Dublin, Sept. 21, 2021 (GLOBE NEWSWIRE) -- The "Global 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), Procedures, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global nuclear medicine market is projected to reach USD 7.5 billion by 2026 from USD 4.8 billion in 2021, at a CAGR of 9% during the forecast period.
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.
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 from 2021 to 2026
In 2020, 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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Nuclear Medicine Market Overview
4.2 North America: Nuclear Medicine Market, by Type and Country (2020)
4.3 Diagnostic Procedures Market, by Type, 2021 vs. 2026
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Incidence and Prevalence of Target Conditions
5.2.1.2 Development of Alpha-Radioimmunotherapy-Based Targeted Cancer Treatments
5.2.1.3 Initiatives to Reduce the Demand and Supply Gap of MO-99
5.2.2 Restraints
5.2.2.1 Short Half-Life of Radiopharmaceuticals
5.2.3 Opportunities
5.2.3.1 Use of Radiopharmaceuticals in Neurological Applications
5.2.4 Challenges
5.2.4.1 Hospital Budget Cuts and High Equipment Costs
5.3 Impact of COVID-19 on the Nuclear Medicine/Radiopharmaceuticals Market
5.4 Value Chain Analysis
5.5 Ecosystem Coverage
5.6 Regulatory Landscape
5.7 Porter's Five Forces Analysis
5.7.1 Porter's Five Forces Analysis: Nuclear Medicine/Radiopharmaceuticals Market
5.8 Patent Analysis
6 Nuclear Medicine/Radiopharmaceuticals Market, by Type
6.1 Introduction
6.2 Diagnostic Nuclear Medicine
6.2.1 SPECT Radiopharmaceuticals
6.2.1.1 TC-99M
6.2.1.1.1 TC-99M Commanded the Largest Share of the SPECT Radiopharmaceuticals Market in 2020
6.2.1.2 I-123
6.2.1.2.1 Reduced Exposure to Radiation and Lower Risk of Patients Developing Radiation-Induced Cancer to Drive the Demand for I-123
6.2.1.3 Tl-201
6.2.1.3.1 TI-201 Can be a Potential Substitute to TC-99M
6.2.1.4 GA-67
6.2.1.4.1 Long Half-Life of GA-67 Facilitates Easy Sales and Distribution
6.2.1.5 Other SPECT Isotopes
6.2.2 Pet Radiopharmaceuticals
6.2.2.1 F-18
6.2.2.1.1 F-18 Commanded the Largest Share of the Pet Radiopharmaceuticals Market in 2020
6.2.2.2 RB-82
6.2.2.2.1 High Accuracy Offered by the RB-82 Isotope to Support Market Growth
6.2.2.3 Other Pet Isotopes
6.3 Therapeutic Nuclear Medicine
6.3.1 Alpha Emitters
6.3.1.1 RA-223
6.3.1.1.1 Easy Production of RA-223 is a Key Advantage Driving Market Growth
6.3.2 Beta Emitters
6.3.2.1 I-131
6.3.2.1.1 I-131 Accounted for the Largest Share of the Beta Emitters Market in 2020
6.3.2.2 Y-90
6.3.2.2.1 Increasing Applications in Treating Hepatocellular Carcinoma to Propel the Growth of this Segment
6.3.2.3 SM-153
6.3.2.3.1 Increasing Incidence of Bone Metastasis to Drive the Growth of this Segment
6.3.2.4 LU-177
6.3.2.4.1 Increasing Incidence of Neuroendocrine Cancer is a Key Factor Driving the Growth of this Segment
6.3.2.5 RE-186
6.3.2.5.1 RE-186 is Commonly Used for Bone Pain Relief
6.3.2.6 Other Beta Emitters
6.3.3 Brachytherapy Isotopes
6.3.3.1 I-125
6.3.3.1.1 I-125 Accounted for the Largest Share of the Brachytherapy Isotopes Market in 2020
6.3.3.2 IR-192
6.3.3.2.1 IR-192 is Used in Treating Prostate, Skin, and Oral Cancer
6.3.3.3 PD-103
6.3.3.3.1 PD-103 is Best Suited to Treat Aggressive Tumors
6.3.3.4 Cesium-131
6.3.3.4.1 CS-131 is Commonly Used in Gynecological Applications
6.3.3.5 Other Brachytherapy Isotopes
7 Nuclear Medicine/Radiopharmaceuticals Market, by Application
7.1 Introduction
7.2 Diagnostic Applications
7.2.1 SPECT Applications
7.2.1.1 Cardiology
7.2.1.1.1 Rising Incidence of CVD Has Increased the Demand for Cardiac Diagnostic Scans
7.2.1.2 Bone Scans
7.2.1.2.1 Precision of SPECT in Bone Scans Has Driven the Adoption of this Technology
7.2.1.3 Thyroid
7.2.1.3.1 Introduction of Dual SPECT/CT Imaging is an Important Trend in the Thyroid Applications Segment
7.2.1.4 Pulmonary Scans
7.2.1.4.1 SPECT/CT Has Shown High Accuracy and Sensitivity in Pulmonary Embolism Applications
7.2.1.5 Other SPECT Applications
7.2.2 Pet Applications
7.2.2.1 Oncology
7.2.2.1.1 Increasing Incidence of Cancer to Propel Market Growth
7.2.2.2 Cardiology
7.2.2.2.1 Growing Preference for FDG in Cardiac Imaging to Boost the Market Growth
7.2.2.3 Neurology
7.2.2.3.1 Increasing Incidence of AD, Epilepsy, and Parkinson's Disease is the Major Driver for the Growth of the Pet Neurology Market
7.2.2.4 Other Pet Applications
7.3 Therapeutic Applications
7.3.1 Thyroid Indications
7.3.1.1 Increasing Prevalence of Thyroid Disorders to Fuel Market Growth
7.3.2 Bone Metastasis
7.3.2.1 Introduction of Novel Therapies for Bone Metastasis Will Positively Impact Market Growth
7.3.3 Endocrine Tumors
7.3.3.1 The US Dominates the Therapeutic Nuclear Medicine Market for Endocrine Tumor Applications
7.3.4 Lymphoma
7.3.4.1 Development of New Isotopes for the Treatment of Lymphoma Presents Huge Growth Opportunities
7.3.5 Other Therapeutic Applications
8 Nuclear Medicine/Radiopharmaceuticals Market: Procedural Volume Assessment
8.1 Introduction
8.2 Diagnostic Procedures
8.2.1 High Prevalence of Cancer and Cardiac Diseases to Drive Market Growth
8.2.2 SPECT Procedures
8.2.3 Pet Procedures
8.3 Therapeutic Procedures
8.3.1 Growing Demand for Non-Invasive Methods to Support Market Growth
8.3.2 Beta-Emitter Procedures
8.3.3 Alpha-Emitter Procedures
8.3.4 Brachytherapy Procedures
9 Nuclear Medicine/Radiopharmaceuticals Market, by Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 The US Dominates the North American Nuclear Medicine Market
9.2.2 Canada
9.2.2.1 Investments to Secure Medical Isotope Supply are Likely to Boost the Market Growth
9.3 Asia-Pacific
9.3.1 Japan
9.3.1.1 Japan Dominates the APAC Nuclear Medicine Market
9.3.2 China
9.3.2.1 High Incidence of Cancer and Stroke to Support Market Growth in China
9.3.3 Rest of Asia-Pacific
9.4 Europe
9.4.1 Germany
9.4.1.1 Well-Established Healthcare System in Germany is a Major Factor Supporting Market Growth
9.4.2 France
9.4.2.1 France Has a Favorable Reimbursement Scenario for Nuclear Imaging
9.4.3 UK
9.4.3.1 Rising Demand for Nuclear Imaging and Growing Awareness to Drive Market Growth in the UK
9.4.4 Italy
9.4.4.1 Growing Prevalence of Cancer and CVD to Drive Market Growth in Italy
9.4.5 Spain
9.4.5.1 Initiatives by Semnim Will Have a Positive Impact on the Nuclear Medicine Market in Spain
9.4.6 Roe
9.5 Rest of the World
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.3 Revenue Analysis of Key Market Players
10.4 Company Evaluation Matrix
10.4.1 Stars
10.4.2 Emerging Leaders
10.4.3 Pervasive Players
10.4.4 Participants
10.5 Competitive Leadership Mapping - Start-Ups/SMEs
10.5.1 Progressive Companies
10.5.2 Starting Blocks
10.5.3 Responsive Companies
10.5.4 Dynamic Companies
10.6 Competitive Benchmarking
10.6.1 Overall Footprint of Key Players
10.7 Competitive Scenario
10.7.1 Product Launches & Approvals
10.7.2 Deals
11 Company Profiles
11.1 Major Players
11.1.1 Curium
11.1.2 Bracco Imaging S.P.A.
11.1.3 Pharmalogic
11.1.4 Eczacibasi-Monrol Nuclear Products
11.1.5 Cardinal Health
11.1.6 NTP Radioisotopes SOC Ltd. (A Subsidiary of South African Nuclear Energy Corporation)
11.1.7 GE Healthcare
11.1.8 Nordion Inc. (A Sotera Health Company)
11.1.9 Advanced Accelerator Applications (AAA) (A Part of Novartis)
11.1.10 Northstar Medical Radioisotopes, LLC
11.1.11 Eckert & Ziegler
11.1.12 Joint Stock Company Isotope (JSC Isotope)
11.1.13 Bayer AG
11.1.14 Siemens Healthineers
11.1.15 Jubilant Draximage, Inc. (A Subsidiary of Jubilant Pharma)
11.1.16 Lantheus Medical Imaging, Inc.
11.2 Other Players
11.2.1 Global Medical Solutions
11.2.2 Shine Medical Technologies
11.2.3 Isotopia Molecular Imaging Ltd.
11.2.4 Sinotau Pharmaceutical Group
11.2.5 Institute of Isotopes Co., Ltd.
11.2.6 China Isotope & Radiation Corporation
11.2.7 Yantai Dongcheng Pharmaceutical Group Co. Ltd.
11.2.8 Cyclopharm
11.2.9 Ire Elit
12 Appendix
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