Nuclear Medicine/Radiopharmaceuticals Global Market Estimated to be Worth $9,367.8 Million by 2024

Monday, July 16, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+

BOSTON, July 16, 2018 /PRNewswire/ --

IQ4I Research & Consultancy published a new report on "Nuclear Medicine/ Radiopharmaceuticals

Global Market - Forecast To 2024" This report analyzes and studies the overall market, major Drivers & Opportunities, Restraints & Threats in North America,
Europe
, Asia-Pacific and Rest of the World.

IQ4I's Report Contains 178 market data tables and 168 figures spread through 576 pages and an exhaustive TOC on "Nuclear Medicine/Radiopharmaceuticals Global Market", Modality (SPECT (Technetium (Tc-99m), Gallium (Ga-67), Iodine (I-123), Thallium (Tl-201), Yttrium (Y-90) and Others); PET (Fluorodeoxyglucose (18F-FDG), Rubidium (Rb-82), Gallium (Ga-68) and Others); SPECT Applications, PET Applications; Therapeutics Type (Beta-Radiation, Alpha-Radiation and Brachytherapy) and Therapeutic Application; End Users (Hospitals, Diagnostic Centers, Ambulatory centers & Others); STABLE ISOTOPES: Isotopes (Carbon, Deuterium, Oxygen, Nitrogen, Sulphur & Others); Application (Diagnostics & therapy, Pharmaceuticals and Others); Regional (North America, Europe, Asia Pacific and Rest of the World). 

Nuclear medicine is a highly multi-disciplined medical imaging speciality sector that uses small amounts of radioactive material in order to diagnose and treat diseases related to gastrointestinal system, neurology, endocrine system, cardiology and cancer. Radiopharmaceuticals containing a radioactive tracer are generally inhaled, swallowed or injected into the patient and the gamma-rays emitted by this material are used by the SPECT and PET imaging modalities to display images. Nuclear medicine technique provides enhanced early detection, accurate diagnosis, rapid results, detailed description of various diseases and helps in adopting additional treatment plans when compared to traditional imaging methods. The adoptions of nuclear medicine for effective usage in integrated structure-function imaging, has made it a preferred imaging technique over traditional methods and increase its use in diagnostic radiology and various therapeutic indications. Advancements in radioactive tracers are providing practical methods for studying the limited metabolic activities of bones and teeth, hence has found a role in dental research, development of next generation therapeutic radiopharmaceuticals conjugated with antibodies and peptides is expanding new areas of research. As estimated by IQ4I Research, the nuclear medicine global market is expected to grow at high single digit CAGR to reach $9,367.8 million by 2024.

Increasing radioisotopes application, rise in public awareness, use of SPECT/CT and PET/CT imaging scans (hybrid imaging) and advancements in technology are driving 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.  

However, high cost of radioisotopes, shorter half life, shortage of qualified technicians and radiotoxicity issues are restraining the market growth. Stringent regulations, high capital investment, closure of reactors and threat from traditional imaging techniques are hampering the market expansion.

The nuclear medicine global market by modality is segmented into diagnostics (SPECT and PET) and therapeutics market (alpha radiation therapy, beta radiation therapy and brachytherapy). Diagnostics market held the largest market revenue and is projected to grow at a high single digit CAGR from 2017 to 2024 and therapeutics segment is growing at fast/rapidly at a high double digit CAGR from 2017 to 2024 due to technological advancements in targeted treatment especially cancer related diseases, potential new radioisotope applications in development and advancement in neurological applications. SPECT held the largest revenue and is projected to grow at a high single digit CAGR from 2017 to 2024 due to increase in Tc-99m isotope applications and product approvals. PET is expected to be fastest growing market with high single digit CAGR from 2017 to 2024 due to high accuracy and better contrast of images.

The nuclear medicine SPECT market by applications is segmented into cardiology, pulmonary, oncology, nephrology, neurology, inflammation, thyroid, lymphology and others. Cardiology market accounted largest share and is the fastest growing market with projected high single digit CAGR from 2017 to 2024 due to increase in number of cardiac imaging procedures using Tc-99m. PET market by applications is segmented into oncology, neurology, cardiology, inflammation and others. Oncology accounted for largest share and is the fastest growing market with projected high single digit CAGR from 2017 to 2024 due to increase in cancer imaging such as lung, thyroid and breast cancer.

Therapeutic nuclear medicine market is segmented into beta radiation therapy, brachytherapy and alpha radiation therapy. Alpha radiation accounted largest and is the fastest growing segment market with projected high double digit CAGR from 2017 to 2024 due to increase in market penetration of Ra-223 based product and regulatory approval (FDA and CE) also availability due to region specific licenses granted by Bayer. Therapeutic nuclear medicine by application is segmented into prostate, thyroid, liver, gastro-entero-pancreatic neuroendocrine tumors (GEP-NETs), metastatic bone cancer, breast cancer and others. Prostate cancer accounted largest share and is the fastest growing market projected with high double digit CAGR from 2017 to 2024 due to increase in incidence and prevalence of prostate cancer.

Nuclear medicine based on end-user market is segmented into hospitals, ambulatory centers, diagnostic centers and other. Hospitals market accounted largest share in 2017 and is the fastest growing market with projected high single digit CAGR from 2017 to 2024 due to ready availability of cyclotrons for generation of isotopes and presence of trained technicians who can handle radioisotopes.

The nuclear medicine global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North America region commanded the largest revenue in 2017. Growing use of SPECT and PET scans, technological advancement in equipments, increased utilization of fusion imaging, alpha radio immunotherapy based targeted cancer treatment and on-demand availability of radiopharmaceutical has led the market growth in this region. However, Asia-Pacific region is expected to grow at highest CAGR from 2017 to 2024 due to increased public awareness and increase in radiopharmaceutical applications.

Increase in research application with respect to pharmaceutical, biotechnology sector and increase in applications are driving the market for stable isotopes, however high cost of stable isotope, side effects of isotopes and stringent regulations for manufacturing of stable isotopes are the factors hampering the market of stable isotope. As estimated by IQ4I Research, the stable isotope global market is expected to grow at high single digit CAGR to reach $256.9 million by 2024.

Stable isotopes are precursors used in production of radioisotopes and market is segmented into carbon (C-13), Deuterium (D-2), Oxygen (O-18), Nitrogen (N-15), Sulphur (S-32) and others. Deuterium (D-2) accounted largest share and is the fastest growing market with projected high single digit CAGR from 2017 to 2024 due to use in 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. Stable isotope market by application is segmented into diagnostics-therapy, pharmaceuticals and others. Diagnostics-therapy segment commanded the largest market revenue and expected to grow at high single CAGR due to use in diagnosis and treatment of pancreas, liver and intestine related disorders. The pharmaceutical segment is the fastest growing segment growing at high single digit CAGR from 2017 to 2024 due to novel developments in utilization of stable isotopes which involve biopolymers, where isotope-labelled species are generated from cells grown on labelled growth media. North America region commanded the largest revenue of stable isotope market and expected to grow at a high single digit strong CAGR due to increase in research activities and increase in application in this region. Asia-Pacific has the largest share in terms of R&D investment is driving the market for stable isotope, but the high cost of stable isotopes is hampering the market in this region. Some of the companies related to stable isotopes are Isoflex Isotope (U.S.), Perkin Elmer (U.S.), 13C Molecular (U.S.), Merck KGaA (Sigma Aldrich-Isotec Inc) (U.S.), Iso-Analytical Ltd. (U.K.) and other companies.

Major players in the nuclear medicine global market are Curium Pharma (France), Bayer AG (Germany), GE Company (U.S.), Cardinal Health (U.S.), Jubilant Life science (India), Lantheus Medical Imaging (U.S.), Novartis International AG (Advanced accelerator) (Switzerland), South African Nuclear Energy Corporation (NTP Radioisotopes SOC Ltd) (South Africa), Siemens AG (Germany) and Fujifilm Holding Corporation (Japan).

Some of the emerging players in the nuclear medicine market are Perma-Fix Environmental Services, Inc. (Perma Fix Medical SA) (Poland), Board of Radiation & Isotope Technology (India), Institute of Isotopes (Hungary), Isotopia Molecular Imaging Ltd. (Israel), Orano Med (Areva Med) (U.S.), Curium Pharma (France), Eckert & Ziegler Strahlen (Germany), IsoAid LLC (U.S.), Shine Medical Technologies, Inc (U.S.), Theragenics Corporation (U.S.), Isoray Medical Inc (U.S.).

Reasons for buying this report:

  • Nuclear Medicine global market is expected to reach $9,367.8 million by 2024 at a CAGR of 6.5%.
  • Stable Isotope global market is expected to reach $256.9 million by 2024 at a CAGR of 2.8%.
  • Identification and analysis of the Nuclear Medicine global market segments by modality, products, by application, end-user and geography.
  • Identification and analysis of the Stable Isotope global market segments by isotope, by application and geography.
  • Analysis of the global market by identifying various sub-segments of the Nuclear Medicine.
  • Revenue forecast of the Nuclear Medicine global market and strategic analysis of each submarket with respect to individual growth trends.
  • Revenue forecast of the Nuclear Medicine global market with respect to North America (U.S. and others), Europe (Germany, France and Italy and Others), Asia-Pacific (Japan, China, Australia and Others), and Rest of the World (RoW) (Brazil, Rest of LATAM and Middle East and South Africa).
  • Identification of the major market trends and factors driving or inhibiting the growth of the Nuclear Medicine global market and its various sub-markets.
  • Analysis of the opportunities for stakeholders by identifying the high-growth segments of the market.
  • Analysis of the Nuclear Medicine global market share and individual product market shares like SPECT, PET and Tc-99m global market.
  • Analysis of porters five force model and technological advancements of the Nuclear Medicine global market.
  • Analysis of the regulatory bodies guiding the manufacturers, ongoing clinical trials and supply chain of the Nuclear Medicine global market.
  • Profiles of major players in Nuclear Medicine global market and analysis of their product offerings, financial revenue, business strategies, SWOTs and market shares.
  • Established and emerging players (73 companies) and their product offerings.

For more information please visit- http://www.iq4i.com/reports-category/pharmaceuticals/r/66

About IQ4I: IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a leading market research company. Our clients include leading businesses, investment banks, researchers and government agencies.

We are a team of highly qualified consultants and market researchers, committed to help clients make strategic decisions by providing relevant and firmly reliable market intelligence support. We enable our clients to identify the market opportunities with best-in-class market intelligence reports.

With world-class research capabilities, we deliver high-level strategically analyzed consulting and custom research assignments to our clients at a reasonable cost and time frame. With fact-based insights and accurate market forecasts, we enable our clients to understand and respond to the market dynamics with an edge over their competitors.

We provide market research, strategy & consulting for brand building, strategic planning, financial modelling, sales forecasting, competitive analysis, decision analysis, licensing, due diligence, strategic investment analysis, business development, human resources, operations efficiency, mergers & acquisitions and enable/support global organizations and their leadership to take informed strategic decisions to fulfil their business goals. We work through various domains including but not limited to pharmaceutical industry, biotechnology, medical devices, IT-healthcare, chemicals, materials and other industries, across all geographies.

Media Contacts: Mr. Satish Birudukota bd@iq4i.com +91-8147030229

SOURCE IQ4I Research and Consultancy



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store