Nuclear Medicine Market Analysis by Top Manufacturers - General Electric Co., Bayer AG, Lantheus Medical Imaging, Inc., Medtronic, Inc.
Global Nuclear Medicine Market Size, Status And Outlook 2021-2027The Nuclear Medicine Market report is a collection of useful information, quantitative and qualitative estimation by industry experts, the contribution from industry connoisseurs, and industry accomplices across the value chain. Furthermore, the report also provides the qualitative results of diverse market factors on its geographies and segments. This report on the Nuclear Medicine market gives historical, current, and future market sizes (US$ Mn) of product types, applications, route of administration, distribution channels, and geographic regions.
The nuclear Medicine Market was valued at USD 4.20 Billion in 2019 and is projected to reach USD 6.07 Billion by 2027, growing at a CAGR of 4.8% from 2020 to 2027.
Overview: Nuclear medicine basically deals with the use of radioactive substances in research, diagnosis, and treatment. Increasing incidences of cancer and cardiac ailments are the major drivers for the market studied. Nuclear medicine shows a huge potential in treating cardiac and cancer diseases. According to the National Cancer Institute (NCI) report, it was estimated that 1,735,350 new cases of cancer are diagnosed in the United States in 2018, where an increasing adoption of nuclear medicine. Other factors, such as increasing SPECT and PET applications and growing public awareness for healthcare, are expected to drive the market in the future. Regulatory requirements pose another hurdle to translational research and clinical investigations.
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The major players dominating the consulting market are General Electric Co., Bayer AG, Lantheus Medical Imaging, Inc., Medtronic, Inc., and Cardinal Health Inc. These companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
Key Market Trends
Diagnostics Segment is Expected to Show Better Growth in the Forecast Period.
The diagnostics segment is segmented into SPECT and PET. PET imaging radioisotopes have many applications in clinical neurology, which involve movement disorders, epilepsy, brain tumors, dementia, stroke, and neuronal plasticity. Future applications include early diagnosis of brain metastases, Parkinson syndromes, and neurodegenerative disorders, such as Alzheimer's disease. The market for radioisotopes is expected to be larger in the developing countries because of the increasing awareness among people about radioisotopes, increasing the incidence of chronic diseases, like cancer, and cardiovascular diseases.
North America is Expected to Dominate the Nuclear Medicine Market Over the Forecast Period
North America is the dominant market for nuclear medicine. Within North America, the United States is the largest consumer market for radioisotopes, and Canada is the largest producer of Tc-99m. The United States was the largest contributor to the North American region, in terms of revenue, and it is expected to retain its dominance, owing to the higher procedural volume and increasing adoption of nuclear medicine for various therapeutic applications.
Global Nuclear Medicine Market Split By Product Type And Applications:
By Type
Diagnostic
Therapeutic
By Modality
SPECT
PET
Alpha-emitters
Beta-emitters
Brachytherapy
By Application
Oncology
Cardiology
Neurology
Thyroid
Others
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Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Nuclear Medicine Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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