Global Nuclear Medicine Imaging Market is expected to reach the market valuation of USD X billion by 2027 expanding at a reasonable CAGR of X% during the forecast period (2021-2027) from USD X billion in 2020. nuclear medicine imaging takes photos based on the chemistry of the human body. Due to the rising prevalence of target illnesses, the technology is seeing a spike in usage.
In the last decade, there has been a major evolution of hybrid systems due to technological breakthroughs in the field of imaging. The use of integrated PET modalities is a significant advancement in this area. The PET/CT modality has been so successful in terms of innovation that major imaging system manufacturers no longer offer solo PET systems. Furthermore, one of the key drivers for the market is the growth in the occurrence of cancer and cardiac diseases. Nuclear medicine has a lot of potential for treating cancer and heart disease. There is substantial evidence that using nuclear imaging techniques to diagnose a tumor has a greater influence on patient management in terms of tumor surveillance and treatment response.
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The COVID19 has resulted in a profound re-evaluation of the advantages and costs of cancer care. The pandemic has been a devastating disease worldwide. Although an important number of young healthy people have been affected, elderly, comorbid and immunosuppressed patients have been especially compromised. For instance, the largest report up until September 30, 2020, came from the COVID-19 and Cancer Consortium (CCC19), that reported 30-day all-cause mortality for 928 patients from the United States, Canada, and Spain with laboratory confirmed SARS-CoV-2 and a diagnosis of invasive or hematologic malignancy between March 17, and April 16, 2020. Of those receiving anticancer therapy, only 16% (38 patients) had received immunotherapy, including immune checkpoint blockade (ICB), allogeneic stem cell transplant, or adoptive cell therapy. The COVID-19 pandemic has had a substantial impact on hospital resources around the world. This has mostly been accomplished by drastically lowering in-patient and outpatient treatment for various diseases, as well as instituting infection prevention and control methods.
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Based on therapy, the market is fragmented into monoclonal antibodies, vaccines, checkpoint inhibitors, cell therapies, immune system modulators, adoptive cell transfer, cytokines, and others. The monoclonal antibodies segment dominated the market in 2020 and generated the total revenue of USD 31.79 billion. It is anticipated to maintain its dominance during the forecast period owing to the diverse set of clinically relevant mechanisms of action like directly targeting tumor cells while simultaneously promoting the induction of long-lasting anti-tumor immune responses. However, the bre-ast cancer segment is expected to witness highest CAGR during the forecast period.
The various application wherein cancer Immunotherapy is utilized includes SPECT Imaging Systems, PET Imaging Systems, and Planar Scintigraphy Imaging SystemA. In 2020, SPECT imaging systems segment accounted for a maximum market revenue share of X% and is expected to remain dominant during the analyzed period.
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Based on end-user, the market is fragmented into hospitals, imaging centers, academic & research centers, and others. The hospitals segment dominated the market in 2020 and generated the total revenue of USD X billion. It is anticipated to maintain its dominance during the forecast period. Moreover, the segment is also expected to witness highest CAGR during the analyzed period.
Additionally, the report provides detailed initiatives that are being taken in the field of Nuclear Medicine Imaging. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD X billion in 2020 owing to the increasing cancer incidence and higher healthcare spending. At the same time, Asia-Pacific is anticipated to grow at the highest CAGR of 11.93% during the forecast period.
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Siemens Healthineers, GE Healthcare, Philips, Digirad Corporation, Mediso Medical Imaging Systems, Positron Corporation, Cardinal Health Inc., Bracco Imaging SpA, Hitachi Medical Corporation, Canon Medical Systems Corporation are some of the prominent players operating in the global Nuclear Medicine Imaging market. Several M&A’s along with partnerships have been undertaken by these players to develop Nuclear Medicine Imaging.
Global Nuclear Medicine Imaging Market Segmentation
Market Insight, by Product
Market Insight, by Application
Market Insight, by End-User
Market Insight, by Region
Top Company Profiles
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