Nuclear medicine has a huge potential in treating cancer and cardiac diseases. The International Agency for Research on Cancer (IARC) predicts that, by 2030, the global burden is expected to increase to 21.7 million new cancer cases and 13 million cancer deaths, due to the growth and aging of the population, apart from other factors, such as smoking, poor diet, physical inactivity, and fewer childbirths. Similarly, cardiovascular disease (CVD) is one of the main causes of death among the adult population, globally. Nuclear medicine plays an important role in the diagnosis and management of patients with chronic diseases, which is a key growth factor for the market studied.
Key Market Trends
Technetium-99m Segment is Expected to Show Better Growth in the Forecast Years
Based on Type, it is segmented into SPECT and PET. The SPECT is further sub-segmented into Technetium-99m, Thallium-201, Iodine-123, Gallium-67, and Others. Technetium 99m is considered as the most widely used single isotope in several diagnostic procedures. Globally, approximately 30 million procedures are carried out every year, with technetium 99m (TC-99m), and this is expected to grow rapidly in the coming years. It is used in SPECT imaging, cardiac ventriculography, brain imaging, bone scans, and 3D scanning techniques. The growth and widespread applications of diagnostic nuclear medicine have been mainly driven by the easy availability of TC-99m. Furthermore, the increasing burden of non-communicable and chronic diseases, such as cancer and cardiac disorders, and the advancement in imaging technologies, such as SPECT/CT are fueling the demand for Technetium-99m in various applications.
North America Dominates the Nuclear Medicine Diagnostics Market
North America region is among the major contributor in this market due to the advancements in technology, and introduction of new radiopharmaceuticals for diagnosis. According to the National Oncology PET Registry, about 84% of more than 1,600 PET facilities in the United States have PET/CT systems. Thus, the emergence of molecular imaging, with new radiopharmaceuticals and new technologies, is likely to result in continued growth in the coming decades. Moreover, rising disease burden is further pushing the need for effective and quick treatment options which is expected to propel the growth of the market, over the forecast period.
Competitive Landscape
The global players in the nuclear medicine diagnostics market are – Bayer AG, Bracco SpA, Cardinal Health Inc., Curium SAS, GE Healthcare, Lantheus Holdings, Inc., NTP Radioisotopes SOC Ltd, and Sotera Health (Nordion, inc.).
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This product will be delivered within 2 business days.
Key Market Trends
Technetium-99m Segment is Expected to Show Better Growth in the Forecast Years
Based on Type, it is segmented into SPECT and PET. The SPECT is further sub-segmented into Technetium-99m, Thallium-201, Iodine-123, Gallium-67, and Others. Technetium 99m is considered as the most widely used single isotope in several diagnostic procedures. Globally, approximately 30 million procedures are carried out every year, with technetium 99m (TC-99m), and this is expected to grow rapidly in the coming years. It is used in SPECT imaging, cardiac ventriculography, brain imaging, bone scans, and 3D scanning techniques. The growth and widespread applications of diagnostic nuclear medicine have been mainly driven by the easy availability of TC-99m. Furthermore, the increasing burden of non-communicable and chronic diseases, such as cancer and cardiac disorders, and the advancement in imaging technologies, such as SPECT/CT are fueling the demand for Technetium-99m in various applications.
North America Dominates the Nuclear Medicine Diagnostics Market
North America region is among the major contributor in this market due to the advancements in technology, and introduction of new radiopharmaceuticals for diagnosis. According to the National Oncology PET Registry, about 84% of more than 1,600 PET facilities in the United States have PET/CT systems. Thus, the emergence of molecular imaging, with new radiopharmaceuticals and new technologies, is likely to result in continued growth in the coming decades. Moreover, rising disease burden is further pushing the need for effective and quick treatment options which is expected to propel the growth of the market, over the forecast period.
Competitive Landscape
The global players in the nuclear medicine diagnostics market are – Bayer AG, Bracco SpA, Cardinal Health Inc., Curium SAS, GE Healthcare, Lantheus Holdings, Inc., NTP Radioisotopes SOC Ltd, and Sotera Health (Nordion, inc.).
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format.
- Report customization as per the client's requirements.
- 3 months of analyst support.
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bayer AG
- Bracco SpA
- Cardinal Health Inc.
- Curium SAS
- GE Healthcare
- Lantheus Holdings, Inc.
- NTP Radioisotopes SOC Ltd
- Sotera Health (Nordion, inc.)
Methodology
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