Growing Applications And Research And Development Expected To Drive The Global Market Growth Of Nuclear Medicine

Author : Acumen Research and Consulting

The global nuclear medicine market is segmented into product, application and region. On the basis of product, the global nuclear medicine market is bifurcated into diagnostics (SPET (TC-99m, TL-201, GA-67, I-123, and Others), PECT(F-18, RB-82, and Others)) and therapeutics (Alpha Emitters (RA-223, Others), Beta Emitters (I-131, Y-90, SM-153, Re-186, Lu-117, Others), Brachytherapy(Cesium-131, Iodine-125, Palladium-103, Iridium-192, and Others)). Application based segmentation of the global nuclear medicine market is into diagnostics and therapeutics. Diagnostics is further bifurcated into cardiology, neurology, oncology, thyroid, lymphoma, and others. Therapeutics is further bifurcated into thyroid, bone metastasis, lymphoma, endocrine tumor, and others. Regionally speaking the global Nuclear medicine market is categorized by Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.

The market is driven by requirement for ahead of schedule and precise analytic strategies, combined with developing need for better treatments. The market’s development is boosted by the expanding occurrence of disease and cardiovascular issue, both areas where nuclear medicine has demonstrated fairly precise in the determination and treatment of such conditions. These areas demand radio pharmaceuticals more than anything as it has shown positive outcomes. This in turn has led to significant R& D in the field with the aim of extending the radioisotope applications for analysis and treatment of bone ailments, respiratory illnesses, thyroid-related ailments, and states of the stomach related tract.

It is expected that the global nuclear medicine market will grow at a CAGR of 9.5% reaching a market size of 16.2 billion by the year 2026.

Here are some more points to help explain about the global nuclear medicine market:

  • Radio pharmaceuticals market segment on the basis of application can further be sub- segmented out of which the oncology sub- segment holds the biggest portion by demonstrative application, while cardiology is required to enlist solid development over the forthcoming years.
  • The bone metastasis sub- segment of the therapeutic segment based on application forms the biggest portion by therapeutic applications. The thyroid sub- segment of the application segment is slated to be exceedingly worthwhile over the coming years.
  • A 44% stake was held by North America in 2018 owing to the progressive healthcare infrastructure in the district, especially in the U.S.
  • The most astounding CAGR is of 10.9% expected by the Asia Pacific region due to the emerging markets such as India and China.
  • Some of the key businesses working in the nuclear medicine market include Eczacibasi-Monrol, Eckert & Ziegler Group, NTP Radioisotopes SOC Ltd.,Mallinckrodt Pharmaceuticals,Australian Nuclear Science & Technology Organization (ANSTO),GE Healthcare,Nordion, Inc.,Jubilant Life Sciences,The Institute of Radio elements,and Bracco Imaging S.p.A.

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