Nuclear Imaging Market to Stagnate in US While AsiaPacific Sees Strong Growth by 2020

SAN FRANCISCO - Dec. 18, 2014 - PRLog -- The global market for nuclear imaging equipment, which covers Positron Emission Tomography (PET) and Single-Photon Emission Computed Tomography (SPECT) systems, will expand from $1.83 billion in 2013, at a modest Compound Annual Growth Rate (CAGR) of 3.3%, to reach $2.2 billion by 2020.

Reportstack’s latest report on Nuclear Imaging - PET and SPECT Equipment - Global Analysis and Market Forecasts states that while the US market will remain steady at around $1.15 billion throughout the forecast period, the country will see its global share fall from 69% in 2013 to 53% by 2020. Meanwhile, the Asia-Pacific (APAC) region will see its share rise from 16% to 29% over the same time frame.

Complete report is available at http://www.reportstack.com/product/187759/medipoint-nuclear-imaging-pet-and-spect-equipment-global-analysis-and-market-forecasts.html

According to Andrew S. Thompson, Ph.D., GlobalData’s Senior Analyst covering Medical Devices, a period of rapid increase in US procedures, particularly using PET, has led to measures to decrease the number of procedures that can be reimbursed, therefore reducing the demand for nuclear imaging systems.

Thompson explains: “The economic downturn has been a continued concern within the entire diagnostic imaging space, and the high cost of nuclear imaging equipment and procedures has made this market more susceptible to the downturn. US nuclear imaging market growth is heavily dependent on the replacement of existing systems because the capacity for new installations is limited.

“As the US economy recovers, it can be expected that the equipment will be replaced. However, key opinion leaders interviewed by GlobalData reported that not all equipment is replaced at the end of the average product lifecycle, which will negatively impact sales.”

While the US market is likely to remain static, with a CAGR of only 0.08% from 2014 to 2020, APAC economies, especially China and Japan, will continue to provide immense opportunities for increasing sales within the global nuclear imaging market arena.

Thompson continues: “Japan will see the fastest growth over the forecast period, with its market value more than doubling from $191.3 million in 2013 to $392.1 million by 2020.

“In global terms, the rising prevalence of disease, along with an aging and growing population, will act as major drivers of increased nuclear imaging use during the forecast period.”

Key Findings from Nuclear Imaging - PET and SPECT Equipment - Global Analysis and Market Forecasts Report:

- Nuclear Imaging is a moderately growing market, with a CAGR of 3.3% for the period to 2020

- PET/CT, SPECT, SPECT/CT and Scinitgraphy are the major techniques in nuclear imaging

- US dominates the world market for nuclear imaging equipment

- US will see lowest growth in nuclear imaging equipment thanks to reimbursement pressures

- Japan and China will present the greatest opportunities for growth, with respective market shares increasing by 75% and almost 100% during the forecasted period

- BIC nations will experience the highest growth rates in nuclear imaging equipment during the forecast period

- Non-PET nuclear imaging procedures in the developed markets (US, 5EU, Japan) likely overall to fall during forecast period, as a result of increasing reimbursement pressures and new technologies

- PET imaging procedures in all markets likely to increase during the forecast period, despite reimbursement pressures, due to increased number of indications.

For more details and table of contents please visit http://www.reportstack.com/product/187759/medipoint-nucle... .