A new report from market research firm GlobalData predicts the global nuclear imaging equipment market could reach $2.9 billion (nearly 2.2 billion euros) by 2017.
The global nuclear equipment market was estimated to be worth $1.8 billion (1.34 billion euros) in 2010. GlobalData predicts that it will have a projected compound annual growth rate of 7%.
The nuclear imaging market is driven by the increasing use of nuclear imaging systems to diagnose oncological and neurological disorders in their early stages. The company believes that the approval of PET examination reimbursement by the U.S. Centers for Medicare and Medicaid Services for the diagnosis of Alzheimer's disease is expected to enhance the market for PET modalities in the U.S.
The U.S. currently accounts for 47% of the global market. Valued at $834 million (621.775 million euros) in 2010, the U.S. market is forecast to grow by 5% annually from 2010 through 2017. Japan accounts for 13% of nuclear imaging modality utilization.
The study also showed that GE Healthcare, Philips Healthcare, and Siemens Healthcare held 85% of the global market in 2010.
