Press release
Global Nuclear Medicine Market Size (2021 - 2028) Value Will Reach to USD 12.17 Billion By 2028, at 9.0% CAGR Growth: Polaris Market Research
What is Pharmaceutical Nuclear Medicines? How Big is Nuclear Medicine Market?
Report Overview
Nuclear medicine refers to a specialized medical which uses radioactive materials or radiopharmaceuticals to examine bodily functions and to identify and treat various types of diseases. Technology advanced cameras allow doctors to track the path of these radioactive tracers. The device is a combination of many different disciplines methods including chemistry, physics, mathematics, computer technology, and medicine. This branch of radiology is often used to treat diseases, such as cardiac disease, neurological disorders, and cancer.
Physicians are using the more convenient therapeutic radiopharmaceuticals instead of the conventional chemotherapy methods for treating oncology and cancer, which is expected to offer new opportunities in the nuclear medicine market. Doctors find this radiology a convenient and safer alternative for patients as compared to X-Rays and other external radiation imaging devices. The rising number of cancer cases and increasing awareness about nuclear medicine are driving the global nuclear medicine market growth.
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Industry Developments:
1. In September 2021, Medtronic plc, a global healthcare technology leader, announced the latest additions to its minimally invasive spine surgery ecosystem, making it the only company to combine spinal implants, biologics, navigation, robotics, and AI-powered data for surgeons and patients.
2. In June 2021, Curium unveiled the acquisition of Austrian-based pharmaceuticals firm IASON to increase its footprint in Europe.
3. In March 2021, Bracco Diagnostics Inc. announced a partnership with CardioNavix, LLC to enhance the patient experience of the novel cardiac PET imaging system.
Top Global Market Players Are:
Bracco Imaging S.P.A.
Lantheus Medical Imaging Inc.
NTP Radioisotopes Soc LTD
Eckert & Ziegler Group
Jubilant Pharma LLC
Australian Nuclear Science & Technology Organization
Cardinal Health
Isotopia Molecular Imaging Limited
Bayer AG
The Institute for Radioelements
Curium SAS
Advanced Accelerator Applications
Nordion Inc.
Mallinckrodt
GE Healthcare
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Nuclear Medicine Market: Growth Driving Factors
The increasing constancy and prevalence of cancer and cardiovascular disease (CVD) is driving the market growth. The rising demand for therapeutic nuclear medicine is anticipated to increase over the forecast period, thus contributing to the market growth. The demand for radiopharmaceuticals is expected to rise during the predicted period owing to its growing application sectors. Also, the increasing need to deliver effective healthcare services, the rising elderly population, rising cases of chronic diseases, and the need to deliver better patient experience are expected to boost the nuclear medicine market growth. In addition, the growing prevalence of leading market players across developing economies will support the market growth.
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Nuclear Medicine Market: Segmentation
Based on type, the market is categorized into diagnostic, therapeutic, and others. The diagnostic segment accounted for the largest market share in the global nuclear medicine market in 2019.
On the basis of modality, the market is segmented into Beta-emitters, PET, SPECT, Alpha-emitters, brachytherapy, and others. SPECT segment led the nuclear medicine market in 2019 due to its low cost and large use in a variety of segments.
On the basis of application, the market is characterized into the thyroid, cardiology, bone metastasis, oncology, neurology, gastroenterology, immunology, and others. The cardiology market segment generated the largest share of the nuclear medicine market and is anticipated to grow at the highest CAGR over the forecast period.
Based on the end-use outlook, the market is segmented into hospitals, clinics & diagnostic centers, research institutes, and others.
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Geographic Overview: Nuclear Medicine Market
Based on geography, North America dominated the global nuclear medicine market in 2020 due to the rising elderly population, increasing research and development activities, favorable guidelines about the use of medical isotopes, and the technological developments are accelerating the market growth in the region. Moreover, the Asia Pacific region is expected to grow at a faster pace owing to increased awareness about nuclear medicine therapies and growing investment in the nuclear medicine space. Rising cases of chronic diseases, increasing health consciousness, well established healthcare infrastructure, rising awareness about preventive healthcare, and early diagnosis of diseases are additional factors contributing to the demand for nuclear medicine in the region.
Browse the Detail Report "Nuclear Medicine Market Share, Size, Trends, Industry Analysis Report, By Type (Diagnostic, Therapeutic, Others); By Modality (Beta-emitters, PET, SPECT, Alpha-emitters, Brachytherapy, Others); By Application; By End-Use; By Regions; Segment Forecast, 2021 - 2028" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/nuclear-medicine-market
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Nuclear Medicine Market: By Type Outlook
Diagnostic
Therapeutic
Others
Nuclear Medicine Market: By Modality Outlook
Beta-emitters
PET
SPECT
Alpha-emitters
Brachytherapy
Others
Nuclear Medicine Market: By Application Outlook
Thyroid
Cardiology
Bone Metastasis
Oncology
Neurology
Gastroenterology
Immunology
Others
Nuclear Medicine Market: By End-Use Outlook
Hospitals
Clinics & Diagnostic Centers
Research institutes
Others
Frequently Asked Questions About the Market:
1. What is the global nuclear medicine market size at the global level?
2. What are the recent developments and government policies?
3. What are the top trends in the market?
4. What is the growth rate of the global nuclear medicine market?
5. Which Is the most potential market segment?
Which are the top industry players in the nuclear medicine market?
6. Which region would offer high growth for vendors in the global nuclear medicine market?
7. How will the market dynamics change because of the impact of future opportunities, restraints, and drivers?
8. What is the impact of the regulations on the growth of the business?
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About Us:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.
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