The nuclear medicine market is projected to reach USD 18.10 billion by 2025 growing with CAGR of 10.1% during the forecast period. The growing demand for radioisotopes in cancer imaging is a major driver for the nuclear medicine market.
— Improved Cancer Care Therapeutics Model Reflects Tremendous Growth in Nuclear Medicine Market
Adoption of radiopharmaceuticals in the form of nuclear medicine is gaining fast-track adoption as an ideal therapeutic method for cancer. Growing instances of cancer as associated conditions such as various bone related complications often leading to excruciating pain are treated with radiopharmaceuticals, thus posing healthy growth prognosis in nuclear medicine market.
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The report also suggests high reliance on radiopharmaceuticals may be experienced with improved healthcare delivery models, especially cancer care across emerging nations, responding to high prevalence. This is further accounted to trigger ample growth scope in nuclear medicine market.
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The geographical expanse in nuclear medicine market is widespread across several prominent growth areas, however, owing to massive technological boost across matured economic nations, nuclear medicine market is expected to remain bullish across North America and Europe.
Despite an optimistic adoption outlook, global nuclear medicine market is likely to witness growth obstacles such as stringent regulatory framework governing adoption and use as well as high cost involvement and stark gaps in raw material supply and demand ratio. Leading pharmaceutical companies are encouraging high end research and development initiatives which is anticipated to offer a major growth fillip in global nuclear medicine market.
Nuclear Medicine Company Curium Seeks Commercialization Approval for Germanium-68 to Support PET Imaging
Several market participants are carrying out extensive R&D expeditions to attain potential breakthrough in nuclear medicine, also aiming at obtaining requisite certifications and approvals for commercialization of their nuclear medicine and various radioactive agents.
IN this regard, nuclear medicine market veteran, Curium has made an announcement about applying for regulatory approvals for germanium-68, to be used in PET (positron emission tomography) imaging.
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The major players operating in the global nuclear medicine market include:
Curium, Nordion Inc., Cardinal Health Inc., Bracco Imaging S.p.A, Eczacibasi-Monrol Nükleer Ürünler San. ve Tic. A.S., Lantheus Medical Imaging, Inc., Jubilant Pharma. LLC, Ire-Elit SA, GE Healthcare Company, NTP and others.
Due to the growing demand of nuclear medicines in health sciences, the players are forming strategic alliances and outsourcing the production of few radioisotopes to gain momentum in the industry. In line with this, Curium was founded in 2017, when IBA Molecular and Mallinckrodt Nuclear Medicine underwent partnership. This alliance was specifically formed to fulfill the growing demand of Technetium-99.
Segment Overview of Global Nuclear Medicine Market
• Type Overview, 2015-2025 (USD Million)
o Technetium (Tc-99)
o Iodine (I-131)
o Fluorine (F-18)
o Lutetium (Lu-177)
o Yttrium (Y-90)
• Diagnostics Overview, 2015-2025 (USD Million)
o PET (Positron Emission Tomography)
o SPECT (Single Photon Emission Computed Tomography)
• Application Overview, 2015-2025 (USD Million)
• Regional Overview, 2018-2025 (USD Billion)
o North America (U.S., Canada)
o Europe (UK, Germany, France, Russia)
o Asia Pacific (China, Japan, India, Australia)
o Rest of the World
Some Major Points from Table of Content (TOC):
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Market Overview, By Type
Chapter 5. Market Overview, By Diagnostic Technique
Chapter 6. Market Overview, By Application
Chapter 7. Market Overview, By Region
Chapter 8. Company Profiles
What does the report include?
• The study on the global nuclear medicine market includes qualitative factors such as drivers, restraints and opportunities
• Additionally, the market has been evaluated using the Vendor Landscape Analysis and Value Chain Analysis.
• The study covers qualitative and quantitative analysis of the market segmented on the basis of type, diagnostics, application and region. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence
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