The global nuclear medicine market is projected to reach USD 7.5 billion by 2026 from USD 4.8billion in 2021, at a CAGR of 9.0% during the forecast period. Growth in the nuclear medicine market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer and cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99. However, the short half-life of radiopharmaceuticals reduces their potential adoption, while hospital budget cuts and high equipment prices are expected to limit market growth to a certain extent.
Therapeutic segment is expected to grow at the highest CAGR On the basis oftype, the nuclear medicine market is segmented into diagnostic and therapeutic.The diagnostic segment accounted for a larger share of the market 2020.
The large share of this segment can be attributed to the non-invasiveness, increasing prevalence of cardiovascular diseases and early diagnosis.
Thyroid applications segment is expected to register the highest growth during the forecast period Based on application, the nuclear medicine market is segmented into SPECT, PET, and therapeutic applications.The SPECT applications is further segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications.
The thyroid applications segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing incidence and prevalence of thyroid disorders
North AmericaTo Witness Significant Growth From 2021 To 2026 In 2020, North America accounted for the largest share of the nuclear medicine market. A large share of North America can be attributed to The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the region.
Breakdown of supply-side primary interviews: • By Company Type: Tier 1 – 64%, Tier 2 – 23%, and Tier 3 – 13% • By Designation: C-level – 35%, Director-level – 25%, and Others – 40% • By Region: North America - 42%, Europe – 21%, APAC –26%, Rest of the World –11% Some of the prominent players operating in the nuclear medicine include Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).
Research Coverage This report studies the nuclear medicinemarket based on type, application, procedure volume and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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