Press release
Nuclear Medicine Market is expected to grow by 14.7 % from 2023 to 2029
Nuclear Medicine Market
Nuclear Medicine is a specialized field within medicine that utilizes radioactive tracers to evaluate bodily functions, diagnose, and treat diseases. Diagnostic nuclear medicine heavily relies on imaging techniques that measure cellular functions and physiology. It proves to be an excellent choice for physicians at the forefront of medical advancements, offering a wide range of available radioisotopes with diverse energy emission levels and longer half-lives. The use of short-lived radioactive isotopes in nuclear medicine releases minimal radiation, detected by a gamma camera and processed by a computer to generate images of anatomical structures, aiding in the assessment of organ functions such as kidneys, hearts, bones, and thyroid.
These nuclear medicines primarily study both anatomic and metabolic functions. Various technologies are employed in conducting scans within the nuclear medicine department of hospitals. The emerging IMAGINE database sets a trend in the global nuclear medicine landscape, providing detailed information on the availability of medical imaging and nuclear medicine equipment, as well as human resources for both modalities across 170 countries and territories.
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What are Nuclear Medicine Market Dynamics?
The field of Nuclear Medicine Imaging plays a crucial role in accurately diagnosing and staging complex diseases such as cardiovascular disease and cancer, while also monitoring disease progression and treatment response. The rising incidence and prevalence of cardiovascular disease (CVD) and cancer serve as significant drivers for the growth of the Nuclear Medicine market. Given the importance of early detection and treatment in preventing adverse outcomes, nuclear medicine emerges as a vital tool in these healthcare areas. According to the World Health Organization (WHO), Cancer caused 10 million deaths in 2020, and it is projected that there will be 19.3 million new cases annually by 2025. Additionally, WHO reports that 17.9 million people worldwide succumbed to Cardiovascular Diseases (CVD) in 2019, constituting 32% of all fatalities, with an anticipated increase to 23.3 million by 2030. This escalating incidence of diseases is expected to drive the growth of the nuclear medicine market.
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What is Nuclear Medicine Market Regional Insight?
Dominating the industry with a commanding 45.2% market share in 2022, North America is poised for continued rapid expansion throughout the forecast period. The region's leading position can be attributed to factors such as a substantial volume of nuclear medicine treatments, a robust healthcare infrastructure, and increased investments in research and development (R&D) activities. Notably, the commitment to advancing nuclear medicine is exemplified by Eckert & Ziegler's announcement in January 2022 regarding their plans to establish a cGMP facility in Boston, United States. This strategic move aims to cater to the growing demand for radionuclides in the market, focusing on the production of late-investigational-stage and commercial-stage radioisotopes crucial for nuclear medicine applications.
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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)
Table of content for the Nuclear Medicine Market includes:
1. Global Nuclear Medicine : Research Methodology
1. Global Nuclear Medicine : 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
3. Global Nuclear Medicine : 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
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape
• Nuclear Medicine Market Size, Share, Size & Forecast by different segment |
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Nuclear Medicine 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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