Nuclear Medicine Market to Grow at a CAGR of 9.32% During the Forecast Period
Increasing cases for chronic
cardiovascular diseases, cancer, among others is expected to drive the growth
of Global Nuclear Medicine Market through 2027.
According to TechSci Research report, “Nuclear Medicine Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027” The
global nuclear medicine market is expected to grow at a CAGR of 9.32% and reach USD8804.54
million in 2027 on account of growing
cases of cancers, cardiovascular diseases, and increasing
geriatric population. Besides, this increase
in the number of geriatric populations on a global level and their usage of nuclear medicines for the detection and
diagnosis of chronic diseases is fueling the market growth of the nuclear
medicine market. Increasing awareness of health management and maintaining a
healthy lifestyle is expected to drive market growth through 2027.
Also, government healthcare authorities are adopting various efforts to
promote awareness campaigns across the globe for the early diagnosis of a
disease like cancer, as its early detection helps in proper treatment with
increased efficacy. This is expected to foster market growth during the
forecast period. Various technological advancements and innovations in the
nuclear medicine sector to enhance the growth yield are also the reasons to
boost the global nuclear medicine market.
However,
strategies such as product launches and approvals, marketing and promotional
activities, acquisitions, increased R&D investment, strengthened
distribution networks, supply and demand chain, and product publicity needs to
be improved as these factors are expected to drive the growth of the market during
the forecast period.
Browse over 123 market
data Figures and 12 market data Tables spread through 242 Pages and an
in-depth TOC on "GLOBAL NUCLEAR MEDICINE MARKET"
The global nuclear medicine market is
segmented based on type,
diagnostic nuclear medicine, therapeutic
nuclear medicine, application, end user and region. Based on type, the global nuclear
medicine market can be split into diagnostic nuclear medicine, therapeutic nuclear
medicine. The diagnostic nuclear medicine segment is expected to dominate the
market over the next few years owing to growing awareness pertaining to early
disease diagnosis and treatment. Furthermore, rising rates of cardiac disease,
cancer, and neurological problems are projected to increase demand for more
accurate diagnosis. Nuclear medicine also uses radiation to provide better
diagnostic information about the functioning of a certain organ. Based on diagnostic
nuclear medicine, market can be further categorized into SPECT radiopharmaceuticals,
PET radiopharmaceuticals. The diagnostic nuclear medicine can be bifurcated
into SPECT radiopharmaceuticals and PET Radiopharmaceuticals. The SPECT
radiopharmaceuticals segment dominated the market in 2021 with an overall share
of around 56.05% on account of its easy availability, widespread use and low
cost as compared to the PET radiopharmaceuticals. SPECT is very similar to
conventional nuclear medicine planar imaging which uses a gamma camera. For
brain imaging, it can also provide 3-D information in the form of
cross-sectional slice images of the patient suffering from neural diseases.
Key market players in the global nuclear
medicine market include:
- Cardinal Health, Inc.
- Curium SAS
- GE Healthcare, Inc.
- Advanced Accelerator Applications SA (Novartis AG)
- Lantheus Medical Imaging, Inc.
- Bayer AG
- Bracco Imaging S.p.A
- Nordion (Canada) Inc.
- Isotopia Molecular Imaging Limited
- NorthStar Medical Radioisotopes, LLC
Global nuclear
medicine market includes a lot of well-established players having presence in
several countries along with several domestic players holding prominent
positions in certain regions and countries, among others.
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“The
Asia Pacific region will register the fastest CAGR during the forecast period. This
can be attributed to the extensive research & development activities,
ongoing clinical trials, increasing investments, and expansion of companies
along with their manufacturing sites and warehouses in the region, especially
in countries like China, South Korea, Australia and Singapore.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based Global
management consulting firm.
“Nuclear Medicine
Market- Global Industry Size, Share, Trends, Opportunity and Forecast,
2017-2027 Segmented By Type (Diagnostic Nuclear Medicine & Therapeutic
Nuclear Medicine), By Diagnostic Nuclear Medicine (SPECT & PET
Radiopharmaceuticals), By Therapeutic Nuclear Medicine (Beta Emitters, Alpha
Emitters & Brachytherapy Isotopes), By Application (Oncology, Cardiology
& Others), By End User (Hospitals & Clinics, Diagnostic Centers,
Academic & Research Institutions & Others), By Region”, has evaluated the future growth
potential of global nuclear medicine market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge 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 market.
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