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Nuclear Medicine/Radiopharmaceuticals Market worth $6.96 Billion by 2020
The report “Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT - Technetium, PET - F-18), Therapeutic (Beta Emitters - I-131, Alpha Emitters, Brachytherapy - Y-90), by Application (Oncology, Thyroid, Cardiology) - Global Forecasts to 2020”, analyzes and studies the major market drivers, restraints, challenges, and opportunities.
Browse 113 market data tables and 55 figures spread through 230 pages and in-depth TOC on “Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT - Technetium, PET - F-18), Therapeutic (Beta Emitters - I-131, Alpha Emitters, Brachytherapy - Y-90), by Application (Oncology, Thyroid, Cardiology) - Global Forecasts to 2020"
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This report studies the global nuclear medicine/radiopharmaceuticals market for the forecast period of 2015 to 2020. This market is expected to reach $6.96 Billion by 2020 from $4.50 Billion in 2015, at a CAGR of 9.1% during the forecast period.
The global nuclear medicine/radiopharmaceuticals market is segmented on the basis of type, application, and region.
On the basis of type, the nuclear medicine/radiopharmaceuticals market is categorized into diagnostics and therapeutics segments. In 2014, the diagnostics segment accounted for the largest share of the nuclear medicine/radiopharmaceuticals market owing to widespread use of radiopharmaceutical isotopes in diagnostic instruments like PET and SPECT. The diagnostics market is further segmented into SPECT and PET segments. In 2014, the SPECT segment accounted for the largest share of the nuclear medicine/radiopharmaceuticals diagnostics market. On the other hand, the therapeutics market is further segmented into beta emitters, alpha emitters, and brachytherapy isotopes. In 2014, the beta emitters segment accounted for the largest share of the nuclear medicine/radiopharmaceuticals therapeutics market. The year 2013 marked the advent of alpha emitters, which is likely to drive the growth of the therapeutics market.
On the basis of applications, the nuclear medicine/radiopharmaceuticals market is segmented into diagnostics (SPECT and PET) and therapeutics applications. In 2014, the cardiology segment accounted for the largest share of the SPECT market; whereas, the oncology segment accounted for the largest share of the PET market. On the other hand, the thyroid segment accounted for the largest share of the therapeutics market.
On the basis of regions, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW: Latin America, the Middle East, and Africa). In 2014, North America accounted for the largest share of the nuclear medicine/radiopharmaceuticals market, followed by Asia-Pacific and Europe.
Factors driving the nuclear medicine/radiopharmaceuticals market include the increasing use of SPECT and PET scans results, advances in radiotracers, alpha radio immunotherapy-based targeted cancer treatment, and increasing incidences of cancer and cardiac ailments which boost the demand for radiopharmaceuticals. However, factors such as shorter half-life of radiopharmaceuticals, stringent regulatory guidelines, and competition from conventional diagnostic procedures are hindering the growth of this market.
Some of the major players in the nuclear medicine/radiopharmaceuticals market include Cardinal Health, Inc. (U.S.), GE Healthcare (U.K.), Bracco Imaging S.p.A (Italy), Eczacibasi-Monrol Nuclear Products (Turkey), Nordion, Inc. (Canada), Advanced Accelerator Applications S.A. (France), Bayer Healthcare (Germany), Lantheus Medical Imaging, Inc. (U.S.), IBA Molecular Imaging (Belgium), and Mallinckrodt plc (Ireland).
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