to obtain using other imaging procedures. Except intravenous injections, all other route of administrations used for nuclear medicine imaging are noninvasive. • The global nuclear imaging equipment market size was valued at US$ 2,220.5 million in 2017 and is expected to exhibit a CAGR of 4.4% over the forecast period (2018 – 2026).

4. Figure 1. Global Nuclear Imaging Equipment Market Value (US$ Mn), by Region, 2017

5. Market Drivers • The global nuclear imaging equipment market is expected to be driven by increasing prevalence of chronic diseases including cardiac diseases and cancer • Increasing prevalence of chronic diseases is expected to propel growth of the nuclear imaging equipment market. According to a report published by Center for Chronic Disease Prevention and Health Promotion 2012, around 117 million people were suffering from at least one chronic health condition and one in four adults had two or more chronic health conditions in the U.S. Moreover, according World Health Organization (WHO), chronic diseases are expected to account for around three-quarters of all deaths worldwide by 2020. WHO further stated that around 71% of these deaths would occur due to Ischaemic Heart Disease (IHD) and 75% due to stroke.

6. Furthermore, increasing funding for development of advanced nuclear imaging equipment is expected to propel the market growth. For instance, the National Institute of Biomedical Imaging and Bioengineering is focusing on offering funding to develop new radio tracers and technologies in order to enhance image quality of nuclear imaging equipment. Moreover, in November 2018, the Radiological Society of North America (RSNA) Research & Education (R&E) Foundation granted US$ 40,000 for its joint research grants with Canon Medical Systems. • However, high installation and operating costs and product recalls are expected to limit the adoption of nuclear imaging systems in small and middle-sized hospitals, thereby hindering the market growth. For instance, in November 2018, GE Healthcare announced recalling its Millennium Nuclear Medicine Systems due to risk of detector detachment that may lead to fatal injuries in patients.

7. Figure 2. Global Nuclear Imaging Equipment Market Share (%), by Product Type, 2018 and 2026

8. Market Growth North America is expected to hold a dominant position in the global nuclear imaging equipment market. This is owing to increasing adoption of new imaging equipment, which in turn is expected to improve cancer treatment with enhanced image quality. For instance, in October 2018, the Center for Quantitative Cancer Imaging at Huntsman Cancer Institute (HCI), University of Utah, installed— nanoScan PET/MRI 3T preclinical in vivo imaging system for screening rodent tumor models. Furthermore, increasing prevalence of cancer in North America is expected to propel demand for nuclear imaging equipment over the forecast period. A report by the National Cancer Institute projected around 1,735,350 new cases of cancer and 609,640 deaths due to the disease in the U.S in 2018.

9. Competitive Section Medical Systems Corporation, Neusoft Medical Systems Co., Ltd., Mediso Medical Imaging Systems Co., Ltd., CMR Naviscan Corporation, Digirad Corporation, SurgiEye GmbH, and Positron Corporation

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