The surging incidence of cancer is propelling the demand for nuclear imaging equipment across the world. As per the International Agency for Research on Cancer (IARC), which is a specialized cancer organization of the World Health Organization (WHO) that promotes research on cancer, nearly 12.7 million people were diagnosed with cancer in 2008. Furthermore, according to the estimates of the organization, this number will rise to 21.4 million by 2030.
Furthermore, the organization found that cancer claimed the lives of 8.2 million people around the world in 2012. Out of these deaths, lung cancer alone claimed the lives of as many as 1.6 million people, while liver cancer was responsible for the deaths of 745,000 people across the world. Moreover, 400,000 people lost their lives because of esophageal cancer in 2012. With the rise in the number of cancer patients, the demand for cancer screening methods and devices is skyrocketing.
This is fueling the demand for nuclear imaging equipment all over the world. Apart from the growing incidence of cancer, the surging population of geriatric people is also positively impacting the demand for nuclear imaging equipment across the world. According to a report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of geriatric people (people in the age bracket- 60 years or above) is soaring rapidly across the globe.
The share of geriatric people in the global population is predicted to rise from 11.7% in 2013 to 21.1% by the end of 2050. Due to these factors, the global nuclear imaging equipment market is exhibiting huge expansion. Nuclear imaging procedures are non-invasive and painless medical tests that help physicians diagnose the medical condition of patients. This method uses radioisotopes that are administered into the bloodstream of the patient or inhaled or swallowed by the patient.
This allows healthcare practitioners to get images of how organs and tissues function. Moreover, the radioisotopes generate radiations that are used for diagnosing cancer, evaluating organ disorder, and investigating blood circulation. Oncology, neurology, and cardiology are the major application areas of nuclear imaging equipment. Out of these, the requirement for these devices is currently the highest in oncology applications across the world, as per the observations of P&S Intelligence, a market research company based in India.
Geographically, the demand for nuclear imaging equipment is currently the highest in North America. This is because of the high incidence of cardiovascular diseases and cancer and the existence of technologically advanced and innovative products in this region. In this region, the sales of these devices are presently the highest in the U.S. Europe is also witnessing an explosive demand for nuclear imaging equipment. In the coming years, the sales of these devices are predicted to shoot up in Asia-Pacific.
Hence, it can be said with full confidence that the demand for nuclear imaging equipment will skyrocket all over the world in the future years, mainly because of the increasing incidence of cardiovascular diseases and cancer and the soaring geriatric population in several countries.
