Press release
Global Nuclear Medicine Market to grow at a CAGR of 9.67% by 2030, Evaluates DelveInsight | Lantheus., Cardinal Health., GE Healthcare, Curium Pharma, Nihon Medi-Physics Co., Ltd., Novartis (Advanced Accelerator Applications), Cambridge Isotope Laboratori
DelveInsight's "Nuclear Medicine Market Insights, Competitive Landscape and Market Forecast-2030" report provides the current and forecast market outlook, forthcoming device innovation, challenges, market drivers and barriers. The report also covers the major emerging products and key Nuclear Medicine companies actively working in the market.
To know more about why North America is leading the market growth in the Nuclear Medicine market, get a snapshot of the report Nuclear Medicine Market Trends
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Nuclear Medicine Overview
Nuclear medicine is a specialized area of medical imaging that uses small amounts of radioactive materials (radiotracers) to diagnose and treat diseases. These radiotracers are introduced into the body-often through injection, swallowing, or inhalation-and then detected by special cameras to provide detailed images of internal organs and tissues. It is widely used in detecting cancers, heart diseases, and neurological disorders, as well as for targeted therapies like radioactive iodine treatment for thyroid cancer.
DelveInsight Analysis: The global nuclear medicine (radiopharmaceuticals) market was valued at USD 7,203.62 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 9.67% from 2024 to 2030, reaching approximately USD 12,495 million by the end of the forecast period.
Nuclear Medicine Market Insights
Geographically, North America is projected to lead the global nuclear medicine/radiopharmaceuticals market in 2021 and maintain its dominance throughout the forecast period (2024-2030). This growth is primarily attributed to the rising prevalence of cancer, cardiovascular diseases, and other chronic conditions, largely driven by lifestyle changes and high consumption of processed foods. Additionally, the presence of major industry players, an increasing elderly population susceptible to chronic illnesses, and a supportive reimbursement landscape for radiopharmaceuticals in the U.S. are key factors fueling market expansion in the region.
To read more about the latest highlights related to Nuclear Medicine, get a snapshot of the key highlights entailed in the Nuclear Medicine
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Recent Developments in the Nuclear Medicine Market Report
• In March 2022, Bracco Imaging introduced Blue Earth Therapeutics to drive progress in therapeutic radiopharmaceutical technology. The company is developing a pipeline of precision-targeted radiopharmaceutical therapies, initially aimed at treating prostate cancer, with future plans to broaden its focus to other oncology indications.
• In February 2022, Applied Molecular Therapies introduced 177Lu PSMATherapy, a targeted radiopharmaceutical treatment specifically designed for prostate cancer therapy.
• In February 2022, Cerveau Technologies, Inc. and Nihon Medi-Physics have entered into a manufacturing service agreement, under which Cerveau has authorized NMP to produce [18F] MK-6240, an advanced investigational PET imaging agent.
• Thus, owing to such developments in the market, rapid growth will be observed in the Nuclear Medicine market during the forecast period
Key Players in the Nuclear Medicine Market
Some of the key market players operating in the Nuclear Medicine market include- Lantheus., Cardinal Health., GE Healthcare, Curium Pharma, Nihon Medi-Physics Co., Ltd., Novartis (Advanced Accelerator Applications), Cambridge Isotope Laboratories, Inc, Sotera Health LLC, Bracco Imaging SpA, Jubilant Pharma Limited, Necsa, IBA Radiopharma Solutions, Bayer AG, Norgine, Eczacıbaşı-Monrol, NorthStar Medical Radioisotopes, LLC., Eckert & Ziegler., Telix Pharmaceuticals Limited, ITM Isotope Technologies Munich SE, Mallinckrodt PLC, and others.
Which MedTech key players in the Nuclear Medicine market are set to emerge as the trendsetter explore @ Key Nuclear Medicine Companies
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Analysis on the Nuclear Medicine Market Landscape
Growing technological innovations in disease diagnosis and treatment, along with the rising approvals of new nuclear medicine devices that meet patient treatment needs, are expected to propel the market in the coming years. For example, in September 2021, GE Healthcare introduced an advanced nuclear medicine scanner featuring an automated workflow, providing detailed views of cardiac anatomy and pathology to assist physicians in making accurate treatment decisions.
The COVID-19 pandemic had an adverse impact on the nuclear medicine/radiopharmaceuticals market due to the suspension of non-urgent hospital admissions and outpatient visits, which led to a decline in routine diagnostic and clinical procedures. However, the development and rollout of COVID-19 vaccines supported economic recovery and eased lockdown restrictions, gradually restoring healthcare operations. As regular medical services, including outpatient diagnostics and treatments, resumed, the demand for nuclear medicine and radiopharmaceutical products began to recover, helping the market regain momentum.
Scope of the Nuclear Medicine Market Report
• Coverage: Global
• Study Period: 2021-2030
• Nuclear Medicine Market Segmentation By Type: (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and Others
• Nuclear Medicine Market Segmentation By Application Type: Pain Management, Bowel & Bladder Control, Parkinson's Disease, Epilepsy, and Others
• Nuclear Medicine Market Segmentation By End-User: Hospitals, Ambulatory Surgical Centers, and Others
• Nuclear Medicine Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of the World
• Key Nuclear Medicine Companies: Lantheus., Cardinal Health., GE Healthcare, Curium Pharma, Nihon Medi-Physics Co., Ltd., Novartis (Advanced Accelerator Applications), Cambridge Isotope Laboratories, Inc, Sotera Health LLC, Bracco Imaging SpA, Jubilant Pharma Limited, Necsa, IBA Radiopharma Solutions, Bayer AG, Norgine, Eczacıbaşı-Monrol, NorthStar Medical Radioisotopes, LLC., Eckert & Ziegler., Telix Pharmaceuticals Limited, ITM Isotope Technologies Munich SE, Mallinckrodt PLC, and others
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Interested in knowing how the Nuclear Medicine market will grow by 2030? Click to get a snapshot of the Nuclear Medicine Market Analysis
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Table of Contents
1 Nuclear Medicine Market Report Introduction
2 Nuclear Medicine Market Executive summary
3 Regulatory and Patent Analysis
4 Nuclear Medicine Market Key Factors Analysis
5 Porter's Five Forces Analysis
6 COVID-19 Impact Analysis on Nuclear Medicine Market
7 Nuclear Medicine Market Layout
8 Global Company Share Analysis - Key 3-5 Companies
9 Company and Product Profiles
10 Project Approach
11 Nuclear Medicine Market Drivers
12 Nuclear Medicine Market Barriers
13 About DelveInsight
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About DelveInsight
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