Market Overview
Nuclear Medicine is a branch of medicine which uses radioactive substances in small amounts for diagnosis and treatment of various diseases. Nuclear medicine can be used for the treatment of various conditions including blood disorder, and some cancers and use vastly different imaging technologies than those used in traditional imaging as they show physiological function of the particular system making it a more targeted method of imaging. Market Research Future's report on the global nuclear medicine supplies market divulges a number of vital figures and facts about the market. Nuclear Medicine Market is projected to grow at a CAGR of 13% over the review period. With the rapid expansion of advanced medical technologies, the market is expected to grow at a consistent upward trend to approximate market value of USD 13 Bn by the end of 2027.
Nuclear medicine market offers precise diagnostic abilities and is useful in the early detection of cancer as well as other diseases such as cardiovascular disorders. The increasing prevalence of cancer and other chronic diseases and a high demand for early diagnosis of such diseases for effective treatment is a significant driver of the global market. Moreover, increasingly radiopharmaceuticals are being used for the diagnosis or treatment of chronic diseases in geriatric patients. The rapid expansion of this demographic is expected to encourage the growth of the market. The WHO has recorded astounding figures regarding the prevalence of cancer at nearly one out of every six deaths, making it one of the most significant causes for patient mortality, thus increasing the demand for nuclear medicine.
Regional Analysis
The Americas due to the presence of North America has established itself as a market leader. The presence of several important market players combined with the high prevalence of cancer and other chronic diseases has influenced the growth of the Americas nuclear market. The region, particularly countries such as U.S & Canada have well-developed healthcare sectors which receive high investments. Moreover, the region has a high geriatric patient population which is expanding rapidly and is growing increasingly aware regarding advanced therapies.
Segmentation
MRFR has conducted a detailed study of the various parts of the nuclear medicine market which has been segmented on the basis of product type, application, end-user, and region. By product types, the nuclear medicine market has been segmented into diagnostic nuclear medicine and therapeutic radiopharmaceuticals. At present, the diagnostic nuclear medicine segment has attained a leadership position. However, the therapeutic radiopharmaceuticals segment is the fastest growing segment during the forecast period. The diagnostic nuclear medicine segment is segmented further into SPECT radiopharmaceuticals, and PET radiopharmaceuticals. Meanwhile, the therapeutic radiopharmaceuticals segment is sub-segmented into alpha emitters, beta emitters, and brachytherapy isotopes.
Applications of nuclear medicine are segmented into diagnostic applications and therapeutic applications. Diagnostic applications is a major segment which is sub-segmented into SPECT applications and PET applications. Meanwhile, the therapeutic applications segment is growing at the fastest pace.
End-users have been segmented into hospitals & diagnostic centers, research institutes, and others. Research institutes display the highest potential for growth over the forecast period, while hospitals & diagnostics centers have been identified as the most significant segment in terms of market share.
All sub-segments have been segmented further and included in the report.
Nuclear Medicine Market Players
· Jubilant Lifesciences,
· Lantheus Medical Imaging,
· Mallinckrodt Pharmaceuticals,
· Medtronic plc,
· Bayer AG,
· Advanced Accelerators Applications,
· Nordion Inc.,
· Cardinal Health,
· Bracco Imaging,
· Curium,
· GE Healthcare.
among others are some key companies in the global Nuclear Medicine that are listed by MRFR for market research.
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