Australia Nuclear Imaging Market Trends

The Australian market for nuclear imaging equipment is growing owing to the rising prevalence of diseases requiring these scans and the growing technological advancements are the key drivers for the market studied. According to the estimates of the Global Cancer Observatory, in 2020, there were an estimated 200,021 new cancer cases diagnosed and 48,236 cancer deaths in Australia. Furthermore, according to World Nuclear Association 2020, Australia performs about 560,000 nuclear medicine operations annually, with an estimated 90% of those procedures being diagnostic in nature. The growing frequency of these treatments raises the need for scanners, fostering the expansion of the equipment segment in the nation. The country's increasing use of PET scanners for illness imaging and diagnostics has boosted the development of the industry under study. According to the Organisation for Economic Co-operation and Development (OECD) figures, Australia did an estimated 3,714,716 clinical PET scans in 2020 as opposed to 3,573,711 scans in 2019. The deployment of AUD 15 million TB-PET scanners in March 2021 is anticipated to revolutionize Australia's biomedical imaging capabilities, enhance patient outcomes, and strengthen research initiatives in the medical and health sciences. Increasing in the product innovation and technological advancement in the country by key market player expected to boost the nuclear imaging market. Moreover, in April 2021, Koninklijke Philips N.V. installed its most advanced digital diagnostic and interventional neurovascular imaging solutions at Westmead Hospital. Thus, the market is expected to increase in the future.