Global $10.74 Billion Nuclear Medicine/Radiopharmaceuticals Market to 2027: Key Players are Curium, Bayer, GE Healthcare, Cardinal Health, Jubilant Life Science, Lantheus, Novartis, SANEC, Fujifilm

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Oct 09, 2020, 08:15 ET

DUBLIN, Oct. 9, 2020 /PRNewswire/ -- The "Nuclear Medicine/Radiopharmaceuticals Global Market - Forecast To 2027" report has been added to ResearchAndMarkets.com's offering.

The nuclear medicinal market is classified based on modality into diagnosis and therapeutics. The diagnostics market commanded the largest market revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027 due to an increase in SPECT and PET procedures. The therapeutics segment is projected to grow at high teen CAGR from 2020 to 2027 due to technological advancements in the targeted treatment of cancers.

Potential new radioisotopes in the pipeline and advancement in neurological treatments are the key factors driving the growth of the therapeutics market. Diagnosis by products is segmented into SPECT and PET. SPECT market commanded the largest revenue in 2020 and is expected to grow at low single digit CAGR from 2020 to 2027 due to an increase in TC-99m isotope applications and product approvals.

Among SPECT is segmented based on isotopes into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Samarium (Sm-153), Xenon (Xe-133), Rhenium (Re-186) and others. Technetium (Tc-99m) accounted for the largest share in 2020 and is projected to grow at a mid single digit CAGR from 2020 to 2027 due to its extensive usage in various diagnostic applications and emerging sources to meet the demand. SPECT market by application is segmented into cardiology, pulmonary, oncology, nephrology, neurology, inflammation, thyroid gland, lymphology and others.

Cardiology accounted for the largest share in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027 due to an increase in the number of cardiac imaging cases using Tc-99m. Oncology is expected to grow at mid single digit CAGR from 2020 to 2027 due to increasing expanding usage in early screening tests in vulnerable populations in various developed countries.

PET is the fastest-growing segment with mid single digit CAGR from 2020 to 2027 due to an increase in the adoption of cyclotron for the production of PET isotopes increasing its availability. The PET isotopes include Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others.

Fluorodeoxyglucose (18F-FDG) accounted for the largest share in 2020 and the market is expected to grow at mid single digit CAGR from 2020 to 2027. Gallium (Ga-68) is expected to grow at high double digit CAGR from 2020 to 2027 due to an increase in usage as theranostic pair in assessing the suitability of patient for Lutathera and many emerging targeted radiotherapy agents.

PET by applications is segmented into cardiology, oncology, neurology, inflammation and others. Oncology accounted for the largest share in 2020 and is projected to grow at high single digit CAGR from 2020 to 2027 due to an increase in the patient pool of lung, thyroid, brain breast cancer and dementia related conditions.

Factors Influencing Market

Drivers and Opportunities

Increasing Applications of Radiopharmaceuticals
Production of Radiopharmaceuticals from Cyclotrons
Efficient Diagnosis and Treatments
Increasing Interest in Theranostics
Rise in Public Awareness
Technological Advancements
Increasing Demand in Emerging Markets

Restraints and Threats

The Shorter Half-Life of Radiopharmaceuticals
High Cost and Supply Shortage of Isotopes
Radio Toxicity
Shortage of Qualified Technicians
Withdrawal of Radiopharmacy Products Due to Limited Commercial Adoption
Regulatory Issues
Threat from Traditional/Alternative Diagnostic Procedures
Huge Capital Investment

Problem Areas

Closure of Reactors

Winning Imperatives

Availability of Technetium

Regulatory Guidelines

Some of the key players of the nuclear medicine market are

Curium Pharma (France)
Bayer Group (Germany)
GE Healthcare (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)
Fujifilm Holding Corporation (Japan)

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Market Analysis

4 Nuclear Medicine Global Market, by Modality

5 Nuclear Medicine Global Market, by End-Users

6 Stable Isotopes

7 Nuclear Medicine Global Market by Region

8 Competitive Landscape

9 Major Player Profiles

For more information about this report visit https://www.researchandmarkets.com/r/u9dia1

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