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Nuclear Medicine Market - Growth, Trends, and Forecasts (2020-2025)

  • ID: 4771722
  • Report
  • May 2020
  • Region: Global
  • 112 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Cardinal Health Inc.
  • Curium
  • GE Healthcare
  • Nordion Inc.
  • Siemens Healthineers AG
  • Triad Isotopes
  • MORE
Nuclear medicine basically deals with the use of radioactive substances in research, diagnosis, and treatment. Increasing incidences of cancer and cardiac ailments are the major drivers for the market studied. Nuclear medicine shows a huge potential in treating cardiac and cancer diseases. According to the National Cancer Institute (NCI) report, it was estimated that 1,735,350 new cases of cancer are diagnosed in the United States in 2018, where an increasing adoption of nuclear medicine. Other factors, such as increasing SPECT and PET applications and growing public awareness for healthcare, are expected to drive the market in the future. Regulatory requirements pose another hurdle to translational research and clinical investigations. In the United States, all pharmacologic agents, including diagnostic radiopharmaceuticals and radio therapeutics, undergo regulatory oversight by the FDA. Radiopharmaceuticals face additional scrutiny and undergo unique regulatory and approval pathways. Sometimes, extensive toxicology testing poses considerable financial burdens for the investigators. Additionally, reimbursement hurdles for the manufacturer and high capital investment are also restraining the market growth.

Key Market Trends

Diagnostics Segment is Expected to Show Better Growth in the Forecast Period.

The diagnostics segment is segmented into SPECT and PET. PET imaging radioisotopes have many applications in clinical neurology, which involve movement disorders, epilepsy, brain tumors, dementia, stroke, and neuronal plasticity. Future applications include early diagnosis of brain metastases, Parkinson syndromes, and neurodegenerative disorders, such as Alzheimer's disease. The market for radioisotopes is expected to be larger in the developing countries because of the increasing awareness among people about radioisotopes, increasing the incidence of chronic diseases, like cancer, and cardiovascular diseases. Hence, owing to these factors, the market is expected to witness rapid growth in the forecast period.

North America is Expected to Dominate the Nuclear Medicine Market Over the Forecast Period

North America is the dominant market for nuclear medicine. Within North America, the United States is the largest consumer market for radioisotopes, and Canada is the largest producer of Tc-99m. The United States was the largest contributor to the North American region, in terms of revenue, and it is expected to retain its dominance, owing to the higher procedural volume and increasing adoption of nuclear medicine for various therapeutic applications.

Asia-Pacific is expected to witness a healthy CAGR during the forecast period. Rise in demand for nuclear medicines in the emerging countries, such as India and China, is due to the rise in disposable income, improving healthcare standards, and favorable reforms in foreign policies.

Competitive Landscape

There is high competition among the players in the global nuclear medicine market. However, this competition is not by virtue of competitive pricing or product differentiation. Additionally, big players of the pharmaceutical and biotechnology industries are leveraging their huge capital reserves to venture into this market, which is further increasing the competition. For instance, in April 2017, IBA Molecular and Mallinckrodt Nuclear Medicine LLC united to create Curium, a world-class provider in nuclear imaging. Various developments have recently been taking place in the market, such as and in May 2018, Curium enhanced its position in the French PET market with the acquisition of Cyclopharma’s French commercial and manufacturing operations.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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FEATURED COMPANIES

  • Cardinal Health Inc.
  • Curium
  • GE Healthcare
  • Nordion Inc.
  • Siemens Healthineers AG
  • Triad Isotopes
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Prevalence of Cancer and Cardiac Disorders
4.2.2 Increasing Demand for Image Guided Procedures and Diagnostics
4.3 Market Restraints
4.3.1 Stringent Regulatory Guidelines
4.3.2 High Cost of the Diagnostic and Therapeutic Equipment and Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Diagnostics
5.1.1.1 Single Photon Emission Computed Tomography (SPECT)
5.1.1.2 Positron Emission Tomography (PET)
5.1.2 Therapeutics
5.1.2.1 Alpha Emitters
5.1.2.2 Beta Emitters
5.1.2.3 Brachytherapy
5.2 By Application
5.2.1 Cardiology
5.2.2 Neurology
5.2.3 Oncology
5.2.4 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Triad Isotopes
6.1.2 Siemens Healthineers AG
6.1.3 Advanced Accelerator Applications
6.1.4 Curium
6.1.5 Cambridge Isotope Laboratories Inc.
6.1.6 Cardinal Health Inc.
6.1.7 GE Healthcare
6.1.8 Nordion Inc.
6.1.9 Isotec Inc. (Sigma-Aldrich)
6.1.10 Lantheus Medical Imaging, Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Triad Isotopes
  • Siemens Healthineers AG
  • Advanced Accelerator Applications
  • Curium
  • Cambridge Isotope Laboratories Inc.
  • Cardinal Health Inc.
  • GE Healthcare
  • Nordion Inc.
  • Isotec Inc. (Sigma-Aldrich)
  • Lantheus Medical Imaging, Inc.
Note: Product cover images may vary from those shown
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