Radio Pharmaceuticals Market to Witness High Growth in near future: Kimberly-Clark Corporation, Eli Lilly and Company, Lantheus Medical Imaging Inc., Ampio Pharmaceuticals Inc., GE Healthcare

Growth of the radiopharmaceuticals market is projected to witness rapid traction in the near future due to its high potential in diagnosis and detection of diseases related to cardiology, neurology, and oncology. Developed regions are expected to be highly lucrative markets for this technology, due to the high capital investment involved and availability of advanced medical facilities in these regions. Major players in the global Positron Emission Tomography (PET) scanners market are concentrating on enhancing their global and regional presence through strategic operational expansion and collaborations with regional players.

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There are over 40 radioisotopes available for use in different therapies. Technetium-99m is the most widely used radioisotope in the diagnostic procedures. Technetium-99m is used as a radioactive tracer, and can be detected in the body by medical equipment (gamma cameras). It is well suited to the role, as it emits readily detectable gamma rays with photon energy of 140 keV. According to International Atomic Energy Agency, over 80% of the total nuclear diagnostic procedures performed worldwide use Technetium-99 as a radiotracer each year and hence, propels the radiopharmaceuticals market growth.

End users of radiopharmaceuticals include hospitals, research institutes, and diagnostic labs. These can be used in hospitals for diagnosis and detection of various diseases such as bone-related pathology, bone pain, stress fracture, bone infections, and spread of cancer in the bone. They are also used in detection and scanning such as in neurology and cardiology.

Application of Radiopharmaceuticals across the Globe

Radiopharmaceuticals are widely used in North America, mainly due to availability of advanced healthcare infrastructure, technological advancements, superior medical facilities, and supportive government support. These are also widely used in Europe due to new procedures for diagnosis of diseases and robust medical infrastructure in the region. Radiopharmaceuticals market is projected to witness rampant growth in Asia due to rapid rise in research work in the sector and rising public awareness.

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Key players involved in Nuclear Medicine market

The market is fragmented, with the presence of various major players such as Kimberly-Clark Corporation, Eli Lilly and Company, Lantheus Medical Imaging Inc., Ampio Pharmaceuticals Inc., GE Healthcare, Piramal Imaging, Covidien Plc., Cardinal Health, Iso Tex Diagnostics, Inc., Jubilant DraxImage Inc., Bayer HealthCare Pharmaceuticals Inc., Bracco Diagnostic Inc., Navidea Biopharmaceuticals, Nordion Inc., Spectrum Pharmaceuticals, Inc., Mallinckrodt Plc., Bio-Nucleonics Inc., and IBA-Molecular.

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