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Nuclear Medicine Market Report 2024: Strategies And Recent Developments | Bracco Imaging S.P.A., Lantheus Medical Imaging Inc., NTP Radioisotopes SOC Ltd., Eckert & Ziegler Group, Jubilant Pharma LLC, Australian Nuclear Science & Technology Organisation,
Nuclear Medicine Market
The Business Research Company offers in-depth market insights through Nuclear Medicine Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The nuclear medicine market size has grown rapidly in recent years. It will grow from $7.75 billion in 2023 to $8.88 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to aging population, cancer diagnosis and staging, cardiology applications, neurological disorders, regulatory approvals.
The nuclear medicine market size is expected to see rapid growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to personalized medicine, oncology and neurology research, sustainable practices, research and development, telemedicine services. Major trends in the forecast period include radioimmunotherapy, hybrid imaging, artificial intelligence (ai), emerging radiopharmaceuticals, diagnostic imaging advancements.
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Market Segmentation:
The main types of nuclear medicine are diagnostic and therapeutic. A diagnostic is an examination to identify a person's distinct areas of strength and weakness to identify a condition, disease, or illness. The applications involved cardiology, lymphoma, thyroid, neurology, oncology, and other applications. The end-users included hospitals and clinics, diagnostic centers, and other end-users.
Major Driver - Cardiovascular Disease And Cancer Surge Drive Growth In The Nuclear Medicine Market
The increase in constancy and prevalence of cardiovascular disease (CVD) and cancer are expected to propel the growth of the nuclear medicine market going forward. Cardiovascular diseases (CVDs) are a group of heart and blood vessel disorders, and cancer is a disease in which cells grow out of control and spread to other body parts. Nuclear cardiac imaging can help diagnose cardiac diseases more quickly. Nuclear medicine therapy is a method to treat cancer that might be used with or after other therapy options, such as surgery and chemotherapy. As a result, the growing constancy and prevalence of cardiovascular disease and cancer increases the demand for nuclear medicine market. For instance, in January 2023, according to the American Cancer Society Inc., a US-based non-profit health group, in 2023, 1,958,310 new cancer cases are expected to be diagnosed in the US, an increase compared to more than 1,918,030 new cancer cases in 2022. Therefore, the growing constancy and prevalence of cardiovascular diseases and cancer are driving the nuclear medicine market.
Competitive Landscape:
Major companies operating in the nuclear medicine market include Bracco Imaging S.P.A., Lantheus Medical Imaging Inc., NTP Radioisotopes SOC Ltd., Eckert & Ziegler Group, Jubilant Pharma LLC, Australian Nuclear Science & Technology Organisation, Cardinal Health Inc., GE Healthcare Technologies Inc., Curium Pharma, Advanced Accelerator Applications USA Inc., Nordion Inc., The Institute for Radioelements, Eczacibasi-Monrol Nuclear Products Co., Siemens Healthineers AG, Cambridge Isotope Laboratories Inc., Bayer AG, Medtronic plc, Triad Isotopes Inc., FUJIFILM Holdings Corporation, Mallinckrodt Pharmaceuticals plc, PharmaLogic Holdings Corp., Institute of Isotopes Co. Ltd., Sinotau Pharmaceuticals Limited, Isotopia Molecular Imaging Limited, SHINE Medical Technologies Inc., Global Medical Solutions LLC, Charles River Analytics Inc., Touchlight Genetics Ltd., Numares B.V., Tech-X Corporation, Karyopharm Therapeutics Inc., JSC Isotope Inc., NorthStar Medical Radioisotopes LLC
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Top Trend - Product Innovation Drives Advancements In The Nuclear Medicine Market
Product innovation is the key trend gaining popularity in the nuclear medicine market. Major companies operating in the nuclear medicine market are focused on developing new innovative products to strengthen their position. For instance, in March 2021, GE Healthcare, a US-based company that deals with nuclear medicine, launched Star Guide, a new nuclear medicine system to assist in advancing precision health and theranostics. StarGuide uses the most recent developments in Cadmium Zinc Telluride (CZT) technology to assist providers in exploring and better understanding the patient's condition, enhancing patient outcomes throughout the continuum of care. It has unique features such as digital focus detectors and 360-degree imaging of the system that are intended to support improved theranostic capabilities in nuclear medicine and advanced precision health.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nuclear Medicine Market Characteristics
3. Nuclear Medicine Market Trends And Strategies
4. Nuclear Medicine Market - Macro Economic Scenario
5. Nuclear Medicine Market Size And Growth
…..
27. Nuclear Medicine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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