Global North American nuclear medicine market worth $ 2.7 billion : Use of Radiopharmaceuticals in Neurological Application

Global North American nuclear medicine market worth $ 2.7 billion : Use of Radiopharmaceuticals in Neurological Application

Growth in the market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer & cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99. However, the short half-life of radiopharmaceuticals reduces their potential adoption, while hospital budget cuts and high equipment prices are expected to limit market growth to a certain extent.
 
According to the new market research report “North American Nuclear Medicine Market by Type (Diagnostic (SPECT – Technetium, PET- F-18), Therapeutic (Beta Emitters – I-131, Alpha Emitters, Brachytherapy – Y-90)), Application (Oncology, Cardiology) – Forecasts to 2024″, published by MarketsandMarkets™, the North American Radiopharmaceuticals Market is expected to reach USD 2.7 billion by 2024 from an estimated USD 2.2 billion in 2019, at a CAGR of 4.1%.
 
 
The study involved four major activities in estimating the current size for the North American nuclear medicine market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
 
Browse in-depth TOC on “North American Nuclear Medicine Market“
96 – Tables
30 – Figures
159 – Pages
 
 
The key factors driving the growth of this market are increasing incidence and prevalence of cancer & cardiac ailments and the initiatives to lessen the demand-supply gap of Mo-99.
 
By type, the SPECT radiopharmaceutical segment is expected to account for the largest share of the diagnostic nuclear medicine market in 2019
 
Based on type, the North American Nuclear Medicine Market is categorized into diagnostic and therapeutic nuclear medicine. The diagnostic nuclear medicine segment is further categorized into SPECT and PET radiopharmaceuticals. The SPECT radiopharmaceuticals segment is expected to account for the largest share of the market in 2019. However, the PET radiopharmaceutical segment is projected to register the highest CAGR during the forecast period. Although PET is more expensive than SPECT, advances in PET imaging and the introduction of new PET radiotracers are supporting its growth in the market.
 
By application, the PET oncology application segment is expected to account for the largest share of the market in 2019
 
Based on application, the North American Radiopharmaceuticals Market is segmented into SPECT, PET, and therapeutic applications. The PET applications segment is further segmented into oncology, cardiology, and neurology, among others. The oncology PET application segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the use of F-18 in PET oncology. F-18 is a major isotope used in oncological applications such as breast cancer and bone metastasis.
 
By procedural volume assessment, the Tc-99m procedures segment is expected to account for the largest share of the SPECT procedures market in 2019
 
Based on procedural volume assessment, the market is segmented into SPECT, PET, and therapeutic procedures. The Tc-99m procedural volume segment is expected to account for the largest share of the SPECT procedural volume assessment in 2019. The large share of this segment can be attributed to the increasing use of Tc-99m in diagnostic nuclear medicine procedures.
 
 
The US to dominate the market in 2019
 
The North American Radiopharmaceuticals Market is segmented into the US and Canada, based on country. The US is expected to account for the largest share and also register the highest CAGR during the forecast period. The growth of this market can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the country
 
The prominent players in the global North American Nuclear Medicine Market include Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).
 
Browse Adjacent Markets: Biotechnology Market Research Reports & Consulting
 
Browse Related Reports:
 
Nuclear Medicine/ Radiopharmaceuticals Market by Type (Diagnostic (SPECT (Technetium), PET (F-18)), Therapeutic (Beta Emitters (I-131), Alpha Emitters, Brachytherapy(Y-90))), Application (Oncology, Thyroid, Cardiology) – Global Forecasts to 2023
 
Radiation Detection, Monitoring, & Safety Market by Product (Detection & Monitoring, Safety), Composition (Gas-filled detectors, Scintillator, Solid-state detector), Application (Healthcare, Homeland Security& Defence, Industrial) – Global Forecast to 2022
 
About MarketsandMarkets™
 
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
 
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
 
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
 
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
See also  3D Printing Medical Devices Market : Technological advancements in the field of 3D Printer

Related Posts

%d bloggers like this: