Dublin, Oct. 02, 2020 (GLOBE NEWSWIRE) -- The "Nuclear Medicine/Radiopharmaceuticals Global Market - Forecast To 2027" report has been added to ResearchAndMarkets.com's offering.
The nuclear medicine global market is poised to grow at a high single digit CAGR from 2020 to 2027 to reach $10,742.7 million by 2027.
Over the past 50 years, the nuclear medicine field has displayed a strong link between investments in chemistry and the development of radionuclide and radio-labeled compounds which have impacted the healthcare practice. Nuclear medicine comprises diagnostic and therapeutic techniques that use radioisotopes for applications like oncology, cardiovascular and neurological disorders to provide information at both molecular and cellular levels for probing, tracking tissue function, study disease progression and assessing treatment responses.
Increasing radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, the abundance of radiopharmaceuticals, advancement in imaging technology (hybrid imaging) and alpha therapy based targeted cancer treatment is boosting nuclear medicine market growth. In addition, increasing need in emerging markets, production of radiopharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipment are the opportunities likely to propel the growth of the nuclear medicine market.
The nuclear medicinal market is classified based on modality into diagnosis and therapeutics. The diagnostics market commanded the largest market revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027 due to an increase in SPECT and PET procedures. The therapeutics segment is projected to grow at high teen CAGR from 2020 to 2027 due to technological advancements in the targeted treatment of cancers.
Potential new radioisotopes in the pipeline and advancement in neurological treatments are the key factors driving the growth of the therapeutics market. Diagnosis by products is segmented into SPECT and PET. SPECT market commanded the largest revenue in 2020 and is expected to grow at low single digit CAGR from 2020 to 2027 due to an increase in TC-99m isotope applications and product approvals.
Among SPECT is segmented based on isotopes into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Samarium (Sm-153), Xenon (Xe-133), Rhenium (Re-186) and others. Technetium (Tc-99m) accounted for the largest share in 2020 and is projected to grow at a mid single digit CAGR from 2020 to 2027 due to its extensive usage in various diagnostic applications and emerging sources to meet the demand. SPECT market by application is segmented into cardiology, pulmonary, oncology, nephrology, neurology, inflammation, thyroid gland, lymphology and others.
Cardiology accounted for the largest share in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027 due to an increase in the number of cardiac imaging cases using Tc-99m. Oncology is expected to grow at mid single digit CAGR from 2020 to 2027 due to increasing expanding usage in early screening tests in vulnerable populations in various developed countries.
PET is the fastest-growing segment with mid single digit CAGR from 2020 to 2027 due to an increase in the adoption of cyclotron for the production of PET isotopes increasing its availability. The PET isotopes include Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others.
Fluorodeoxyglucose (18F-FDG) accounted for the largest share in 2020 and the market is expected to grow at mid single digit CAGR from 2020 to 2027. Gallium (Ga-68) is expected to grow at high double digit CAGR from 2020 to 2027 due to an increase in usage as theranostic pair in assessing the suitability of patient for Lutathera and many emerging targeted radiotherapy agents.
PET by applications is segmented into cardiology, oncology, neurology, inflammation and others. Oncology accounted for the largest share in 2020 and is projected to grow at high single digit CAGR from 2020 to 2027 due to an increase in the patient pool of lung, thyroid, brain breast cancer and dementia related conditions.
Some of the key players of the nuclear medicine market are
- Curium Pharma (France)
- Bayer Group (Germany)
- GE Healthcare (U.S.)
- Cardinal Health (U.S.)
- Jubilant Life science (India)
- Lantheus Medical Imaging (U.S.)
- Novartis International AG (Advanced accelerator) (Switzerland)
- South African Nuclear Energy Corporation (NTP Radioisotopes SOC Ltd) (South Africa)
- Fujifilm Holding Corporation (Japan)
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Market Analysis
4 Nuclear Medicine Global Market, by Modality
5 Nuclear Medicine Global Market, by End-Users
6 Stable Isotopes
7 Nuclear Medicine Global Market by Region
8 Competitive Landscape
9 Major Player Profiles
Companies mentioned:
- C Molecular
- Actinium Pharmaceuticals, Inc
- Advanced Nuclear Medicine Ingredients
- Alpha Tau Medical
- American Elements
- American Radiolabeled Chemicals, Inc.
- Arronax Cyclotron
- Australian Nuclear Science and Technology Organization (Ansto)
- Bayer Group
- Beijing Zhibo Biomedical Technology Co. Ltd
- Best Medical International, Inc
- Board of Radiation & Isotope Technology
- Boston Scientific Corporation (Btg International Ltd)
- Bracco Imaging S.P.A ( Blue Earth Diagnosis)
- Buchem B.V.
- BV Cyclotron Vu
- BWX Technologies (Sotera Health LLC (Nordion Inc))
- Cambridge Isotope Laboratories, Inc. (Abx Gmbh)
- Cardinal Health
- Carecamp, Inc
- CDH Investments (Sirtex Medical Ltd.)
- Cellectar Biosciences
- Center of Molecular Research (Cmr)
- Centre for Probe Development and Commercialization
- Clarity’S Pharmaceuticals
- Curium Pharma
- Cyclopharm Limited
- Cyclotek
- Diamed
- Duchembio, Inc
- Eckert & Ziegler Strahlen
- Eczacibasi-Monrol Nuclear Products
- Eli Lilly & Co (Avid Radiopharmaceuticals)
- Enviro
- Eurisotop
- Fujifilm Holdings Corporation
- Futurechem Co. Ltd
- Ge Company
- Gt Medical Technologies Inc
- Hila Pharma Ltd
- Huayi Technology Co. Ltd (Huayi Isotopes Co)
- Institut Radiofarmacia Aplicada De Barcelona (Iarb)
- Institute of Isotopes
- International Isotopes Inc.
- Ire Elit
- Isoaid LLC
- Iso-Analytical Ltd.
- Isoflex Isotope
- Isologic
- Isorad Ltd
- Isoray Inc.
- Isoscience, LLC
- Iso-Tex Diagnostics, Inc.
- Isotopia Molecular Imaging Ltd.
- Ithemba Labs
- ITM Isotopen Technologien München AG
- JSC Isotope
- Jubilant Lifesciences
- Korea Atomic Energy Research Institute
- Lantheus Medical Imaging
- Life Molecular Imaging
- Linde Group
- Los Alamos National Laboratory (Lanl)
- Medical Isotopes, Inc
- Merck Kgaa (Sigma Aldrich-Isotec Inc)
- Mitsubishi Chemical Holdings (Tayyo Nippon Sanso Corporation)
- Moltek
- Navidea Biopharmaceutical Inc.
- Nihon-Medi Physics Co. Ltd.
- Novartis International AG (Aaa)
- Nuclear Research and Consultancy Group (Nrg)
- Nukem Isotopes, GmbH
- Omicron Biochemicals Inc
- Orano Med (Areva Med)
- Otsuka Pharmaceutical (Cambridge Isotope Laboratories, Inc.)
- Pars Isotope
- Perkinelmer Inc.
- Perma-Fix Environmental Services, Inc. (Perma Fix Medical Sa)
- Pet Pharm Biotech Co. Ltd
- Polatom
- Positron Pharma S.A.
- QMX Laboratories
- Radiopreparat
- Rosatom (Jsc Isotope)
- Rotop Pharmaka GmbH
- Samyoung Unitech Co. Ltd
- Saycare Therapeutics Pvt, Ltd.
- Shanghai Gms Pharma
- Shanghai Research Institute of Chemical Industry
- Siemens AG
- Solcom Limited
- South African Nuclear Energy Corporation (Ntp)
- Sun Pharmaceutical Industries Ltd.
- Swan Isotopen AG
- Telix Pharmaceuticals Limited
- Terumo Corporation
- Teva Pharmaceutical Industries Ltd (Auspex Pharmaceuticals)
- Theragenics Corporation
- Theragnostics Ltd
- Tianjin Seeds Biological Pharmacy Co. Ltd
- Trace Sciences International
- Urenco Stable Isotopes
- Von Gahlen Nederland B.V.
- Yantai Dongcheng Biochemicals Co. Ltd.
- Zag Zyklotron AG
- Zionexa Sas
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