#Nuclear Medicine Diagnostic (SPECT and PET) market Share
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The Global Nuclear Medicine Diagnostic (SPECT and PET) Market (2022-2028) report provides an overview of the development strategies and plans, as well as information regarding the manufacturing cycles and cost structures. Additionally, the report includes import/export utilization, organic market, revenue, and gross margins. The Nuclear Medicine Diagnostic (SPECT and PET) Market Research Report that identifies the leading manufacturers includes GE Healthcare ,Siemens Healthineers ,Philips Healthcare ,Mediso ,Spectrum Dynamics ,Bruker ,SurgicEye ,MIE ,MILabs
In addition, this report offers a quantitative and qualitative analysis of the primary drivers, constraints, opportunities, and challenges influencing the development of the global Nuclear Medicine Diagnostic (SPECT and PET) market. A comprehensive market analysis is provided in the report, together with revenue forecasts for the leading players. In addition, the Nuclear Medicine Diagnostic (SPECT and PET) market report provides information about sales growth in several countries and regions as well as a competitive landscape and specific company analyses. This report examines the prospects and trends of the Nuclear Medicine Diagnostic (SPECT and PET) Market, as well as the current market share, penetration of various kinds, technologies, applications, and geographical regions.
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Drivers and restraints of the global Nuclear Medicine Diagnostic (SPECT and PET) market
The report incorporates an analysis of the factors that contribute to the growth of the market. It includes trends, restraints, and drivers that either positively or negatively affect the market. Moreover, this section includes the scope of different segments and applications that may influence the market in the future. Information in this section is based on present trends and historic milestones. As part of this section, the volume of production for each type of product from 2022 to 2028 is also discussed. From 2022 to 2028, this section provides information on the production volume by region. The report contains price analyses for each product type from the year 2022 to 2028, for each manufacturer from 2022 to 2028, for each region from 2022 to 2028, and for the global price from 2022 to 2028.
A thorough assessment of the restraints presented in the report illustrates the contrast with drivers and provides an opportunity for strategic planning. In order to get hold of the lucrative opportunities that are available in the ever-growing market, considering the factors that overshadow the market growth is pivotal. In addition, insights into market experts’ opinions have been taken into consideration to better understand the market.
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Global Nuclear Medicine Diagnostic (SPECT and PET) Market: Segment Analysis
There are specific segments in the research report by region (country), manufacturer, type, and application. Production for each type is provided for the forecast period of 2022 to 2028. In addition, the Consumption by Application segment includes consumption forecasts for the period from 2022 to 2028. It is important to understand the segments in order to identify various factors that contribute to the market’s growth.
A study of the Nuclear Medicine Diagnostic (SPECT and PET) market provides a detailed analysis of the product scope, market overview, opportunities, risks, driving factors, sales, and revenue. The Nuclear Medicine Diagnostic (SPECT and PET) market report also contains information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, and research findings. The Nuclear Medicine Diagnostic (SPECT and PET) market report also covers many ups and downs in the market during the Covid-19 pandemic, as well as country or regional factors that have affected the global market.
Nuclear Medicine Diagnostic (SPECT and PET) Market Segments by Type:
SPECT
PET
Nuclear Medicine Diagnostic (SPECT and PET) Market Segments by Application:
Oncology
Cardiology
Neurology
Others
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This study provides an overview of the Nuclear Medicine Diagnostic (SPECT and PET) market in terms of definitions, classifications, applications, and the industry chain structure. The report provides a comprehensive analysis of the Nuclear Medicine Diagnostic (SPECT and PET) market share in the global market, as well as development trends, competitive landscape analysis, and key regions development status. The development policies and plans as well as manufacturing processes and cost structures are discussed in this paper. Besides import/export consumption and supply and demand data, this report provides cost, price, revenue, and gross margins.
The information provided is derived from current trends and historical milestones. Also included in this section is an analysis of the volume of production on the global market and for each type from 2022 to 2028. The following section addresses the volume of production by region from 2022 to 2028. The report includes an analysis of pricing based on each type from 2022 to 2028, the manufacturer from 2022 to 2028, the region from 2022 to 2028, and the global price from 2022 to 2028.
Reasons to Purchase Nuclear Medicine Diagnostic (SPECT and PET) Market Report
Nuclear Medicine Diagnostic (SPECT and PET) Market Report provides both qualitative and quantitative analysis of the market based on the analysis of market segments involving both economic and noneconomic factors.
The report gives an overview of the market value (USD) for each segment and sub-segment within the Nuclear Medicine Diagnostic (SPECT and PET) industry.
According to the report, the fastest growing segment and region will dominate the market over the next few years.
A geographic analysis of the Nuclear Medicine Diagnostic (SPECT and PET) market, indicating the consumption of the product in each region and the factors that are affecting the market within each region.
The competitive landscape includes information about the market rankings of the major companies along with information regarding new services/products, partnerships, business expansions, and acquisitions of the companies profiled in the last five years.
Extensive profiles of major market players that include an overview of the company, company insights, and product benchmarking as well as SWOT analyses.
#Nuclear Medicine Diagnostic (SPECT and PET) market#Nuclear Medicine Diagnostic (SPECT and PET) market Size#Nuclear Medicine Diagnostic (SPECT and PET) market Share
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Global Nuclear Medicine Market Size, Trends, Analysis, Growth, Share, Industry Forecast, 2023-2030
Global Nuclear Medicine Market
The Global Nuclear Medicine Market was valued at US$ 5.97 Bn in 2022 estimated to reach US$ 11.59 Bn by 2030, with a CAGR of 8.33% from 2023-2030.
In the field of medicine known as nuclear medicine, numerous ailments such as cancer, cardiac disease, and neurological problems are diagnosed and treated using radioactive materials called radiopharmaceuticals. High-tech cameras allow medical personnel to monitor the radioactive tracers' progress. Additionally, two essential imaging modalities in nuclear medicine are single-photon emission computed tomography (SPECT) and positron emission tomography (PET).
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Market Drivers
The availability of a strong product pipeline and supportive government programs to increase accessibility to nuclear medicine is anticipated to drive market growth in the coming years. Clinical trials are being conducted on several products, such as betalains, omburtamab, yttrium-90 microspheres, PNT2003, and 177Lu-PNT2002. The U.S. has a favorable reimbursement environment for radiopharmaceuticals is expected to stimulate market expansion.
In addition, therapy requirements for patients are growing improvements in disease diagnosis and therapy as well as the approval of novel nuclear medicine-based technologies. For instance, GE Healthcare announced in September 2021 the introduction of a unique scanner with a new automated workflow feature that delivers an excellent view of cardiac anatomy and pathology to aid physicians in selecting the best course of treatment for a patient.
Market Segmentation
The scope of the Global Nuclear Medicine Market covers segmentation based on Diagnostics, Therapeutics, Applications, and Region.
Based on Diagnostics, the market is segmented into Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET).
Based on Therapeutics, the market is classified into Alpha Emitters, Beta Emitters, and Brachytherapy.
Based on Applications, the market is bifurcated into Cardiology, Neurology, Oncology, and Other Applications.
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Regional Analysis
The Global Nuclear Medicine Market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The primary market for nuclear medicine is North America.
The United States' booming healthcare industry, rising cancer rates, rising geriatric population, rise in product launches driving up radioisotope usage, and increased initiatives and investments in cutting-edge healthcare solutions for cancer treatment are all expected to contribute to the market's expansion. In the United States, funding for cancer illness research and treatment is likewise rising. The National Centre for Health Statistics (NCHS) of the Centres for Disease Control & Prevention (CDC) has produced data that estimates cancer-related investments might reach up to USD 7,176 million in 2021.
Key Developments
The Department of Nuclear Medicine at PSG Hospitals in Coimbatore, which is outfitted with cutting-edge technology for diagnosing cancer and other disorders, was opened in April 2022 by Health Minister Ma. Subramanian.
A program enabling nuclear medicine facilities the chance to become designated and certified Centres of Excellence in Radiopharmaceutical Therapy was introduced by SNMMI in February 2022. Strict regulatory, training, certification, experience, and performance standards will be met by the centers, resulting in optimal patient selection and radiopharmaceutical therapy outcomes.
Key Players
Mallinckrodt plc., General Electric Co., Medtronic, plc. (Covidien, acquired by Medtronic), Bayer AG, Cardinal Health, Inc., Lantheus Medical Imaging, Inc., IBA Group, Bracco Imaging S.p.A, NTP Radioisotopes SOC Ltd., Advanced Accelerator Applications S.A.
Key Questions Addressed by the Report
• What are the Key Opportunities in Global Bonsai Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
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Diagnostic Radioisotopes Market is Estimated to Witness High Growth Owing to Increasing Application of Nuclear Medicine
Diagnostic radioisotopes are radioactive materials used as tracers or markers in various diagnostic medical procedures such as positron emission tomography (PET), and single-photon emission computed tomography (SPECT). Diagnostic radioisotopes market estimates the global prevalence of diseases and growing aging population.
Market Dynamics:
The diagnostic radioisotopes market is expected to witness high growth over the forecast period owing to increasing application of nuclear medicine in early disease diagnosis and rising prevalence of chronic diseases such as cancer. According to the American Cancer Society, over 1.9 million new cancer cases are likely to be diagnosed in 2023 and over 609,000 cancer deaths are projected in the United States. Furthermore, technological advancements in diagnostic procedures through combination of radioisotopes with nanotechnology and theranostics are also fueling the market growth during the forecast period. However, short half-life of radioisotopes poses challenge in terms of transportation and inventory management.
Major Drivers Propelling Growth in Demand for Diagnostic Radioisotopes
Increase in prevalence of chronic diseases such as cancer: According to WHO, cancer is one of the leading causes of mortality worldwide with approximately 10 million new cases recorded annually. Diagnostic radioisotopes play a vital role in early detection of tumors which helps in improved disease management and higher chances of recovery. Rising global disease burden coupled with growing awareness about benefits of early diagnosis is estimated to boost market expansion over the coming years.
Advancements in radiotracer drug development: Significant efforts are being directed towards research and development of novel targeted radiotracers which aid in more precise detection and characterization of diseased tissues. Companies are engaged in developing improved compounds for positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scans. Launch of such enhanced diagnostic tools will augment the need for specific radioisotopes in the healthcare industry.
Major Market Restrain Hampering Growth in Diagnostic Radioisotopes Market
Stringent regulations pertaining to radioisotope production and trade: Production of medical radioisotopes requires compliance to strict guidelines set by international regulatory agencies to ensure safety in handling of radioactive materials. Changes in regulations could disrupt supply chains until manufacturers make necessary adjustments. Additionally, international trade faced obstacles due to protectionist import/export policies adopted by some countries which negatively impacts market economics. High dependency on few specialized centers for isotope supply makes the industry vulnerable to political risks as well.
Major Market Opportunity for Growth in Diagnostic Radioisotopes Market
Untapped potential in emerging nations: Developing regions in Asia Pacific and Latin America currently account for a small share of the global diagnostic radiopharmaceutical market. However, their demand is projected to increase substantially over coming years driven by rapid economic development, rising healthcare investments, growing patient access to nuclear medicine facilities and increasing government focus on non-communicable diseases. This presents lucrative business opportunities for market players to establish production sites and supply chain networks in such emerging healthcare markets.
Major Market Trend Influencing Growth in Diagnostic Radioisotopes Market
Increasing shift towards theranostics: Theranostics is an evolving field combining therapy and diagnostics which employs the same pharmaceutical moiety for both applications. Companies are actively pursuing the development of dual-functional radiotracers which can deliver therapeutic radiation directly to diseased sites identified on diagnostic scans. This novel approach could revolutionize management of chronic illnesses and boost clinical efficacy. The rising focus on theranostic radiopharmaceuticals reflects the evolving trend in nuclear medicine technology that is likely to shape future growth trajectories in the diagnostic radioisotopes industry.
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Nuclear Medicine Market Segment Analysis By Product, Application, End-Use, Region And Forecast Till 2030: Grand View Research Inc.
San Francisco, 17 Nov 2023: The Report Nuclear Medicine Market Size, Share & Trends Analysis Report By Product (Diagnostics (SPECT, PET), Therapeutics (Alpha Emitters, Beta Emitters, Brachytherapy)), By Application, By End-use, By Region, And Segment Forecasts, 2023 – 2030
The global nuclear medicine market size is expected to reach USD 22.3 billion by 2030, registering a CAGR of 11.8% over the…
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#Nuclear Medicine Industry#Nuclear Medicine Market#Nuclear Medicine Market 2023#Nuclear Medicine Market 2030#Nuclear Medicine Market Revenue#Nuclear Medicine Market Share#Nuclear Medicine Market Size
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Radiopharmaceuticals in Nuclear Medicine Market to Eyewitness Massive Growth by 2028
The Latest Released market study on Global Radiopharmaceuticals in Nuclear Medicine market provides information and useful stats on market structure, size and trends. The report is intended to provide cutting-edge market intelligence and strategic insights to help decision makers take sound investment decisions and identify potential gaps and growth opportunities. Besides, the report also identifies and analyses changing dynamics, emerging trends along with essential drivers, challenges, opportunities and restraints in Radiopharmaceuticals in Nuclear Medicine market.
What’s keeping:
Cardinal Health (United States)
GE Healthcare (United States)
Curium (France)
Lantheus Medical Imaging (United States)
Bayer AG (Germany)
Bracco Imaging (Italy)
Eczacýbaþý-Monrol Nuclear Products (Turkey)
Nordion (Canada)
Advanced Accelerator Applications (France)
NTP Radioisotopes (South Africa)
Keep Growing in the Market? Benchmark yourself with the strategic moves and latest Market Share and Sizing of Global Radiopharmaceuticals in Nuclear Medicine market recently published by AMA
Radiopharmaceuticals are radioactive compounds that have a bound radionuclide in their structure, whose purpose is directing the radionuclide to a location to be treated or to obtain images. Nuclear medications, also known as radiopharmaceuticals, are used to treat lymphoma and bone metastases. Nuclear medicines such as F-18, Tc-99, Ga-67, and I-123 are used in diagnostic operations, while I-131, Ir-192, Y-90, I-125, Lu-177, and Ra-223 are employed in therapeutic procedures. In comparison to chemotherapy, the convenience of treatment using minimally invasive approaches attracts more people to radiopharmaceuticals. The radiopharmaceuticals industry is driven by the rising number of cardiac patients and the development of clear imaging techniques using diagnostic equipment such as PET and SPECT. Supply constraints, logistical challenges, and a scarcity of skilled medical professionals are among the problems limiting the market's growth.
The Radiopharmaceuticals in Nuclear Medicine Market segments and Market Data Break Down 24360
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
What’s Trending in Market: High Demand due to increasing Initiatives to reduce the demand and supply gap of Mo-99
Market Challenges: Hospital budget cuts and high equipment costs
Market Opportunities: Use of radiopharmaceuticals in neurological applications
Highlights of Influencing Drivers: Rising incidence as well as prevalence of target conditions
Huge Development of alpha-radioimmunotherapy-based targeted cancer treatments
Presented By
AMA Research & Media LLP
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Nuclear Medicine/Radiopharmaceuticals Market – Trends Forecast Till 2028
Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT - Technetium, PET - F-18), Therapeutic (Beta Emitters - I-131, Alpha Emitters, Brachytherapy - Y-90)), Application (Oncology, Cardiology), Procedures and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The Nuclear Medicine/Radiopharmaceuticals Market size is projected to reach a CAGR of 10.1% from 2021 to 2028.
Radiopharmaceuticals are pharmaceutical formulations comprising radioactive isotopes that are used in diagnosis and therapeutics. They are simple and small substances that contain a radioactive substance that is used in the treatment of cancer and cardiac & neurological disorders.
Increasing incidence and prevalence of cancer and cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99 are some of the factors that have supported long-term expansion for Nuclear Medicine/Radiopharmaceuticals Market.
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Regional Analysis
North America is expected to account for the largest share of the nuclear medicine market during the forecast period, The large share of North America can be attributed to the development of novel technologies for radioisotope production, government funding, increasing R&D expenditure and company initiatives in the region.
Key Players
Mallinckrodt plc.
General Electric Co. (healthcare division)
Medtronic, Inc.
Bayer AG
Cardinal Health, Inc.
Lantheus Medical Imaging, Inc.
IBA Group
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Recent Developments
In 2021, Bracco entered into a partnership with CardioNavix which will help improve patient access to cardiac PET imaging.
In 2019. Curium acquired MAP Medical, which will help it to increase its footprint in Europe with direct access to Nordic and Baltic countries.
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Gain authentic and granular data access for Nuclear Medicine/Radiopharmaceuticals Market so as to understand the trends and the factors involved behind changing market situations
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Report Scope
Nuclear Medicine/Radiopharmaceuticals Market is segmented into type, application, procedural volume assessment and region.
On the basis of Type
Diagnostic Nuclear Medicine
Therapeutic Nuclear Medicine
Brachytherapy Isotopes
On the basis of Application
Diagnostic Applications
On the basis of Procedural Volume Assessment
Diagnostic Procedures
Therapeutic Procedures
On the basis of Region
Asia Pacific
North America
Europe
South America
Middle East & Africa
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Radiopharmaceuticals Market
The “Radiopharmaceuticals Market” size was valued at USD 6,242.80 million in 2021 and is estimated to reach a compound annual growth rate CAGR of 6.2% over the forecast period 2023 to 2030. Radiopharmaceuticals are a class of pharmaceutical medicines with a significant radioactivity level. Radiopharmaceuticals are pharmaceuticals formulations that contain radioactive isotopes. These medications can be administered intravenously, orally, or interstitially. In addition, compared to X-rays and other external radiation imaging systems, it is a suitable and secure alternative for patients and aids physicians in diagnosis.
Radiopharmaceuticals and nuclear medicine are increasingly utilized in diagnostic imaging and radiotherapy. This has paved the way for the market expansion of radiopharmaceuticals. Nuclear medicine and radiopharmaceuticals aid in diagnosing organs affected by any pathological condition, particularly malignancy. This modality's applications have expanded from oncology to cardiology, neurology, and infection detection due to the rapid development of nuclear imaging technologies, particularly PET/PET-CT.
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Radiopharmaceuticals Market Dynamics:
Drivers:
The radiopharmaceuticals market is driven by several factors, including:
Increasing prevalence of cancer: With the rising incidence of cancer, the demand for radiopharmaceuticals is increasing as they are used in cancer diagnosis, staging, and treatment.
Growing demand for nuclear medicine: Radiopharmaceuticals are an essential part of nuclear medicine, which is increasingly being used for the diagnosis and treatment of various diseases.
Technological advancements in imaging modalities: The development of new imaging modalities, such as PET/CT and SPECT/CT, is driving the demand for radiopharmaceuticals, as these modalities require the use of radiopharmaceuticals.
Favorable regulatory policies: Governments are implementing favorable policies and regulations to promote the use of radiopharmaceuticals in healthcare, which is driving the growth of the market.
Increasing investment in research and development: Pharmaceutical companies are investing heavily in research and development to develop new radiopharmaceuticals and improve the existing ones, which is driving the growth of the market.
Rising geriatric population: With the increasing geriatric population, the incidence of chronic diseases is on the rise, which is driving the demand for radiopharmaceuticals in diagnosis and treatment.
Growing awareness about the benefits of nuclear medicine: As the awareness about the benefits of nuclear medicine and radiopharmaceuticals is increasing among patients and healthcare professionals, the demand for these products is also increasing.
Restraints:
Side-Effects of Radiopharmaceuticals
Numerous adverse effects of radiopharmaceuticals inhibit market expansion. Among the side effects are chills, severe lethargy, difficulty breathing, flushing or redness of the skin, nausea or vomiting, skin rash, hives, itching, severe headache, and abdominal pain. Therefore, these factors inhibit market expansion.
This radiopharmaceuticals market report provides details of new developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies served, and competitive landscape. For more information on the radiopharmaceuticals market, contact Data Bridge Market Research for an Analyst Brief; our team will assist you in making well-informed decisions for market expansion.
Opportunities:
Increasing Demand for Nuclear Imaging Technologies
The development of nuclear imaging technologies, such as PET or PET-CT, has aided in expanding the applications of this modality from oncology to cardiology, neurology, and infection detection. These technological advances have significantly increased the number of PET and SPECT procedures. In the United States, approximately 2,220,300 PET treatments were performed in 2020, up from 2,200,800 in 2019. Consequently, it is anticipated that this factor will increase radiopharmaceutical market revenue.
Growing R&D Activities Associated with Radiopharmaceuticals
Increased radiopharmaceutical-related R&D activities enhanced market growth. In 2022, for example, the first patient dosed in phase III clinical trials for PET radiopharmaceutical imaging agents developed by GE Healthcare was initiated. The strategic approach will help to enhance patient care by identifying adult Parkinson's disease with greater precision. GE Healthcare will expand its radiation patent portfolio. Thus, this factor stimulates market expansion.
Market Segmentation Analysis:
The global Radiopharmaceuticals Market” is Segmented by Radioisotopes, Application, Source, End-user, and Region.
By Radioisotopes
Tec.99
F18
Iodine 131
Lutetium 177
Yttrium 90
Gallium 68
Gallium 67
Rubidium 82
Iodine 123
Iodine 125
Indium 111
Others
By Application
Oncology
Cardiology
Gastroenterology
Neuroendocrinology
Neurology
Nephrology
Others
By Source
Cyclotrons
Nuclear Reactor
By End User
Hospitals
Diagnostic Imaging Centers
Ambulatory Surgical Centers
Cancer Research Institute
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East, and Africa
Competitive Landscape:
The radiopharmaceuticals market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market are
Siemens AG
Positron Corporation
Curium
GE Healthcare
Lantheus Holdings Inc.
Sotera Health LLC
Bayer AG
Eckert & Ziegler
Novartis AG, and BWX Technologies Inc.
The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, which are contributing to the growth of the radiopharmaceutical market globally.
Siemens AG
Siemens is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
Recent Development
In 2021, NorthStar Medical Radioisotopes, LLC, a global radiopharmaceutical developer, and GE Healthcare confirmed an exclusive partnership to manufacture and distribute iodine-123 (I-123) capsules in the U.S. The product will assist GE Healthcare in enhancing its product portfolio and boosting its market position.
In 2021, Noria Therapeutics Inc. and PSMA Pharmaceuticals Inc. were acquired by Bayer AG Targeted both radiotherapy businesses are developing therapeutic and diagnostic radiopharmaceuticals. The acquisition is anticipated to add to Bayer's current nuclear medicine oncology portfolio.
Regional Analysis:
North America dominates the radiopharmaceuticals market because of the huge base of healthcare facilities and increasing overweight population base. Also, wide presence of a huge patient population suffering from chronic diseases such as coronary disorders, cancer, and strokes and rising number of research activities in this region are also boosting the market growth.
Asia-Pacific is expected to witness significant growth due to the growth in government initiatives to raise awareness and increasing research activities in the region. Also, growing availability of the well-established infrastructure, wide presence of major market players, growth in cases of cardiovascular diseases are boosting the growth rate of the market.
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Radiopharmaceuticals Market To Undertake Strapping Growth By The End 2032 | FMI
The global radiopharmaceuticals market stands at US$ 6.2 Bn as of now and is expected to reach US$ 9.5 Bn by the year 2032 at a CAGR of 4.3% between 2022 and 2032.
Radiopharmaceuticals imply medications containing radioisotopes that could be used as both – therapeutic agents and diagnosis medications. Radiopharmaceuticals manage critical as well as chronic diseases. These days, various diagnostics are aimed towards organs with nuclear medicine radiopharmaceuticals.
PET and SPECT techniques are used in abundance while deploying radiopharmaceuticals. Some of the distinct features of radiopharmaceuticals include non-invasiveness, cost-effectiveness, easy of diagnosis, and higher sensitivity. Clinical applications include cardiology, oncology, lymphoma, and tumor.
Growing awareness regarding positive results provided by radiopharmaceuticals in checking chronic illness is one of the catalysts to radiopharmaceuticals market.
On the other hand, the fact that radiopharmaceuticals have half-life could restrain the market. It’s a known fact that radiopharmaceuticals involve higher investment. Short expectancy or half-life is one of the crucial factors restricting demand for radiopharmaceuticals. Thus, it’s only the developed regions who are able to increasingly adopt radiopharmaceuticals as of now. The developing economies still need to incorporate the technology to the fullest. Future Market Insights has walked through these functionalities with future prospects in its latest market study entitled ‘Radiopharmaceuticals Market’.
Key Takeaways from Radiopharmaceuticals Market
North America dominates the radiopharmaceuticals market due to rising frequency of cardiovascular diseases and cancer and the scenario is expected to persist even in the forecast period. Adopting innovative radioisotope production methods for treating chronic disorders is another reason.
Europe, led by the UK, is also expected to hold a significant market share due to the UK being subject to maximum incidences of cancer. Cancer Research UK estimate says that the UK alone houses 367,167 cancer patients.
The Asia-Pacific is poised to grow blatantly in the forecast period with it witnessing new product launches, collaborations, distribution agreements, acquisitions in an aplomb.
“The fact that radiopharmaceuticals are broadly used as biomarkers in molecular imaging is expected to take the radiopharmaceuticals market by storm in the upcoming period”, says an analyst from Future Market Insights.
Competitive Landscape
GE Healthcare inked an agreement with NorthStar Medical Radioisotopes, LLC for producing and distributing iodine-123 (I-123) capsules all across the US.
Bracco Diagnostics Inc., in March 2021, entered into partnership with CardioNavix, LLC for enhancing patients’ access to cardiac PET imaging. The new program is termed as ‘Bracco Mobile Isotope Service’, which ought to facilitate better patient care sites for providing cardiac PET imaging.
Jubilant Radiopharma, in August 2020, signed a MoU (Memorandum of Understanding) with Navidea Biopharmaceuticals, which focuses on an ELDA (Exclusive License and Distribution Agreement) for the latter’s diagnostic imaging agent called ‘Tilmanocept (technetium Tc 99m tilmanocept injection) in LATAM, Mexico, Canada, and the US.
Bayer AG, in June 2021, announced that it would acquire Noria Therapeutics Inc. along with PSMA Therapeutics Inc. with the objective of widening the former’s oncology portfolio that is into existence.
Norgine B.V., in March 2020, completed the acquisition of Azanta A/S, a specialty biopharmaceutical company. This included Nimorazole, a hypoxic radiosensitizer to treat cancer, and Angusta to facilitate labor induction.
Curium, in the year 2019, completed acquisition of MAP Medical, which would actually help it in strengthening the footprint all over the Europe with access to Baltic and Nordic countries.
The US FDA, in December 2020, completed approval of Gallium 68 PSMA-11 (Ga 68 PSMA-11). It holds the distinction of being the very first drug for PET imaging for diagnosing prostate cancer.
Top Radiopharmaceuticals companies : Siemens AG,Positron Corporation,Novartis (Advanced Accelerator Applications),Curium,GE Healthcare,Lantheus Holdings Inc.,Sotera Health LLC (Nordion Inc.),Bayer AG,Eckert & Ziegler,
Key Segments Covered in the Radiopharmaceuticals Industry Analysis
Radiopharmaceuticals Market by Radioisotope Type:
Technetium-99
Fluorine-18
Iodine-131
Leutetium-177
Yttrium-90
Gallium-68
Gallium-67
Rubidium-82
Iodine-123
Iodine-125
Indium-111
Others
Radiopharmaceuticals Market by Application:
Oncology
Cardiology
Gastroenterology
Neuroendocrinology
Neurology
Nephrology
Others
Radiopharmaceuticals Market by Source:
Cyclotrons
Nuclear Reactors
Radiopharmaceuticals Market by End User:
Hospitals
Diagnostic Imaging Centers
Ambulatory Surgical Centers
Cancer Research Institute
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Molecular Imaging Market Size, Global Industry Manufacturers, Share and Forecasts 2031
Molecular imaging is an emerging diagnostic technology that allows visualization, differentiation, and quantify various biological processes occurring inside a living organism at the molecular and cellular level. The global molecular imaging market is estimated to be valued approximately at US$ 4 Bn in 2021, finds Future Market Insights (FMI) in a study.
Molecular imaging targets molecular pathways and mechanisms associated with a particular disease present inside a living body. It enables to study of the molecular abnormalities taking place inside the body to carry out early detection of disease and to optimize medications aiming for disease-related molecular targets. Nuclear medicine plays a vital role in conducting a molecular imaging process and can be broadly used for the treatment of distinct cancer and related diseases.
Clinical molecular imaging is trending towards hybrid modalities such as PET-CT, SPECT, or PET-MR that provide high-resolution anatomical imaging. PET-CT is anticipated to gain maximum revenue share over the forecast period, and the segment is projected to expand at a CAGR of 16.3% during the forecast period.
Molecular imaging has evolved as a promising tool for early detection of cancers and cardiac diseases, providing a more complete picture of the tumor genome, as well as monitoring tumor emergence during disease. Molecular imaging provides the ability to accurately evaluate biological responses to the treatment of individual patients over time, opening the door to personalized medical techniques directed by molecular imaging reporters.
Key Takeaways from Molecular Imaging Market Study
Molecular imaging market will register accelerating demand, enabling a y-o-y growth of nearly 11% in 2021
Backed by presence of a state-of-the-art healthcare infrastructure, the U.S. accounts for nearly 65% sales in North America
Driven by rising cases of cancer, the U.K. market will exhibit above 14% y-o-y growth in 2021
Government initiatives aimed at offering advanced medical care will enable growth in Germany and France
The market in China is expected to surge at a CAGR of over 10% from 2021 to 2031
“Increasing research & development activities in cancer-specific drug discovery and other chronic diseases are expected to boost demand for molecular imaging. Besides this, as a result of increasing incidence of cancer the demand for highly sensitive and precise diagnostic for better treatment solutions is increasing,” says a Future Market Insights analyst.
Molecular Imaging Needs Rising In Response to Increasing Cancer Cases According to the World Health Organization (WHO) in 2020, breast cancer emerged as the most common type of cancer, affecting 2.2 million people around the world. Lung cancer has been the leading cause of death with over 1.7 Mn of total deaths in 2020. North America has the highest incidence rate of cancer followed by East Asia. This rise in the cancer population is leading to a rise in the demand for diagnostic imaging, thereby catalyzing the demand for molecular imaging.
Who is Winning? Key players in the molecular imaging market are keenly focusing on carrying out strategic activities such as acquisitions, collaborations, and mergers, product launch, global expansion to create a strong position in the market is leading to vigorous developments which are helping the market to grow at a considerable rate.
For instance, in 2019, Bruker Corporation launched a benchtop magnetic resonance spectrometer with a high-field 9.4 Tesla small animal MRI system with integrated in-line PET. Thus strengthening its product portfolio.
Strategies adopted by key players are often intended at global expansion. They largely focus on product launches and mergers & acquisitions. There have been a few strategic partnerships among leading players to enhance the product line and better facilities for end-user.
In September 2020, Bruker Corporation announced the acquisition of Canopy Biosciences, LLC. This acquisition enhances Bruker’s offering in targeted multi-omics and fluorescence-based imaging techniques.
Some of the key players are Key market players covered by Future Market Insights in the report are is Hermes Medical Solutions, Bruker Corporation, GE Company, Fujifilm Holdings Corp., Koninklijke Philips N.V., Siemens AG, Toshiba Medical System Corp., Mirada Medical Limited, Carestream Health, Inc., Esaote SpA, Positron Corporation, Medisco Ltd., Hitachi Medical Corp., MIM Software Inc.
Want more insights? Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global molecular imaging market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights based on a modality (Positron Emission Tomography (PET), Positron Emission Tomography- Computed Tomography (PET-CT), Positron Emission Tomography- Magnetic Resonance (PET-MR), Single Photon Emission Computed Tomography (SPECT), Software, Magnetic Resonance Spectroscopy, Molecular Ultrasound Imaging), Application (Cardiology, Oncology, Gastrointestinal Disorders, Neurology Disorders, Others) and end-user ( Hospitals, Ambulatory Surgical Centers, and Diagnostic Centers), across seven major regions of the world.
Molecular Imaging Market by Category Modality
Positron Emission Tomography (PET)
Positron Emission Tomography- Computed Tomography (PET-CT)
Positron Emission Tomography- Magnetic Resonance (PET-MR)
Single Photon Emission Computed Tomography (SPECT)
Software
On Premises Solutions
Cloud Based Solutions
Magnetic Resonance
Molecular Ultrasound Imaging
Application
Cardiology
Oncology
Gastrointestinal Disorders
Neurology Disorders
Others
End User
Hospitals
500+ Beds
200-499 Beds
Less than 200 Beds
Ambulatory Surgical Centres
Diagnostic Centres
Information Source:
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The nuclear medicine and radiopharmaceutical manufacturing market is estimated to be more than USD 6 billion in 2030
The recent surge in the demand of radiopharmaceuticals for diagnostic and therapeutic applications, coupled with the introduction of theranostics, has opened up opportunities for companies having capabilities to manufacture nuclear medicine and radiopharmaceuticals
Roots Analysis is pleased to announce the publication of its recent study, titled, “Nuclear Medicine and Radiopharmaceuticals Manufacturing Market, 2020-2030”
The report provides a detailed study on the current market landscape and future potential of the companies having the capabilities to manufacture radiopharmaceuticals. In addition, the study features an in-depth analysis, highlighting the capabilities of a diverse set of industry stakeholders. Amongst other elements, the report features the following:
§ A detailed assessment of the current market landscape with respect to the players (industry and non-industry) involved in manufacturing radiopharmaceuticals.
§ An insightful four-dimensional comparison of the radiopharmaceutical manufacturers.
§ Tabulated profiles of key industry players based in North America, Europe and Asia-Pacific (shortlisted based on the company size of the players).
§ An analysis of recent partnerships and collaborations inked in this domain since 2017.
§ A detailed discussion on the supply chain model of medical isotope Mo-99 (Tc-99m).
§ A detailed market forecast, featuring analysis of the current and projected future opportunity across key market segments (listed below)
§ Target Therapeutic Area
§ Cardiology
§ Neurology
§ Oncology
§ Thyroid
§ Others
Application Area
§ Diagnostic
§ Therapeutic
§ Type of Diagnostic Radiopharmaceuticals
§ PET
§ SPECT
§ Type of Therapeutic Radiopharmaceuticals
§ Alpha Emitters
§ Beta Emitters
§ Others
§ Purpose of Production
§ In-House
§ Outsourcing
Key Geographical Region
§ North America
§ Europe
§ Asia-Pacific and the Rest of the World
Transcripts of interviews held with the following senior level representatives of stakeholder companies
§ J James Davis, Vice President Quality / R&D, Shertech Laboratories
§ Andreas Fotopoulos, Professor of Nuclear Medicine, University of Ioannina Medical School
§ Jan Pruim, Professor of Medical Imaging / Nuclear Medicine Physician, University Medical Center of Groningen
§ Michael van Dam, Professor, Crump Institute for Molecular Imaging, Molecular & Medical Pharmacology
§ Anonymous, ITM Isotopen Technologien München
Key companies covered in the report
§ Advanced Accelerator Applications
§ Belgian Nuclear Research Center (SCK•CEN)
§ Cardinal Health
§ China Isotope & Radiation Corporation
§ Curium Pharma
§ DuChemBio
§ Eckert & Ziegler
§ Eczacibasi-Monrol
§ GE Healthcare
§ Jubilant DraxImage
§ Lantheus Medical Imaging
§ Nihon Medi-Physics
§ Nordion
§ PETNET Solutions
§ SinoTau Pharmaceuticals
§ SOFIE
For more information please click on the following link:
https://www.rootsanalysis.com/reports/nuclear-medicine-and-radiopharmaceuitcals-manufacturing.html
Other Recent Offerings
1. High Energy Chemistry / Hazardous Chemistry-based API Manufacturing Services Market: Focus on High Temperature, Low Temperature / Cryogenic, High Pressure and Low Pressure Chemistries, 2020-2030
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3. China Biopharmaceutical Contract Manufacturing Market, 2020 - 2030
4. Continuous Manufacturing Market (Small Molecules and Biologics), 2020 – 2030
About Roots Analysis
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Radiopharmaceuticals Market Research Report that Helps to Identify New Business Opportunities in 2027
Radiopharmaceuticals Market Highlights :
Global Radiopharmaceuticals Market is expected to register a CAGR of 8.10% during the forecast period, with a market value of USD 15,060.87 Million till 2025.
Radiopharmaceuticals are radioactive compounds or nuclear medicines that find diagnostic and therapeutic applications in the medical industry. The radioactive particles are used in medical imaging to diagnose diseases and to treat cancer through targeted therapy.
The global radiopharmaceutical market is expected to exhibit an exponential growth during the forecast period, owing to the increasing prevalence of chronic diseases such as cancer, the growing use of radioisotopes in the healthcare industry, increasing application of radiopharmaceuticals for the diagnosis & treatment of chronic diseases, and the technological advancements in diagnostics sector.
However, factors such as the short half-life of radiopharmaceuticals and its high cost are likely to restrain the market growth. Other factors restraining the market growth are side-effects of radiopharmaceuticals and strict regulations pertaining to their manufacturing.
Radiopharmaceuticals Market Segment Analysis :
The Global Radiopharmaceuticals Market, by type, has been divided into diagnostics, and therapeutic. The diagnostics segment is further segmented into SPECT radiopharmaceuticals and PET radiopharmaceuticals. SPECT radiopharmaceuticals are classified into Tc99m, I-123, and Others. PET radiopharmaceuticals segment is bifurcated into F18, C11 Choline, and Others.
The radioactive tracer (radiopharmaceutical) is given to the patient by intravenous injection, orally, or by other routes depending on the organ and the function to be studied. In developed countries about one in 50 persons are found to undergo diagnosis using radiopharmaceuticals each year. The growing importance of diagnostic radiopharmaceuticals to predict the effects of surgery and assess the changes is anticipated to drive the growth of this segment during the forecast period.
The Global Radiopharmaceuticals Market, by application segment, has been segmented into neurology, cardiology, oncology, and others. The neurology is the largest segment in the global radiopharmaceuticals market. The rising prevalence of neurological disorders is expected to drive the growth of this segment during the forecast period.
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Radiopharmaceuticals Market Regional Analysis :
The Global Radiopharmaceuticals Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas accounted for the largest share in the global radiopharmaceuticals market. The Americas is further segmented into North America and Latin America. North America is further divided into the US and Canada. Latin America consists of Mexico, Brazil, Colombia, Argentina, Chile, Peru, Uruguay, and Venezuela. The rising demand for non-invasive diagnostics and treatments and the presence of a vast patient population suffering from chronic diseases are likely to provide favorable conditions for the growth pf the market.
Europe established substantial growth in the market and anticipated to register the highest CAGR during the forecast period. Europe is segmented into Western Europe, Northern Europe, Eastern Europe, and the Rest of Europe. Rising investment for research and the presence of a vast patient pool and an increasing number of radioisotope approvals for different clinical indications are expected to drive the growth of the market.
The Asia-Pacific market for radiopharmaceuticals is further divided into Japan, China, Australia, India, South Korea, South-East Asia, New Zealand, Pakistan, and the Rest of Asia-Pacific. South-East Asia is further divided into Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. The radiopharmaceutical companies are expanding their operations in countries such as China, India, Singapore, and Russia, owing to the cost-efficiency in these regions.
Additionally, Asia-Pacific has a large pool of geriatric populations requiring invasive therapies for the treatment of the increasing cases of cardiovascular diseases, neurological diseases, and others. According to the Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, approximately 12.4% of the population in the region was 60 years or older and is projected to rise to 1.3 billion people by 2050.
The radiopharmaceuticals market in the Middle East & Africa is expected to grow due to the presence of developed countries such as Egypt, Saudi Arabia, and others. Additionally, increasing awareness about radiopharmaceuticals in the region is expected to contribute to the growth of the market.
Radiopharmaceuticals Market Key Players :
MRFR recognizes the following companies as the Key Players in the Global Radiopharmaceuticals Market— GE Healthcare, Lantheus Medical Imaging, Inc., Novartis AG, BWX Technologies, Inc., Siemens Healthineers, IRE ELiT, JSC Isotope, NTP Radioisotopes SOC Ltd, Curium, Australian Nuclear Science and Technology Organization (ANSTO), and others
Key Findings of the Study :
The Global Radiopharmaceuticals Market is estimated to grow at USD 15,060.87 million by 2025 at a CAGR of 8.10% during the assessment period.
Americas accounted for the largest share of the global market due to the presence of key market players and the rising demand for non-invasive diagnostics and treatments.
Based on the type, the diagnostics segment accounted for the largest market share of 82.9% in 2018.
Global radiopharmaceuticals market on the basis of application is dominated by neurology segment with 37.8% market share.
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#Radiopharmaceuticals Market Research Report#Radiopharmaceuticals Market Report#Radiopharmaceuticals Market Trends
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Medical Imaging Agents Global Market – Forecast To 2031
Chemical substances that improve the visibility of specific organs, tissues, or blood vessels during a diagnostic imaging investigation are known as medical imaging agents which comprise contrast agents and nuclear imaging agents, these agents are administered directly through veins, arteries, and joints or consumed orally. X-ray/computed tomography (CT) imaging exams make use of iodinated and barium-based contrast agents, whereas, Gadolinium-based contrast agents are preferred in MRI (Magnetic Resonance Imaging). These substances improve the reporting or accuracy of how internal structures of the body are working and any associated abnormalities. Ultrasound scans make use of special contrast agents called microbubbles which strongly interact with the ultrasound beam and enhance the details of the heart, liver and kidney. Nuclear medicine is a highly multi-disciplined medical imaging specialty, where, SPECT and PET scanners are used along with small amounts of radioactive material in order to diagnose diseases. According to IQ4I estimates, the Medical imaging agents global market is expected to grow at mid single-digit CAGR from 2022 to 2031 to reach $12,881.0 million by 2031.
Medical imaging agents global market is segmented based on molecule/isotope, modality, application, route of administration, imaging and end-users. The market based on molecule/isotope segmented into contrast agents and nuclear imaging agents, where the contrast agents segment commanded the largest revenue in 2021 and the segment is expected to grow at mid single-digit CAGR from 2021 to 2028. The contrast agents global market is further segmented based on molecule into Iodine based [Ionic (Monomeric and Dimeric), Non-Ionic (Monomeric and Dimeric)], Gadolinium-based contrast agents [Macrocyclic (Ionic and Non-Ionic), Linear (Ionic and Non-Ionic)], microbubble based contrast agent and others which include Barium and iron-based contrast agents. Iodine-based contrast agents market contributed the largest revenue in 2022 and is expected grow at low single-digit CAGR of 4.7% from 2022 to 2031 and the microbubble segment is growing rapidly at late teen double-digit CAGR from 2022 to 2031 due to expansion in disease indications. Based on ionicity, the Iodine-based contrast agent is segmented into ionic and non-ionic. The non-Ionic Iodine-based contrast agents market accounted for the largest share in 2022 and the market is projected to grow at a mid single-digit CAGR from 2022 to 2031. Because of lower osmolality, better tolerance and another advantage, non-ionic iodine contrast agents are preferred and they are less toxic. Ionic Iodine based contrasts are further segmented based on chemical structure into monomers and dimers. Monomers accounted for the largest share in 2021 and is estimated to grow at a mid single-digit CAGR from 2022 to 2031. Non-Ionic as they are safer and tolerable when compared to ionic contrast agents and low osmolar agents do not dissociate into a particle in solution and help in reducing the neurotoxicity. The gadolinium contrast agents are further segmented based on chemical structures into macrocyclic and linear agents, among which the macrocyclic commanded the largest share in 2022 and is expected to grow at high single-digit CAGR from 2022 to 2031. Macrocyclic agents are further segmented into ionic and non-ionic agents, among which, non-ionic commanded the largest revenue in 2022 and is estimated to grow at a mid single-digit CAGR from 2022 to 2031. The Ionic segment is expected to grow at a high single-digit CAGR from 2022 to 2031.
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As estimated by IQ4I Research, the nuclear imaging agents global market is poised to grow at mid single-digit CAGR from 2022 to 2031. Increased radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, the abundance of radiopharmaceuticals, advancement in imaging technology (hybrid imaging) is boosting nuclear imaging agent's market growth. In addition, increasing need in emerging markets, production of radiopharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipment are the opportunities likely to propel the growth of the nuclear imaging agents market.
The nuclear imaging agents global market based on isotopes are segmented into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Xe-133, Rhenium (Re-186), Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others. Technetium (Tc-99m) isotope commanded the largest revenue in 2021 and is expected to grow at mid single-digit CAGR from 2022 to 2031 and Gallium (Ga-68) is projected to grow at high double-digit CAGR from 2021 to 2028 due to its increasing use in the diagnosis of neuroendocrine tumors and emerging use in prostate cancer.
The Medical imaging agents market based on modality is segmented into X-ray/CT, MRI, Ultrasound, SPECT and PET. X-Ray/CT market held the largest market revenue in 2021 and is expected to grow at low single-digit CAGR from 2021 to 2028 and the ultrasound segment is growing rapidly at late teen double digit CAGR from 2021 to 2028 due to increased use in diagnostic procedures especially echocardiography, focal liver lesions and ultrasonography of urinary tract.
The Medical imaging agents market based on applications is segmented into cardiovascular, cancer, gastrointestinal, musculoskeletal, neurology, nephrology, obstetrics & gynecology, pulmonary, hepatology and others which include neck, bone and salivary gland imaging. The cardiovascular market accounted for the largest share in 2022 and is expected grow at mid single-digit CAGR from 2022 to 2031 and cancer is the fastest-growing segment with a high single-digit CAGR from 2022 to 2031 due to an increase in cancer imaging such as lung, thyroid and breast cancer imaging procedures using Iodine, Gadolinium and microbubble contrast agents and radiopharmaceuticals.
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Medical imaging agents market by route of administration is segmented into intravascular, oral, rectal and others, which include intraosseous, intrathecal and intravesical. Intravascular accounted for the largest share in 2022 and is the fastest-growing market with a projected mid single-digit CAGR from 2022 to 2031 due to an increase in incidence and prevalence of cardiovascular, cancer, neurology, nephrology related conditions which require Iodine, Gadolinium, microbubble contrast agent and nuclear imaging agents to be administered intravascular.
The medical imaging agents market based on imaging is segmented into diagnostic and interventional imaging. Diagnostic imaging commanded the largest revenue in 2022 and is expected grow mid single-digit CAGR from 2022 to 2031. The interventional imaging segment is estimated to grow at early teens CAGR from 2022 to 2031 due to an increase in image guide procedures and an increase in the aging population who usually opt for minimally invasive procedures.
Medical imaging based on the end-user market is segmented into hospitals, diagnostic & ambulatory surgical centers and others which include academic and research institutes. The hospitals market accounted for the largest share in 2022, and the market is expected to grow at mid single-digit CAGR from 2022 to 2031 , the rising demand for the diagnosis using CT or X-Ray, MRI, ultrasound, SPECT and PET imaging procedures due to increase in incidence and prevalence of diseases, the ready availability of cyclotrons for the generation of isotopes and presence of trained technicians who can handle radioisotopes. The diagnostic & Ambulatory surgical centers segment is the fastest-growing market and is estimated to grow at high single-digit CAGR from 2022 to 2031 due to an increase in the number of diagnostic procedures related to musculoskeletal (arthroscopy, imaging of spine), gastrointestinal (imaging of the abdomen, GI tract) and obstetrics & gynecology (hysterosalpingography).
Geographically, the market is segmented into North America, Europe, Asia-Pacific and RoW regions where the North America region commanded the largest revenue in 2022 and is expected to grow at mid single-digit CAGR from 2022 to 2031. Technological advancement in equipment increased utilization of fusion imaging and increase in incidence and prevalence of disease conditions requiring the use of diagnostic imaging have led the market growth in this region. However, the Asia-Pacific region is the fastest-growing market and is expected to grow at high single-digit CAGR from 2022 to 2031, due to increased healthcare awareness, improved economic growth, a large patient pool, and a rising aged population.
The Medical imaging agents global market is a competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares and also acquiring companies for product expansion. Some of the key players in the Medical imaging agents global market are GE Company (GE Healthcare) (U.S.), Bayer Group (Germany), Guerbet (France), Bracco Group (Italy), Curium Pharma (France), Cardinal Health (U.S), Lantheus Medical Imaging (U.S.), Sumitomo Chemicals (Japan), Novartis International AG (Advanced accelerator) (Switzerland), Fujifilm Holding Corporation (Japan), Fujipharma Co. Ltd (Japan), Jubilant Life science (India) and Beijing Beilu (China).
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Global North American Nuclear Medicine Market : Global Analysis, Opportunities And Forecast - 2024
[159 Pages Report] The North American nuclear medicine market is expected to reach USD 2.7 billion by 2024 from an estimated USD 2.2 billion in 2019, growing at a CAGR of 4.1% during the forecast period.
The study involved four major activities in estimating the current size for the North American nuclear medicine market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
Market Dynamics
Increasing Incidence and Prevalence of Target Conditions
Alpha Radioimmunotherapy-Based Targeted Cancer Treatment
Initiatives to Lessen the Demand-Supply Gap of Mo-99
The increasing adoption of automated inspection systems in the pharmaceutical and biotechnology industries, growth in the number of product recalls, an increasing number of inspection checkpoints throughout the production line, and technological advancements in inspection systems support the growth of the market.
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Based on type, the market is categorized into diagnostic and therapeutic nuclear medicine. The therapeutic nuclear medicine segment is further segmented into alpha emitters, beta emitters, and brachytherapy isotopes.
The geographical regions mapped in the report are:
1. North America
2. US
3. Canada
Geographically, the North American market comprises of US and Canada. In 2018, the US accounted for the largest share of the nuclear medicine market. The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the country.
Based on application, the North American nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The SPECT applications segment is further segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications. The thyroid applications segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing incidence and prevalence of thyroid disorders.
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Global Nuclear Medicine Market 2021-2030 By Top Key Players
Nuclear medicines are radioactive materials called radiotracers that are injected into the bloodstream, inhaled or swallowed. It is used in diagnosis of various diseases. The radiotracer travels through the area to be examined and the energy released from these radiotracers in the form of gamma rays are detected by a special camera and a computer. Nuclear medicine imaging helps to collect unique information that often cannot be obtained using other imaging techniques and offers the scope to identify disease in its earliest stages. The Nuclear Medicine Market, in terms of revenue, was valued at US$ 4.62 Bn in 2020 and is expected to reach US$ 6.81 Bn by 2030.
Some of the key participants of global nuclear medicine market are Cardinal Health, Inc., Medtronic, Minimally Invasive Therapies, Ion Beam Applications S.A (IBA Worldwide), Lantheus Medical Imaging Inc., General Electric Company, Bracco Imaging S.p.A, Bayer AG, Advanced Medical Isotope Corporation, Alliance Medical Limited, Alseres Pharmaceuticals, Inc., Avid Radiopharmaceuticals, Inc., Actinium Pharmaceuticals, Inc., Immunomedics, Inc., Jubilant Pharma LLC, Mallinckrodt Pharmaceuticals, Medi-Radiopharma Co., Ltd., Peregrine Pharmaceuticals, Inc. and Positron Corporation, Nordion (Canada) Inc. amongst others.
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Nuclear Medicine Market, by Product Type
Global market based on the product type is classified as diagnostic medicine and therapeutic medicine. In the diagnosis, there are two types of imaging techniques which includes, single-photon emission computed tomography (SPECT) and positron emission tomography (PET). These techniques are very helpful in diagnosis of gall bladder disease, thyroid disease, cancer, Alzheimer's disease, heart conditions and brain conditions. The diagnostic medicine held the largest share in global nuclear medicine market and is also anticipated to be the fastest growing market in terms of the CAGR. The growing importance of diagnosis of fatal diseases among people, has driven the diagnostic medicine segment.
Nuclear Medicine Market, by Region
In the global market, North America is expected to be the leading market during the forecast period. The United States has shown substantial growth in the North America region. This growth is mainly attributed to the advancement in technology such as the development of molecular imaging based on the tracer principle, the introduction of new radiopharmaceuticals for diagnosis and therapy and hybrid imaging. The Europe and Asia Pacific areas account for noteworthy shares in the nuclear medicine market.
Competitive Market Share
The report provides both, qualitative and quantitative research of the market, as well as it helps to gain important insights of current and future market and trending technologies adopted by the key players. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as mergers and acquisitions(M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
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Neurodiagnostics Market 2024 Rising Demand | Opportunities, Future Scope, Market Status
7th January 2022 – The global Neurodiagnostics Market is anticipated to reach at USD 18.3 billion by 2024. Neurodiagnostics are also known as “Neurodiagnostic tests”. They diagnose neurological disorders such as migraine, Parkinson’s disease, stroke, ischemic stroke and epilepsy. The factors that propel the growth of the Neurodiagnostics Market include increasing occurrence of neurological disorders such as stroke, growing consciousness among people and technological developments. On the other hand, there are factors that may hamper the growth of the market including lack of mental health checkup & regular diagnosis in emerging countries. Neurodiagnostics industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by product type, end users, technology, and geography. The industry may be explored by product type as intracranial pressure monitor, Electromyography (EMG), Electroencephalogram (EEG), Transcranial Doppler, and Cerebral oximeters. The “Electroencephalogram (EEG)” segment led the Neurodiagnostics Market in 2015 and is anticipated to maintain its dominance by 2024.The key factor that could be attributed to the growth of market includes capacity to efficiently diagnoze epilepsy and the other neurological disorders through non-invasive methods. Neurodiagnostics industry may be explored by technology as neuroimaging technologies that may further include Nuclear Medicine Imaging (SPECT, PET), Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Electroencephalography (EEG), Near Infrared Spectroscopic Imaging (NIRS), Voxel-based Morphometry (VBM), and Magnetoencephalography (MEG) in vitro diagnostics, and neuroinformatic.
The “CT and MRI” segment led the neurodiagnostics industry in 2015 and is anticipated to maintain its dominance by 2024.The factors that could be attributed to the growth of the segment might include increasing adoption in the internal body surgeries. The market could be explored based on end users as hospitals, operation theatres, neurophysiological
laboratories and clinics. North America accounted for the major share of the Neurodiagnostics Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing acceptance of neurodiagnostics technology.
Some of the key players that fuel the growth of the neurodiagnostics industry comprise Alpha Omega Ltd., Bruker, Guerbet, Agilent Technologies, Fonar Corporation, Doric Lenses, Inc., GE Healthcare, Hitachi Medical Corporation, Hologic Inc., Mightex Systems, NeuroNexus Technologies, Neusoft Medical Systems Co., Ltd., Roche Diagnostics, Plexon, Inc., Philips Healthcare, Siemens Healthcare and Toshiba Medical Systems Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Radiopharmaceuticals in Nuclear Medicine Market to Eyewitness Massive Growth by 2027
The Latest Released market study on Global Radiopharmaceuticals in Nuclear Medicine market provides information and useful stats on market structure, size and trends. The report is intended to provide cutting-edge market intelligence and strategic insights to help decision makers take sound investment decisions and identify potential gaps and growth opportunities. Besides, the report also identifies and analyses changing dynamics, emerging trends along with essential drivers, challenges, opportunities and restraints in Radiopharmaceuticals in Nuclear Medicine market.
What’s keeping:
Cardinal Health (United States)
GE Healthcare (United States)
Curium (France)
Lantheus Medical Imaging (United States)
Bayer AG (Germany)
Bracco Imaging (Italy)
Eczacýbaþý-Monrol Nuclear Products (Turkey)
Nordion (Canada)
Advanced Accelerator Applications (France)
NTP Radioisotopes (South Africa)
Keep Growing in the Market? Benchmark yourself with the strategic moves and latest Market Share and Sizing of Global Radiopharmaceuticals in Nuclear Medicine market recently published by AMA
Radiopharmaceuticals are radioactive compounds that have a bound radionuclide in their structure, whose purpose is directing the radionuclide to a location to be treated or to obtain images. Nuclear medications, also known as radiopharmaceuticals, are used to treat lymphoma and bone metastases. Nuclear medicines such as F-18, Tc-99, Ga-67, and I-123 are used in diagnostic operations, while I-131, Ir-192, Y-90, I-125, Lu-177, and Ra-223 are employed in therapeutic procedures. In comparison to chemotherapy, the convenience of treatment using minimally invasive approaches attracts more people to radiopharmaceuticals. The radiopharmaceuticals industry is driven by the rising number of cardiac patients and the development of clear imaging techniques using diagnostic equipment such as PET and SPECT. Supply constraints, logistical challenges, and a scarcity of skilled medical professionals are among the problems limiting the market's growth.
The Radiopharmaceuticals in Nuclear Medicine Market segments and Market Data Break Down 24360
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
What’s Trending in Market: High Demand due to increasing Initiatives to reduce the demand and supply gap of Mo-99
Market Challenges: Hospital budget cuts and high equipment costs
Market Opportunities: Use of radiopharmaceuticals in neurological applications
Highlights of Influencing Drivers: Rising incidence as well as prevalence of target conditions
Huge Development of alpha-radioimmunotherapy-based targeted cancer treatments
Presented By
AMA Research & Media LLP
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