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Nuclear Medicine/Radiopharmaceuticals Market Size Worth $10.4 Bn by 2027 | CAGR 12.6% – Nova One Advisor


New York: The Report on Nuclear Medicine/Radiopharmaceuticals Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Nuclear Medicine/Radiopharmaceuticals Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors. The global Nuclear Medicine/Radiopharmaceuticals market gathered revenue around USD 3.7 Billion in 2020 and market is set to grow USD 10.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 12.6% during the prediction period 2021 to 2027.

Overview of Nuclear Medicine/Radiopharmaceuticals Market Study

Nuclear Medicine/Radiopharmaceuticals market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

Growth in the nuclear medicine market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer and 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.

Opportunities analysis:

Nuclear medicine is majorly used for diagnosing CVD and cancers. The saturation of these markets has prompted a number of companies and stakeholders to focus on expanding the overall applications of radiopharmaceuticals. With the expanding application areas of radiopharmaceuticals, their demand and uptake are expected to increase in the coming years. This indicates an opportunity for players to expand their offerings and market shares by catering to the demand for radiopharmaceuticals in neurological applications.

Market Regional analysis:

The global market for nuclear medicine has been segmented on the basis of region into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America dominated the overall market in terms of revenue in 2020 due to high investments in R&D and support of government towards the use of medical isotopes are some factors driving the market. The Europe market also held a significant share in the global market in 2020.

The market in Asia Pacific is expected to grow at a significant rate during the forecast period. Increasing geriatric population and awareness about nuclear medicines & molecular imaging are contributing to the growth of the radiopharmaceuticals market in this region. Furthermore, this region is focusing on the development of radiopharmaceuticals for the diagnosis and treatment of various diseases. For instance, in August 2019, Indonesia’s National Nuclear Agency (BATAN), along with International Atomic Energy Agency (IAEA), developed new radiopharmaceuticals (99mTc-ethambutol) for diagnosis of tuberculosis.

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COVID-19 Impact on Nuclear Medicine/Radiopharmaceuticals Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Nuclear Medicine/Radiopharmaceuticals market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Nuclear Medicine/Radiopharmaceuticals market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Nuclear Medicine/Radiopharmaceuticals market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Nuclear Medicine/Radiopharmaceuticals market include:

Nordion, Inc.; Eckert & Ziegler Group; GE Healthcare; Bracco Imaging S.p.A. NTP Radioisotopes, Eczacýbaþý-Monrol Nuclear Products.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

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 Applications

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

By Procedural Volume Assessment

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

Why Buy this Report?

The purpose of Nova one advisor’s Nuclear Medicine/Radiopharmaceuticals market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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James Root have over 6+ years of experience working in business development, and customer retention. I’ve gained my experience through serving higher education, healthcare, automotive, aerospace, manufacturing, local government and hospitality businesses with technical solutions.

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