The Future of the European Nuclear Imaging Equipment Market is Promising

Bharatbook.com added a new report on "Europe Nuclear Imaging Equipment: Market Analysis and Opportunity Assessment" gives valuable insight on the pipeline products within the Europe nuclear imaging equipment market.

Online PR News – 21-January-2010 – – Europe Nuclear Imaging Equipment: Market Analysis and Opportunity Assessment

This report is an essential source of data and analysis on the Europe nuclear imaging equipment market with complete coverage by categories. The report provides market landscape, competitive landscape and market trends information on two market categories – gamma camera, single photon emission computed tomography, and positron emission tomography. The report identifies the key trends shaping and driving the dynamism in the Europe nuclear imaging equipment market. The report also provides insight on the prevalent competitive landscape and on the emerging players which are expected to bring significant shift in the market standing of the existing leaders. The report also provides valuable insight on the pipeline products within the Europe nuclear imaging equipment market. ( http://www.bharatbook.com/detail.asp?id=129851&rt=Europe-Nuclear-Imaging-Equipment-Market-Analysis-and-Opportunity-Assessment.html )

The Future of the European Nuclear Imaging Equipment Market is Promising
The European nuclear imaging equipment market, valued at $498.9m in 2008, is forecast to grow by 16% annually for the next seven years to reach $1.4 billion by 2015. In Europe, Germany and Italy contributed 33% and 25% respectively to the total nuclear imaging equipment market.The growth in the nuclear imaging equipment market will primarily be driven by increasing utilization of single photon emission computed tomography/computed tomography (SPECT/CT) and positron emission tomography/computed tomography (PET/CT), the increase in the number of cancer patients across Europe, technological advances and improvements in the quality of care.

Growing Usage of Hybrid Systems for Enhanced Image Quality and Improvement in the Diagnosis and Treatment of Diseases
Hospitals and radiology clinics are increasingly using combined modalities such as PET/CT and SPECT/CT rather than the conventional standalone systems because these hybrid systems have enhanced the standard of image quality leading to subsequent improvements in the diagnosis and treatment of diseases. . Hospitals now focus their new equipment purchases on PET/CT and SPECT/CT. In Europe, 60% of the demand for these units is expected from first time buyers with the remaining 40% coming from replacement of existing PET systems with PET/CT. The PET/CT and SPECT/CT markets in terms of value and volume have surpassed the PET and SPECT markets and this trend is expected to continue in the future.

The “Big Three” Comprising of GE, Siemens and Philips Continue to Dominate the European Nuclear Imaging Equipment Market
The European nuclear imaging equipment market is quite oligopolistic in nature with the ”Big Three” comprising of GE Healthcare, Siemens Healthcare and Philips Healthcare dominating the market. These three companies had a combined share of 92% in 2008. GE led the market with a 36% share, followed by Siemens and Philips with a 28% share each.

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