PUNE, INDIA, November 3, 2022 (GLOBE NEWSWIRE) — nuclear medicine market The 2020 size was US$5.04 billion. The market is expected to grow from US$5.57 billion in 2021 to US$1.947 billion by 2028, at a CAGR of 19.6% during the period 2021-2028. This report is provided by Fortune Business Insights™ and is entitled “World Nuclear Medicine, 2021-2028”.
Nuclear medicine is a type of medical imaging that uses radioactive materials to create images of body tissues. These pictures are used for diagnosing and treating diseases. The nuclear medicine market is segmented on the basis of application, product, and region. The application segment is further divided into Imaging and Therapy.
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industrial development
March 2021: Bracco Diagnostics Inc. has announced a collaboration with CardioNavix, LLC to enhance patient access to cardiac PET imaging. This new program, the Bracco Mobile Isotope Service, will enable more patient care sites to offer cardiac PET imaging.
Reporting scope
| report coverage | detail |
| Forecast period | 2021-2028 |
| Forecast period 2021-2028 CAGR | 19.6% |
| 2028 value projection | US$19.47 billion |
| base year | 2020 |
| Market size in 2021 | US$5.57 billion |
| historical data of | 2017-2019 |
| page number | 169 |
report coverage
Our reports are conducted with an in-depth research methodology that is primarily focused on providing accurate material. Our academics have applied data navigation techniques that provide reliable forecasts and further help to pinpoint the American dynamics of nuclear medicine. We obtain registrations with various internationally and locally sponsored registers to provide up-to-date materials so that homes can only invest in operational zones.
competitive environment
Partnerships initiated by key players to drive market growth
Dominant players of the market continuously endorse resourceful strategies to enhance their brand value and drive the growth of the global market for their products while facing unimaginable obstacles. One such effective strategy is to acquire a competitive firm and enhance the interests of both firms involved.
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driving factor
Technological advances in nuclear imaging modalities boosting the market
One of the fundamental aspects of the growth of the nuclear medicine market is the growing awareness of the potential impact of primary and timely diagnosis and positive agitation in long-term disability management and treatment. The development of nuclear imaging techniques, especially PET/PET-CT, has helped expand the application of this modality beyond oncology to cardiology, neurology, and the identification of infectious diseases.
These technological advances have greatly increased the volume of PET and SPECT procedures. Other improvements, such as the development of cadmium zinc telluride (CZT)-based detectors that aid in the simultaneous display of physiological and anatomical structures, are expected to facilitate the adoption of SPECT-CT systems.
segmentation
Based on type, nuclear medicine is divided into diagnostic and therapeutic radiopharmaceuticals. The diagnostic radiopharmaceutical segment is estimated to hold a dominant share of the global market in 2020.
In terms of application, the market America is segmented into neurology, cardiology, oncology and others.
By end-user, the market is segmented into hospitals and clinics, diagnostic centers, and others.
Geographically, the market is branched into North America, Europe, Asia Pacific, and the rest of the world.
segment–
| segmentation | By type
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by application
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by geography
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Regional Insight
North America Leads, Supported by Increased Use of Therapeutic Radiopharmaceuticals
North America is expected to generate a revenue of US$2.57 billion in 2020 and maintain its dominance during the forecast period. Rapid adoption of pooled surgical nuclear imaging techniques with increasing utilization of technically sound and proficient therapeutic radiopharmaceuticals across the region is expected to boost the growth of the nuclear medicine market.
Europe is estimated to hold the second highest nuclear medicine market share in America due to its advanced radiopharmaceutical adoption and current product launches by prominent players.
Asia Pacific is projected to expand at a significant CAGR during the forecast period.
Impact of COVID-19
COVID-19 Pandemic Hampered Market Revenue Due to Declining Diagnostic Process
The COVID-19 pandemic had a negative impact on the market in 2020. Concerns such as labor and staff shortages, the threat of COVID-19 infection, and deteriorating image processing processes such as PET-CT SPECT procedures are expected to drive market growth in 2020. The reduction in procedures can be attributed to supply chain disruptions, logistical challenges, and the adoption of safety measures that are difficult to maintain by centers.
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List of major players covered in the report
- Lantheus Medical Imaging, Inc. (USA)
- Cardinal Health (United States)
- Norgine BV (Netherlands)
- Nordion (Canada) Inc. (Canada)
- Bayer AG (Germany)
- Curium (France)
- Advanced Accelerator Applications (Novartis AG) (France)
- Bracco Diagnostic Inc. (USA)
- Jubilant Pharmova Limited (India)
- GE Healthcare (General Electric Company) (U.S.)
Main points of the table of contents:
- prologue
- Market range
- market segmentation
- research method
- definitions and assumptions
- executive summary
- market dynamics
- market driver
- market constraints
- market opportunity
- Market trend
- key insight
- Installed Base of PET/PET-CT Scanners – Select Countries, 2015 and 2019
- Gamma Camera Installed Base – Selected Countries, 2019
- PET/PET-CT treatment volumes – selected countries, 2019
- Redemption scenarios – for major countries
- New product launch
- major industry developments
- Pipeline analysis
- Market Impact of COVID-19
- Global Nuclear Medicine Market Analysis, Insights and Forecasts, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Type
- diagnose
- PET Radiopharmaceutical
- FDG-PET/18F
- 68Ga
- 68Cu
- 11C
- others
- SPECT radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- others
- PET Radiopharmaceutical
- Therapeutics
- diagnose
- Market Analysis, Insights & Forecasts – By Application
- neurology
- cardiology
- oncology
- others
- Market Analysis, Insights & Forecasts – By End User
- hospitals and clinics
- diagnostic center
- others
- Market Analysis, Insights & Forecasts – By Region
- North America
- Europe
- Asia Pacific
- rest of the world
- North America Nuclear Medicine Market Analysis, Insights and Forecasts, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Type
- diagnose
- PET Radiopharmaceutical
- FDG-PET/18F
- 68Ga
- 68Cu
- 11C
- others
- SPECT radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- others
- PET Radiopharmaceutical
- Therapeutics
- diagnose
- Market Analysis, Insights & Forecasts – By Application
- neurology
- cardiology
- oncology
- others
- Market Analysis, Insights & Forecasts – By End User
- hospitals and clinics
- diagnostic center
- others
- Market Analysis, Insights & Forecasts – By Country
- European Nuclear Medicine Market Analysis, Insights and Forecasts, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Type
- diagnose
- PET Radiopharmaceutical
- FDG-PET/18F
- 68Ga
- 68Cu
- 11C
- others
- SPECT radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- others
- PET Radiopharmaceutical
- Therapeutics
- diagnose
- Market Analysis, Insights & Forecasts – By Application
- neurology
- cardiology
- oncology
- others
- Market Analysis, Insights & Forecasts – By End User
- hospitals and clinics
- diagnostic center
- others
- Market Analysis, Insights & Forecasts – By Country/Sub-Region
- England
- Germany
- France
- Spain
- Italy
- scandinavia
- rest of europe
continuation…
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