The global
nuclear medicine market has gained sustainable growth owing to increasing
number of new cancer and cardiovascular cases, since nuclear medicines are used
as a diagnostic tool for these diseases. Continuing research and studies
demonstrating positive results is widening the scope of radioisotope
applications for the diagnosis and treatment of bone diseases, respiratory
diseases, thyroid-related diseases, and conditions of the digestive tract.
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The market is further boosted by development in the
production of radiotracers and potential radioisotopes in the pipeline.
However, the global nuclear medicine market is hampered by short half-lives of
radiopharmaceuticals, severe regulatory guidelines, and unavailability of
reimbursement policies. Various side effects caused by radiation exposure are
also creating an aversion among patients for radiopharmaceuticals. Some of the
most prevalent side effects include fatigue, skin irritation, nausea, vomiting,
and infertility among males.
Nuclear medicine or Radiopharmaceuticals is a division
of medical imaging, which uses small quantities of radioactive material to
analyse and determine severity of diseases, including cancers types, heart
disease, gastrointestinal, endocrine, neurological disorders and other
abnormalities within the body. As nuclear medicine procedures can identify molecular
activity inside the body, they offer potential to identify disease at initial
stages, as well as a patient’s instant response to therapeutic interventions.
Nuclear medicine imaging
procedures are non-invasive and, except for intravenous
injections, are generally painless medical tests that help doctors to diagnose
and assess medical conditions. These imaging scans use radioactive materials
called as radiopharmaceuticals or radiotracers.
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The
Report Analysis The Nuclear Medicine Market Based On Type:
The report analysis the nuclear medicine market based
on type, procedure, application and geography. Based on type, the global
nuclear medicines market is segmented into diagnostic nuclear medicine and
therapeutic nuclear medicine. The diagnostic nuclear medicine is further
segmented into SPECT radiopharmaceuticals (including TC-99, TL-201, GA-67,
I-123 and others) and PET radiopharmaceuticals (including F-18, RB-82, and
others). Moreover, the therapeutic nuclear medicine is sub-segmented into beta
emitters (including I-131, Sm-153, Rh-186, Y-90, Lu-177 and Others), Alpha
Emitters (RA-223) and brachytherapy (including Cesium-131, Iodine-125,
Palladium-103, Iridium-192 and others). Among all types, the diagnostic segment
accounted for the largest share of the nuclear medicine market. Based on
procedure, this market is segmented into diagnostic procedures (SPECT
radiopharmaceuticals and PET Radiopharmaceuticals) and therapeutic procedures
(beta emitters, alpha emitters and brachytherapy). Based on application, the
nuclear medicine market is divided into diagnostic applications and therapeutic
applications. Some major conditions covered in the therapeutic applications are
thyroid, bone metastasis, lymphoma, endocrine tumors and others.
The
Nuclear Medicine Market By Geography:
By geography, nuclear medicines market is studied
across the countries of key regions such as, North America, Europe, Asia
Pacific and rest of the world regions which includes Latin America, and Middle
East & Africa. North America comprises United States, Canada and Mexico
whereas Europe would primarily cover Germany, France, UK, Italy and Rest of
Europe.
The key countries included under Asia Pacific are
China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America,
Brazil, Argentina, and Rest of Latin America are the key countries whereas in
Middle East & Africa, South Africa and Rest of MEA are the key countries
covered in the report.
North America is
estimated to account for the largest share, followed by Asia-Pacific and
Europe. Factors such as growing awareness regarding therapeutic potency of
nuclear medicines and research contributions are fuelling the growth in North
America.
The Asia-Pacific region is expected to grow at the
highest CAGR during the forecast period. This high growth can be attributed to
the installation of PET scanners in India and initiatives by the government of
the Asian nations to promote health among others. Furthermore, China is
projected to grow at a lucrative growth rate over the estimate period.
The
Nuclear Medicine Market Players:
Some of the market players in the nuclear medicines
include Bayer AG, Cardinal Health, Mallinckrodt PLC, GE Healthcare, Lantheus
Medical Imaging, Inc., Bracco Imaging S.P.A, Eczacibasi-Monrol Nuclear Products,
Nordion, Inc., Siemens Healthcare, Advanced Accelerator Applications S.A.,
Jubilant Pharma and among others.
New product launches and endorsements are the key
growth strategies adopted by major players to reinforce their positions in the
international market. Furthermore, strategies such as expansions, as well as
partnerships and agreements were also implemented by numerous market players to
expand their R&D competences and geographic presence in the global market.
Why
to Buy:
•The report offers changing market dynamics in the nuclear
medicine Market, presenting historical, current and projected market size in
terms of value (USD million).
•It presents a comprehensive assessment of geographical
regions exhibiting promising growth, potential and niche segments, and a
neutral perspective on the nuclear medicine Market performance.
•The report also offers strategic recommendations in
key business segments based on the market estimations and competitive
landscape, mapping the key common trends of nuclear medicine Market.
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