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Nuclear Medicine Diagnostics Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Nuclear Medicine Diagnostics Market
Nuclear Medicine Diagnostics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $11.31 billion In 2028 At A CAGR Of 11.4% :
The nuclear medicine diagnostics market size has grown rapidly in recent years. It will grow from $6.57 billion in 2023 to $7.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to advancements in medical imaging, increasing prevalence of chronic diseases, aging population trends, clinical applications in oncology, diagnostic accuracy and precision.
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.
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Nuclear Medicine Diagnostics Market Major 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 Driver - 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.
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Prominent Trend - 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.
Nuclear Medicine Diagnostics Market Players
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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the nuclear medicine diagnostics market in 2023. The regions covered in the nuclear medicine diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nuclear Medicine Diagnostics Market Report Structure
3. Nuclear Medicine Diagnostics Market Trends And Strategies
4. Nuclear Medicine Diagnostics Market - Macro Economic Scenario
5. Nuclear Medicine Diagnostics Market Size And Growth
…..
27. Nuclear Medicine Diagnostics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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