The report "Nuclear Medicine Market Size, Growth by Type (Diagnostic (SPECT - Technetium, PET - F-18), Therapeutic (Beta Emitters - I-131, Alpha Emitters, Brachytherapy - Y-90)), Application (Oncology,Cardiology), Procedures - Global Forecast to 2026 is projected to reach USD 7.5 billion by 2026, at a CAGR of 9.0%.
Browse 324 market data Tables and 27 Figures spread through 253 Pages and in-depth TOC on "Nuclear Medicine Market - Global Forecast to 2026"
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Growth in the nuclear medicine market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer and cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99. However, the short half-life of radiopharmaceuticals reduces their potential adoption, while hospital budget cuts and high equipment prices are expected to limit market growth to a certain extent.
The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.
Therapeutic segment is expected to grow at the highest CAGR
On the basis of type, the nuclear medicine market is segmented into diagnostic and therapeutic. The diagnostic segment accounted for a larger share of the market 2020. The large share of this segment can be attributed to the non-invasiveness, increasing prevalence of cardiovascular diseases and early diagnosis.
Thyroid applications segment is expected to register the highest growth during the forecast period
Based on application, the nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The SPECT applications is further segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications. The thyroid applications segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing incidence and prevalence of thyroid disorders
North America To Witness Significant Growth
North America accounted for the largest share of the nuclear medicine market. A large share of North America can be attributed to The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the region.
Some of the prominent players operating in the market include Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaţý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa)
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