Press release
Nuclear Medicine Market was valued at USD 6.30 billion, and it is projected to witness remarkable growth, with an expected CAGR of 14.7% from 2023 to 2029, reaching an estimated value of nearly USD 16.47 billion.
Nuclear Medicine Market
Maximize Market Research Pvt. Ltd., a leading market research company based in Pune, India, has released an extensive market research report on the Nuclear Medicine industry, offering invaluable insights into the market's current status and future prospects.
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The wider adoption of nuclear medicines has prompted governments to establish agreements with market leaders, such as Rosatom, to bridge the gap in patient-centered infrastructure for specialized care. Such agreements are crucial in addressing critical healthcare needs and saving millions of lives.
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What are Nuclear Medicine Market Dynamics?
Nuclear Medicine Imaging has revolutionized disease diagnosis and staging, particularly in complex conditions like cardiovascular disease and cancer. The growing incidence and prevalence of cardiovascular disease (CVD) and cancer are significant drivers of market growth. Early detection and treatment are crucial in combating these diseases. According to the World Health Organization (WHO), cancer caused 10 million deaths in 2020, with an estimated 19.3 million new cases expected annually by 2025. Similarly, CVD claimed 17.9 million lives in 2019, comprising 32% of all fatalities. By 2030, this number is projected to rise to 23.3 million. This surge in disease incidence is expected to fuel the growth of the nuclear medicine market.
Radioisotopes are widely employed in hospitals for the diagnosis and treatment of various serious disorders, contributing to market growth. The adoption of innovative cancer treatments resulting from increased research and development efforts is another significant factor driving market expansion. Nuclear medicine procedures, including diagnostic techniques and radiopharmaceutical-based therapies, are boosting market growth.
However, the market may face challenges due to the growing use of alternative diagnostic methods like MRI and CT scans for the identification of diseases. These alternatives are more cost-effective and have gained popularity, especially in low-income countries. Various reimbursement schemes for alternative methods may further hinder the expansion of the Nuclear Medicine Market.
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What is Nuclear Medicine Market Regional Insight?
North America led the Nuclear Medicine Market in 2022, accounting for a substantial market share of 45.2%. The region is expected to continue its rapid expansion, driven by a high volume of nuclear medicine treatments, a robust healthcare infrastructure, and increased investments in research and development activities. For example, Eckert & Ziegler's plans to build a cGMP facility in Boston, United States, for the production of radiopharmaceuticals are aimed at meeting the rising demand for radionuclides, supporting the region's market growth.
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What is Nuclear Medicine Market Segmentation?
by Product Type
• Diagnostic Radiotherapeutics
• Therapeutic Radiotherapeutics
by Application
• Neurology
• Oncology
• Cardiology
• Others
by End-User
• Hospitals
• Clinical Laboratories
• Diagnostic Centers
• Others
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Who are Nuclear Medicine Market Key Players?
• Cardinal Health Inc (US)
• GE HealthCare Technologies Inc (US)
• Jubliant Lifesciences (US)
• Lantheus Medical Imaging Inc. (US)
• Biodex Medical Systems, Inc. (US)
• Standard Imaging Inc. (US)
• Digirad Corporation (US)
• CMR Naviscan (US)
• Nordion Inc. (Canada)
• Bayer AG (Germany)
• Siemens Healthineers (Germany)
• SurgicEye GmbH (Germany)
• Curium (France)
• Advanced Accelerator Applications (France)
• Mallinckrodt Pharmaceuticals (UK)
• Bartec Technologies Ltd. (UK)
• Norgine B.V. (Netherland)
• Medtronic plc (Ireland)
• DDD-Diagnostic A/S (Denmark)
• Mediso Ltd. (Hungary)
• Neusoft Corporation (China)
• Canon Medical Systems Corporation (Japan)
• FUJIFILM Holdings Corporation (Japan)
• Cyclopharm (Australia)
• Bozlu Holding A.Ş (Turkey)
Table of content for the Nuclear Medicine Market includes:
Nuclear Medicine Market: Research Methodology
Nuclear Medicine Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Nuclear Medicine Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment |
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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