Nuclear medicines are radioactive materials called radiotracers that are injected into the bloodstream, inhaled or swallowed. It is used in diagnosis of various diseases. The radiotracer travels through the area to be examined and the energy released from these radiotracers in the form of gamma rays are detected by a special camera and a computer. Nuclear medicine imaging helps to collect unique information that often cannot be obtained using other imaging techniques and offers the scope to identify disease in its earliest stages. The Nuclear Medicine Market, in terms of revenue, was valued at US$ 4.62 Bn in 2020 and is expected to reach US$ 6.81 Bn by 2030.
Some of the key participants of global nuclear medicine market are Cardinal Health, Inc., Medtronic, Minimally Invasive Therapies, Ion Beam Applications S.A (IBA Worldwide), Lantheus Medical Imaging Inc., General Electric Company, Bracco Imaging S.p.A, Bayer AG, Advanced Medical Isotope Corporation, Alliance Medical Limited, Alseres Pharmaceuticals, Inc., Avid Radiopharmaceuticals, Inc., Actinium Pharmaceuticals, Inc., Immunomedics, Inc., Jubilant Pharma LLC, Mallinckrodt Pharmaceuticals, Medi-Radiopharma Co., Ltd., Peregrine Pharmaceuticals, Inc. and Positron Corporation, Nordion (Canada) Inc. amongst others.
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Nuclear Medicine Market, by Product Type
Global market based on the product type is classified as diagnostic medicine and therapeutic medicine. In the diagnosis, there are two types of imaging techniques which includes, single-photon emission computed tomography (SPECT) and positron emission tomography (PET). These techniques are very helpful in diagnosis of gall bladder disease, thyroid disease, cancer, Alzheimer's disease, heart conditions and brain conditions. The diagnostic medicine held the largest share in global nuclear medicine market and is also anticipated to be the fastest growing market in terms of the CAGR. The growing importance of diagnosis of fatal diseases among people, has driven the diagnostic medicine segment.
Nuclear Medicine Market, by Region
In the global market, North America is expected to be the leading market during the forecast period. The United States has shown substantial growth in the North America region. This growth is mainly attributed to the advancement in technology such as the development of molecular imaging based on the tracer principle, the introduction of new radiopharmaceuticals for diagnosis and therapy and hybrid imaging. The Europe and Asia Pacific areas account for noteworthy shares in the nuclear medicine market.
Competitive Market Share
The report provides both, qualitative and quantitative research of the market, as well as it helps to gain important insights of current and future market and trending technologies adopted by the key players. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as mergers and acquisitions(M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
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