Nuclear Imaging Equipment Market worth 2.85 Billion USD by 2021

The report"Nuclear Imaging Equipment Market by Product (SPECT (Hybrid SPECT, Standalone SPECT), Hybrid PET, & Planar Scintigraphy), Application (Oncology, Cardiology & Neurology) & End user (Hospitals, Imaging Centers) - Global Forecasts to 2021", that analyzes and studies the major market drivers, restraints/challenges, and opportunities.

Browse 84 market data tables and 43 figures spread through 166 pages and in-depth TOC on “Nuclear Imaging Equipment Market”

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This report studies the global nuclear imaging equipment market for the forecast period of 2016 to 2021. This market is expected to reach USD 2.85 Billion by 2021 from USD 2.25 Billion in 2016, growing at a CAGR of 4.8%.

The global nuclear imaging equipment market is segmented on the basis of product, application, end user, and region.

Based on product, the nuclear imaging equipment market is categorized into SPECT systems, hybrid PET systems, and planar scintigraphy. In 2016, the SPECT systems segment is expected to account for the largest share of the nuclear imaging equipment market. 

The SPECT systems are further segmented into hybrid SPECT and standalone SPECT systems. In 2016, the hybrid SPECT segment is expected to account for the largest share of the SPECT nuclear imaging equipment market. Advantages such as better imaging ability, high resolution, and the ability to show molecular processes in vivo render hybrid SPECT systems superior than standalone systems.

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Based on application, the nuclear imaging equipment market is segmented into oncology, cardiology, neurology, and other applications (orthopedics, urology, thyroid-related disorders, and gastroenterology). In 2016, the oncology application segment is expected to account for the largest share of the nuclear imaging equipment applications market. 

The rising incidence and prevalence of cancer across the globe, initiatives taken by public and private organizations to curb the same, and development of advanced systems and radiotracers for oncology are the key factors contributing to the large share of the oncology segment.

Based on end user, the nuclear imaging market is segmented into hospitals, imaging centers, academic & research centers, and other end users (pharmaceutical & biotechnology companies and CROs). In 2016, the hospitals segment is expected to account for the largest share of the market. The rise in the use of advanced imaging solutions and hybrid imaging systems in hospitals and enhanced care quality is driving the growth of this segment.

Based on region, the nuclear imaging equipment market is divided into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The RoW region comprises Latin America, the Middle East and Africa. In 2016, North America is projected to account for the largest share of the nuclear imaging equipment market, followed by Asia-Pacific and Europe. Increase in adoption of nuclear imaging technologies and rapid growth in aging population, along with high incidence and prevalence of chronic diseases, are propelling the growth of the North American nuclear imaging equipment market.

Factors driving the global market include introduction of new and advanced products, investment for the modernization of diagnostic imaging centers, development of new radiotracers, and increasing incidence and prevalence of cancer & cardiovascular diseases. 

However, factors such as shutdown of National Research Universal (NRU) reactor, high cost of nuclear imaging equipment, and shorter half-life of radiopharmaceuticals are hindering the growth of the market.

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The major players in the global nuclear imaging equipment market are Siemens Healthineers (Germany), Philips Healthcare (Netherlands), and GE Healthcare (U.S.).These companies are dominant in the nuclear imaging market mainly due to their well-established presence in the field of medical imaging, presence in over 50 countries, high R&D investments, and strong sales and distribution force. The other players in the market include Toshiba Medical Systems Corporation (Japan), Neusoft Medical Systems Co., Ltd. (China), Mediso Medical Imaging Systems Ltd. (Hungary), Digirad Corporation (U.S.), CMR Naviscan Corporation (U.S.), SurgicEye GmbH (Germany), and DDD Diagnostics (Denmark).

The Respiratory Diagnostics Market Driven By Increasing Adoption Of Respiratory Diagnostics Products In Point-Of-Care And Home-Care Diagnostics

The global respiratory diagnostics market is projected to reach USD 7.45 Billion by 2021 from USD 5.24 Billion in 2016, at a CAGR of 7.3% from 2016 to 2021. In this report, the global market is broadly segmented by product and service, test type, disease, end user, and region.

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 The major factors restraining the growth of Respiratory Diagnostics Market

Increasing prevalence of respiratory diseases, growing geriatric population, and technological advancements in respiratory diagnostic systems are the major factors driving the growth of the global market. On the other hand, rising healthcare costs (a major factor limiting the use of novel respiratory diagnostic techniques) and reimbursement concerns.

Market Geography :

North America is expected to account for the largest share of the global respiratory diagnostics market in 2016, followed by Europe. The growth of the market in North America is majorly driven by the rising prevalence of respiratory diseases and growing geriatric population in the region. Other factors supporting the growth of this market include the presence of an advanced healthcare system and strong distribution channels for respiratory diagnostic products in North America.

Key Players:

The respiratory diagnostics market is dominated by established players such as Philips Healthcare (Netherlands), Becton, Dickinson and Company (U.S.), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Alere, Inc. (U.S.).

About Report :

On the basis of product and service, the respiratory diagnostics market is segmented into instruments & devices, assays & reagents, and software & services. The instruments and devices segment is expected to account for the largest share of the market in 2016. The continuous requirement of diagnostic instruments and devices in laboratories, point-of-care, and home care is a major factor driving the uptake of instruments and devices.

On the basis of test type, the respiratory diagnostics market is broadly classified into mechanical tests, imaging tests, traditional diagnostic tests, and molecular diagnostic tests. In 2016, the traditional diagnostic tests segment is expected to account for the largest share of the market. The large share of this segment can be primarily attributed to the quick turnaround time of these tests.

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Interventional Cardiology and Peripheral Vascular Devices Market Trends

Rising aging population, rising incidence of cardiovascular diseases, increasing demand of minimally invasive procedures, and technological advancements are the major factors driving the growth of this market.The global interventional cardiology and peripheral vascular devices market is expected to reach USD 31.47 Billion by 2021 from USD 21.83 Billion in 2016, at a CAGR of 7.1% from 2016 to 2021. 

                                                  

On the basis of product, the interventional cardiology market is segmented into angioplasty balloons, angioplasty stents, catheters, EVAR stent grafts, IVC filters, plaque modification devices, hemodynamic flow alteration devices, and accessories. The angioplasty stents segment showcase high growth potential owing to technological advancements, rising number of regulatory approvals, and increasing investments by companies to develop new devices.

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On the basis of type, the angioplasty stents market is segmented into drug-eluting stents, bare-metal stents, and bioabsorbable stents. The drug-eluting stents segment is projected to witness the highest growth in this market due to increasing number of regulatory approvals and new product launches.

On the basis of type, the catheters market is segmented into IVUS/OCT, angiography catheters, and guiding catheters. The IVUS/OCT segment is projected to witness the highest growth in this market due to increasing penetration rates and rapid advancements & innovations in these systems.

On the basis of type, the EVAR stent grafts market is segmented into abdominal aortic aneurysms and thoracic aortic aneurysms. The abdominal aortic aneurysms segment is projected to witness the highest growth in this market due to rising incidence of smoking and hypertension.

Geographically, the interventional cardiology market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in the North American region is primarily driven by the rising incidence of cardiovascular diseases, rapidly growing geriatric population, and technological advancements. However, the Asian market is projected to grow at the highest CAGR during the forecast period.

Key players operating in the interventional cardiology market include Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), B. Braun Melsungen AG (Germany), Cordis Corporation (U.S.), C.R. Bard, Inc. (U.S.), Medtronic plc (U.S.), and Terumo Corporation (Japan).

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Rising Needle stick Injuries and Infections | Driving The Growth Of Needles Market

The Major factors driving the growth Of Needles Market

The growing geriatric population, increasing number of hospitals in emerging markets, high prevalence of chronic diseases, and increasing demand for vaccines, the rising needlestick injuries and infections, use of needle-free technology, and growing focus on the development of alternative drug delivery methods .

 The global needles market is projected to reach USD 8.47 Billion by 2022 from USD 5.82 Billion in 2017, at a CAGR of 7.8% during the forecast period.

Key Players :

A majority of the leading players, including Medtronic plc (Ireland), Ethicon US, LLC. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (U.S.), Stryker Corporation (U.S.), and Boston Scientific Corporation (U.S.), among others in the needles market are developing advanced needles enabled with safety features to secure their position in the market. Companies also focus on upgrading their product offerings and expanding their distribution networks to gain a larger share of the market through partnerships and collaborations.

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Based on product, the needles market is segmented into suture needles, blood collection needles, ophthalmic needles, dental needles, insufflation needles, pen needles, and other needles. The pen needles segment is expected to hold the largest share of the needles market in 2017. The demand for pen needles is expected to increase with the growing prevalence of diabetes. Around 415 million people had diabetes in 2013, worldwide; by 2040, this figure is expected to increase to 642 million (Source: International Diabetes Federation). Thus, with the increasing prevalence of diabetes across the globe, the demand for pen needles will increase during the forecast period.

On the basis of the delivery mode, the needles market is segmented into hypodermic, intravenous, intramuscular, and intraperitoneal needles. The hypodermic needles segment is expected to account for the largest share of the needles market in 2017. These needles are used for injecting drugs into the subcutaneous layer of skin; this enables the quick absorption of active compounds into the bloodstream, which is the key factor contributing to the market growth of this segment.

This research study involved the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg Business, Factiva, and Avention) to identify and collect information useful for this technology-based, market-oriented, and commercial study of the global needles market. In-depth interviews were conducted with various primary respondents that mainly included key industry participants, subject-matter experts (SMEs), C & D level executives of key market players, and independent industry consultants, among others; to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects of the global needles industry.

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