Nuclear Medicine Or Radiopharmaceuticals Market To Grow At A 7.6% CAGR By 2028: Size, Share, Growth And Trends – openPR

Market Overview:The Nuclear Medicine or Radiopharmaceuticals Market was valued at USD 5700 million in 2021 and is expected to reach USD 9520 million by the year 2028, at a CAGR of 7.6%.

The practice of nuclear medicine involves the use of radioactive materials in diagnostic or treatments, primarily for the treatment of various cancers. Small quantities of radioactive chemicals known as radiotracers are used in nuclear medicine throughout the imaging or diagnostic procedure. Usually administered intravenously, breathed, or ingested by the patient, these radiotracers localize to particular organs and produce radiation. As it goes through the area to be studied, the radiotracer emits energy in the form of gamma rays. A specialized camera and computer detect these gamma rays to produce images of the inside of the body.

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Market Dynamics:Driver:Over the years, a significant concern for humanity has been the rise in the number of people suffering from inflammatory, cardiovascular, and cancerous diseases. The old approaches used to treat these illnesses don't work as well as a more accurate diagnosis and focused approach to treatment. Additionally, several nuclear treatments have been created to treat the rising incidence of heart disease and cancer, encouraging the growth of the Nuclear Medicine or Radiopharmaceuticals market over the anticipated time frame. The market is further bolstered by the recent identification of brand-new, effective therapeutic uses for radiopharmaceuticals in oncology and cardiology prognosis, supporting the industry's growth in the anticipated time frame.

Opportunities:New clinical prospects in radiation therapy are anticipated to arise as the use of sophisticated SPECT/CT and PET/CT scanners increases. Monoclonal antibodies, radioisotopes, and immunology have been combined to find radioisotopes with exceptional specificity for cancer detection and therapy, driving development and progress in this field. Additionally, a new area in nuclear medicine has been created by theragnostic, a combination of single medicines used for both therapeutic and diagnostic objectives. This cutting-edge procedure can be used to give the patient a targeted and individualized treatment.

The Report Will Include A Major ChapterPatent AnalysisRegulatory FrameworkTechnology RoadmapBCG MatrixHeat Map AnalysisPrice Trend AnalysisInvestment AnalysisCompany Profiling and Competitive PositioningIndustry Value Chain AnalysisMarket Dynamics and FactorsPorter's Five Forces AnalysisPestle AnalysisSWOT Analysis

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Key Prominent Players in The Nuclear Medicine or Radiopharmaceuticals MarketActinium Pharmaceuticals Inc. (US) Alliance Medical (UK)Avid Bioservices Inc (US)Bayer HealthCare Pharmaceuticals (Germany)Bracco Diagnostics Inc. (Italy)Cardinal Health Inc. (US)GE Healthcare (US)Ion Beam Applications S.A (Belgium)Jubilant Pharma (India)Lantheus Medical Imaging Inc. (US)Medi-Radiopharma Ltd (Hungary)Nordion Inc. (Canada)Novartis/Advanced Accelerator Applications (France)Positron Corporation (US)Radiopharm Theranostics Ltd. (US), and other major players.

Segmentation of The Nuclear Medicine or Radiopharmaceuticals MarketBy TypeDiagnosticTherapeuticResearch

By ModalitySingle-Photon Emission Computed Tomography (SPECT) RadioisotopesPositron Emission Tomography (PET) RadioisotopesBeta EmittersAlpha EmittersOthers

By ApplicationOncologyThyroidCardiologyNeurologyOthers

By End UserHospitals and Diagnostic CentersResearch Institutes

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Regional Analysis of Nuclear Medicine or Radiopharmaceuticals Market:The North American region is expected to have the highest share of the Nuclear Medicine or Radiopharmaceuticals market attributed to the highly developed healthcare sector and the rapid adoption of advanced nuclear technologies for diagnosing and developing efficient therapeutic procedures. Moreover, an increase in the number of medical tourism and the growing prevalence of various cancers coupled with new product launches having advanced features are expected to stimulate the growth of the market in this region. Furthermore, the supportive government policies and fundings for the development of novel techniques are the main factors driving the expansion of the market in this region.North America (U.S., Canada, Mexico)Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)South America (Brazil, Argentina, Rest of SA)

COVID-19 Impact on Nuclear Medicine or Radiopharmaceuticals MarketThe emergence and worldwide spread of COVID-19, an infectious disease caused by the novel coronavirus SARS-CoV-2, has resulted in a continuing pandemic threat to global health. Nuclear medicine techniques can be used for functional imaging of (pathological)physiological processes at the cellular or molecular level and treatment approaches based on targeted delivery of therapeutic radionuclides. Ongoing development of radiolabeling procedures has significantly enhanced the accessibility of radiopharmaceuticals for in vivo molecular imaging or targeted radionuclide therapy, but their use for biosafety threats such as SARS-CoV-2 is confined by the contagious nature of these agents. Moreover, as the hospitals were full of patients suffering from COVID-19, the diagnostic and therapeutic usage of CT/PET scans were restricted.

The report covers exhaustive analysis on:The market size and industry growth rate of the global and regional market across various segmentsBased on extensive primary and secondary research this report provides comprehensive and granular dataKey technological advancements and market trends that shape the marketBrand dynamics and distribution trends in order to effectively plan strategies in the forecast period 2023-2029Key companies operating in the global Nuclear Medicine or Radiopharmaceuticals market and their market share

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Nuclear Medicine Or Radiopharmaceuticals Market To Grow At A 7.6% CAGR By 2028: Size, Share, Growth And Trends - openPR