January 25, 2010 -- A new study from U.K. market research firm GlobalData predicts the nuclear imaging equipment market in Europe could reach $1.4 billion by 2015.
With a projected growth rate of 16%, the forecast would triple the study's estimated market value of $489.9 million in 2008.
SPECT/CT and PET/CT are expected to propel the growth with increased utilization and enhanced technology, GobalData said. Approximately 60% of demand will come from healthcare facilities making their first purchases of nuclear medicine systems.
The study also showed that GE Healthcare of Chalfont St. Giles, U.K.; Philips Healthcare of Andover, MA; and Siemens Healthcare of Erlangen, German, hold the largest market shares in nuclear medicine in Europe.
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