Nuclear medicines are used for diagnosis and treatment of various diseases related to heart, lungs, bones, brain, and others. Nuclear medicines are radioactive materials that are injected into bloodstream or are swallowed in small amount through which they can help in early detection of diseases.
A major factor driving growth of the global nuclear medicine market is increasing incidences of cardiovascular diseases and cancer. In addition, increasing demand for advanced and accurate diagnostic techniques and effective treatment methods are other factors fueling growth of the global market. High cost of medicines and stringent government regulation for drug approval are major factors hampering growth of the global market. Technological advancements towards use of molecular imagining technique to diagnose dementia is expected to present potential opportunities for major manufacturers in the global market during the next 10 years.
The global nuclear medicine market is segmented on the basis of product, application, and region. Among product segment, single-photon emission computed tomography (SPECT) segment is expected to account for highest share in the target market, owing to availability of developed and advanced SPECT imaging technology. The SPECT segment is expected to account for highest revenue share by 2026.
On the basis of application, the global market is segmented into diagnostics and therapeutics. The diagnostics segment includes neurology, cardiology, oncology, thyroid, lymphoma, and others. The therapeutics segment includes lymphoma, thyroid, bone metastasis, endocrine tumor, and others.
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The global nuclear medicine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, on the basis of region. The North America market accounts for largest revenue share in the global market, whereas the market in Asia Pacific nuclear medicine market is expected to witness highest growth over the forecast period.
Key players in the global market are Cardinal Health Inc., Eckert & Ziegler Group, GE Healthcare, Lantheus Medical Imaging Inc., Bayer AG, Bracco Imaging S.p.A, Eczacibasi-Monrol Nuclear Products, Advanced Accelerator Applications S.A., Mallinckrodt Pharmaceuticals, Jubilant Life Sciences, NTP Radioisotopes SOC Ltd., and other prominent players.