Global Nuclear Medicines Market Size Statistics Will Reach USD 12.17 Billion By 2028, at 9.0% CAGR Growth: Polaris Market Research
07 Jun 2022
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NEW YORK, June 7, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on
"Nuclear Medicine Market Share, Size, Trends, Industry Analysis Report, By Type (Diagnostic, Therapeutic, Others); By Modality (Beta-emitters, PET, SPECT, Alpha-emitters, Brachytherapy, Others); By Application; By End-Use; By Regions; Segment Forecast, 2021 - 2028" in its research database.
According to recent research study, the global nuclear medicines market size & share is expected to
grow at a CAGR of 9.0% between 2021 and 2028. The nuclear medicines industry revenue of USD 6.19 billion in 2020 is
expected to grow up to USD 12.17 billion by 2028.
What is Pharmaceutical Nuclear Medicines? How Big is Nuclear Medicine Market?
Report Overview
Nuclear medicine refers to a specialized medical which uses radioactive materials or radiopharmaceuticals to examine bodily functions and to identify and treat various types of diseases. Technology advanced cameras allow doctors to track the path of these radioactive tracers. The device is a combination of many different disciplines methods including chemistry, physics, mathematics, computer technology, and medicine. This branch of radiology is often used to treat diseases, such as cardiac disease, neurological disorders, and cancer.
Physicians are using the more convenient therapeutic radiopharmaceuticals instead of the conventional chemotherapy methods for treating oncology and cancer, which is expected to offer new opportunities in the nuclear medicine market. Doctors find this radiology a convenient and safer alternative for patients as compared to X-Rays and other external radiation imaging devices. The rising number of cancer cases and increasing awareness about nuclear medicine are driving the global nuclear medicine market growth.
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Industry Developments:
In September 2021, Medtronic plc, a global healthcare technology leader, announced the latest additions to its minimally invasive spine surgery ecosystem, making it the only company to combine spinal implants, biologics, navigation, robotics, and AI-powered data for surgeons and patients.
In June 2021, Curium unveiled the acquisition of Austrian-based pharmaceuticals firm IASON to increase its footprint in Europe.
In March 2021, Bracco Diagnostics Inc. announced a partnership with CardioNavix, LLC to enhance the patient experience of the novel cardiac PET imaging system.
Top Global Market Players Are:
Bracco Imaging S.P.A.
Australian Nuclear Science & Technology Organization
Isotopia Molecular Imaging Limited
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Nuclear Medicine Market: Growth Driving Factors
The increasing constancy and prevalence of cancer and cardiovascular disease (CVD) is driving the market growth. The rising demand for therapeutic nuclear medicine is anticipated to increase over the forecast period, thus contributing to the market growth. The demand for radiopharmaceuticals is expected to rise during the predicted period owing to its growing application sectors. Also, the increasing need to deliver effective healthcare services, the rising elderly population, rising cases of chronic diseases, and the need to deliver better patient experience are expected to boost the nuclear medicine market growth. In addition, the growing prevalence of leading market players across developing economies will support the market growth.
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Nuclear Medicine Market: Report Dynamics & Scope Analysis
Also Read, Press Release on Nuclear Medicine Market Size Worth $12.17 Billion By 2028 | CAGR: 9.0%
Nuclear Medicine Market: Segmentation
Based on type, the market is categorized into diagnostic, therapeutic, and others. The diagnostic segment accounted for the largest market share in the global nuclear medicine market in 2019.
On the basis of modality, the market is segmented into Beta-emitters, PET, SPECT, Alpha-emitters, brachytherapy, and others. SPECT segment led the nuclear medicine market in 2019 due to its low cost and large use in a variety of segments.
On the basis of application, the market is characterized into the thyroid, cardiology, bone metastasis, oncology, neurology, gastroenterology, immunology, and others. The cardiology market segment generated the largest share of the nuclear medicine market and is anticipated to grow at the highest CAGR over the forecast period.
Based on the end-use outlook, the market is segmented into hospitals, clinics & diagnostic centers, research institutes, and others.
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Geographic Overview: Nuclear Medicine Market
Based on geography, North America dominated the global nuclear medicine market in 2020 due to the rising elderly population, increasing research and development activities, favorable guidelines about the use of medical isotopes, and the technological developments are accelerating the market growth in the region. Moreover, the Asia Pacific region is expected to grow at a faster pace owing to increased awareness about nuclear medicine therapies and growing investment in the nuclear medicine space. Rising cases of chronic diseases, increasing health consciousness, well established healthcare infrastructure, rising awareness about preventive healthcare, and early diagnosis of diseases are additional factors contributing to the demand for nuclear medicine in the region.
Browse the Detail Report
"Nuclear Medicine Market Share, Size, Trends, Industry Analysis Report, By Type (Diagnostic, Therapeutic, Others); By Modality (Beta-emitters, PET, SPECT, Alpha-emitters, Brachytherapy, Others); By Application; By End-Use; By Regions; Segment Forecast, 2021 - 2028" with in-depth TOC:
https://www.polarismarketresearch.com/industry-analysis/nuclear-medicine-market
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Nuclear Medicine Market: By Type Outlook
Diagnostic
Therapeutic
Others
Nuclear Medicine Market: By Modality Outlook
Beta-emitters
PET
Alpha-emitters
Brachytherapy
Others
Nuclear Medicine Market: By Application Outlook
Thyroid
Cardiology
Bone Metastasis
Oncology
Neurology
Immunology
Others
Nuclear Medicine Market: By End-Use Outlook
Hospitals
Clinics & Diagnostic Centers
Research institutes
Others
Frequently Asked Questions About the Market:
What is the global nuclear medicine market size at the global level?
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What are the top trends in the market?
What is the growth rate of the global nuclear medicine market?
Which Is the most potential market segment?
Which are the top industry players in the nuclear medicine market?
Which region would offer high growth for vendors in the global nuclear medicine market?
How will the market dynamics change because of the impact of future opportunities, restraints, and drivers?
What is the impact of the regulations on the growth of the business?
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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