Nuclear Medicine Global Market Report 2023

·5 min read

Major players in the nuclear medicine market are Bracco Imaging S.P.A., Lantheus Medical Imaging Inc., NTP Radioisotopes SOC Ltd., Eckert & Ziegler Group, Jubilant Pharma LLC, Australian Nuclear Science & Technology Organization, Cardinal Health Inc.

New York, March 23, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Nuclear Medicine Global Market Report 2023" -
, GE Healthcare, Curium Pharma7, Advanced Accelerator Applications, Nordion Inc., The Institute for Radioelements, Eczacba?-Monrol, Siemens Healthineers AG, and Cambridge Isotope Laboratories Inc.

The global nuclear medicine market grew from $6.79 billion in 2022 to $7.71 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nuclear medicine market is expected to grow to $12.34 billion in 2027 at a CAGR of 12.5%.

The nuclear medicine market consists of sales of bone density scanning, cardiac PET perfusion, cardiac PET sarcoid.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Nuclear medicine refers to a specialised area of radiology that uses radioactive material inside the body to inspect the overall health condition of the concerned patient.

North America was the largest region in the nuclear medicine market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this nuclear medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The main types of nuclear medicine are diagnostic and therapeutic.A diagnostic is an examination to identify a person’s distinct areas of strength and weakness to identify a condition, disease, or illness.

The applications involved cardiology, lymphoma, thyroid, neurology, oncology, and other applications. The end-users included hospitals and clinics, diagnostic centers, and other end-users.

The increasing constancy and prevalence of cardiovascular disease (CVD) and cancer are expected to propel the growth of the nuclear medicine market going forward.Cardiovascular diseases (CVDs) are a group of heart and blood vessel disorders, and cancer is a disease in which cells grow out of control and spread to other body parts.

Nuclear cardiac imaging can help diagnose cardiac diseases more quickly.Nuclear medicine therapy is a method to treat cancer that might be used with or after other therapy options, such as surgery and chemotherapy.

As a result, the growing constancy and prevalence of cardiovascular disease and cancer increase the demand for the nuclear medicine market. For instance, in 2020, according to GLOBOCAN, a US-based cancer observatory, there were 19.29k new cancer cases in the world in the year 2020, and 28.88k cases are anticipated by 2040. Therefore, the growing constancy and prevalence of cardiovascular diseases and cancer are driving the nuclear medicine market.

Product innovation is the key trend gaining popularity in the nuclear medicine market.Major companies operating in the nuclear medicine market are focused on developing new innovative products to strengthen their position.

For instance, in March 2021, GE Healthcare, a US-based company that deals with nuclear medicine, launched Star Guide, a new nuclear medicine system to assist in advancing precision health and theranostics.StarGuide uses the most recent developments in Cadmium Zinc Telluride (CZT) technology to assist providers in exploring and better understanding the patient’s condition, enhancing patient outcomes throughout the continuum of care.

It has unique features such as digital focus detectors and 360-degree imaging of the system that are intended to support improved theranostic capabilities in nuclear medicine and advanced precision health.

In April 2022, Mediso Ltd., a Hungary-based nuclear medicine imaging equipment manufacturer, acquired Bartec Technologies Ltd for an undisclosed amount. The acquisition aimed at strengthening the market position of Mediso in the UK and Ireland by leveraging Bartec Technologies resources. Bartec Technologies Ltd., is a UK-based specialising in nuclear medicine and molecular imaging equipment and accessories.

The countries covered in the nuclear medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The nuclear medicine market research report is one of a series of new reports that provides nuclear medicine market statistics, including nuclear medicine industry global market size, regional shares, competitors with a nuclear medicine market share, detailed nuclear medicine market segments, market trends and opportunities, and any further data you may need to thrive in the nuclear medicine industry. This nuclear medicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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