Surging Geriatric Population Fueling Expansion of Global Nuclear Imaging Equipment Market
The global nuclear imaging equipment market is predicted to demonstrate rapid advancement in the coming years. Nuclear imaging procedures are painless and non-invasive medical tests that help healthcare practitioners diagnose the medical conditions of patients. Nuclear imaging involves the use of radioisotopes that are directly administered into the bloodstream, inhaled, or swallowed for providing images of how the organs and tissues function. Radioisotopes emit radiations that are used for diagnosing cancer and evaluating organ disorders.
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The rising incidence of cancer and the surging population of geriatric people are the major factors propelling the advancement of the nuclear imaging equipment market across the globe. As per the International Agency for Research on Cancer (IARC), which is a specialized cancer agency of the World Health Organization (WHO), nearly 12.7 million new patients were diagnosed with cancer all over the world in 2008 and this number will rise to 21.4 million by 2030.
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Apart from the aforementioned factor, the soaring geriatric population in several countries is also fueling the growth of the nuclear imaging equipment market around the world. According to a report published on the global aging population by the United Nations Department of Economic and Social Affairs (UNDESA), the total population of people in the age bracket-60 years or above is rising rapidly. It was only 11.7% of the global population in 2013.
Out of these, the hospitals category registered the highest growth in the market during the last few years. Across the globe, the nuclear imaging equipment market registered the highest growth in North America in the years gone by. This was because of the high incidence of cardiovascular diseases and cancer and the existence of technologically advanced and innovative products in the region. In this region, the market recorded the largest expansion in the U.S. in the past.