The nuclear medicine market size was USD 5.04 billion in 2020. The market is studious to grow from USD 5.57 billion in 2021 to USD 19.47 billion by 2028 at a CAGR of 19.6% during the 2021-2028 period. This report is provided by Fortune Business Insights™, in its report, titled, “Global Nuclear Medicine, 2021-2028.”
Driving Factors
Technological Progressions in Nuclear Imaging Modalities to Boost Market
One of the fundamental aspects for the nuclear medicine market growth is the augmented consciousness concerning the possible influence of primary and timely diagnosis and the corresponding affirmative sway in the management and treatment of prolonged disorders. Developments in nuclear imaging technology, especially PET/PET-CT, have helped in the extension of applications of this modality beyond oncology to cardiology, neurology, and identification of infections.
There has been a substantial increase in the volume of the PET and SPECT procedures due to these technological advancements. For instance, other improvements such as the development of cadmium zinc telluride (CZT)-based detectors, which helps in the simultaneous viewing of physiological and anatomical structures, is expected to drive the adoption of SPECT-CT systems.
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COVID-19 Impact
COVID-19 Pandemic Hindered Market Revenue Owing to Decreasing Diagnosis Processes
The COVID-19 pandemic adversely influenced the market in 2020. The concerns such as scarcity of workforce & staff, the threat of transmission of COVID-19, and the deterioration in the imaging processes such as PET-CT SPECT procedures posed a test for the market growth in 2020. The decline in the procedures can be accredited to the interruption in supply chains, logistical challenges, and adoption of safety measures, which is difficult to maintain by centers.
Segmentation
On the basis of the type, the Nuclear Medicine is categorized into diagnostic and therapeutic radiopharmaceuticals. The diagnostic radiopharmaceuticals segment is estimated to hold the dominant share of the global market in 2020.
In terms of application, the market America is classified into neurology, cardiology, oncology, and others.
By the end-user, the market is divided into hospitals & clinics, diagnostic centers, and others.
Geographically, the market is branched into North America, Europe, Asia Pacific, and the Rest of the World.
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List of Key Players Covered in the Report
- Lantheus Medical Imaging, Inc. (U.S.)
- Cardinal Health (U.S.)
- Norgine B.V. (Netherlands)
- Nordion (Canada) Inc. (Canada)
- Bayer AG (Germany)
- Curium (France)
- Advanced Accelerator Applications (Novartis AG) (France)
- Bracco Diagnostic Inc. (U.S.)
- Jubilant Pharmova Limited (India)
- GE Healthcare (General Electric Company) (U.S.)
Some major points from Table of Content:
- Introduction
- Market Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Installed Base of PET/PET-CT Scanners – For Key Countries, 2015 and 2019
- Installed Base of Gamma Cameras – For Key Countries, 2019
- PET/PET-CT Procedure Volume –for Key Countries, 2019
- Reimbursement Scenario- For Key Countries
- New Product Launches
- Key Industry Developments
- Pipeline Analysis
- Impact of COVID-19 on the Market
- Global Nuclear Medicine Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Diagnostics
- PET Radiopharmaceuticals
- FDG-PET/18F
- 68Ga
- 68Cu
- 11C
- Others
- SPECT Radiopharmaceuticals
- Technetium-99m
- Iodine-123
- Xenon-133
- Thallium-201
- Others
- Therapeutics
- PET Radiopharmaceuticals
- Diagnostics
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