According to the report Latin America Nuclear Medicine Radiopharmaceuticals Market, published by Market Data Forecast, the Latin America market is projected to reach USD 1.06 billion by 2021, at a CAGR of 12.4% from 2016 to 2021.
Nuclear medicine is analysed under the field of Molecular imaging, involving the utilization of traces of radioactive material (radiopharmaceuticals) to diagnose and treat diseases.
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Latin America Nuclear Medicine Radiopharmaceuticals Market: Drivers & Restraints
Steadily rising cases of cancer and cardiac ailments, technological advancements, growing demand for SPECT and PET applications coupled with rising public awareness for healthcare are driving the growth of this market. The emergence of integrated X ray tomography (CT) into SPECT has recently emerged as an excellent diagnostic tool in medical imaging and is likely to be a substantial factor propelling the growth of this market.
Stringent regulatory frameworks inhibit the translational research and clinical investigations. Secondary issues like reimbursement are capable of hindering the growth of this market. Further, lesser half-life of radiopharmaceuticals and competition from conventional diagnostic procedures are also hampering the Latin America nuclear medicine Radiopharmaceuticals market.
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Latin America Nuclear Medicine Radiopharmaceuticals Market: Segmentation
By Diagnostic radioisotopes
- SPECT (Technetium-99m, Thallium-201 Gallium-67, Iodine)
- PET (Fluorine-18, Rubidium-82)
By Therapeutic radioisotopes
- Beta emitters (Iodine-131, Yttrium-90, Samarium-153, Rhenium-186, Lutetium-177)
- Alpha Emitters (Radium-223)
- Brachytherapy (Cesium-131, Iodine-125, Palladium-103, Iridium-192)
- neurology oncology
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Latin America Nuclear Medicine Radiopharmaceuticals Market: Overview
Radiopharmaceuticals market is dominated by diagnostic radioisotopes with a market share of 90 % however the therapeutic radioisotopes contribute a lesser portion of around 10% of the market. The F-18 market is majorly abetted by F-18 FDG tracers although this market is enriched with future tracers such as F-18 Florbetapir and F-18 Choline. The reliable clinical outcomes of these tracers have been gaining the confidence of major research institutes and PET isotope players. Ga-68 and Rb-82 are two new potential isotopes in the PET diagnostic market, making sure the high growth of the diagnostics segment. Diagnosis of coronary artery disease, bone metastasis, and Alzheimer’s disease are the most promising signs for the future PET radioisotopes market.
Latin America Nuclear Medicine Radiopharmaceuticals Market: Region-wise Outlook
By geography, the Latin America Market is categorized into four regions namely, Argentina, Brazil, Chile and Mexico. Latin America is the fourth largest market shareholder worldwide.
Key Questions Answered
- What is the current and future Latin America Nuclear Medicine Radiopharmaceuticals market outlook in Latin America? What trends are affecting the Latin American market?
- What is the competitive landscape and market share of major players in the Latin America Nuclear Medicine Radiopharmaceuticals space in Latin America?
- What are the key, high growth markets that Latin America Nuclear Medicine Radiopharmaceuticals manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Latin America Nuclear Medicine Radiopharmaceuticals currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Latin America Nuclear Medicine Radiopharmaceuticals?
- What are the challenges and barriers that have hindered widespread adoption of Latin America Nuclear Medicine Radiopharmaceuticals?
Latin America Nuclear Medicine Radiopharmaceuticals Market: Key Players
Few of the primary players commanding the Latin America nuclear medicine market are GE Healthcare, Hologic Inc., Medix Inc., Segami Corporation, Positron Corporation, Bracco Imaging S.p.A, Naviscan Inc., Bayer Healthcare, Lantheus Medical Imaging, Inc. and IBA Molecular Imaging.
Reasons to buy Latin America Nuclear Medicine Radiopharmaceuticals Market Report:
- regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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