PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424383
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1424383
Global nuclear imaging equipment market size is expected to reach US$ 4.29 Bn by 2030, from US$ 3.07 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 4.9% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023/2024: | US$ 3.07 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 4.90% | 2030/2031 Value Projection: | US$ 4.29 Bn |
Nuclear medicine is a branch of medical imaging that uses small amounts of radioactive material to diagnose or treat a variety of diseases, including many types of cancers, heart disease and certain other abnormalities within the body. Nuclear imaging determines the cause of the medical problem based on the function of the organ, tissue or bone. This is how nuclear imaging differs from an X-ray, ultrasound or any other diagnostic test that determines the presence of disease based on structural appearance. Nuclear medicine or radionuclide imaging procedures are noninvasive and usually painless medical tests that help physicians diagnose medical conditions. These imaging scans use radioactive materials called radiopharmaceuticals or radiotracers. Depending on the type of nuclear medicine exam are done, the radiotracer is either injected into a vein, swallowed or inhaled as a gas and eventually accumulates in the organ or area of your body being examined, where it gives off energy in the form of gamma rays. This energy is detected by a device called a gamma camera, a (positron emission tomography) PET scanner and/or probe.
Increasing prevalence of various cancers globally is expected to propel the market growth over the forecast period. Moreover, increasing research and development (R&D) and increasing product launches by the market players will aid in the market growth over the forecast period. For instance, according to the data published by the American Cancer Society on February 4, 2021, worldwide, an estimated 19.3 Mn new cancer cases and 10 Mn cancer deaths occurred in 2020.