A detailed analysis of the Global Nuclear Medicines Market 2024 is provided, including global, regional, and country-level market sizes, segmentation market growth, market share, competitive landscape, sales analysis, impact of domestic and global Nuclear Medicines Market players, value chain optimization, trade regulations, recent developments, strategic market growth analyses, product launches, expanding the area market, and technological advances.
The report provides an examination of the growth rate, market share, size, current and emerging trends, production and consumption ratios, dynamics of the industrial chain, metrics related to demand and supply, import and export statistics, revenue contribution, and the presence of key players within the Nuclear Medicines sector. It is organized into key global regions. Furthermore, a thorough country-by-country analysis is included to provide a more in-depth perspective on the regional distribution and growth of the Nuclear Medicines market.
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The global market size for nuclear medicines reached USD 5.2 billion in 2022 and is projected to attain USD 9.7 billion by 2032, marking a steady revenue compound annual growth rate (CAGR) of 6.5% over the forecast period. A primary driver behind the expansion of market revenue is the worldwide increase in the incidence of cancer and other chronic diseases. Nuclear medicine plays a crucial role in the diagnosis and treatment of various conditions, including cancer, cardiovascular diseases, and neurological disorders. The radioactive isotopes utilized in these medications are administered into the patient’s body, where the emitted radiation is leveraged for imaging purposes or to target and eliminate cancer cells.
The rising global prevalence of cancer and other chronic diseases stands out as a pivotal factor contributing to the growth in market revenue. According to the World Health Organization, cancer ranks as the second leading cause of death globally, with an estimated 9.6 million deaths in 2018. Additionally, the aging population contributes to an escalating demand for nuclear medications. As individuals age, the likelihood of developing cancer and other chronic diseases increases, making nuclear treatments more sought after in addressing the healthcare needs of an aging demographic.
In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.
Key Players covered in this report are
- GE Healthcare
- Siemens Healthineers
- Curium Pharma
- Lantheus Medical Imaging
- Cardinal Health
- Jubilant Pharma
- Nordion Inc.
- Bracco Imaging S.p.A.
- Bayer AG
- Eczacıbaşı-Monrol Nuclear Products
- In 2021, GE Healthcare announced the launch of a new imaging agent called Viscover™, which is used in Nuclear Medicine Imaging for the detection of bone metastases in patients with prostate and breast cancers. The imaging agent is expected to provide better diagnostic accuracy and improve patient outcomes.
- In 2020, Siemens Healthineers announced the acquisition of Varian Medical Systems, a leading manufacturer of Medical Devices and software for the treatment of cancer. The acquisition was aimed at expanding Siemens’ portfolio of oncology solutions and strengthening its position in the global nuclear medicines market.
- In 2020, Curium Pharma announced the launch of a new radiopharmaceutical called PyL™, which is used in the detection of Prostate Cancer. The radiopharmaceutical is expected to improve the accuracy of prostate cancer diagnosis and help in the development of personalized treatment plans.
- In 2019, Lantheus Medical Imaging announced the acquisition of Progenics Pharmaceuticals, a leading developer of nuclear medicines for oncology and rare disease indications. The acquisition was aimed at expanding Lantheus’ portfolio of imaging agents and strengthening its position in the global nuclear medicines market.
- In 2018, Cardinal Health announced the acquisition of nuclear pharmacy operator Triad Isotopes Inc. The acquisition was aimed at expanding Cardinal Health’s presence in the nuclear medicines market and strengthening its position in the United States.
- In 2017, Jubilant Pharma announced the acquisition of Triad Isotopes Inc.’s radiopharmacy business, a leading provider of nuclear medicines in the United States. The acquisition was aimed at expanding Jubilant Pharma’s presence in the nuclear medicines market and strengthening its position in North America.
- In 2016, Nordion Inc. announced the acquisition of International Isotopes Inc.’s radiopharmaceutical business, a leading provider of nuclear medicines in the United States. The acquisition was aimed at expanding Nordion’s portfolio of imaging agents and strengthening its position in the global nuclear medicines market.
Segments Covered in Report:
|By Product Type Outlook
|By Application Outlook
|By End-Use Outlook
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Based on Region market is segmented into:
- North America
- South America
- Middle East & Africa
Major Points covered in this report are as below:
- An analysis of Nuclear Medicines industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
- In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
- In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
- This report provides information on the market status of Nuclear Medicines manufacturers and provides valuable insight into the market for companies and individuals.
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We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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