Pune, India, January 18, 2023 (GLOBE NEWSWIRE) — Global nuclear medicine market The size was valued at US$5.04 billion in 2020 and US$5.57 billion in 2021. The market is expected to reach USD 19.47 by 2028, at a CAGR of 19.6% during the forecast period. The market growth is mainly due to the increasing incidence of chronic diseases. Additionally, technological advancements that allow radiopharmaceuticals to be used to analyze and treat cancerous tumors will help the market grow.
Fortune Business Insights™ Share this information in the report titled “Nuclear Medicine Market Forecast, 2023-2028.”
industrial development
Bracco Diagnostics Inc. has announced a collaboration with CardioNavix, LLC to enhance patient access to cardiac PET imaging. This new program, the Bracco Mobile Isotope Service, will enable more patient care sites to offer cardiac PET imaging.
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Report scope and segmentation
| report coverage | detail |
| Forecast period | 2021-2028 |
| Forecast period 2020-2027 CAGR | 19.6% |
| 2028 value projection | US$19.47 billion |
| base year | 2020 |
| Market size in 2020 | US$5.04 billion |
| historical data | 2017-2019 |
| page number | 169 |
driving factor
Technological advances in nuclear imaging modalities boosting the market
One of the fundamental aspects of the growth of the nuclear medicine market is the growing awareness of the potential impact of primary and timely diagnosis and positive agitation in long-term disability management and treatment. The development of nuclear imaging techniques, especially PET/PET-CT, has helped expand the application of this modality beyond oncology to cardiology, neurology, and the identification of infectious diseases.
important point
- Market players focusing on various strategies, such as new product launches, are expected to increase revenue over the next year.
- Development of new therapeutic products for treatment of various medical conditions stimulating market growth.
- North America is expected to generate USD 2.57 billion in 2020 and continue to dominate the market during the forecast period.
- Increasing prevalence of various cancers and other chronic diseases is expected to boost the growth of the North American market during the forecast period.
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segmentation
Based on type, the market is segmented into diagnostic and therapeutic radiopharmaceuticals. The diagnostic radiopharmaceutical segment is estimated to hold a dominant share of the global market in 2020.
In terms of application, the market is segmented into neurology, cardiology, oncology, and others.
By end-user, the market is segmented into hospitals and clinics, diagnostic centers, and others.
Geographically, the market is branched into North America, Europe, Asia Pacific, and the rest of the world.
Regional Insight
North America Leads, Supported by Increased Use of Therapeutic Radiopharmaceuticals
North America is expected to generate a revenue of US$2.57 billion in 2020 and maintain its dominance during the forecast period. Rapid adoption of pooled operational nuclear imaging technology with increasing utilization of technically sound and proficient therapeutic radiopharmaceuticals across the region is expected to boost the market growth.
Europe is estimated to hold the second highest nuclear medicine market share due to advanced radiopharmaceutical adoption and current product launches by prominent players.
Asia Pacific is projected to expand at a significant CAGR during the forecast period.
competitive environment
Partnerships initiated by key players to drive market growth
The market’s dominant players continuously back up resourceful strategies to enhance their brand value and drive the growth of the global market for their products while facing unimaginable obstacles. One such effective strategy is to acquire a competitive firm and enhance the interests of both firms involved.
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List of major players covered in the report
- Lantheus Medical Imaging, Inc. (USA)
- Cardinal Health (United States)
- Norgine BV (Netherlands)
- Nordion (Canada) Inc. (Canada)
- Bayer AG (Germany)
- Curium (France)
- Advanced Accelerator Applications (Novartis AG) (France)
- Bracco Diagnostic Inc. (USA)
- Jubilant Pharmova Limited (India)
- GE Healthcare (General Electric Company) (U.S.)
Main points of the table of contents:
- prologue
- Market range
- market segmentation
- research method
- definitions and assumptions
- executive summary
- market dynamics
- market driver
- market constraints
- market opportunity
- Market trend
- key insight
- Installed Base of PET/PET-CT Scanners – Select Countries, 2015 and 2019
- Gamma Camera Installed Base – Selected Countries, 2019
- PET/PET-CT treatment volumes – selected countries, 2019
- Redemption scenarios – for major countries
- New product launch
- major industry developments
- Pipeline analysis
- Market Impact of COVID-19
- Global Nuclear Medicine Market Analysis, Insights and Forecasts, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Type
- diagnose
- PET Radiopharmaceutical
- FDG-PET/18F
- 68Ga
- 68Cu
- 11C
- others
- SPECT radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- others
- PET Radiopharmaceutical
- Therapeutics
- diagnose
- Market Analysis, Insights & Forecasts – By Application
- neurology
- cardiology
- Oncology
- others
- Market Analysis, Insights & Forecasts – By End User
- hospitals and clinics
- diagnostic center
- others
- Market Analysis, Insights & Forecasts – By Region
- North America
- Europe
- Asia Pacific
- rest of the world
- North America Nuclear Medicine Market Analysis, Insights and Forecasts, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Type
- diagnose
- PET Radiopharmaceutical
- FDG-PET/18F
- 68Ga
- 68Cu
- 11C
- others
- SPECT radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- others
- PET Radiopharmaceutical
- Therapeutics
- diagnose
- Market Analysis, Insights & Forecasts – By Application
- neurology
- cardiology
- Oncology
- others
- Market Analysis, Insights & Forecasts – By End User
- hospitals and clinics
- diagnostic center
- others
- Market Analysis, Insights & Forecasts – By Country
- European Nuclear Medicine Market Analysis, Insights and Forecasts, 2017-2028
- Main Findings/Summary
- Market Analysis, Insights & Forecasts – By Type
- diagnose
- PET Radiopharmaceutical
- FDG-PET/18F
- 68Ga
- 68 Cu
- 11C
- others
- SPECT radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- others
- PET Radiopharmaceutical
- Therapeutics
- diagnose
TOC Continuing…
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