Nuclear Medicine Market – Trends, Analysis and Forecasts 2020 – 2030
The nuclear medicine is an intricate branch of medical science that uses radiopharmaceuticals for detection and diagnostic procedures. The radiopharmaceuticals consist of radioisotopes produced through particle accelerator such as the medical cyclotron and are used for targeted therapy, detection based imaging and therapeutics. With advancement in medical technology, the imaging and diagnostic devices have evolved significantly. The nuclear medicines are used in the diagnostic imaging equipment to increase the efficacy of diagnosis and thus are gaining popularity worldwide. The radiopharmaceuticals are also used in the treatment of cancer, thyroid, bone metastasis, arthritis and so on, wherein doses of doses of ionizing radiation are delivered to diseases sites for curative or palliative applications. The nuclear medicines or radiopharmaceuticals are administered in very small quantities and thus does not possess any side effect. This has fueled the development of advanced radiopharmaceuticals and is anticipated to be a major factor driving the growth of the global nuclear medicine market during the forecast period.
North America contributed the largest share to the global nuclear medicine market in 2019 and is anticipated to be a dominating geography during the forecast period. The key factors driving the growth of nuclear medicine marker in North America are increasing investment in novel drug discovery, early adoption of nuclear medicine in therapeutic & diagnostic applications, and prevalence of chronic diseases primarily cancer & cardiovascular diseases. Asia Pacific contributed a significant share to the global nuclear medicine market in 2019 and is anticipated to be the fastest growing segment during the forecast period. Increasing investment in expansion of biotechnology and pharmaceutical industry, and rising adoption of advanced therapeutic and diagnostic technologies are expected to drive the Asia Pacific nuclear medicine market in coming years.
The report titled “Nuclear Medicine (Radiopharmaceuticals) Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global nuclear medicine market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Bayer AG reported revenues of USD 46.8 billion in 2019 and the product segment analysis of the company indicates that Crop Science business segment of the company dominated revenue in 2019.
The global nuclear medicine (radiopharmaceuticals) market is segmented based on product type, applications, end user, and geography. Based on product type, the global nuclear medicine market is segmented into diagnostic nuclear medicine, therapeutic nuclear medicine, and brachytherapy isotopes. The diagnostic nuclear medicine is sub-segmented into single-photon emission computed tomography (SPECT) radiopharmaceuticals (Technetium-99m, Thallium-201, Gallium-67, Iodine-123, Other), and positron-emission tomography (PET) radiopharmaceuticals (F-18, Ru-82, Other). The therapeutic nuclear medicine is segmented into alpha emitters, and beta emitters (Iodine-131, Yttrium-90, Samarium-153, Lutetium-177, Rhenium-186, Other). The brachytherapy isotopes are sub-segmented into Iodine-125, Palladium-103, Cesium-131, Iridium-192, and other. Based on applications, the global nuclear medicine market is segmented into oncology, cardiology, neurology, thyroid, and others. Based on end user, the global nuclear medicine market is segmented into hospitals & diagnostic centers, and research institutes. Based on geography, the global nuclear medicine market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on Nuclear Medicine (Radiopharmaceuticals). Further, market share of prominent companies in the global Nuclear Medicine (Radiopharmaceuticals) market would also be estimated. For instance, Bayer AG operates through three business segments namely Crop Sciences, Pharmaceuticals, and Consumer Health. The nuclear medicines products are delivered under Pharmaceuticals business segment of the company with revenue contribution of US$ 19,337.1 million in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the nuclear medicine companies. The global nuclear medicine market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the nuclear medicine business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global nuclear medicine market.
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Major players active in the global nuclear medicine market include Advanced Accelerator Applications, Bayer AG, Cardinal Health, Inc., Curium Pharma, Eczacıbaşı-Monrol, GE Healthcare, Lantheus Medical Imaging Inc., Nordion Inc., NTP Radioisotopes SOC Ltd, and The Bracco Group.