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Global Nuclear Medicine Market Size, Share, Price, Forecast: By Type: Diagnostic Nuclear Medicine, Therapeutic Nuclear Medicine; By Application: Oncology, Cardiology, Neurology, Others; By End User: Hospitals and Clinics, Diagnostic Centres, Academic Research Institutions, Others; Regional Analysis; Supplier Landscape; 2024-2032
Global Nuclear Medicine Market Outlook
The nuclear medicine market size was valued at USD 9.15 billion in 2023, driven by the rise in the geriatric population across the globe. The market is anticipated to grow at a CAGR of 11.7% during the forecast period of 2024-2032 to achieve a value of USD 24.81 billion by 2032.
Nuclear Medicine: Introduction
Nuclear medicine radioactive tracers (radiopharmaceuticals) are used to examine regular body functions. Nuclear medicine is used to diagnose and treat diseases after the diagnosis. Healthcare professionals use especially designed cameras with which they track the path of these radioactive tracers.
In nuclear medicine, there are two most common modalities that are being used, which are Single Photon Emission Computed Tomography or SPECT and Positron Emission Tomography or PET scans. To perform diagnostic studies or experiments, a radioactive tracer is put in the human body by intravenous injection and then this radioactive tracer is tracked to check the path in which it is moving. There are multiple ways in which a radioactive tracer may be administered by a human body. A radioactive tracer could be administered by injections, by inhalation, by oral ingestion, or it could also be injected into an organ directly.
It depends on the disease which is to be studied that in which mode the tracer would be ingested. The tracer that would be most appropriate for a particular condition in order to provide specific and reliable information on a patient’s medical condition being is chosen by the nuclear medicine physician. It depends on the tracer that is used to identify whether the patient receives a SPECT or PET scan.
Global Nuclear Medicine Market Analysis
The increasing advancements in the technologies that are being used to diagnose and treat the disease are aiding the growth of the market. The rising adoption of new nuclear-medicine-based devices is also used to address treatment needs of patients.
Additionally, new nuclear medicine centres getting launched and providing accessibility to nuclear medicine treatments worldwide are further expected to aid the global nuclear medicine market growth. Some other key factors propelling market growth include increasing collaborations and research partnerships to further study the role and potential of nuclear medicine in treatment of diseases. Factors like application of positron emission tomography (PET), single-photon emission computerized tomography (SPECT), along with the rising awareness of healthcare amongst people, are likely to propel the global nuclear medicine market expansion. A revolution has occurred in the market at a large spectrum, including patient care applications, hardware, software, and novel radiopharmaceuticals.
Some clinical trials for novel diagnostic and therapeutic radiopharmaceuticals are also under the process across the world, including the shared industry and industry-academic ventures. International societies including the European Association of Nuclear Medicine (EANM) have come up with a framework for high quality nuclear medicine services in future.
Global Nuclear Medicine Market Segmentations
Market Breakup by Type
- Diagnostic Nuclear Medicine
- SPECT (Single-Photon Emission Computed Tomography)
- PET (Positron Emission Tomography) Radiopharmaceuticals
- Therapeutic Nuclear Medicine
- Beta Emitters
- Alpha Emitters
- Brachytherapy Isotopes
Market Breakup by Application
- Oncology
- Cardiology
- Neurology
- Others
Market Breakup by End User
- Hospitals and Clinics
- Diagnostic Centres
- Academic Research Institutions
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Nuclear Medicine Market Overview
There are several major factors that are driving the market growth, including the availability of a strong product pipeline and the increasing initiatives being taken by government to improve the access to nuclear medicine.
Additionally, the increasing rate of SPECT/PET scanners being installed in hospital facilities is a key factor for the escalating numbers of nuclear medicine procedures being conducted in hospitals. Some other factors supporting the nuclear medicine market expansion include the increasing prevalence of cancer and cardiovascular disease, where majority cases can be prevented through early detection and treatment; nuclear medicine plays an evident and prominent role in this area.
Global Nuclear Medicine Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- GE HealthCare
- Bayer AG
- Lantheus
- Cardinal Health, Inc.
- Bracco
- Curium
- Advanced Accelerator Applications (A Novartis Company)
- Nordion (Canada) Inc.
- Northstar Medical Radioisotopes
- Isotopia Molecular Imaging Limited
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Nuclear Medicine Market Overview
3.1 Global Nuclear Medicine Market Historical Value (2017-2023)
3.2 Global Nuclear Medicine Market Forecast Value (2024-2032)
4 Global Nuclear Medicine Market Landscape
4.1 Global Nuclear Medicine Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Nuclear Medicine Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Application
5 Global Nuclear Medicine Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Nuclear Medicine Market Segmentation
6.1 Global Nuclear Medicine Market by Type
6.1.1 Market Overview
6.1.2 Diagnostic Nuclear Medicine
6.1.2.1 SPECT (Single-Photon Emission Computed Tomography)
6.1.2.2 PET (Positron Emission Tomography) Radiopharmaceuticals
6.1.3 Therapeutic Nuclear Medicine
6.1.3.1 Beta Emitters
6.1.3.2 Alpha Emitters
6.1.3.3 Brachytherapy Isotopes
6.2 Global Nuclear Medicine Market by Application
6.2.1 Market Overview
6.2.2 Oncology
6.2.3 Cardiology
6.2.4 Neurology
6.2.5 Others
6.3 Global Nuclear Medicine Market by End User
6.3.1 Market Overview
6.3.2 Hospitals and Clinics
6.3.3 Diagnostic Centres
6.3.4 Academic Research Institutions
6.3.5 Others
6.4 Global Nuclear Medicine Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Nuclear Medicine Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Nuclear Medicine Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Nuclear Medicine Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Nuclear Medicine Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Nuclear Medicine Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 GE HealthCare
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Bayer AG
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Lantheus
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Cardinal Health, Inc.
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Bracco
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Curium
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Advanced Accelerator Applications (A Novartis Company)
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Nordion (Canada) Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Northstar Medical Radioisotopes
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Isotopia Molecular Imaging Limited
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
18 Global Nuclear Medicine Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 9.15 billion in 2023 driven the rising prevalence of cancer and cardiovascular diseases.
The market is likely to grow at a CAGR of 11.7% during the forecast period of 2024-2032 to achieve a value of USD 24.81 billion by 2032.
The increasing prevalence of cancer and cardiovascular disease, along with the rising initiatives by the governments to improve the access to nuclear medicines, are among the major drivers for the market.
The adoption of new nuclear-medicine-based devices and clinical trials being under process for future innovative services in the diagnosis and treatment of disease are among the key trends driving the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
The different types of nuclear medicine in the market include diagnostic nuclear medicine and therapeutic nuclear medicine.
They find wide application in oncology, cardiology, and neurology, among others.
The different types of end users in the market include hospitals and clinics, diagnostic centres, and academic research institutions, among others.
Key players involved in the market are GE HealthCare, Bayer AG, Lantheus, Cardinal Health, Inc., Bracco, Curium, Advanced Accelerator Applications (A Novartis Company), Nordion (Canada) Inc., Northstar Medical Radioisotopes, and Isotopia Molecular Imaging Limited.
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