Nuclear Medicine Equipment Market estimated to reach $2,647 million by 2022, growing at a CAGR of 3.9% .

Nuclear medicine equipment, such as PET/CT and SPECT scans, are used to capture radiation from smallamount of radioisotopes that are introduced into the body. These equipment thus help to diagnose diseases and assess the response of treatment provided to the patient. The major factors that drive the market growth are emergence of new and advanced equipment, increase in prevalence of cancer and cardiovascular diseases, rise in investment in modernization of diagnostic imaging centers, and development of radiotracers.

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Nuclear Medicine Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to reach $2,647 million by 2022 from $2,012 million in 2015 with a CAGR of 3.9% from 2016 to 2022. Oncology segment held more than two-thirds share of the global market in 2015.

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.

Hospitals dominated with around two-fifths of the global market value in 2015, and are expected to continue this trend during the forecast period. The number of patients visiting hospitals is growing to due increase in the occurrence of chronic diseases, which has fueled the market growth for this segment.

North America dominated the market in 2015, and is maintain its position in the future, due to the presence of a large geriatric population, technological advancements, availability of favorable imbursementpolicies, 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.

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