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Nuclear Medicine Market to Reach Valuation of $8.20 Billion by 2022 | Mallinckrodt plc., General Electric Co

10-05-2020 02:02 PM CET | Health & Medicine

Press release from: Allied Market Research

Nuclear Medicine Market

Nuclear Medicine Market

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The research report published by Allied Market Report states that the global radiopharmaceuticals market is estimated to reach $8,207.5 million by 2022. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.

The global radiopharmaceuticals market is poised to grow at a significant pace, owing to growing demand for non-invasive techniques, availability of effective cancer treatment, and ability to observe the functioning of the organ from outside the body.

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Furthermore, increasing incidence of cancer & cardiovascular aliments, growing demand for alpha radio immunotherapy-based targeted cancer treatment, mounting call for nuclear imaging techniques, and advancements in radiotracers are expected to open new avenues in the radiopharmaceuticals market. Factors that are expected to drive the use of radiopharmaceuticals include changing lifestyle, elevated levels of stress, and ability to identify various diseases sooner than other diagnostic tests. However, factors such as supply volatility & logistical challenges, stringent regulatory vigil, and competition from conventional diagnostic procedures are anticipated to impede the market growth.

The oncology segment contributed more than half of the market share in the overall radiopharmaceuticals market in 2015 and is expected to continue the same trend owing to perpetual rise in the number of cancer cases. The SPECT modality segment dominated the radiopharmaceuticals market in 2015, whereas the PET modality segment is anticipated to grow at a comparatively higher CAGR of 8.3% from 2016 to 2022. PET segment is driven by better quality of image and higher precision in diagnosis. Other reasons attributed to its sustained dominance are growing R&D activities especially in developing economies and widening scope of radiopharmaceutical applications such as thyroid, oncology, and bone pain palliation.

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The Asia-Pacific radiopharmaceuticals market is expected to offer lucrative growth opportunities during the forecast period owing to aging population and increasing cancer incidences. The leading Asia-Pacific countries, such as China, Japan, and Australia would exhibit a steady growth rate.

The Major Key Players Are:

• Mallinckrodt plc.
• General Electric
• Medtronic Inc.
• Bayer AG
• Cardinal Health Inc.
• Lantheus Medical Imaging, Inc.
• IBA Group
• Bracco Imaging S.p.A.
• NTP Radioisotopes SOC Ltd.

Key findings of Radiopharmaceuticals Market:

• Therapeutics segment is projected to be the fastest growing segment in the radiopharmaceuticals market, registering a CAGR of 16.9% from 2016 to 2022.
• SPECT modality segment is expected to dominate the radiopharmaceuticals market in 2015 and expected to retain its position throughout the study period.
• Thyroid application segment is expected to exhibit double-digit CAGR of 11%.
• Oncology application segment is expected to continue to lead the radiopharmaceuticals market, accounting for close to 60% share by 2022.
• Asia-Pacific is projected to be the fastest growing radiopharmaceuticals market, registering a CAGR of 8.4%.

Access Full Report @ https://www.alliedmarketresearch.com/nuclear-medicine-radiopharmaceuticals-market

Contact:

David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
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Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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