Nuclear Medicine/Radiopharmaceuticals Market: Overview
The increasing prevalence of Cancer, failure of Cardiac, Alzheimer’s, and Parkinson’s are some of the important factor propelling the growth of the global market for nuclear medicine and radiopharmaceuticals market in near future. Rising demand from the growing economies is expected to influence the demand of this market during the course of the forecast period from 2015 to 2023.
Furthermore, increasing demand for proper healthcare infrastructure, the non-invasive nature of the process and increasing investment on healthcare in this growing countries is likely to upsurge the demand of this market, positively. The nuclear medicine and radiopharmaceuticals market is further driven by spreading awareness at global level, major progress in development of the radiotracers and the new pipeline of radioisotopes.
On the other hand, very short term life of the radiopharmaceuticals, unavailability of the reimbursement policy and strict policy and rule are some of the factor hampering the growth of the market at global level. The radiation exposure side effects is also one of the important factor driving the demand negatively. The major side effects of the radiation are infertility among men, skin irritation, vomiting, fatigue and nausea.
The global market for nuclear medicine and radiopharmaceuticals can be classified on the basis of the product types and applications. Among all segment, cardiology of the application segments dominates the market in terms of largest market share. Whereas, SPECT of the product types segments expected to account for major share of the market in nuclear medicine and radiopharmaceuticals market in coming years.
Nuclear Medicine/Radiopharmaceuticals Market: Trends
The dependency and importance of the diagnosing disease is one of the major factor significantly driving the demand of the nuclear medicine and radiopharmaceuticals market. The radiopharmaceuticals also helps in diagnosis the heart rate, the mechanism process of kidney cells. The radiopharmaceuticals helps in diagnosing metal health of the patients and it also helps in diagnosing the exact location of bone fracture and the cancers location.
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Nuclear Medicine/Radiopharmaceuticals Market: Geography
On the basis of geography, North America is likely to dominate the global market for nuclear medicine and radiopharmaceuticals in terms of usage. The effectiveness of the diagnosis procedure for the early detection of the disease like cancer, cardiac disease is important factor influencing the growth of this market in near future. In 2014, market is dominated by the North America and which is further followed by Europe and Asia Pacific. Furthermore, North America likely to remain dominant due to its increased better infrastructure facility in the healthcare sector, increasing cases of the cancers and cardiac , the increasing advantages that the radiopharmaceuticals have to provide and easy access to radiopharmaceuticals.
Nuclear Medicine/Radiopharmaceuticals Market: Competition
This section of the report highlights the major players operating in the global nuclear medicine and radiopharmaceuticals market. The report also includes some of the leading manufacturers operating in this market such as Sigma Aldrich Corporation, Cardinal Health, Inc., IBA Molecular Imaging, Monrol Nuclear Products and Mallinckrodt Plc.
The study also presents comprehensive analysis of the competitive landscape and key opportunities it could provide during the forecast period from 2015 to 2023