The nuclear medicine market is expected to reach USD 6023 million by 2027 from an estimated USD 4321 million in 2020, growing at a CAGR of 4.9 % during the forecast period. The increasing prevalence of Cancer, failure of Cardiac, Alzheimer’s, and Parkinson’s are some of the important factors propelling the growth of the global market for nuclear medicine and radiopharmaceuticals market in near future. Rising demand from the growing economies is expected to influence the demand of this market during the course of the forecast period.
Furthermore, increasing demand for proper healthcare infrastructure, the non-invasive nature of the process and increasing investment on healthcare in this growing country is likely to upsurge the demand of this market, positively. The nuclear medicine an radiopharmaceuticals market is further driven by spreading awareness at global level, major progress in development of the radiotracers and the new pipeline of radioisotopes. On the other hand, very short-term life of the radiopharmaceuticals, unavailability of the reimbursement policy and strict policy and rule are some of the factors hampering the growth of the market at global level. The radiation exposure side effects are also one of the important factors driving the demand negatively. The major side effects of the radiation are infertility among men, skin irritation, vomiting, fatigue and nausea.
The global market for nuclear medicine and radiopharmaceuticals can be classified on the basis of the product types and applications. Among all segment, cardiology of the application segments dominates the market in terms of largest market share. Whereas, SPECT of the product types segments expected to account for major share of the market in nuclear medicine and radiopharmaceuticals market in coming years.
Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).
The global market for nuclear medicine has been segmented on the basis of region into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America dominated the overall market in terms of revenue in 2020 due to high investments in R&D and support of government towards the use of medical isotopes are some factors driving the market. The Europe market also held a significant share in the global market in 2020.
The market in Asia Pacific is expected to grow at a significant rate during the forecast period. Increasing geriatric population and awareness about nuclear medicines & molecular imaging are contributing to the growth of the radiopharmaceuticals market in this region. Furthermore, this region is focusing on the development of radiopharmaceuticals for the diagnosis and treatment of various diseases. For instance, in August 2018, Indonesia’s National Nuclear Agency (BATAN), along with International Atomic Energy Agency (IAEA), developed new radiopharmaceuticals (99mTc-ethambutol) for diagnosis of tuberculosis.
Furthermore, increasing demand for proper healthcare infrastructure, the non-invasive nature of the process and increasing investment on healthcare in this growing country is likely to upsurge the demand of this market, positively. The nuclear medicine an radiopharmaceuticals market is further driven by spreading awareness at global level, major progress in development of the radiotracers and the new pipeline of radioisotopes. On the other hand, very short-term life of the radiopharmaceuticals, unavailability of the reimbursement policy and strict policy and rule are some of the factors hampering the growth of the market at global level. The radiation exposure side effects are also one of the important factors driving the demand negatively. The major side effects of the radiation are infertility among men, skin irritation, vomiting, fatigue and nausea.
The global market for nuclear medicine and radiopharmaceuticals can be classified on the basis of the product types and applications. Among all segment, cardiology of the application segments dominates the market in terms of largest market share. Whereas, SPECT of the product types segments expected to account for major share of the market in nuclear medicine and radiopharmaceuticals market in coming years.
Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).
The global market for nuclear medicine has been segmented on the basis of region into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America dominated the overall market in terms of revenue in 2020 due to high investments in R&D and support of government towards the use of medical isotopes are some factors driving the market. The Europe market also held a significant share in the global market in 2020.
The market in Asia Pacific is expected to grow at a significant rate during the forecast period. Increasing geriatric population and awareness about nuclear medicines & molecular imaging are contributing to the growth of the radiopharmaceuticals market in this region. Furthermore, this region is focusing on the development of radiopharmaceuticals for the diagnosis and treatment of various diseases. For instance, in August 2018, Indonesia’s National Nuclear Agency (BATAN), along with International Atomic Energy Agency (IAEA), developed new radiopharmaceuticals (99mTc-ethambutol) for diagnosis of tuberculosis.
- Aerospace and Defense
- Agriculture
- Automotive and Transportation
- Business and Finance
- Chemical and Materials
- Consumer Goods and Retails
- Electronics and Semiconductor
- Energy and Power
- Food and Beverages
- Machinery and Equipment
- Manufacturing and Construction
- Medical Devices
- Pharmaceuticals and Healthcare
- Service and Software
- Technology, Media and Telecommunications
- Travel and Tourism
