The global nuclear medicine market size is expected to reach
USD 12.6 billion by 2027, expanding at a CAGR of 9.5%, according to a new
report by Grand View Research, Inc. Research and development of advanced
technologies by the key players for diagnosis and treatment of diseases is expected
to drive the radiopharmaceuticals market.
For instance, in May 2019, GE Healthcare with
Indi Molecular, Inc., collaborated to develop Protein Catalyzed Capture (PCC)
technology and immune cell-targeted PET tracer candidates. This diagnostic tool
will help in better understanding of patient’s immune cell and in early
treatment response.
Rising prevalence of cancer and cardiovascular
diseases is one of the major factors responsible for market growth. Moreover,
high prevalence of cancer in emerging Asian countries is creating huge demand
for radiopharmaceuticals in diagnosing the disease. For instance, according to
the GLOBOCAN, in 2018, approximately 48.4% of cancer cases were registered in
Asia.
In addition, presence of standard guidelines
prepared by regulatory authorities for radiopharmaceuticals is expected to
accelerate market growth. For instance, in August 2019, FDA published a
guideline for non-clinical studies and product labelling that are not covered
by FDA and ICH guidelines for radiopharmaceuticals used in the treatment of
cancer.
Manufacturers are focusing on development of
innovative technologies to produce medical isotopes that can fulfill the
increasing demand for nuclear medicines. For instance, in October 2018, with
the support of ASML, The Institute For Radioelements (IRE) developed and built
an electron beamline to manufacture medical isotope molybdenum 99 (Mo-99). Due
to this innovative technology, the process of production is waste-free and
non-fission.
In addition, research centers and hospitals
are launching novel nuclear medicine techniques to treat various diseases at an
affordable cost as compared to the existing treatments. For instance, in August
2017, the Kovai Medical Centre and Hospital (KMCH) had launched Rhenium 188
Lipiodol to treat liver cancer and other diseases such as metastatic bone pain,
rheumatoid arthritis, and hemophilic bleeding joints at low cost with lesser
hospitalization.
Browse full research report on Nuclear
Medicine Market:
https://www.grandviewresearch.com/industry-analysis/nuclear-medicines-market
Further key
findings from the study suggest:
- In 2019, the SPECT segment had dominated the
market owing to integration of SPECT with X-ray/CT that has gained more
acceptance and proved to be useful in many clinical situations due to its
high accuracy
- PET diagnostic nuclear medicine is expected to
witness the fastest growth over the forecast period owing to the
increasing adoption of high resolution PET scanners
- In case of the therapeutic segment,
brachytherapy is anticipated to be the fastest growing segment due to the
higher radiation protection as compared to other treatment options
- The oncology application segment dominated the
nuclear medicine market in 2019 owing to the presence of pipeline drugs
and high prevalence of cancer
- The market in Asia Pacific is projected to
witness the fastest growth during the forecast period owing to the high
unmet needs and development of radiopharmaceuticals for diagnosis and
treatment of various diseases
- Key players in the market include companies
such as Eckert and Ziegler Group Nordion, Inc.; Bracco Imaging S.p.A.; and
GE Healthcare as well as government organizations such as Department of
Atomic Energy and Australian Nuclear Science and Technology Organization
(ANSTO).
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/nuclear-medicines-market/request/rs1
Grand
View Research has segmented the global nuclear medicine market on the basis of
product, application, and region:
Nuclear
Medicine/Radiopharmaceuticals Product Outlook (Revenue, USD Million, 2016 -
2027)
- Diagnostic products
- SPECT
- TC-99m
- TL-201
- GA-67
- I-123
- Other SPECT
products
- PET
- F-18
- SR-82/RB-82
- Other PET products
- Therapeutic Products
- Alpha Emitters
- RA-223
- Other alpha
emitters
- Beta Emitters
- I-131
- Y-90
- SM-153
- Re-186
- Lu-117
- Other beta
emitters
- Brachytherapy
- Cesium-131
- Iodine-125
- Palladium-103
- Iridium-192
- Other
brachytherapy products
Nuclear
Medicine/Radiopharmaceuticals Application Outlook (Revenue, USD Million, 2016 -
2027)
- Cardiology
- Neurology
- Oncology
- Thyroid
- Lymphoma
- Bone Metastasis
- Endocrine Tumor
- Others
Nuclear
Medicine/Radiopharmaceuticals Regional Outlook (Revenue, USD Million, 2016 -
2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- Japan
- China
- India
- Australia
- Singapore
- Malaysia
- New Zealand
- South Korea
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East &
Africa
- Saudi Arabia
- South Africa
- Israel
- Turkey
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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