Brooklyn, New York, USA, 2021-Apr-07 — /Meridian Market Consultants/ — The prime objective of the market report is to provide a synopsis of the theoretical structure and rational approach of the Nuclear Medicine Market, which additionally comprises the future market potential and in-depth knowledge of the statistics implicated in the development of the respective market. The Nuclear Medicine Market is estimated to elevate at a substantial rate in the foreseeable future. The base year considered for the study is 2019, and the market size is projected from 2020 to 2028. The comprehensive market knowledge approach even outs the criterion of the assessment findings that offers greater opportunities for the customers to put their best efforts.
The global Nuclear Medicine Market in 2020 is estimated for more than US$ 4.3 Bn and expected to reach a value of US$ 6.3 Bn by 2028 with a significant CAGR of 4.8%.
Nuclear medicine also known as radiopharmaceutical in which radioactive isotopes are used for the diagnosis and therapy for variety of diseases, such as cancer, heart diseases, gastrointestinal, endocrine, neurological disorders. Nuclear medicines are non-invasive in nature and contain specialty that includes the usage of radioactive isotopes in the diagnosis and in treatment of various diseases.
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Global nuclear medicine market is mainly dominated by:
Siemens AG
Eckert & Ziegler
Lantheus Holdings, Inc.
Cardinal Health
Bayer AG
Bracco Imaging S.P.A.
Nordian Inc.
Advanced Accelerator Applications
Mallinckrodt plc.
In 2017, the Siemens AG is accounted as the most dominating player in the global nuclear medicine market by holding more than 40% of the global nuclear medicine market followed by GE healthcare and Mallinckrodt PLC
The global nuclear medicine market is segmented on the basis of application, radioisotope, source, end user, and by region.
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On the basis of application segment, the global nuclear medicine market is segmented into:
Oncology
Cardiology
Gastroenterology
Neuroendocrinology
Neurology
Nephrology
Others
In 2018, the oncology application segment is accounted to have the largest market share in terms of value and expected to remain to dominate throughout the forecast period (2019-2027).
Evolution towards centralized pharmacies, widespread availability of the SPECT and PET scanning machines, the growing interest of investors of conventional pharmaceutical industries in the therapeutic area, increasing incidence of cancer and cardiovascular diseases are some of the factors that will drive the growth of the nuclear medicine market during the forecast period
There has been a growing interest in the development of tracers for therapeutic indications during recent years. The increasing number of manufacturers and research organizations are focusing on introducing novel therapeutic radiopharmaceuticals in the market. For instance, in March 2016, Isotopen Technologien München (ITM) raised US$ 20.8 million to fund the clinical development of its promising proprietary pipeline of Targeted Radionuclide Therapies. Also, in May 2016, Clarity Pharmaceuticals, an early stage Australian company, was granted US$ 0.7 million by Federal Government’s in order to fast track the Phase IIa clinical trial of Cu-64 SARTATE, a neuroendocrine tumor imaging radiopharmaceutical.
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On the basis of region, the global nuclear medicine market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America nuclear medicine market is expected to be the most dominating market throughout the forecast period. Availability of key players and increasing healthcare expenditure in the region are some of the revenue boosting factors.
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