Nuclear Medicine Market Size to Reach $24.20 Billion by 2030, Driven by Increasing Prevalence of Cancer and Rising Demand for Personalized Medicine

The global nuclear medicine market is projected to reach USD 24.20 billion by 2030, according to a new report by SNS Insider. The market is expected to grow at a CAGR of 12.8% from 2023 to 2030, driven by the increasing prevalence of cancer, the rising demand for personalized medicine, and the growing adoption of nuclear medicine procedures in emerging markets.

Nuclear medicine is a branch of medicine that uses radioactive isotopes to diagnose and treat diseases. Nuclear medicine procedures are used to image the body and to deliver targeted therapy to tumors.

Competitive Landscape
The global nuclear medicine market is highly competitive. The key players in the market include Advanced Accelerators Applications, Bayer, Curium, Bracco Imaging, Cardinal Health, Jubliant Lifesciences, GE Healthcare, Medtronic plc, Lantheus Medical Imaging, Mallinckrodt Pharmaceuticals, and Nordion Inc. and other players. These players are focusing on developing innovative nuclear medicine products and services, expanding their geographic reach, and acquiring smaller players to gain a competitive edge.

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Market Segmentation
The global nuclear medicine market is segmented by Product Type, Application, Modality Type and Regions. The radiopharmaceuticals segment is expected to be the largest segment of the market during the forecast period. This is due to the increasing demand for radiopharmaceuticals for cancer diagnosis and therapy.

Nuclear Medicine Market Segmentation as Follows:

By Product Type
Diagnostic products
Therapeutic Products

By Application Type
Cardiology
Neurology
Oncology
Thyroid
Lymphoma
Bone Metastasis
Endocrine Tumor

By Modality Type
SPECT
PET
Alpha-emitters
Beta-emitters
Brachytherapy

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Key Drivers:
The increasing prevalence of cancer is one of the key drivers of the global nuclear medicine market. Cancer is a leading cause of death worldwide, and the incidence of cancer is expected to rise in the coming years. Nuclear medicine procedures can be used to diagnose cancer, to stage cancer, and to monitor the response to cancer treatment.

The rising demand for personalized medicine is another driver of the global nuclear medicine market. Personalized medicine is a type of medicine that takes into account a patient's individual genetic makeup and other factors to tailor treatment to the individual patient. Nuclear medicine procedures can be used to identify genetic mutations that are associated with cancer, and to target therapy to tumors that have specific genetic mutations.

The growing adoption of nuclear medicine procedures in emerging markets is also driving the global nuclear medicine market. Emerging markets such as China, India, and Brazil are experiencing rapid economic growth, and there is a growing demand for healthcare services in these markets. Nuclear medicine procedures are becoming more affordable in these markets, and there is a growing awareness of the benefits of nuclear medicine.

Regional Analysis
The North America region is expected to be the largest market for nuclear medicine during the forecast period. This is due to the early adoption of nuclear medicine procedures in the region, the high prevalence of cancer, and the availability of funding for nuclear medicine research and development.

Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Market Dynamics
Chapter 4. Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter's 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Nuclear Medicine Market Segmentation, By Product Type
Chapter 9 Nuclear Medicine Market Segmentation, By Application Type
Chapter 10 Nuclear Medicine Market Segmentation, By Modality Type
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion

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This release was published on openPR.