Technological advancements in medical sector are driving the growth of the Saudi Arabia Nuclear Imaging Equipment Market, in the forecast period, 2023-2027F.
According to TechSci Research report on, “Saudi Arabia Nuclear Imaging Equipment Market - By Region, Competition Forecast & Opportunities, 2027”, Saudi Arabia nuclear imaging equipment market is anticipated to grow with an impressive CAGR in the forecast period, 2023-2027 on the account of expanding healthcare sector and growing investments. Increasing instances of cancer and its various types among the population of the country is further driving the growth of the Saudi Arabia nuclear imaging equipment market in the upcoming five years.
Also, growing financial aids from the government and the private fundings are further supporting the growth of the Saudi Arabia nuclear imaging equipment market in the next five years. Increasing research and technological advancement to develop innovative product is also major reason for the growth of the Saudi Arabia nuclear imaging equipment market in the future five years.
Additionally, significant evolution of the hybrid models with advanced technologies and involvement of the major market players in the sector are also playing a vital role in the growth of the Saudi Arabia nuclear imaging equipment market in the forecast years through 2027.
Nuclear imaging equipment are vital medical devices that are utilized for the diagnosis of cancer, and other chronic diseases like cardiovascular diseases and neurological disorders are anticipated to substantiate the growth of the Saudi Arabia nuclear imaging equipment market in the forecast period.
Use of radioactive substance is rather harmful for the human body and excessive exposure to the same causes various side-effects, but the monitored utilization of the radiotracers and advanced technology to identify the smallest amount of radioactive material would help in early diagnosis of the diseases thus aiding the growth of the Saudi Arabia nuclear imaging equipment market in the upcoming five years.
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The Saudi Arabia nuclear imaging equipment market is segmented by type, application end user, competitional landscape, and regional distribution.
Based on type, the market is further differentiated between PET imaging systems and gamma camera imaging systems. PET imaging systems are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of easier accessibility of the device.
With increasing number of experts and skilled technicians, further aid the demand for early and effective diagnosis of the diseases thus leading to support the growth of the Saudi Arabia nuclear imaging equipment market in the next five years.
Moreover, PET imaging systems have the ability to provide high-resolution images and identify the comprehensive information on cancer causing tumors is expected to further substantiate the market growth. Gamma camera imaging systems are anticipated to hold significant shares of the market on the account of technological advancements, increasing investment in the healthcare sector, and consistent research for the innovative product development.
On the basis of application, the market segment is bifurcated into oncology, cardiology, neurology, and others. Oncology sub-segment is anticipated to dominate the market segment and hold largest revenue shares due to increasing number of cancer patient in the country. In past year 2020, the country accounted 27,885 new cancer cases and the numbers are still increasing.
Increasing advancement in the technologies and expertise of the technicians to identify the cancerous cells through radiotracers is anticipated to aid the growth of the Saudi Arabia nuclear imaging equipment market in the next five years. Neurology applications are also anticipated to hold significant shares of the market on grounds of involvement of radiotracers for the identification of the root cause of deformities.
PET/CT and PET/MRI in combination are utilized for the analysis of the brain disorders, and thus support the growth of the sub-segment along with the market. Cardiovascular applications are expected grow on the backbone of technological advancement in the medical devices. Increasing instances of cardiac failure, and growing number of the geriatric population that suffer from the cardiovascular diseases are further driving the growth of the Saudi Arabia nuclear imaging equipment market in the future five years.
A partial list of major market players of the Saudi Arabia nuclear imaging equipment market includes:
· GE Healthcare Saudi Arabia
· Philips Healthcare Saudi Arabia Ltd.
· Siemens Healthineers Saudi Arabia
· Canon Medical Systems Saudi Arabia
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“Hospitals & Clinics are anticipated to generate largest revenue shares of the Saudi Arabia nuclear imaging equipment market. Availability of the space, finances, technicians, and experts to perform the diagnostic tests along with the doctor that can provide immediate treatment to the patients are substantially driving the growth of the market. Installing of nuclear imaging equipment requires regular maintenance, and affordability of the heavy-duty equipment is also supported in the hospitals thus the higher demand. Patient burden is also higher on the hospitals thus the market is anticipated to further expand through the end users,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Nuclear Imaging Equipment Market By Type (PET Imaging Systems, Gamma Camera Imaging Systems), By Application (Oncology, Cardiology, Neurology, Others), By End User (Hospitals & Clinics, Diagnostic Imaging Centers, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Saudi Arabia nuclear imaging equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia nuclear imaging equipment market.
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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.The report Nuclear Imaging Equipment 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%.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=98Market Segmentation:-The global nuclear imaging equipment market is segmented on the basis of product, application, end user, and region.Based on product, the Positron Emission Tomography 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 PET Market.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.Based on end user, the Positron Emission Tomography Market is segmented into hospitals, imaging centers, academic & research centers, and other end users (pharmaceutical & biotechnology companies and CROs).
Global nuclear imaging equipment market is expected to grow at a CAGR of 4.8%, during 2017 - 2023.
According to the study, the global nuclear imaging equipment market is likely to grow significantly during the forecast period, due to rising prevalence of cancer and cardiovascular diseases, increasing geriatric population and increasing prevalence of neurological disorders.
High cost of imaging techniques is the key factor restraining the global market growth.
As per the findings of the research, based on products, the SPECT is the largest category, in the global nuclear imaging equipment market.
Oncology has been the largest application of the global market, followed by cardiology, neurology and others.
Hospitals has been the largest end user of nuclear imaging equipment, followed by diagnostic centers, research institutes and others.Download Report Sample at: https://www.psmarketresearch.com/market-analysis/nuclear-imaging-equipment-market/report-sampleGeographically, North America has been the largest market for nuclear imaging equipment, with the U.S. being the largest contributor to the regional market.
