Global Nuclear Medicine Market 2019-2025
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Global Nuclear Medicine Size, Share & Trends Analysis Report by Technology (PET and SPECT) by Therapeutics (Alpha Emitters, Beta Emitters, and Brachytherapy), and by Application (Thyroid, Neurology, Oncology, Cardiology, and Others) and Forecast, 2019- 2025
Nuclear medicine is a branch of medicine that uses radioactive substances for the diagnosis and treatment of diseases. To study the disease progression and track the tissue function of the some of the chronic diseases such as neurological disorders, oncology, cardiovascular radioisotopes, the two widely known technologies used in nuclear medicine field includes Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET). Increasing application of the radioisotopes for the development of the imaging scanners along with the rising prevalence of chronic disorders is propelling the growth of the global nuclear medicine market.
The global nuclear medicine market is segmented on the basis of technology, therapeutics, and application. In terms of technology, the market is bifurcated into PET and SPECT. Based on the therapeutics, the market is fragmented into alpha emitters, beta emitters, and brachytherapy. Furthermore, on the basis of application, the global market is segmented into the thyroid, neurology, oncology, cardiology, and others. Among these applications, the oncology segment is expected to hold a significant share in the nuclear medicine market. This is due to a rise in the application of the F-18 isotope for the treatment of cancer. The rise in prevalence of cancer across the globe is creating demand for the treatment and diagnostic devices, which in turn, is contributing to the segmental growth in the nuclear medicine market.
The global nuclear medicine market is segmented on the basis of geography into North America, Asia Pacific, Europe, and Rest of the World. North America accounts to contribute a considerable share in the nuclear medicine market due to the significant presence of investment groups that are investing huge amounts on the R&D sector of technologically advanced treatment procedures. Asia-Pacific is expected to witness lucrative growth in the nuclear medicine market during the forecast period. Increase in the incidence of cancer and cardiac disease in the region has encouraged the government and pharmaceutical companies in the development of effective solutions for the treatment of such chronic diseases.
The key players operating in the global nuclear medicine market include Cardinal Health, Inc., Curium Pharma, Lantheus Medical Imaging, Inc., Advanced Accelerator Applications S.A., Jubilant Life Sciences Ltd., and General Electric Co. These market players are adopting various strategies to develop innovative solutions for the evolving nuclear medicine market. For instance, in June 2018, General Electric Co. has showcased software solutions and new molecular imaging in the Society of Nuclear Medicine and Molecular Imaging (SNMMI). This has benefited clinics in providing personalized, precise, and quantitative data.
The market study of the global nuclear medicine market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for nuclear medicine manufacturers and suppliers and government organization for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.