Cardinal Health (US), Curium (France) and GE Healthcare (US) are Leading Players in the North American Nuclear Medicine/Radiopharmaceuticals Market
The North American nuclear medicine market is expected to reach USD 2.7 billion by 2024 from an estimated USD 2.2 billion in 2019, growing at a CAGR of 4.1% during the forecast period. Growth in the North American nuclear medicine market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer & cardiovascular diseases 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 major players in the North American nuclear medicine market are Cardinal Health (US), GE Healthcare (US), Curium (France), and Bayer AG (German). An analysis of the market developments between 2017 and 2019 revealed that product launches, partnerships, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the North American nuclear medicine market.
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Cardinal Health (US) is one of the major players in the North American nuclear medicine market. Cardinal Health is a healthcare services company providing pharmaceutical and medical products & services to healthcare providers. Cardinal Health operates in the US, Canada, the British Virgin Islands, Malaysia, Singapore, the UK, Luxembourg, Thailand, Switzerland, Ireland, and Belgium through its 150 subsidiaries. Its global presence enables the company to operate the world’s largest network of nuclear pharmacies and expand its PET agent manufacturing capabilities to support new drug development and the growth of personalized medicine. The company has expanded its production capabilities in the US by opening three new cyclotrons in Sacramento, Portland, and Chicago.
Curium (France) is another major player in the North American nuclear medicine market. Curium started its operations in 2017 through the union of two major players—IBA Molecular (France) and Mallinckrodt Pharmaceuticals (Ireland)—in the nuclear medicine market. Curium focuses on innovation, and it invested ~USD 3 million to build a new R&D laboratory in 2017. The company is planning to introduce four new products which are likely to lead to a multifold increase in its revenue. With a strong, experienced workforce that has an extensive background in nuclear medicine and a steady focus on innovation, the company is likely to dominate the global nuclear medicine market in the coming years.
GE Healthcare (US) has a huge network of radiopharmacies and a robust customer base in approximately 175 countries, primarily operating in North America, Europe, the Pacific Basin, the Americas, and the Middle East & Africa. Some major subsidiaries of the company are GE Healthcare USA Holdings, GE Healthcare (Japan), GE Healthcare Biosciences AB (US), and GE Healthcare AS (Norway). The company’s robust portfolio for the nuclear medicine market, a large number of subsidiaries, and its focus on customer satisfaction have contributed to its large share in the North American nuclear medicine market.
Related Reports:
North American Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT - Technetium, PET- F-18), Therapeutic (Beta Emitters – I-131, Alpha Emitters, Brachytherapy – Y-90)), Application (Oncology, Cardiology) - Forecasts to 2024
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