Global Nuclear Medicine/Radiopharmaceutical Market to 2024 - A $9.36 Billion Opportunity by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 24, 2018--The “Nuclear Medicine/Radiopharmaceutical Global Market - Forecast To 2024” report has been added to ResearchAndMarkets.com’s offering.
The nuclear medicine global market is estimated to reach $9,367.8 million by 2024 growing at mid single digit CAGR.
Increased radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, abundance of radiopharmaceuticals, advancement in imaging technology (hybrid imaging) and alpha therapy based targeted cancer treatment is boosting nuclear medicine market growth.
In addition, increasing need in emerging markets, production of radiopharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipments are the opportunities likely to propel the growth of nuclear medicine market.
Nuclear medicinal market is classified based on modality into diagnosis-therapeutics. Diagnostics market held the largest market revenue in 2017 and is expected grow at single digit CAGR due to increase in SPECT and PET procedures. The therapeutics segment is expected to be the fastest growing segment at high double digit CAGR from 2017 to 2024 due to technological advancements in targeted treatment of cancers. Potential new radioisotopes in pipeline and advancement in neurological treatments are the key factors driving the growth of the therapeutics market.
PET is the fastest growing segment at mid single digit CAGR from 2017 to 2024 due to increase in adoption of cyclotron for production of PET isotopes increasing its availability.
Therapeutic nuclear medicine market is segmented based on radiation type into alpha radiation, beta radiation and brachytherapy. Alpha radiation accounted largest share in 2017 and is the fastest growing market with projected high double digit CAGR from 2017 to 2024 due to new approval of Ra-223 based cold kits by FDA and other regulatory agencies.
Nuclear medicine based on end-user is segmented into hospitals, ambulatory centers, diagnostic centers and others. Hospital accounted the largest share in 2017 and is the fastest growing market projected with CAGR of 7.2% from 2017 to 2024 due to readily availability of cyclotrons for generation of isotope and use of advanced hybrid imaging.
The stable isotope global market is poised to reach $256.9 million by 2024. The Nuclear Medicine market includes stable isotopes which are classified into isotopes and applications. Isotopes considered are carbon (C-13), deuterium (D2), oxygen (O-18), nitrogen (N-15), Sulphur (S-32) and others. Deuterium (D-2) accounted largest share in 2017 and is the fastest growing market with projected low single digit CAGR growth from 2017 to 2024 due to use of deuterium as dietary supplement of deuterium-depleted water which helps to extend survival rate of lung cancer patient via exerting anticancer effect and modification of deuterium leads to development of novel, highly differentiated drugs which have therapeutic applications in diabetic nephropathy, hot flashes, spasticity, neuropathic pain and multiple melanoma.
Drivers & OpportunitiesIncreased Applications of Radiopharmaceuticals Rise in Public Awareness Usage of Hybrid Imaging Technological Advancements Increasing Needs in Emerging Markets Production of Radiopharmaceuticals from Cyclotrons Efficient Diagnosis and Treatments
Restraints & ThreatsShorter Half-Life of Radiopharmaceuticals High Cost and Supply Shortage of Isotopes Radio Toxicity Shortage of Qualified Technicians Regulatory Issues Threat from Traditional/Alternative Diagnostic Procedures Huge Capital Investment
Problem AreasClosure of Reactors
Winning ImperativesAvailability of Technetium
Key Topics Covered
1. Executive Summary
3. Market Analysis
4. Nuclear Medicine Global Market, By Modality
5. Nuclear Medicine Global Market, By End-Users
6. Stable Isotopes
7. Regional Analysis
8. Competitive Landscape
9. Major Player Profiles13 C Molecular Actinium Pharmaceuticals, Inc. Advanced Nuclear Medicine Ingredients Alpha Tau Medical Arronax Cyclotron Beijing Zhibo Biomedical Technology Co. Ltd. Best Medical International, Inc. Blue Earth Diagnostics Limited Bracco Group BTG International Ltd. BV Cyclotron VU Cardinal Health Inc. Cellectar Biosciences Clarity’s Pharmaceuticals Curium Pharma Eckert & Ziegler Strahlen Eli Lilly & Co (Avid Radiopharmaceuticals) Eurisotop Fujifilm Corporation GE Company Institute of Isotopes International Isotopes Inc. Iso-Analytical Ltd. IsoAid LLC Isoflex Isotope Isorad Ltd. Isoray Medical Inc. IsoSciences, LLC iThemba labs Pars Isotope Solcom Limited Theragenics Corporation Theragnostics Ltd. Tianjin Seeds Biological Pharmacy Co. Ltd and many more...
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Related Topics:Nuclear Medicine and Radiopharmacology
INDUSTRY KEYWORD: HEALTH RADIOLOGY
SOURCE: Research and Markets
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PUB: 07/24/2018 12:26 PM/DISC: 07/24/2018 12:26 PM