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Nuclear Medicine Market

Nuclear Medicine Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Pharmaceuticals & Biotechnology | Author Name: Sayali

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Nuclear Medicine Market to Expand with Rising Need for Precise Diagnoses and Treatment

Unlike conventional imaging studies that produce primarily structural pictures, nuclear medicine, and molecular imaging allows for quick, safe, early, and more accurate medical diagnoses. It is well known that techniques employing nuclear particles, and radiation to understand, diagnose, and treat diseases (developing more effective therapies to personalising medical treatment) are continuously gaining importance in healthcare. Nearly 15 million people in the U.S. alone undergo diagnostic tests each year with a radioactive drug, either in vivo, or in vitro. Roughly 30 million people in the world benefit from nuclear medicine, says research. With growing need for reliable, precise diagnosis, and treatment, the global nuclear medicine market is expected to see a phenomenal expansion in the near future.

Increasing Dependence on Imaging Technology Opens Doors for Global Nuclear Medicine Market

Medical professionals use diagnostic techniques such as radio pharmaceuticals, radio scans or radioisotopes, and apply radiotherapy treatments that include X-rays as well as radiations from radioactive elements, or radiation-producing equipment such as accelerators. In contrast to radiologic procedures that determine the presence of disease based on structural appearance, nuclear medicine studies determine the cause of a medical problem based on organ, or tissue function (physiology). In nuclear medicine, radioisotopes are introduced (internally) into the body, whereas in radiology, X-rays penetrate the body from outside. Beyond diagnostics, and the treatment of diseases, nuclear technology is used to sterilise medical equipment, learn about biological processes with the use of tracers, or study the properties of tumorous cells, among other uses. Thus, the indispensable nature of imaging technologies will give nuclear medicine a clear path to walk on during the forecast years of 2022 and 2026.

Broad Spectrum Medical Specialities Secure Future of Nuclear Medicine Market

The main advantage of a nuclear medicine examination is the possibility to obtain effective and unique information about the examined organ’s function. It offers good complementarity beside X-ray, and magnetic resonance imaging (MRI) modalities, which display better anatomical images (spatial resolution).

Today, about 1/3rd of all procedures used in modern hospitals involve radiation or radioactivity, and all hospitals worldwide use radioisotopes in medicine. They are helpful in a broad spectrum of medical specialities, from neurology, oncology, paediatrics, pneumology, cardiology, to psychiatry. The risks associated with nuclear medicine are insignificant, whereas the benefits are invaluable. These tests provide functional and anatomic information unlike any other procedures – providing the most useful information for diagnosis and treatment. Positron emission tomography (PET) scans can tell whether or not the tumours are malignant or benign. These tests also have the ability to detect diseases in their earliest stages, and sometimes even before the diseases cause any visible symptoms in patients.

Global Nuclear Medicine Market Thrives on Acceptance of Advanced Technologies in Healthcare Systems

More advanced nuclear imaging uses computers, detectors, and radioisotopes to give doctors even more information about a patient’s internal function. These procedures include bone scanning, PET, single photon emission computed tomography (SPECT), and cardiovascular imaging. The use of these procedures depends on a patient’s symptoms. Radioisotopes are useful because the radiation they emit can be located in the body. The isotopes can be administered by injection, inhalation, or orally. A gamma camera captures images from isotopes in the body that emit radiation, followed by computers enhancing the image, further allowing physicians to detect tumours, and/or fractures, measure blood flow, or determine thyroid, and pulmonary functions. Increasing incidences of medical ailments and need to improve healthcare systems will give nuclear medicine market a chance to strengthen foothold in the global market.

Tough Regulatory Norms Hinder Global Nuclear Medicine Market

Global entities such as The U.S. Nuclear Regulatory Commission (NRC), European Association of Nuclear Medicine (EANM), and The British Nuclear Medicine Society (BNMS) regulate the use of radioactive material, including radiopharmaceuticals. They require all nuclear medicine facilities to be licensed. To get the license, the concerned facilities must prove they have a radiation safety programme in place to protect both the patients, and the staff. The entire process is more often than not cumbersome, and gradual.

New Technologies Give Rise to Innovations in Nuclear Medicine Market

Manufacturers continue to work and produce technologies that define innovations within nuclear medicine.

  • Siemens Healthineers xSPECT Quant - currently working with a range of isotopes: Iodine-123, Lutetium-177, Indium-111, and Technetium-99m – quantifies data for better outcomes
  • Precision with Biograph Vision (next-generation PET/CT) – enhanced image quality, and lesion detectability
  • Synthetic melanin protects from radiation damage - Researchers at Northwestern University have developed a new biomaterial, selenomelanin that can help necessarily protect people from radiation
  • United Imaging Healthcare, a company out of Shanghai, China, won the US Food and Drug Administration’s (FDA’s) clearance for its uEXPLORER - a combined PET and CT scanner. The device can perform whole-body scans using both imaging modalities at the same time

Global Nuclear Medicine Market: Key Players

Advanced Accelerator Applications, Avid Radiopharmaceuticals, Blue Earth Diagnostics Ltd., Curium Pharma, Digirad Corporation, Jubilant Radiopharma, Karyopharm, Lantheus Holdings, Inc., Northstar Nuclear Medicine, Precirix NV, Sinotau Pharmaceuticals, Solcom, and Zionexa are some of the leading players in the global nuclear medicine market.

Global Nuclear Medicine Market is Segmented as Below:

By Applications

  • PET Applications
    • Oncology
    • Cardiology
    • Neurology
    • Other PET Applications
  • Diagnostic Applications
    • SPECT Applications
      • Cardiology
      • Bone Scans
      • Thyroid Applications
      • Pulmonary Scans
      • Other SPECT Applications
    • Therapeutic Applications
      • Thyroid Indications
      • Bone Metastasis
      • Lymphoma
      • Endocrine Tumors
      • Other Indications

By Type

  • Diagnostic Nuclear Medicine
    • PECT Radiopharmaceuticals
      • Technetium-99m
      • Thallium-201
      • Gallium-67
      • Iodine-123
      • Other SPECT Isotopes
    • PET Radiopharmaceuticals
      • F-18
      • Ru-82
      • Other PET Isotopes
  • Therapeutic Nuclear Medicine
    • Alpha Emitters
      • Ra-223
    • Beta Emitters
      • Iodine-131
      • Yttrium-90
      • Samarium-153
      • Lutetium-177
      • Rhenium-186
      • OtherBeta Emitters
  • Brachytherapy Isotopes
    • Iodine-125
    • Palladium-103
    • Cesium-131
    • Iridium-192
    • Other Brachytherapy Isotopes

By Procedural Volume Assessment

  • Therapeutic Procedures
    • Beta Emitter Procedures
    • Brachytherapy Procedures
    • Alpha Emitter Procedures
  • Diagnostic Procedures
    • SPECT Procedures
    • PET Procedures

By Region

  • North America
  • Europe
  • Asia Pacific
  • RoW

Key Elements Included In The Study: Global Nuclear Medicine Market

  • Nuclear Medicine Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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  • The segmentation/company profiles/countries depicted above may vary in the actual report.

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