Global Nuclear Medicine Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2025". Growing demand for advanced and accurate diagnostic techniques and effective treatment are fueling the market growth. Additionally, increasing incidences of cancer and cardiac ailments likely to enhance the growth of Global Nuclear Medicine Market.
Nuclear Medicine Market is valued at USD 8.12 Million in 2018 and expected to reach USD 15.8 Million by 2025 with CAGR of 10.1% over the forecast period.
Nuclear medicine is a branch of medical imaging which uses very small amount of radioactive material (Radiopharmaceuticals) to diagnose and treat variety of disease such as various forms of cancers, heart disease, gastrointestinal, endocrine, neurological disorders, and other abnormalities within the body. In Nuclear Medicine imaging the radioisotopes are identified by the special type of cameras connected to the computer which offers actual image of the body part which was examined. Nuclear Medicines are radioactive materials that are injected into bloodstream or are swallowed in small amount through which they can help in early detection of diseases. By using radioactive material with pharmaceutical compounds used to detect a definite organ for imaging purposes, to check the development of disease in the body, concentrating on cellular function and physiology of the body. Nuclear medicine includes treatment of diseased tissues. Therapeutic nuclear medicines or used to treat an overactive thyroid gland – a condition known as hyperthyroidism or thyrotoxicosis.
Nuclear Medicine helps to find medical information that is not easily available or requires surgical procedure or costly and invasive diagnostic tests. It helps in detection of symptoms at a very early stage of a disease.
Global Nuclear Medicine Market has been segmented on the basis of Type, Procedural Volumes, Application, End User and Geography. On the basis of Type of Global Nuclear Medicine Market is classified into Diagnostic Nuclear Medicine, Therapeutic Nuclear Medicine, Research Nuclear Medicine and Other. On the basis of Procedural Volumes of Global Nuclear Medicine Market is classified into Diagnostic Procedures, Therapeutic Procedures and Other. On the basis of Application Global Nuclear Medicine Market is classified into Oncology, Cardiology, Neurology, Thyroid, Lymphoma, Endocrinology and others. On the basis of End User Global Nuclear Medicine Market is classified into diagnostic centers, hospitals, research centers and others. The regions covered in Global Nuclear Medicine Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global Melanoma Drug Market sub divided in to U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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Key Players for Global Nuclear Medicine Market Reports –
Global Nuclear Medicine Market reports cover prominent players like Cardinal Health Inc., Mallinckrodt plc, GE Healthcare, Lantheus Medical Imaging, Inc., Bayer AG, Bracco Imaging S.p.A, Eczacibasi-Monrol Nuclear Products, Advanced Accelerator Applications S.A., IBA Molecular Imaging, Mallinckrodt plc, Cardinal Health Inc., Curium, Lantheus Medical Imgaging, Triad Isotopes, Siemens Healthineer, Bracco, Cambridge Isotope Laboratories Inc., Nordion Inc., Fujifilm Holdings Corporation, Philips Healthcare, Digirad, Ashby Gorman Baker Ltd, Lantheus Medical Imaging Inc., Jubilant Life Sciences and NTP Radioisotopes SOC Ltd.
Global Nuclear Medicine Market Dynamics –
Growth of the overall Global Nuclear Medicine Market can be attributed to factors such as the increasing incidences of cancer and cardiovascular disorders, development of alpha radiotherapy and funds through public-private partnerships. Growing occurrence of cardiac patients and acceptance of clear imaging method, with the help of diagnostic equipment such as PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography). Moreover, the manufacture of MO-99 in the U.S. approval of Nuclear Medicine by the FDA, new irradiation capacity in Germany, system of PET scanners in India, funds by the government in the Rest of Asia-Pacific and initiatives of IAEA (International Atomic Energy Agency) is enhancing the Global Nuclear Medicine Market. The factors that restrain the growth of the Global Nuclear Medicine Market include High cost of medicines such as more than $100 million, supply shortages, logistical difficulties and limited number of trained medical personnel. Also, stringent government regulation for drug approval are key reasons hindering growth of the Global Nuclear Medicine Market. Furthermore, reimbursement obstacles for the manufacturer and high money investment are also restraining the Global Nuclear Medicine Market growth. Moreover, advancements in scanning technology are increasing the effectiveness of diagnosis using radioisotopes and as a consequence application areas of current radioisotopes are quickly growing. Extensive uses of the existing products united with introduction of newer radioisotopes for the diagnosis of respiratory, bones and thyroid related diseases are increasing the growth of nuclear medicines in the Global Nuclear Medicine Market.
High accurateness, capacity to integrate with other diagnostic techniques such as x-ray and growing awareness of this technique in the developing market are the main factors likely to fuel the market growth of the diagnostic nuclear medicines during the forecast period.
Global Nuclear Medicine Market Regional Analysis –
From a geographical standpoint, North America is the dominant market in 2017 and occupied around 40% of the overall market revenue. In North America the United States is the major consumer market for Nuclear Medicine and Canada is the largest producer of Tc-99m. It is due to the widespread awareness of the use of radioisotopes and radiation in medicine for various medical conditions. In the developed countries, the frequency of diagnostic and therapeutic nuclear medicine is rising exponentially. Asia Pacific is projected to outshine all other regions in the upcoming years, mainly driven by Japan, China, Australia, and India nations where the fastest growth in the region are rising healthcare spending and increasing awareness of Nuclear Medicine among healthcare providers. The huge population, increasing occurrences of neurological and cardiovascular diseases as well as various types of cancer is also contributory to the growth of Global Nuclear Medicine Market in Asia Pacific.
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Key Benefits for Global Nuclear Medicine Market Reports -
Global Nuclear Medicine Market Segmentation –
By Type Analysis
Diagnostic Nuclear Medicine, Therapeutic Nuclear Medicine, Research Nuclear Medicine, Other
By Procedural Volumes Analysis
Diagnostic Procedures, Therapeutic Procedures, Other
By Application Analysis
Oncology, Cardiology, Neurology, Thyroid, Lymphoma, Endocrinology, Other
By End User Analysis
Diagnostic Centres, Hospitals, Research Centres, Other
North America (US., Canada), Europe (UK., France, Germany, Italy), Asia Pacific (China, Japan, India, Southeast Asia), Latin America (Brazil, Mexico), Middle East and Africa (GCC, Africa, Rest of Middle East and Africa)
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