Press release
Global Nuclear Medicine Diagnostics Market 2024: Upcoming Trends, Size, Competitive Landscape Analysis To 2033
Global Nuclear Medicine Diagnostics Market
The nuclear medicine diagnostics market size is expected to see rapid growth in the next few years. It will grow to $11.31 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to expanding applications in neurology, integration with other imaging modalities, precision medicine approaches, rising demand for theranostics, global efforts in disease eradication. Major trends in the forecast period include shift towards small-scale, decentralized radiopharmacy, application of nuclear medicine in neurology, radiomics and quantitative imaging analysis, collaborations for research and development, emphasis on radiation safety and dosimetry.
Market Overview -
Nuclear medicine uses radioactive substances inside the body to diagnose illnesses or to target and remove diseased or damaged organs and tissue (for treatment). Nuclear medicine includes the use of radioactive drugs for research, therapeutic, and diagnostic purposes. Radioactive tracers are used in diagnostic nuclear medicine to visualize and/or measure the overall or local function of an organ.
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Surging Demand For Nuclear Medicine Diagnostics Drives Market Expansion Worldwide
The increasing demand for nuclear medicine diagnostics is expected to propel the growth of the nuclear medicine diagnostics market going forward. Nuclear medicine uses radioactive substances inside the body to diagnose illnesses or to target and remove diseased or damaged organs and tissue (for treatment). The diagnostic uses of nuclear medicine are primarily in radiation and other life-taking treatments. The demand for nuclear medicine diagnostics is increasing due to benefits such as accurate results and better treatment decision making. For instance, in April 2022, according to a report published on nuclear medicine diagnostics by the World Nuclear Association, a UK-based international organization that promotes nuclear power, the annual number of nuclear medicine treatments exceeds 40 million, and the need for radioisotopes is rising at a rate of up to 5% every year. Also, 90% of the procedures involving radioisotopes in medicine take place in more than 10,000 hospitals worldwide. Hence, increasing demand for nuclear medicine diagnostics is expected to propel the growth of the nuclear medicine diagnostics market.
Competitive Landscape -
Major companies operating in the nuclear medicine diagnostics market report are Siemens AG, Bayer Aktiengesellschaft, Novartis AG, GE Healthcare Technologies Inc., Perkin Elmer Inc., Mallinckrodt Pharmaceuticals, Bracco Diagnostics Inc., Lantheus Holdings Inc., IBA Radiopharma Solutions, Curium SAS, Cardinal Health Inc., Eckert & Ziegler Strahlen- und Medizintechnik AG, Advanced Accelerator Applications, Telix Pharmaceuticals Limited, Nordion (Canada) Inc., NorthStar Medical Technologies LLC, SHINE Medical Technologies LLC, Navidea Biopharmaceuticals Inc., Cyclopharm Limited, Isologic Innovative Radiopharmaceuticals, Clarity Pharmaceuticals Limited, Actinium Pharmaceuticals Inc., Jubilant DraxImage Inc., PharmaLogic Holdings Corp, Institute of Isotopes Co Ltd., Global Medical Solutions LLC, Theragnostics Ltd., Sirona Complete Care, Nordic Nanovector ASA, Eczacıbaşı-Monrol Nuclear Products Co
Advancements In Nuclear Medicine Diagnostics Define The Future Of Patient-Centric Solutions
Major companies operating in the nuclear medicine diagnostics market are focused on introducing advanced solutions, such as advanced medical technologies, to gain a competitive edge in the market. Advanced medical technologies are cutting-edge technologies in the field of medicine to improve patient outcomes, enhance the standard of care, and promote better health. For instance, in August 2023, Gleneagles Hospital, a Malaysia-based company that provides medical and healthcare services, launched the Nuclear Medicine Unit. The nuclear medicine unit is a specialized facility within a hospital or medical center that is equipped with the latest technology and staffed by highly skilled professionals. This facility is designed to provide early detection, diagnosis, and treatment of diseases using nuclear medicine imaging techniques.
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Key Segments -
The nuclear medicine diagnostics market covered in this report is segmented -
1) By Type: SPECT Radiopharmaceuticals, PET Radiopharmaceuticals
2) By Application: Cardiology, Thyroid, Neurology, Oncology, Other Applications
3) By End-User: Hospitals And Diagnostic Centers, Research Institutes
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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