Global Nuclear Medicine Market Size was valued nearly USD 3.67 billion by 2016 and is estimated to reach up to USD XX.XX billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 5.12% during the forecast period, i.e. 2017-2025.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Nuclear Medicine is also termed radiopharmaceuticals, nuclear medicine imaging uses small amounts of radioactive materials called radiotracers that are typically injected into the bloodstream, inhaled or swallowed. The radiotracer travels through the area being examined and gives off energy in the form of gamma rays which are detected by a special camera and a computer to create images of the inside of your body.

Market Dynamics

Nuclear Medicine market was valued at USD 3.67 million in 2016. The nuclear medicine market is supposed to gain traction owning to the factors such as increased need for proper diagnosis methods, increased demand for the therapies associated to the usage of nuclear medicine usage, and rising prevalence of cardiovascular diseases, and various oncology diseases. For instance, according to WHO, Globally, 8.8 million people died from cancer in 2015. Cancer accounts for one out of every six deaths globally.

In addition, continuous research and development for the development of various therapies is widening the scope for the use of various radioisotopes for the diagnosis and treatment of various disorders in the near future to augment the market growth. However, the higher cost of the treatment and therapies, and short life span of the radiopharmaceutical products would impede the market growth during the forecast period.  

Segment Analysis 

Based on the type, the global nuclear medicine market is segmented as Diagnostic, Therapeutic. The types are further  sub-segmented as SPECT (Technetium), PET (F-18), and Beta Emitters (I-131), Alpha Emitters, Brachytherapy(Y-90). Diagnostic segment to be the major contributor in the global market, the growth of this segment is majorly driven by the increasing the demand for SPECT (Technetium).

On the basis of application, the in Nuclear Medicine market segmented as Diagnostic applications include cardiology, neurology, oncology, thyroid, and lymphoma; oncology is the largest segment by diagnostic application, while cardiology is expected to register strong growth over the forecast period.Prominent therapeutic applications include thyroid, bone metastasis, lymphoma, and endocrine tumor. While bone metastasis forms the largest segment by therapeutic applications, the thyroid segment is slated to be highly lucrative over the coming years. Nuclear medicine diagnostic techniques provide better insight of a disease compared to traditionally use diagnostic methods such as including x-ray, ultrasound, CT, and MRI. High image clarity enables physicians to accurately decide the course of treatments, minimizing complications in trial and error treatments.

Regional Analysis of Nuclear Medicine Market

North America to hold the largest market share in this industry globally. This can be attributed to advanced healthcare infrastructure in the region, especially in U.S. Rising burden of cancer and various cardiovascular disorders is also a high impact rendering factor driving the market.

Global Nuclear Medicine Market Size, Share Analysis By Region 2017

While, Asia Pacific is expected to favor the growing Nuclear Medicine market owning to the rising incidences of various cardiovascular disorder, and demand for nuclear medicine is increasing in emerging markets such as China and India due to rising disposable income, improving healthcare standards, and favorable reforms in foreign policies. Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Nuclear Medicine Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Nuclear Medicine Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in nuclear medicine market are included as primary sources of the supply side.

After performing comprehensive engineering of nuclear medicine market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Key Players

Major players operating in global Nuclear Medicine market include GE Healthcare, Eckert & Ziegler Group, Jubilant Life Sciences, Mallinckrodt Pharmaceuticals, Bracco Imaging S.p.A; Nordion, Inc. The Institute of Radioelements,  Eczacibasi-Monro,  NTP Radioisotopes SOC Ltd., and Australian Nuclear Science & Technology Organization (ANSTO)

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