Nuclear Medicine Market is Projected to Reach CAGR of 9.0% by 2026 | Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy)

The report "Nuclear Medicine Market Size, Growth by Type (Diagnostic (SPECT - Technetium, PET - F-18), Therapeutic (Beta Emitters - I-131, Alpha Emitters, Brachytherapy - Y-90)), Application (Oncology,Cardiology), Procedures - Global Forecast to 2026 is projected to reach USD 7.5 billion by 2026, at a CAGR of 9.0%.

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The nuclear medicine market is projected to reach USD 7.5 billion by 2026 from USD 4.8 billion in 2021, at a CAGR of 9.0% during the forecast period.

Key Players in Nuclear Medicine Market / Radiopharmaceuticals Market:

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), and
NTP Radioisotopes (South Africa)

The Growth in the Radiopharmaceuticals Market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer and cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99. However, the short half-life of radiopharmaceuticals reduces their potential adoption, while hospital budget cuts and high equipment prices are expected to limit market growth to a certain extent.

In this report, the nuclear medicine market has been segmented based on type, application, procedure volume and region.

Based on type, the nuclear medicine market is categorized into diagnostic and therapeutic nuclear medicine. The therapeutic nuclear medicine segment is further segmented into alpha emitters, beta emitters, and brachytherapy isotopes. The diagnostic nuclear medicine segment is segmented into SPECT and PET.
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Based on application, the nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The SPECT applications is further segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications. The thyroid applications segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing incidence and prevalence of thyroid disorders.

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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.

Geographical Growth Scenario:

Based, on region, the nuclear medicine market is segmented into- north America, Europe, the Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the Radiopharmaceuticals Market. The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and initiatives by market players in this region.

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