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Nuclear Medicine/Radiopharmaceuticals Market Worth USD 5.2 Billion by 2024 - Leading Companies are Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol N

12-11-2020 06:45 AM CET | Health & Medicine

Press release from: MarketsandMarkets

Nuclear Medicine/Radiopharmaceuticals Market Worth USD 5.2

According to the new market research report "Nuclear Medicine Market by Type (Diagnostic (SPECT - Technetium, PET- F-18), Therapeutic (Beta Emitters – I-131, Alpha Emitters, Brachytherapy – Y-90)), Application (Oncology, Cardiology) - Global Forecast to 2024", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America (US & Canada), Europe (Germany, France, UK, Italy, Spain, and RoE), APAC(Japan, China, and RoAPAC), and RoW (Latin America, Middle East, and Africa).

The Nuclear Medicine Market is expected to reach USD 5.2 billion by 2024 from an estimated USD 4.1 billion in 2019, at a CAGR of 4.7%.

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The key factors driving the growth of this Radiopharmaceuticals Market are increasing incidence & prevalence of cancer & cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99.

By type, the SPECT radiopharmaceuticals segment is expected to account for the largest share of the diagnostic market in 2019

Based on type, the market is categorized into diagnostic and therapeutic nuclear medicine. The diagnostic nuclear medicine segment is further categorized into SPECT and PET radiopharmaceuticals. The SPECT radiopharmaceuticals segment is expected to account for the largest share of the market in 2019. However, the PET radiopharmaceutical segment is projected to register the highest CAGR during the forecast period. Although PET is more expensive than SPECT, advances in PET imaging and the introduction of new PET radiotracers are supporting its growth in the market.

In 2019, the cardiology segment is expected to dominate the SPECT applications market

On the basis of type, the SPECT applications market is segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications. In 2019, the cardiology segment is expected to dominate the SPECT applications market. With the rising incidence and mortality rate of CVD, the demand for nuclear medicine in cardiology diagnostic applications is expected to increase during the forecast period.

Browse in-depth TOC on "Nuclear Medicine Market"
306 – Tables
24 – Figures
191 – Pages
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By procedural volume assessment, the diagnostic procedures segment is expected to account for the largest share of the market in 2019

Based on procedural volume assessment, the Nuclear Medicine Market is segmented into diagnostic and therapeutic procedures. Diagnostic procedures account for the larger share, as diagnostic radioisotopes find wider demand and use as compared to therapeutic radioisotopes. Since the introduction of nuclear medicine, SPECT diagnosis has been preferred over other radiopharmaceutical procedures. Due to looming uncertainties in the production of reactor-based Mo-99, the Radiopharmaceuticals Market is witnessing a shift toward PET procedures. Other major factors responsible for this trend are advancements in radiotracers for PET and the advent of hybrid imaging systems such as PET-CT and PET-MRI.

North America to dominate the market in 2019

North America, Europe, the Asia Pacific, and the Rest of the World (RoW) are the regions considered for geographic analysis of the global Nuclear Medicine Market study. North America is expected to account for the largest share of the global nuclear medicine industry. The growth of the market in North America can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the region.

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Key Players

The prominent players in the global market include Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), NTP Radioisotopes (South Africa), JSC Isotope (Russia), NorthStar Medical Radioisotopes (US), Eckert & Ziegler (Germany), Jubilant DraxImage (Canada), PharmaLogic (US), Institute of Isotopes Co., Ltd. (Hungary), Sinotau Pharmaceuticals (China), Isotopia Molecular Imaging Limited (Israel), SHINE Medical Technologies (US), and Global Medical Solutions (US).

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Email: sales@marketsandmarkets.com

About MarketsandMarkets
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's™ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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