The Asia-Pacific nuclear medicine market is expected to reach USD 4,274 million by the end of 2019, growing at a CAGR of around 16% from 2014 to 2019.
Nuclear medicine utilizes radioisotopes for application in diagnosis and treatment of diseases. The drugs containing radionuclides are said to be radiopharmaceuticals. Their uses in radiological imaging include Magnetic Resonance Imaging (MRI), Computerized tomography (CT), Positron Emission Tomography (PET) and Single Proton Emission Tomography (SPECT).
Asia-Pacific Nuclear Medicine Market-Market Dynamics
The use of nuclear medicine for diagnostic purposes is gaining importance in the Asia-Pacific region rapidly. There has been increased use of SPECT, PET, CT and MRI for diagnosis of cardiac diseases, brain diseases, cancer and many others. Nuclear medicine is being used for therapeutic purposes for treatment of Alzheimer's disease, coronary heart diseases, bone metastasis, different medical conditions affecting the thyroid gland, scar -tissue removal and many cancers.
Some of the factors driving the market are:
Increasing incidence of cancer, thyroidal diseases, endocrinal diseases, and cardiac ailments
Rise in applications of SPECT and PET with advancement of technology
Growing awareness amongst physicians
Public awareness for better healthcare
Emerging economies in Asia-Pacific
Developing healthcare industry
Some of the factors that are limiting the growth of the market are:
Short half-life of radiopharmaceuticals
High capital investment required for development
Stringent regulatory guidelines
Lack of awareness amongst a large patient population
The market offers ample opportunities for market players. Some of these are:
Increasing imaging technologies
Potential radioisotopes in the pipeline
Increasing neurological applications
Increasing cyclotron-based production
The Asia-Pacific nuclear medicine market has been segmented based on type and application. The segmentation based on type of product has been further divided based on diagnostic market and therapeutic market, wherein, the diagnostics market has been further subdivided into SPECT radioisotopes that include Technetium-993, Thallium-201, Iodine-123, Gallium and PET radioisotopes that include Rubidium-82, Flourine-18, and the therapeutics category has been segmented into Alpha emitters (Radium-223), Beta Emitters(includes Iodine-131, Samarium-153, Lutetium-177, Yttrium-90) and Brachytherapy (includes iodine-125, Cesium-131, Palladium-103, & Iridium-192). The segmentation based on application has been similarly subdivided based on diagnostic and therapeutic application. The diagnostic application includes the application of SPECT and PET in Cardiology, Neurology, Oncology and others. The therapeutic applications include application in Oncology, Thyroid, Endocrinology and various other therapeutic areas.
The Asia-Pacific region has been categorized into China, India, Japan, Australia, New Zealand and South Korea. The Indian and Chinese markets are expected to grow due to the fast growing economy and recent health initiatives taken by the government. Upcoming radioisotopes such as Ra-223 (Alpharadin) and Ga-68 possess huge potential for clinical applications.
Currently, the diagnostics segment holds the largest share in the Asia-Pacific nuclear medicine market in which again SPECT has the largest share. In the segmentation based on type, the Beta Emitters hold the largest share.
Some of the key players in the market are:
Cardinal Health, Inc.
Lantheus Medical Imaging
What the Report Offers
Market definition for the Asia-Pacific nuclear medicine market along with identification of key drivers and restraints for the market.
Market analysis for the Asia-Pacific nuclear medicine market, with region-specific assessments and competition analysis.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the Asia-Pacific nuclear medicine market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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