Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the nuclear medicine market provides an in-depth analysis
of segments and sub-segments in the global as well as regional nuclear medicine
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional nuclear medicine market over the short
term as well as the long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global nuclear medicine market. According
to the report, the global nuclear medicine market is projected to grow at a
CAGR of nearly 10% over the forecast period of 2022-2028.
The nuclear medicine market was valued
at about USD 8 billion in 2022 and is expected to reach over USD 13 billion in
2028, with a CAGR of nearly 10% during the forecast period. As nuclear imaging
technology continues to advance, the role of radiopharmaceuticals becomes ever
more important. Doctors use nuclear medicine to diagnose, evaluate, and treat
various diseases such as cancer, heart disease, gastrointestinal, endocrine, or
neurological disorders, and several other conditions. Nuclear medicine exams
pinpoint molecular activity which gives them the potential to find disease in
its earliest stages. Nuclear medicine imaging procedures are used by Physicians
to visualize the structure and function of an organ, tissue, bone, or system
within the body.
The rising incidence of cancer is
the key driving factor for the nuclear medicine market. Cancer is among the
leading causes of death worldwide. In 2021, there were 19.3 million new cases
and 10.0 million cancer-related deaths in the world. The number of new cancer
cases per year is anticipated to rise to 29.5 million by 2040 and the number of
cancer-related deaths to 16.4 million. Furthermore, the increasing prevalence
of cardiovascular diseases is also driving the market growth. According to WHO,
cardiovascular diseases are the number 1 cause of death worldwide, causing an
estimated 17.9 million deaths every year. However, the limited number of
trained medical personnel is restraining the market. Moreover, the use of
radiopharmaceuticals in neurological applications is providing growth
opportunities to the market players.
The COVID-19 pandemic has caused
serious disruptions to the healthcare system and has revealed substantial
healthcare disparities. The hospitals gave preference to COVID-19 cases over patients
with other less-severe health conditions. However, with the global surge in the
COVID-19 pandemic, it has become inevitable for everyone, inclusive of nuclear
medicine personnel, to play their role in combating and containing its
transmission. This is positively impacted the global nuclear medicine market.
Among the regions, North America
holds the largest market share of the nuclear medicine market. The large share
of the North American region attributes to the availability of better
healthcare infrastructure, and the presence of key players in the market.
Professional radiology organizations, such as The American Board of Radiology
(ABR), the American College of Radiology (ACR), and the Radiological Society of
North America are present in the United States. These organizations are playing
increasing roles in setting professional standards and providing education for
nuclear medicine professionals. Asia-Pacific region is the fastest-growing
market among the regions during the forecast owing to the increasing demand for
standardized world-class medical facilities, and increasing healthcare spending
ability among people.
The report on the global nuclear
medicine market covers segments such as product, and application. On the basis
of product, the sub-markets include diagnostic products, and therapeutic
products. On the basis of application, the sub-markets include cardiology,
neurology, oncology, thyroid, lymphoma, and others.
The report provides profiles of
the companies in the market such as GE Healthcare, Mallinckrodt plc., Norgine
B.V., Medtronic, Inc., Bayer AG, Cardinal Health, Inc., Lantheus Medical
Imaging, Inc., IBA Group, Nordion, Inc., and Advanced Accelerator Applications
S.A..
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the nuclear medicine market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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