The Nuclear Medicine Market size is projected to reach USD 9.54 billion by 2026. According to a report published by Fortune Business Insights, titled “Nuclear Medicine Market Size, Share & Industry Analysis, By Type (PET Radiopharmaceuticals, SPECT Radiopharmaceuticals), By Application (Neurology, Cardiology, Oncology, and Others), By End User (Hospitals & Clinics, Diagnostic Centres, and Others) and Regional Forecast, 2019-2026,” the market was valued at USD 4.86 billion in 2018. Driven by increasing number of successful clinical trials, the market will exhibit a CAGR of 9.0% from 2019-2026.
Growth Factors:
- Radiopharmaceuticals are substances that are used to diagnose specific medical problems or diseases. Increasing imaging capabilities and efficiencies have led to a wide product adoption across the world. Increasing number of successful clinical trials associated with radiopharmaceuticals will fuel the demand for the product.
- Recent drug application area discoveries have showcased promise for the companies operating in the market. Technological advancements in nuclear imaging and their applications in diagnosis of cancer and other serious diseases have opened up a huge potential for growth.
- Growing awareness regarding the adverse effects of chronic diseases, and the need for early diagnosis will aid market growth. The advancements in imaging systems have played a major role in the growth of the market.
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Leading Players operating in the market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Lantheus Medical Imaging, Inc.
- Cardinal Health
- Norgine B.V.
- Curium
- Advanced Accelerator Applications (Novartis AG)
- Bracco Diagnostic Inc.
- Jubilant Life Sciences Limited
- GE Healthcare (General Electric Company)
Key Industry Developements:
- October 2019: Fuzionaire Diagnostics announces a partnership with Japan Medical Isotope Technology Development K.K. for the launch of Fuzionaire Radioisotope Technologies K.K., specializing in diagnostic radiopharmaceuticals.
- October 2019: GE Healthcare and Theragnostics announced a global commercial partnership for Theragnostics’ novel PET tracer called the GalliProst, a late-stage prostate-specific membrane antigen (PSMA) PET/CT imaging agent.
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Reasons to Purchase this Report:
- Comprehensive analysis of the Nuclear Medicine Market growth drivers, obstacles, opportunities, and other related challenges.
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- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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