IQ4I Research & Consultancy published a new report on Nuclear Medicine Global Market – Forecast To 2022

This report analyzes the nuclear medicine global market in terms of market revenue ($ million) for all segments and it enables nuclear medicine/radiopharmaceutical manufacturers, product distributors, diagnostic centers, clinical laboratories and hospitals, pharmaceutical and biopharmaceutical players, various research and consulting firms and other associated stake holders to identify and analyze market expansion opportunities, upcoming technologies, Patent Trends and competition in nuclear medicine global market.

Nuclear medicine is a highly multi-disciplined specialty sector that develops and makes use of instrumentation and radiopharmaceuticals to study physiological processes, non-invasive diagnostics and therapeutic purpose in safe, effective and painless manner. Radioisotopes containing a radioactive tracer are generally inhaled, swallowed or injected into the patient and the gamma-rays emitted by this material are used by the SPECT and PET imaging modalities to display images of bones and organs. Nuclear medicine technique over traditional methods provide enhanced early detection, accurate diagnosis, rapid results, detailed description of various diseases and helps in adopting additional treatment plans.

The effective usage of integrated structure–function imaging, has led nuclear medicine to reach ahead of traditional limitations and step into diagnostic radiology and various therapeutic indications. Advancements in radioactive tracers are providing practical methods for studying the limited metabolic activities of bones and teeth, hence has found a role in dental science research. According to IQ4I estimates, the nuclear medicine/radiopharmaceuticals global market is expected to reach $9,275.3 million by 2022.

Increased radioisotopes application, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, abundance of radiopharmaceuticals, advancement in technology and alpha immunotherapy based targeted cancer treatment boosts nuclear medicine market growth. In addition, increasing need in emerging markets, production of radio pharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipments are the opportunities likely to propel the growth of nuclear medicine market.

However, regulatory issues, high cost and supply shortage of isotopes, shorter half life of radiopharmaceuticals and threat from traditional/alternative diagnostic procedures are hampering the growth of the market. The threats for the nuclear medicine/radiopharmaceuticals market include huge capital investment and shortage of qualified technicians. The major problem area of nuclear medicine market is closure of reactors.

The nuclear medicine/radiopharmaceuticals global market by type is segmented into diagnostics which includes SPECT and PET and therapeutics, which include alpha radiation therapy, beta radiation therapy and brachytherapy. Diagnostics market holds the largest market revenue of $4,608.7 million in 2015 and therapeutics segment is expected to grow at double digit CAGR from 2015 to 2022 due to technological advancements in targeted treatment especially cancer related diseases, potential radioisotopes in pipeline and advances in neurological applications are the key factors driving the growth of the therapeutics market.

North American region commanded the largest share in the global nuclear medicine market due to increasing use of SPECT and PET scans technological advancements in equipment, increased utilization of fusion imaging, alpha radio immunotherapy based targeted cancer treatment and complete availability of radiopharmaceutical has led the market growth in this region. However, Rest of the World region is expected to grow at double digit CAGR from 2015 to 2022 due to increased building of huge capacity reactors, continuous and strong support from international organizations and collaboration among countries.

Companies such as Cardinal Health Inc., Mallinckrodt, GE Healthcare, Lantheus Medical Imaging and Siemens Healthcare are ahead of other companies and are considered to be leaders in nuclear medicine sector with their marketed products. IBA Group is leading in cyclotron production of radioisotopes and have cyclotrons as one of their product segment while, Bayer Healthcare is the only player developing and marketing Radium-223 dichloride under the brand name Xofigo.

Affibody AB (Sweden), Algeta (ASA), Bard Medicals (Europe), BV Cyclotron VU (Netherlands), Draximage Inc. (U.S.), Eurisotop (Europe), Huayi Isotopes Co (China), Urenco (U.K), are some of the emerging players in the nuclear medicine/radiopharmaceuticals market.

Major players in the nuclear medicine/radiopharmaceuticals global market are Bayer Healthcare (Germany) Cardinal Health Inc. (U.S.), GE Healthcare (U.K.), IBA Group (Belgium), Lantheus Medical Imaging (U.S.), Mallinckrodt Plc (Ireland), NTP Radioisotopes (South Africa), Nordion Inc (Canada) Siemens Healthcare (Germany) and Taiyo Nippon Sanso Corporation (Japan).

IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a market research firm. Our clients include leading businesses, investment banks, researchers and government agencies.

We are a team of highly qualified consultants and market researchers, committed to help clients make strategic decisions by providing relevant and firmly reliable Intelligence support. We enable our clients to identify the market opportunities with best-in-class market intelligence reports.

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This release was published on openPR.