Nuclear Medicine Radioisotopes Market Growth Opportunity, And Regional Analysis Forecast 2024 To 2031 | NTP Radioisotopes SOC Ltd, Nordion Inc., (Sotera Health company)

Nuclear Medicine Radioisotopes Market Expected to reach a high CAGR 12.8% By 2031

The objective of the market research report on the nuclear medicine radioisotopes Market is to deliver a comprehensive analysis of the market, featuring insightful observations, statistics, historical data, and industry-validated insights. Additionally, it aims to provide forecasts based on robust assumptions and methodologies. This study enhances the understanding of global nuclear medicine radioisotopes market dynamics and structure by segmenting and analyzing various market sectors while estimating the overall market size.

Furthermore, the report explores the competitive positioning of key companies, investigating elements such as product offerings, pricing strategies, financial performance, product portfolios, growth initiatives, and geographical reach.

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Nuclear Medicine Radioisotopes are radioactive isotopes used in medical imaging and therapy. These substances emit radiation that can be detected by specialized imaging equipment, allowing healthcare professionals to visualize and assess the function of organs, tissues, and systems within the body. Commonly used radioisotopes include Technetium-99m, which is frequently employed in diagnostic scans, and Iodine-131, used for treating thyroid disorders. The unique properties of these isotopes enable targeted diagnosis and treatment of various medical conditions, including cancers, heart disease, and neurological disorders, while minimizing exposure to surrounding healthy tissues.

Market Players

Companies are mainly concentrating on strategies like new product launches to enter the fastest-growing emerging markets worldwide. Key players highlighted in the nuclear medicine radioisotopes market research report include:

• NTP Radioisotopes SOC Ltd
• Nordion Inc.
• (Sotera Health company)
• Cardinal Health, Inc
• Bayer AG
• GE Company (GE Healthcare)
• NorthStar Medical Radioisotopes, LLC

Market Dynamics:

The global nuclear medicine radioisotopes market is experiencing growth driven by the expanding nuclear medicine sector. This increase can be attributed to factors such as the rising incidence of cancer and cardiac diseases, along with initiatives aimed at reducing the supply-demand gap for Mo-99.
The segment for SPECT and PET applications is expected to dominate the market.

The growing global incidence of cancer and advancements in healthcare facilities are key drivers of market expansion. According to GLOBOCAN 2020, there were approximately 19.3 million new cancer cases worldwide in 2020, with projections estimating this number will rise to 28.9 million by 2040. Additionally, the increasing applications of SPECT and PET are contributing to market growth.

For example, in February 2022, Blue Earth Diagnostics, a Bracco company and leader in PET radiopharmaceuticals, announced an upcoming oral presentation of key findings from its Phase 3 SPOTLIGHT trial of 18F-rhPSMA-7.3 for recurrent prostate cancer at the ASCO 2022 Genitourinary Cancers Symposium.

Furthermore, in December 2021, GE Healthcare launched its most advanced SPECT/CT nuclear medicine system at RSNA21. Such advancements are expected to enhance the development of radioisotopes and further contribute to market growth.

Market Segments

Market segmentation involves organizing customers into groups that respond similarly to marketing strategies. This is the crucial first step in creating a sales process that effectively appeals to diverse demographics. The market research report is divided into the following segments:

By Type of Radioisotopes: Fluorine-18, Technetium-99m (Tc-99m), Thallium-201 (Tl-201), Iodine (I-123), Rubidium-82 (Rb-82), Iodine-131 (I-131), Lutetium-177 (Lu-177), Radium-223 (Ra-223) and Alpharadin, Actinium-225 (Ac-225)

By Application: Cardiology, Oncology, Thyroid, Neurology, Other

By End-User: Hospitals, Diagnostic centers, Specialty Clinics, Education and Research institutes, Others

Regional analysis

☞ North America - US, Canada, Mexico
☞ Europe- Germany, UK, France, Italy, Spain, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Rest of South America
☞ Middle East and Africa

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**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

The research study aims to address the following key questions:

➡What is the expected growth rate of the nuclear medicine radioisotopes Market during the forecast period of 2031?

➡What key factors are driving the nuclear medicine radioisotopes Market across various regions?

➡Who are the leading vendors in the nuclear medicine radioisotopes industry, and what strategies contribute to their success?

➡What is the Nuclear Medicine Radioisotopes Market scope for the projected period?

➡What major trends are influencing the industry's growth in the coming years?

➡What challenges does the nuclear medicine radioisotopes Market face?

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