Market Trends of Spain Nuclear Imaging Industry
This section covers the major market trends shaping the Spain Nuclear Imaging Market according to our research experts:
Equipment Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Some of the factors such as the growing use of the SPECT and PET scanners for diagnosis of several diseases, rising chronic disorders, and rising development of new advancements and technologies are boosting the segment growth. Thyroid cancer occurs at a somewhat high prevalence in Spain as well. The International Agency for Research on Cancer (IARC) estimates that 5,063 new cases of thyroid cancer will be diagnosed in Spain in 2020. Additionally, it predicted 336 fatalities from the illness. It is anticipated that the prevalence of thyroid cancer in Spain would increase the need for SPECT imaging for accurate and speedy identification of the condition. This should accelerate market expansion. Organization for Economic Co-operation and Development (OECD) stat 2022 states that in Spain, hospitals performed over 220,011 positron emission tomography (PET) scan exams in 2020 as opposed to 215,704 in 2019. The growing use of PET scans demonstrates how great the need is for technologically sophisticated equipment, which is fueling the market expansion for nuclear imaging equipment. Key market participants' initiatives are anticipated to accelerate market expansion. For instance, in July 2021, Quibim, a world leader in artificial intelligence (AI) and medical image processing, will take part in the EUR 7.5 million (USD 8.9 million) High Sensitivity Molecular Imaging project IMAS (Imagen Molecular de Alta Sensibilidad), which aims to develop an innovative total-body PET/CT scanner for concurrent whole-body imaging. This project is supported by GE Healthcare, a leader in the field of diagnostic imaging technology. Thus, the abovementioned factors are expected to increase the market growth.
