The market for Global Nuclear Medicine Diagnostics is valued at USD 12,432 million in 2016 and it is projected to reach USD 19,766 million at a CAGR of 12.29% during the forecast period 2016 to 2020.
Nuclear medicine falls under the field of Molecular imaging, which involves usage of very small amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease. In nuclear medicine imaging, the radioisotopes are detected by the special type of cameras attached to the computer which in turn provides very precise pictures of the area of the body examined.
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The market of radiopharmaceuticals is dominated by Diagnostic radioisotopes and Therapeutic radioisotopes. Diagnostic radioisotope market basically covers SPECT and PET radioisotopes. Based on market share estimation 90% of the radiopharmaceuticals market is dominated by diagnostic radioisotopes while therapeutic radioisotopes contribute 10% of the market. SPECT market is taken by Technetium- 99m (Tc-99), Thallium-201(TL-201) and Iodine (I-123). PET market is dominated by Fluorine- 18 and Rubidium- 82(Rb-82).
North America is the dominant market for diagnostic radioisotopes. Within North America, US is the largest consumer market for radioisotopes and Canada is the largest producer of Tc-99m. India and China hold a potential market for radioisotope due to rising healthcare and increasing demand for different radioisotopes in various treatments and applications. Some of the major players in the radiopharmaceuticals market are Covidien Plc (Ireland), GE Healthcare (U.K.), IBA Group (Belgium), Lantheus Medical Imaging, Inc. (U.S.), Nordion Inc. (Canada), Hitachi (Japan) and Siemens Healthcare (PETNET) (Germany).
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