Nuclear medicine is one of the fastest growing and most promising segments of the medical imaging industry. Nuclear medicine comprises of diagnostic and therapeutic procedures through the use of safe, painless, and cost-effective techniques. The technology provides functional as well as anatomical information, and is found highly beneficial in diagnosis of organ function abnormalities, cancerous growths, cardiac diseases, neurological disorders, blood flow blockages, and dysfunction of any major organ. The procedure faces immediate competition from alternate methods such as Magneto Cardiography (MCG) and Magneto Encephalography (MEG), although on the whole, the impact of these methods remains restricted in terms of widespread acceptance. Over the last few years, there has been a heightened level of R&D activity aimed at use of nuclear medicine in diagnosis and treatment of serious and incurable diseases. Some of these areas coveting medical attention include Parkinson's disease, central nervous system (CNS) disorders, autoimmune disease, Attention Deficit Hyperactivity Disorder (ADHD), among others. Gamma cameras and PET scanners are the most widely used imaging equipment in nuclear medicine, whereby the market is experiencing a marked shift to hybrid PET/CT imaging from PET-only imaging. This transition is driven by use of the technology in an expanded variety of clinical applications.
Advancements in imaging technologies that help diagnosis and treatment of diseases, as well as aging population is driving demand for nuclear medicine equipment. Proven efficacy of technology, reimbursement approvals and improved supply and distribution of radiopharmaceuticals, are expected to drive market growth. Greater use in applications such as cardiology and oncology would positively impact the market in the coming years. Technological developments in PET/CT scanner technology is also expected to generate greater revenues as they promise excellent market diffusion for cancer detection and therapy planning. Dedicated positron emission tomography equipment is expected to exhibit strong growth prospects compared to conventional imaging modalities. In addition, the growing number of new application areas such as neuroendocrine tumor imaging is expected to establish SPECT/CT as an important technological tool in the area of nuclear medicine in the near future.
The global market for nuclear medicine systems experienced steep decline in revenues in late 2008, as a result of the worldwide economic downturn. Decrease in demand from US, the most influential and mature nuclear medicine market worldwide, was one of the major reasons for the revenue decline. The medical imaging systems and equipments in the country were not used to their fullest capacities and did not yield the required revenue gains. Apart from these, factors such as saturated western markets, low reimbursement rates and government-imposed restrictions in certain countries like China played a major role in sustained slowdown and decrease in market growth for 2008-2009. Nevertheless, the world market is expected to stabilize as the economic downturn retreats in 2010, making way for replacement sales and growth in PET/CT procedure volumes. This would be mainly driven by PET/CT scanning benefits in oncology. Developments in technology and novel clinical applications meant for imaging modalities are expected to drive growth in the nuclear medicine market.
Advancements in imaging technologies that help diagnosis and treatment of diseases, as well as aging population is driving demand for nuclear medicine equipment. Proven efficacy of technology, reimbursement approvals and improved supply and distribution of radiopharmaceuticals, are expected to drive market growth. Greater use in applications such as cardiology and oncology would positively impact the market in the coming years. Technological developments in PET/CT scanner technology is also expected to generate greater revenues as they promise excellent market diffusion for cancer detection and therapy planning. Dedicated positron emission tomography equipment is expected to exhibit strong growth prospects compared to conventional imaging modalities. In addition, the growing number of new application areas such as neuroendocrine tumor imaging is expected to establish SPECT/CT as an important technological tool in the area of nuclear medicine in the near future.
The global market for nuclear medicine systems experienced steep decline in revenues in late 2008, as a result of the worldwide economic downturn. Decrease in demand from US, the most influential and mature nuclear medicine market worldwide, was one of the major reasons for the revenue decline. The medical imaging systems and equipments in the country were not used to their fullest capacities and did not yield the required revenue gains. Apart from these, factors such as saturated western markets, low reimbursement rates and government-imposed restrictions in certain countries like China played a major role in sustained slowdown and decrease in market growth for 2008-2009. Nevertheless, the world market is expected to stabilize as the economic downturn retreats in 2010, making way for replacement sales and growth in PET/CT procedure volumes. This would be mainly driven by PET/CT scanning benefits in oncology. Developments in technology and novel clinical applications meant for imaging modalities are expected to drive growth in the nuclear medicine market.
Source:San Francisco Chronicle
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