Nuclear Medicine Therapeutics Market to grow with a CAGR of 9.60% through 2030F
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Nuclear Medicine Therapeutics Market.
According
to TechSci Research report, “Nuclear Medicine Therapeutics
Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast,
2020-2030F”, Global Nuclear Medicine Therapeutics Market was valued
at USD 985.80 million in 2024 and is anticipated to witness an impressive
growth in the forecast period with a CAGR of 9.60% through 2030. This can be
due to collaborations and partnerships among leading companies with a diverse
approach to merge the expertise of individual companies and to strengthen their
position in the market.
Advancements
in radiotherapy play a significant role in driving the demand for the Global
Nuclear Medicine Therapeutics Market. While nuclear medicine therapeutics and
radiotherapy are distinct modalities, they share common goals in cancer
treatment and often complement each other. In some cases, nuclear medicine
therapeutics are used in combination with external beam radiation therapy
(EBRT) or other forms of radiotherapy to enhance treatment outcomes. This
combination approach is referred to as "theranostics" and involves
using diagnostic nuclear medicine scans to guide targeted therapeutic
interventions. Some nuclear medicine agents, when combined with radiotherapy,
can act as radiosensitizers. They enhance the sensitivity of cancer cells to
radiation, making the radiotherapy more effective at killing tumor cells while
minimizing damage to surrounding tissues. Advancements in radiation therapy
delivery systems, such as linear accelerators (linacs) and image-guided
radiation therapy (IGRT) machines, enable more precise and targeted radiation
delivery. This aligns with the goals of nuclear medicine therapeutics, which
aim to deliver radiation to specific disease sites.
The
COVID-19 pandemic influenced the market for nuclear medicine therapies,
initially diverting research attention to the creation of COVID-19
vaccinations. The number of nuclear investigations, nuclear cardiac imaging,
and cancer positron emission tomography declined in the first few months of the
pandemic, according to the Centers for Disease Control and Prevention (CDC). By
February 2021, however, there were fewer COVID-19 cases in the United States,
and procedures steadily increased.
The short half-life of
radioisotopes is a challenge in the Global Nuclear Medicine Therapeutics
Market. Radioisotopes are essential components of nuclear medicine, used for
both diagnostic imaging and therapeutic applications. Radioisotopes have a
finite half-life, which means they decay over time, becoming less radioactive.
This limited window of usability can be a challenge in nuclear medicine, as
radiopharmaceuticals must be administered promptly after production to ensure
adequate radioactivity for diagnosis or treatment. The production and
distribution of radiopharmaceuticals with short half-lives require efficient
processes and logistics to ensure timely delivery to healthcare facilities.
Delays in production or transportation can lead to shortages and affect patient
care. Short-lived radioisotopes generate radioactive waste, which must be
handled, stored, and disposed of in accordance with strict regulations. Proper
waste management can be complex and costly.
Browse over XX market data Figures and spread through XX Pages and
an in-depth TOC on " Global Nuclear Medicine
Therapeutics Market”
Global
Nuclear Medicine Therapeutics Market segmentation is based on Type,
Application, and Region.
Based
on application, oncology is the fastest-growing segment in the global nuclear
medicine therapeutics market, driven by the rising prevalence of cancer and
increasing demand for targeted radiopharmaceutical therapies. Innovations in
radioligand therapy (RLT), particularly for prostate and neuroendocrine tumors,
are fueling growth. Alpha and beta emitter-based therapies, such as
Lutetium-177 and Actinium-225, offer high precision in destroying cancer cells
while minimizing side effects. Expanding clinical trials, regulatory approvals,
and investments in radiopharmaceutical R&D are accelerating adoption. As
personalized medicine and theragnostic gain traction, oncology applications
continue to dominate, making it the most rapidly expanding area in nuclear
medicine therapeutics.
Based
on region, Asia-pacific region to fastest growth in the Global
Nuclear Medicine Therapeutics Market. The APAC region has a rapidly aging
population, which is more susceptible to chronic diseases like cancer and
cardiovascular conditions. As mentioned earlier, the aging population drives
the demand for nuclear medicine therapeutics, including both diagnostics and
treatments. The prevalence of cancer, cardiovascular diseases, and other
chronic conditions is on the rise in the APAC region. This high disease burden
necessitates advanced diagnostic and therapeutic options like nuclear medicine
to improve patient outcomes. Many countries in the APAC region are investing in
healthcare infrastructure development, including the establishment of modern
healthcare facilities, cancer centers, and nuclear medicine departments.
Improved infrastructure facilitates the growth of nuclear medicine services. As
economies in the APAC region continue to grow, healthcare spending is
increasing. Patients and healthcare providers have greater access to advanced
medical technologies, including nuclear medicine.
Some of the major companies operating in the Global Nuclear
Medicine Therapeutics Market include:
·
Actinium Pharmaceutical Inc.
·
Alpha Tau Medical Ltd
·
Bayer AG
·
Fusion Pharmaceuticals Inc.
·
IBA Radiopharma Solutions
·
RadioMedix Inc.
·
Telix Pharmaceuticals Ltd
·
NTP Radioisotopes Pty Ltd.
·
Bracco SpA
·
Cardinal Health Inc.
·
Nordion Inc. (Sotera Health
Company)
·
Triad Isotopes Inc. (Jubilant Life Sciences)
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“North
America is expected to drive significant demand for nuclear medicine, fueled by
a competitive market landscape and the presence of well-established companies
dedicated to advancing healthcare. Increasing investments, technological
advancements, and a strong focus on patient well-being are anticipated to
significantly boost the global nuclear medicine therapeutics market during the
forecast period" said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based Global management consulting firm.
"Nuclear Medicine Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Alpha Emitters, Beta Emitters, and Brachytherapy), By Application (Oncology, Cardiology, Thyroid, and Other Applications), By Region and Competition 2020-2030F", evaluated the future
growth potential of Global Nuclear Medicine Therapeutics Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide innovative market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Nuclear Medicine Therapeutics Market.
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