Nuclear Medicine Market to Reach Valuation of USD 15.2 Billion by 2028 – the Rapid Technological Advancement in Nuclear Imaging Techniques, Drives the Market

In terms of revenue, the Global Nuclear Medicine Market is expected to reach USD 15.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.60% from 2022 to 2028.

The market is growing because of an increase in cancer cases and public knowledge of Nuclear Medicine. Radiopharmaceuticals are drug formulations containing radioactive isotopes used for medicinal and diagnostic purposes. They are small, straightforward chemicals with a radioactive component used to treat cancer and cardiac and neurological diseases. For oncology and cancer treatment, therapeutic radiopharmaceuticals are replacing traditional chemotherapy methods because they are more practical, which creates new opportunities in the radiopharmaceutical market.

Key Highlights from Report:

• The Diagnostic Applicationssegment had the biggest market share in 2021 due to a broad patient population and the availability of cutting-edge technologies like Single-Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography.
• The Diagnostic Nuclear Medicine category now has the biggest market share and is anticipated to expand quickly over the next few years. This is due to improvements in diagnostic imaging, including the ability to capture 3D pictures, faster device processing speeds, and automation in the workplace. The development of targeted medicines in the field of cancer is expected to cause the therapeutic segment to expand quickly.

• · The Asia Pacific market is estimated to dominate the market in 2021 with the largest share, and it is predicted that it will continue to expand rapidly over the projected period. The region's significant market share is explained by the high volume of Nuclear Medicine treatments, the solid healthcare infrastructure, and the increased investment in R&D activities.

Market Dynamics:

Nuclear Medicine is a radiology branch that uses tiny quantities of radioactive substances, known as radiopharmaceuticals, to examine organ architecture and functioning. Growing government funding for introducing innovative procedures and increased public awareness of healthcare issues will contribute to industry growth. Numerous projects have been launched in response to the growing need to close the Mo-99 supply-demand imbalance. Other factors promoting the market's growth include the increased prevalence of cardiovascular diseases (CVDs), the rising number of targeted treatment procedures, and the expanding SPECT and PET applications. The industry's expansion could be hampered by increased capital expenditures, challenges with insurance coverage, and radiopharmaceuticals' brief half-lives.

The North American region is anticipated to dominate the industry. The rising investment in activities will drive the market in the North American area for research and development in this industry. The availability of incredibly effective healthcare infrastructure will help fuel market expansion. Numerous facilities have been created and set aside for radioisotope production. Radioisotopes are produced in the North American region for commercial and research purposes. The market for Nuclear Medicine is anticipated to expand throughout the projected period because of an increase in the region's cancer patient population.

The Global Nuclear Medicine Market is Segmented as follows:

• Type
  • Diagnostic Nuclear Medicine
  • Therapeutic Nuclear Medicine
  • Brachytherapy Isotopes
• Applications
  • Diagnostic Applications
  • Procedural Volume Assessment
  • Diagnostic Procedures
  • Therapeutic Procedures
• Procedural Volume Assessment
  • Diagnostic Procedures
  • Therapeutic Procedures
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Nuclear Medicine Market is:

Curium, Bracco Imaging S.P.A., Pharmalogic, Eczacibaşi-Monrol Nuclear Products, Cardinal Health, NTP Radioisotopes SOC LTD. (A Subsidiary of South African Nuclear Energy Corporation), GE Healthcare, Nordion Inc. (A Sotera Health Company), Advanced Accelerator Applications (AAA) (A part of Novartis), Northstar Medical Radioisotopes LLC, Eckert & Ziegler, Joint Stock Company Isotope (JSC Isotope), Bayer AG, Siemens Healthineers, Jubilant Draximage Inc. (A Subsidiary of Jubilant Pharma), Lantheus Medical Imaging Inc., Global Medical Solutions, Shine Medical Technologies, Isotopia Molecular Imaging Ltd., Sinotau Pharmaceutical Group, Institute of Isotopes Co. Ltd., China Isotope & Radiation Corporation, Yantai Dongcheng Pharmaceutical Group Co. Ltd., Cyclopharm, IRE Elit

The Global Nuclear Medicine Market Scope can be Tabulated as below: