The Nuclear Imaging Market size in the Middle East & Africa was worth USD 0.91 billion in 2022 and is estimated to be growing at a CAGR of 7.83%, to reach USD 1.32 billion by 2027.
One of the key factors driving the market expansion is the rising frequency of cancer and heart disorders in the MEA region. Nuclear medicine holds a lot of promise in terms of cancer and heart disease treatment. The cancer burden is rising due to variables such as population aging, poor food, smoking, and physical inactivity. According to the World Health Organization, cancer incidence in the Middle East is rising, with many cases anticipated to quadruple by 2030. Minimally invasive procedures have aided the trend toward precise surgical treatment. Medical imaging-guided therapy is a new field that has applications in minimally invasive surgery, interventional radiology, and computer-aided visualization. The demand for imaging guidance has expanded due to these novel surgical procedures, as have the most advanced imaging methods. The shift from standalone to hybrid modalities, advances in radiotracers, the growing focus on personalized medicine, investments in diagnostic imaging centers through public-private partnerships, and the rising incidence and prevalence of cancer and cardiac ailments are all driving this market forward. The PET and SPECT market is being driven by rising knowledge of the benefits of nuclear imaging among physicians and clinical researchers and expanding application areas such as oncology and neurological diseases.
Nuclear medicine imaging is critical in diagnosing and managing patients with coronary artery disease (CAD), atherosclerosis, and other cardiovascular disorders in cardiology. Nuclear medicine is a key growth element for market analysis since it plays an important part in diagnosing and managing patients with various disorders. Image processing and reconstruction, computer-assisted medical condition recognition, 3D image production, and the employment of appropriate quality control systems are all possible with data integrated imaging systems. Physicians may compare scans with the use of data integration to monitor illness progression properly.
The primary restrictions for the MEA nuclear imaging market include rising research and development costs and highly advanced hybrid nuclear imaging equipment. Furthermore, the market's growth is further estimated to be hampered by the short half-life of radiopharmaceuticals, supply instability, logistical challenges, and rigorous regulatory rules, as well as competition from traditional alternative diagnostic techniques. In addition, increased costs of nuclear imaging equipment and a shortage of Tc-99m are among the primary reasons hindering market expansion and posing further challenges to the nuclear imaging devices market in the forecast period.
This research report on the Middle East and Africa Nuclear Imaging Market has been segmented & sub-segmented into the following categories:
In terms of market share, South Africa leads the market in this region. Other significant markets in this region include UAE, Israel, and Nigeria. The massive rise in spending in the healthcare division in this region has increased Nuclear Imaging devices' demand, thereby providing lucrative growth prospects for the Nuclear Imaging device manufacturers. Due to technical improvements in the healthcare business and rising healthcare expenditure, the UAE dominates the Middle East and Africa market. The rapid rise in this region can be due to increasing chronic disease incidence, increased awareness of the benefits of early disease detection, and improved healthcare systems in the region. In the forecasted period, rising technical improvements, increased demand for qualified professionals, increased demand for data integrated imaging systems, and increased demand in the region will provide new opportunities for the nuclear imaging equipment market.
KEY MARKET PLAYERS:
Companies playing a vital role in the Middle East & Africa Nuclear Imaging market in this report are Mallinckrodt plc, Siemens Medical Solutions, Hitachi Medical Corporation, Medtronic Inc., General Electric Co. (healthcare division), IBA Group, Positron Corporation, Philips Medical Systems, Naviscan, Toshiba Medical Systems Corporation, Carestream Health, Lantheus Medical Imaging Inc., Cardinal Health Inc., and Bayer AG.
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