Intensive Funding and Research to Lead Nuclear Medicine Market to Post Significant Gains Through 2023

Several factors, including strong government backing, are collectively pointing toward a progressive increase in the demand for nuclear medicine, says Transparency Market Research (TMR) in a new report. Radiopharmaceuticals will continue to remain a core revenue generating area in the global nuclear medicine market, the report, titled ‘Nuclear Medicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015–2023,’ forecasts. With radioisotopes bearing high commercial potential in the pipeline, TMR analysts expect that overall market revenues will rise upward of US$5 billion by 2020, and continue to post positive growth until the end of 2023.

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Nuclear medicine has proven to be highly efficacious in the diagnosis and treatment of numerous conditions and diseases. This branch of medicine involves the use of radioactive materials in carefully measured and regulated amounts. In nuclear imaging, radiotracers are administered to patients via an oral pill, injection, or as an inhaled dosage. As the radiotracer makes its way through the internal areas that need to be examined, it emits gamma rays that are detected by specially designed imaging equipment to obtain a clear picture based on which a diagnosis can be reached.

Likewise, nuclear therapy includes the administration of very small amounts of radioactive sources such as radioactive iodine (I-131) therapy. Numerous research projects are currently underway to develop more effective nuclear therapies to treat a range of diseases and conditions, especially different kinds of tumors and cancers.

Nuclear therapy is increasingly being regarded as a treatment option in the event of other conventional approaches not yielding the desired results. For example, patients who are suffering from non-Hodgkin's lymphoma but are unresponsive to chemotherapy are often advised to undergo radioimmunotherapy. Factors such as these will create a massive opportunity for companies operating in the global nuclear medicine market.

For the purpose of this study, the global nuclear medicine market is broadly segmented into radioactive isotopes and radiological imaging devices. The radiological imaging devices studied include positron emission tomography (PET), single photon emission tomography (SPECT), magnetic resonance imaging (MRI), and computerized tomography (CT).

However, given the adverse effects nuclear materials can have on healthy cells, the global nuclear medicine market is tightly regulated. This makes it difficult for pharmaceutical companies to bring new products into the commercial area. In addition to this factory, there is a pressing need for well-trained and skilled nuclear medicine experts. These factors will likely impede the growth of the global nuclear medicine market over the report’s forecast period.

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Companies that prominently feature on the leaderboard of the global nuclear medicine market are: G.E Healthcare, Ashby Gorman Baker Ltd., COMECER S.P.A, Pinestar Technology, Inc., and Mediso Ltd.

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This release was published on openPR.