The market research report for the Nuclear Medicine Equipment market includes a prediction for the years up to 2029 as well as in-depth information on the market’s size, rate of growth, revenue, trends, and potential. Also carefully analysed are the main variables affecting the development of this sector. This study involved a thorough quantitative examination of the market, and the findings can be used to inform the creation of growth- and productivity-boosting measures.
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Nuclear Medicine Equipment Market Overview:
Focusing on the most recent drivers, restraints, and opportunities for the Nuclear Medicine Equipment industry, the in-depth company firm’s study is on the Nuclear Medicine Equipment market. Discussions with eminent businesses follow to confirm the results. In the secondary review and analysis of the same, both paid and unpaid data sources are utilised. Data on each player’s supply and consumption are assembled using official government sources, independent data sources, and, in the case of publicly traded firms, financial reports of the company. Even if financial documents from businesses are not made available to the general public, the tax division of the local government may be able to obtain them.
Nuclear Medicine Equipment Market was value US$ 2.63 Bn in 2021 and is expected to reach US$ 3.56 Bn by 2029 at a CAGR of 3.87%.
COVID-19 Impact:
The analysis examines the existing and potential impacts of the COVID-19 pandemic on the entire market and delivers more accurate and true estimates in accordance with the market scenario. The world is in anguish due to the coronavirus outbreak. Almost every country has had strict social segregation laws in place, like lockdowns. This has caused disruptions in supply systems. The epidemic has altered societal structures all across the world. The market as a whole is affected by the COVID-19, and as that impact increases in 2019 and 2020, so does the rate of growth. In order to provide decision-makers with reliable data and experiences, businesses and organisations are being compelled by the COVID-19 tragedy to manage risk and digitise operations. This is consistent with the most recent analysis, research, and recommendations from MMR on the management challenges that are crucial for businesses and organisations and have a substantial market impact.
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Nuclear Medicine Equipment Market Key players:
• GE Healthcare
• Cardinal Health Inc.
• Siemens AG
• Digirad Corporation
• Mediso Medical Imaging Systems, Ltd.
• Toshiba Medical Systems Corporation
• DDD-Diagnostics A/S
• Neusoft Medical Systems Co. Ltd.
• Mallinckrodt plc
• SurgicEye GmbH
• CMR Naviscan Corporation
• CANON MEDICAL SYSTEMS CORPORATION
• DIGIRAD CORPORATION
• FUJIFILM Holdings Corporation
• Bozlu Holding
• Compañía Mexicana de Radiología CRG
• Bartec Technologies Ltd.
Key company and market share insights:
The major competitors are listed here for audiences to learn about. The main strategic actions these businesses take to maintain market dominance are reviewed in this study, including product portfolio strengthening, M&A, partnerships, new, innovative products, and geographic penetration. In addition to critical financial information and current events, the report also provides the company’s goals. The companies’ global sales, earnings, and profit margins from 2017 through 2022 are also covered in more detail for users.
Nuclear Medicine Equipment Market Dynamics:
Rising cancer prevalence, cardiovascular complications, and neurodegenerative problems; growing awareness about the importance of early disease diagnosis; the introduction of advanced nuclear medicine equipment into the market; and the increasing adoption of nuclear medicine appliances by end users are major factors driving the market growth. However, the high cost of nuclear medicine equipment and radiopharmaceutical half-life is estimated to limit the market growth. Also, the increased usage of repurposed diagnostic imaging systems, as well as hospital budget constraints, pose a challenge to the industry growth. On the other hand, the market is likely to benefit from a solid product pipeline as well as growth and penetration prospects in emerging markets. Some of the leading key players in the global Nuclear Medicine Equipment Market include Philips Healthcare, GE Healthcare, and Cardinal Health Inc. They are continuously strategizing on mergers and acquisitions, strategic alliances, joint ventures, and partnerships for the growth of their market shares.
The Nuclear medicine equipment is designed to solve the diagnostic challenges, a medical image using a small amount of radioactive material to diagnose and control the severity of or for treating numerous disease for instance cancer, heart diseases, neurological disorders, and other abnormalities within the body.
The increasing prevalence of disease among the geriatric population, durable product pipeline, and a growing demand for nuclear medicine procedures in the emerging market are expected to fuel market growth in the forecast years. The high cost of nuclear medicine equipment’s and reduced half-life radiopharmaceuticals hamper the growth of the nuclear medicine equipment market globally. Furthermore, lack of effective data & evidence that supports nuclear medicines improves the patient’s outcome, less reimbursement of medical imaging, and lack of trained physician and radiologist can restraint growth of global nuclear medicine equipment market.
Nuclear Medicine Equipment Market Segment:
The increasing prevalence of disease among the geriatric population, durable product pipeline, and a growing demand for nuclear medicine procedures in the emerging market are expected to fuel market growth in the forecast years. The high cost of nuclear medicine equipment’s and reduced half-life radiopharmaceuticals hamper the growth of the nuclear medicine equipment market globally. Furthermore, lack of effective data & evidence that supports nuclear medicines improves the patient’s outcome, less reimbursement of medical imaging, and lack of trained physician and radiologist can restraint growth of global nuclear medicine equipment market.
Positron Emission Tomography (PET) dominated the industry in 2021 caused by high-resolution images provided by PET technology that is majorly used in oncology cases to obtain enhanced information about a tumour. Positron Emission Tomography (PET) is sub-segmented into standalone and hybrid. Cost-effectiveness of SPECT will significantly drive segment growth during the forecast period.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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