Global Nuclear Medicine Radioisotopes Market - Segmented by type of Radioisotopes, Application and Geography - Growth, Trend and Geography (2018 - 2023)
The global nuclear medicine radioisotopes market has been estimated to reach USD 13.9 billion in 2017.The market is expected to register a CAGR of 12.3% during the forecast period 2018 to 2023. North America accounted for the largest market share, for approximately 40% of the global market share in 2017, while Asia-Pacific region was estimated to register the fastest CAGR through the forecast period, 2018-2023.
Rising SPECT and PET Applications
The field of nuclear medicine is dominated by the applications related to positron emission tomography (PET) and single-photon emission computerized tomography (SPECT). Growing interest of PET technology in cardiac and neurological disorders is expected to fuel the market growth. More than 60% of SPECT procedures are performed in cardiology and in addition, orthopedics, oncology and infection imaging are emerging as areas that can benefit from the same. Applications are further increased through the inclusion of advancements in computed tomography (CT), making nuclear medicine as a rising choice for disease diagnosis. In addition, factors such as rising incidences of cardiac and cancer cases along-with rising awareness of public for the same, drives the nuclear medicine market.
High Capital Investments is involved
One of the major hindrance for the nuclear medicine radioisotopes market is the high capital investments required for the generation of radionuclide. Cyclotron initial investment is very high which followed by renovation and installation and further annual operating costs are involved. With high investment, the cost of imaging and treatment overall becomes a factor of high expenditure especially in developing markets. These factors including unclear regulatory guidelines and varied reimbursement policies and short half-life of radiopharmaceuticals restricts the growth of this market.
North America to Dominate this Market
The global nuclear medicine radioisotopes market is segmented by types of radioisotopes, by applications in different indications and geography. Geographically, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America dominated the nuclear medicine radioisotopes market with approximately 40% of the global market share in 2017. The factors such as well-established healthcare facilities and the rise in geriatric population, with rising awareness among people for nuclear medicine treatments and diagnosis contribute to the growth of this market in the region. Moreover, Asia-Pacific region was estimated to register the fastest CAGR through the forecast period, 2018-2023.
Key Developments in the market
December 2017: Caris Life Sciences identified a new mechanism for the treatment of non-Hodgkin lymphoma (NHL) using a single-stranded DNA aptamer, C10.36, specifically binding to heterogeneous nuclear ribonucleoprotein U (hnRNP U).
October 2017: Siemens Healthcare introduced biograph vision PET/CT system, a software platform at the 30th Annual Congress of the European Association of Nuclear Medicine (EANM), to provide a new level of precision in PET/CT imaging.
Major Players: MEDTRONIC plc, GE HEALTHCARE, LANTHEUS MEDICAL IMAGING inc, HOLOGIC inc, CARDINAL HEALTH inc, BAYER HEALTHCARE ag, BRACCO IMAGING spa, NTP RADIOISOTOPES SOC ltd, POSITRON CORPORATION and SIEMENS HEALTHCARE
Reasons to Purchase the Report
Market analysis for the Global Nuclear Medicine Radioisotopes Market, with region-specific assessments and competition analysis on a global and regional scale.
Analyzing various perspectives of the industry with the help of Porter’s five forces analysis.
The treatment type that is expected to dominate the market.
Regions that are expected to witness fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
PDF E-mail From Publisher
Multi User License (2-5 Users) Fulfilled by Publisher