Global Nuclear Medicine Market Size, Trends, By Diagnostics (Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET)), By Therapeutics (Alpha Emitters, Beta Emitters, and Brachytherapy), By Applications (Cardiology, Neurology, Oncology, and Other Applications), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030
Global Nuclear Medicine Market
The Global Nuclear Medicine Market was valued at US$ 5.97 Bn in 2022 estimated to reach US$ 11.59 Bn by 2030, with a CAGR of 8.33% from 2023-2030.
In the field of medicine known as nuclear medicine, numerous ailments such as cancer, cardiac disease, and neurological problems are diagnosed and treated using radioactive materials called radiopharmaceuticals. High-tech cameras allow medical personnel to monitor the radioactive tracers' progress. Additionally, two essential imaging modalities in nuclear medicine are single-photon emission computed tomography (SPECT) and positron emission tomography (PET).
Market Drivers
The availability of a strong product pipeline and supportive government programs to increase accessibility to nuclear medicine is anticipated to drive market growth in the coming years. Clinical trials are being conducted on several products, such as betalains, omburtamab, yttrium-90 microspheres, PNT2003, and 177Lu-PNT2002. The U.S. has a favorable reimbursement environment for radiopharmaceuticals is expected to stimulate market expansion.
In addition, therapy requirements for patients are growing improvements in disease diagnosis and therapy as well as the approval of novel nuclear medicine-based technologies. For instance, GE Healthcare announced in September 2021 the introduction of a unique scanner with a new automated workflow feature that delivers an excellent view of cardiac anatomy and pathology to aid physicians in selecting the best course of treatment for a patient.
Market Restraints
The stringent regulatory guidelines and high cost of therapeutic and diagnostic instruments and procedures are expected to hinder market growth.
Market Segmentation
The scope of the Global Nuclear Medicine Market covers segmentation based on Diagnostics, Therapeutics, Applications, and Region.
Based on Diagnostics, the market is segmented into Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET).
Based on Therapeutics, the market is classified into Alpha Emitters, Beta Emitters, and Brachytherapy.
Based on Applications, the market is bifurcated into Cardiology, Neurology, Oncology, and Other Applications.
Regional Analysis
The Global Nuclear Medicine Market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The primary market for nuclear medicine is North America. The United States' booming healthcare industry, rising cancer rates, rising geriatric population, rise in product launches driving up radioisotope usage, and increased initiatives and investments in cutting-edge healthcare solutions for cancer treatment are all expected to contribute to the market's expansion. In the United States, funding for cancer illness research and treatment is likewise rising. The National Centre for Health Statistics (NCHS) of the Centres for Disease Control & Prevention (CDC) has produced data that estimates cancer-related investments might reach up to USD 7,176 million in 2021.
Key Developments
The Department of Nuclear Medicine at PSG Hospitals in Coimbatore, which is outfitted with cutting-edge technology for diagnosing cancer and other disorders, was opened in April 2022 by Health Minister Ma. Subramanian.
A program enabling nuclear medicine facilities the chance to become designated and certified Centres of Excellence in Radiopharmaceutical Therapy was introduced by SNMMI in February 2022. Strict regulatory, training, certification, experience, and performance standards will be met by the centers, resulting in optimal patient selection and radiopharmaceutical therapy outcomes.
Key Players
Mallinckrodt plc., General Electric Co., Medtronic, plc. (Covidien, acquired by Medtronic), Bayer AG, Cardinal Health, Inc., Lantheus Medical Imaging, Inc., IBA Group, Bracco Imaging S.p.A, NTP Radioisotopes SOC Ltd., Advanced Accelerator Applications S.A.
Market Taxonomy
By Diagnostics
• Single Photon Emission Computed Tomography (SPECT)
• Positron Emission Tomography (PET))
By Therapeutics
• Alpha Emitters
• Beta Emitters
• Brachytherapy
By Applications
• Cardiology
• Neurology
• Oncology
• Other Applications
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the Key Opportunities in Global Bonsai Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
Global Nuclear Medicine Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Nuclear Medicine Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn.
4.2.6 Post covid-19 world Supply& Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Nuclear Medicine Market, By Diagnostics
5.1 Y-o-Y Growth Comparison, By Therapeutics and Services
5.2 Global Nuclear Medicine Market Share Analysis, By Diagnostics
5.3 Global Nuclear Medicine Market Size and Forecast, By Diagnostics
5.3.1 Single Photon Emission Computed Tomography (SPECT)
5.3.2 Positron Emission Tomography (PET)
6 Global Nuclear Medicine Market, By Therapeutics
6.1 Y-o-Y Growth Comparison, By Therapeutics
6.2 Global Nuclear Medicine Market Share Analysis, By Therapeutics
6.3 Global Nuclear Medicine Market Size and Forecast, By Therapeutics
6.3.1 Alpha Emitters
6.3.2 Beta Emitters
6.3.3 Brachytherapy
7 Global Nuclear Medicine Market, By Applications
7.1 Y-o-Y Growth Comparison, By Applications
7.2 Global Nuclear Medicine Market Share Analysis, By Applications
7.3 Global Nuclear Medicine Market Size and Forecast, By Applications
7.3.1 Cardiology
7.3.2 Neurology
7.3.3 Oncology
7.3.4 Other Applications
8 Global Nuclear Medicine Market, By Region
8.1 Global Nuclear Medicine Market Share Analysis, By Region
8.2 Global Nuclear Medicine Market Size and Forecast, By Region
8.3 Global Nuclear Medicine Market Trends and Forecast, By Region
9 North America Nuclear Medicine Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Nuclear Medicine Market Share Analysis, By Diagnostics
9.3 North America Nuclear Medicine Market Size and Forecast, By Therapeutics
9.4 North America Nuclear Medicine Market Size and Forecast, By Applications
9.5 North America Nuclear Medicine Market Size and Forecast, By Country
9.5.1 U.S.
9.5.1.1 Market Size and Forecast, By Diagnostics
9.5.1.2 Market Size and Forecast, By Therapeutics
9.5.1.3 Market Size and Forecast, By Applications
9.5.2 Canada
9.5.2.1 Market Size and Forecast, By Diagnostics
9.5.2.2 Market Size and Forecast, By Therapeutics
9.5.2.3 Market Size and Forecast, By Applications
9.5.3 Mexico
9.5.3.1 Market Size and Forecast, By Diagnostics
9.5.3.2 Market Size and Forecast, By Therapeutics
9.5.3.3 Market Size and Forecast, By Applications
10 Europe Nuclear Medicine Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Nuclear Medicine Market Share Analysis, By Diagnostics
10.3 Europe Nuclear Medicine Market Size and Forecast, By Therapeutics
10.4 Europe Nuclear Medicine Market Size and Forecast, By Applications
10.5 Europe Nuclear Medicine Market Size and Forecast, By Country
10.5.1 Germany
10.5.1.1 Market Size and Forecast, By Diagnostics
10.5.1.2 Market Size and Forecast, By Therapeutics
10.5.1.3 Market Size and Forecast, By Applications
10.5.2 France
10.5.2.1 Market Size and Forecast, By Diagnostics
10.5.2.2 Market Size and Forecast, By Therapeutics
10.5.2.3 Market Size and Forecast, By Applications
10.5.3 UK
10.5.3.1 Market Size and Forecast, By Diagnostics
10.5.3.2 Market Size and Forecast, By Therapeutics
10.5.3.3 Market Size and Forecast, By Applications
10.5.4. Russia
10.5.4.1 Market Size and Forecast, By Diagnostics
10.5.4.2 Market Size and Forecast, By Therapeutics
10.5.4.3 Market Size and Forecast, By Applications
10.5.5. Italy
10.5.5.1 Market Size and Forecast, By Diagnostics
10.5.5.2 Market Size and Forecast, By Therapeutics
10.5.5.3 Market Size and Forecast, By Applications
10.5.6 Spain
10.5.6.1 Market Size and Forecast, By Diagnostics
10.5.6.2 Market Size and Forecast, By Therapeutics
10.5.6.3 Market Size and Forecast, By Applications
10.5.7 Rest of Europe
10.5.7.1 Market Size and Forecast, By Diagnostics
10.5.7.2 Market Size and Forecast, By Therapeutics
10.5.7.3 Market Size and Forecast, By Applications
11 Asia Pacific Nuclear Medicine Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Nuclear Medicine Market Share Analysis, By Diagnostics
11.3 Asia Pacific Nuclear Medicine Market Size and Forecast, By Therapeutics
11.4 Asia Pacific Nuclear Medicine Market Size and Forecast, By Applications
11.5 Asia Pacific Nuclear Medicine Market Size and Forecast, By Country
11.5.1 China
11.5.1.1 Market Size and Forecast, By Diagnostics
11.5.1.2 Market Size and Forecast, By Therapeutics
11.5.1.3 Market Size and Forecast, By Applications
11.5.2 Japan
11.5.2.1 Market Size and Forecast, By Diagnostics
11.5.2.2 Market Size and Forecast, By Therapeutics
11.5.2.3 Market Size and Forecast, By Applications
11.5.3 India
11.5.3.1 Market Size and Forecast, By Diagnostics
11.5.3.2 Market Size and Forecast, By Therapeutics
11.5.3.3 Market Size and Forecast, By Applications
11.5.4. South Korea
11.5.4.1 Market Size and Forecast, By Diagnostics
11.5.4.2 Market Size and Forecast, By Therapeutics
11.5.4.3 Market Size and Forecast, By Applications
11.5.5. Australia
11.5.5.1 Market Size and Forecast, By Therapeutics and Services
11.5.5.2 Market Size and Forecast, By Therapeutics
11.5.5.3 Market Size and Forecast, By Applications
11.5.6. New Zealand
11.5.6.1 Market Size and Forecast, By Diagnostics
11.5.6.2 Market Size and Forecast, By Therapeutics
11.5.6.3 Market Size and Forecast, By Applications
11.5.7 Singapore
11.5.7.1 Market Size and Forecast, By Diagnostics
11.5.7.2 Market Size and Forecast, By Therapeutics
11.5.7.3 Market Size and Forecast, By Applications
11.5.8. Malaysia
11.5.8.1 Market Size and Forecast, By Therapeutics and Services
11.5.8.2 Market Size and Forecast, By Therapeutics
11.5.8.3 Market Size and Forecast, By Applications
11.5.9 Rest of Asia
11.5.9.1 Market Size and Forecast, By Diagnostics
11.5.9.2 Market Size and Forecast, By Therapeutics
11.5.9.3 Market Size and Forecast, By Applications
12 Latin America Nuclear Medicine Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Nuclear Medicine Market Share Analysis, By Diagnostics
12.3 Latin America Nuclear Medicine Market Size and Forecast, By Therapeutics
12.4 Latin America Nuclear Medicine Market Size and Forecast, By Applications
12.5 Latin America Nuclear Medicine Market Size and Forecast, By Country
12.5.1 Brazil
12.5.1.1 Market Size and Forecast, By Diagnostics
12.5.1.2 Market Size and Forecast, By Therapeutics
12.5.1.3 Market Size and Forecast, By Applications
12.5.2 Argentina
12.5.2.1 Market Size and Forecast, By Diagnostics
12.5.2.2 Market Size and Forecast, By Therapeutics
12.5.2.3 Market Size and Forecast, By Applications
12.5.3. Colombia
12.5.3.1 Market Size and Forecast, By Diagnostics
12.5.3.2 Market Size and Forecast, By Therapeutics
12.5.3.3 Market Size and Forecast, By Applications
12.5.4. Peru
12.5.4.1 Market Size and Forecast, By Diagnostics
12.5.4.2 Market Size and Forecast, By Therapeutics
12.5.4.3 Market Size and Forecast, By Applications
12.5.5 Chile
12.5.5.1 Market Size and Forecast, By Diagnostics
12.5.5.2 Market Size and Forecast, By Therapeutics
12.5.5.3 Market Size and Forecast, By Applications
12.5.6 Venezuela
12.5.6.1 Market Size and Forecast, By Diagnostics
12.5.6.2 Market Size and Forecast, By Therapeutics
12.5.6.3 Market Size and Forecast, By Applications
12.5.7 Rest of Latin America
12.5.7.1 Market Size and Forecast, By Diagnostics
12.5.7.2 Market Size and Forecast, By Therapeutics
12.5.7.3 Market Size and Forecast, By Applications
13 Middle East Nuclear Medicine Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Middle East Nuclear Medicine Market Share Analysis, By Diagnostics
13.3 Middle East Nuclear Medicine Market Size and Forecast, By Therapeutics
13.4 Middle East Nuclear Medicine Market Size and Forecast, By Applications
13.5 Middle East Nuclear Medicine Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.1.1 Market Size and Forecast, By Diagnostics
13.5.1.2 Market Size and Forecast, By Therapeutics
13.5.1.3 Market Size and Forecast, By Applications
13.5.2 UAE
13.5.2.1 Market Size and Forecast, By Diagnostics
13.5.2.2 Market Size and Forecast, By Therapeutics
13.5.2.3 Market Size and Forecast, By Applications
13.5.3 Egypt
13.5.3.1 Market Size and Forecast, By Diagnostics
13.5.3.2 Market Size and Forecast, By Therapeutics
13.5.3.3 Market Size and Forecast, By Applications
13.5.4 Kuwait
13.5.4.1 Market Size and Forecast, By Diagnostics
13.5.4.2 Market Size and Forecast, By Therapeutics
13.5.4.3 Market Size and Forecast, By Applications
13.5.5 South Africa
13.5.5.1 Market Size and Forecast, By Diagnostics
13.5.5.2 Market Size and Forecast, By Therapeutics
13.5.5.3 Market Size and Forecast, By Applications
13.5.5 Rest of Middle East & Africa
13.5.6.1 Market Size and Forecast, By Diagnostics
13.5.6.2 Market Size and Forecast, By Therapeutics
13.5.6.3 Market Size and Forecast, By Applications
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Mallinckrodt plc.
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 General Electric Co.
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Medtronic, plc. (Covidien, acquired by Medtronic)
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Bayer AG
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Cardinal Health, Inc.
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Lantheus Medical Imaging, Inc.
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 IBA Group
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Bracco Imaging S.p.A
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 NTP Radioisotopes SOC Ltd.
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Advanced Accelerator Applications S.A.
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
