Japan Therapeutic Nuclear Medicines Market was valued at USD 1.20 Billion in 2022 and is projected to reach USD 1.89 Billion by 2030, growing at a CAGR of 6.20% from 2024 to 2030.
Japan's therapeutic nuclear medicines market is experiencing significant growth, propelled by advancements in medical technology and a rising demand for effective cancer treatments. In 2023, the market was valued at approximately USD 550.3 million, with projections suggesting it could reach USD 2.54 billion by 2031, reflecting a compound annual growth rate (CAGR) of 21.2% during the forecast period from 2024 to 2031. citeturn0search0
This surge is primarily driven by an aging population and an increased prevalence of cancer and cardiovascular diseases. Japan boasts one of the highest life expectancies globally, leading to a higher incidence of age-related health conditions. Notably, cancer continues to be the leading cause of death, followed closely by cardiovascular diseases. In 2022, there were over one million new cancer cases reported, underscoring the urgent need for advanced diagnostic and therapeutic solutions. citeturn0search0
Therapeutic nuclear medicines, including targeted radionuclide therapy (TRT), are gaining prominence as effective treatments for various cancers. However, the introduction of new TRT options has faced challenges in Japan, such as stringent regulations, limited treatment facilities, and insufficient reimbursement policies. To address these issues, collaborative efforts have been initiated, including the establishment of the National Conference for Nuclear Medicine Theranostics and the Japan Foundation of Medical Isotope Development (JAFMID), aiming to promote the development and accessibility of TRT. citeturn0search4
The market is also witnessing technological innovations, with advancements in imaging techniques like positron emission tomography (PET) and single-photon emission computed tomography (SPECT). These technologies enhance the accuracy and efficiency of nuclear imaging, facilitating early disease detection and personalized treatment planning. Between 2020 and 2023, installations of new-generation PET/CT scanners increased by 32%, reflecting the growing adoption of these advanced imaging systems. citeturn0search2
However, the high costs associated with nuclear medicine procedures, including imaging and therapy, remain a significant barrier. Advanced imaging equipment and radiopharmaceuticals entail substantial financial investments, limiting accessibility for some healthcare facilities and patients. For instance, the average price of diagnostic imaging equipment is reported to be around USD 58,657, posing affordability challenges. citeturn0search0
To overcome these challenges and meet the growing demand, the industry is focusing on enhancing manufacturing practices. Good Manufacturing Practice (GMP) standards are being implemented to ensure the quality and safety of radiopharmaceuticals. In Japan, the Japanese Society of Nuclear Medicine (JSNM) has established guidelines and qualifications for in-house production of PET drugs, aiming to standardize production processes and improve the quality of nuclear medicines. citeturn0search3
In summary, Japan's therapeutic nuclear medicines market is poised for substantial growth, driven by technological advancements and a pressing need for effective cancer therapies. Addressing challenges related to costs, regulatory frameworks, and infrastructure will be crucial for stakeholders aiming to capitalize on the expanding opportunities within this dynamic sector.
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Cardinal Health Inc.
Mallinckrodt plc.
GE Healthcare
Lantheus Medical Imaging Inc.
Bayer AG
Bracco Imaging S.p.A
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Therapeutic Nuclear Medicines Market
Alpha Emitters
Beta Emitters
Gamma Emitters
Auger Electron Emitters
Cancer Treatment
Cardiovascular Disease Management
Neurological Disorders
Endocrine Disorders
Palliative Care
Intravenous Administration
Oral Administration
Intrathecal Administration
Local Administration
Radioisotopes
Radiopharmaceuticals
Radiolabeled Antibodies
Therapeutic Devices
Hospitals and Clinics
Diagnostic Centers
Research Laboratories
Pharmaceutical Companies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan Therapeutic Nuclear Medicines Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Therapeutic Nuclear Medicines Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Therapeutic Nuclear Medicines Market, By Type
6. Japan Therapeutic Nuclear Medicines Market, By Application
7. Japan Therapeutic Nuclear Medicines Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Therapeutic Nuclear Medicines Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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