DUBLIN, Dec. 31, 2021 /PRNewswire/ — The “Global Nuclear Medicine Market, By Type, By Diagnostic Nuclear Medicine, By Therapeutic Nuclear Medicine, By Application, By Diagnostic Applications, By Therapeutic Applications, By End User, By Region, Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.
Global nuclear medicine market is estimated to grow at an impressive rate during the forecast period owing to increasing incidence and prevalence of diseases like cancer, initiatives to reduce the demand and supply gap of Mo-99 and increasing research and development activities in radiotherapy to treat various diseases.
Furthermore, nuclear medicines are extensively being used in molecular imaging, which is a technique involving molecules as biomarkers for specific molecular processes that determines the onset or progress of a disease.
Nuclear medicines are convenient and safer alternative for patients as compared to X-Rays and other external radiation imaging devices. Due to this major factor, chemotherapy methods are being replaced by radiopharmaceuticals or nuclear medicines for cancer treatment. They are also used in applications such as lymphoma and bone metastasis.
Some of the nuclear medicines used in diagnostic procedures are F-18, Tc-99, Ga-67, and I-123 while I-131, Ir-192, Y-90, I-125, Lu-177, and Ra-223 are used in therapeutics procedures. These factors are anticipated to drive global nuclear medicine market until 2026.
Apart from above mentioned growth factors, the global nuclear medicine market also faces some restrains. Short half-life of nuclear medicines or radiopharmaceuticals reduces their potential adoption. Other restraining factors include supply shortages, logistical difficulties, and limited number of trained medical personnel.
The global nuclear medicine market is segmented based on therapy, type, application, therapeutics, route of administration, end-user and region. Based on type, the nuclear medicine market is segmented into Diagnostic Nuclear Medicine, Therapeutic Nuclear Medicine, Brachytherapy Isotopes.
Diagnostic Nuclear Medicine can further be split into SPECT Radiopharmaceuticals and PET Radiopharmaceuticals. The SPECT Radiopharmaceuticals segment accounts for the largest market share and is expected to hold its dominance in the coming years owing to low cost and wide usage in different applications.
Major players operating in the global nuclear medicine market include Cardinal Health, Inc., GE Healthcare, Curium SAS, Lantheus Medical Imaging, Inc., Bayer AG, Bracco Imaging S.p.A., Nordion Inc., Novartis AG (Advanced Accelerator Applications SA), Isotopia Molecular Imaging Limited, NorthStar Medical Radioisotopes, LLC and others.
Key market players are implementing activities like product developments, business expansion, and collaborative development to maintain significant share in the market for nuclear medicine.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Global Nuclear Medicine Market, By Type:
- Diagnostic Nuclear Medicine
- SPECT Radiopharmaceuticals
- PET Radiopharmaceuticals
- Therapeutic Nuclear Medicine
- Alpha Emitters
- Beta Emitters
- Brachytherapy Isotopes
Global Nuclear Medicine Market, By Application:
- Diagnostic Applications
- SPECT Applications
- PET Applications
- Therapeutic Applications
- Thyroid Indications
- Bone Metastasis