Global Nuclear Medicine Market Size study, by Type (Diagnostics, Therapeutics), by Application (Neurology, Cardiology, Oncology, Others), by End User (Hospitals & Clinics, Diagnostic Centers, Others) and Regional Forecasts 2022-2032

Description

Global Nuclear Medicine Market is valued at approximately USD 8.94 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 19.4% over the forecast period 2024-2032. Nuclear medicine encompasses a range of pharmaceutical drugs containing radioactive formulations of chemical elements known as nuclear medicine radioisotopes. These drugs are vital for both diagnostic and therapeutic procedures, based on the radiation type these radioisotopes emit. Applications of these products span from imaging various organs, including the brain, heart, bones, and kidneys, to treating different cancer forms, which is poised to boost market growth.

The rising prevalence of cancers, and cardiovascular, and neurological diseases globally fuels the need for effective therapeutic and diagnostic products, enhancing patient treatment outcomes. This trend is expected to drive the adoption of nuclear medicine radioisotopes during the forecast period. Positive initiatives from governments and agencies, such as the International Atomic Energy Agency (IAEA), to improve radiopharmaceutical supply chains, along with strategic collaborations and new product launches by market players, are further anticipated to augment market growth. For example, Life Healthcare acquired TheraMed Nuclear's non-clinical imaging operations in Gauteng in March 2023 to expand its presence in the South African market. Similarly, Bayer AG acquired PSMA Therapeutics Inc. and Noria Therapeutics Inc. in June 2021 to enhance its oncology portfolio.

Moreover, the rising adoption of AI in radiopharmaceutical development, increasing investment in R&D, as well as strategic collaborations and product launches present various lucrative opportunities over the forecast years. However, competition from other medical imaging modalities such as MRI and CT scanners may restrict market growth. The availability of alternative imaging options with more features and greater application areas could limit the uptake of nuclear imaging systems. Additionally, reimbursement issues and the higher costs of PET scans compared to MRI scans may also impede market growth.

The key regions considered for the Global Nuclear Medicine Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Nuclear Medicine Market in terms of revenue. The market growth in the region is being attributed to factors including its strong innovation and adoption of therapeutic and diagnostic radiopharmaceuticals. The region's high prevalence of chronic diseases and favorable reimbursement trends contribute to this growth. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by improving healthcare infrastructures, increased adoption of advanced diagnostic and therapeutic products, and a growing patient population requiring superior treatments.

Major market players included in this report are:

GE HealthCare (U.S.)
Lantheus Holdings, Inc. (U.S.)
Nordion (Canada) Inc. (Sotera Health) (Canada)
Bracco (Italy)
Curium (France)
Bayer AG (Germany)
Siemens Healthineers AG (Germany)
Novartis AG (Switzerland)
Jubilant Pharmova Limited (India)
Cardinal Health (U.S.)
Norgine (Netherlands)
DuchemBio, Co., Ltd. (South Korea)
DraxImage,Inc. (Canada)
Eckert & Ziegler (Germany)
Isotope JSC (Russia)

The detailed segments and sub-segment of the market are explained below:

By Type:

Diagnostics
Therapeutics

By Application:

Neurology
Cardiology
Oncology
Others

By End User:

Hospitals & Clinics
Diagnostic Centers
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Nuclear Medicine Market Executive Summary

1.1. Global Nuclear Medicine Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
- 1.3.3. By End User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Nuclear Medicine Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Nuclear Medicine Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Prevalence of Chronic Diseases
- 3.1.2. Technological Advancements
- 3.1.3. Government and Agency Initiatives
3.2. Market Challenges
- 3.2.1. Competition from Other Imaging Modalities
- 3.2.2. Reimbursement Issues
3.3. Market Opportunities
- 3.3.1. Rising Adoption of AI in Radiopharmaceutical Development
- 3.3.2. Increasing Investment in R&D
- 3.3.3. Strategic Collaborations and Product Launches

Chapter 4. Global Nuclear Medicine Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Nuclear Medicine Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Nuclear Medicine Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Diagnostics
- 5.2.2. Therapeutics

Chapter 6. Global Nuclear Medicine Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Nuclear Medicine Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Neurology
- 6.2.2. Cardiology
- 6.2.3. Oncology
- 6.2.4. Others

Chapter 7. Global Nuclear Medicine Market Size & Forecasts by End User 2022-2032

7.1. Segment Dashboard
7.2. Global Nuclear Medicine Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Hospitals & Clinics
- 7.2.2. Diagnostic Centers
- 7.2.3. Others

Chapter 8. Global Nuclear Medicine Market Size & Forecasts by Region 2022-2032

8.1. North America Nuclear Medicine Market
- 8.1.1. U.S. Nuclear Medicine Market
  - 8.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.1.1.3. End User breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Nuclear Medicine Market
8.2. Europe Nuclear Medicine Market
- 8.2.1. UK Nuclear Medicine Market
- 8.2.2. Germany Nuclear Medicine Market
- 8.2.3. France Nuclear Medicine Market
- 8.2.4. Spain Nuclear Medicine Market
- 8.2.5. Italy Nuclear Medicine Market
- 8.2.6. Rest of Europe Nuclear Medicine Market
8.3. Asia-Pacific Nuclear Medicine Market
- 8.3.1. China Nuclear Medicine Market
- 8.3.2. India Nuclear Medicine Market
- 8.3.3. Japan Nuclear Medicine Market
- 8.3.4. Australia Nuclear Medicine Market
- 8.3.5. South Korea Nuclear Medicine Market
- 8.3.6. Rest of Asia Pacific Nuclear Medicine Market
8.4. Latin America Nuclear Medicine Market
- 8.4.1. Brazil Nuclear Medicine Market
- 8.4.2. Mexico Nuclear Medicine Market
- 8.4.3. Rest of Latin America Nuclear Medicine Market
8.5. Middle East & Africa Nuclear Medicine Market
- 8.5.1. Saudi Arabia Nuclear Medicine Market
- 8.5.2. South Africa Nuclear Medicine Market
- 8.5.3. Rest of Middle East & Africa Nuclear Medicine Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. GE HealthCare
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Lantheus Holdings, Inc.
- 9.3.3. Nordion (Canada) Inc. (Sotera Health)
- 9.3.4. Bracco
- 9.3.5. Curium
- 9.3.6. Bayer AG
- 9.3.7. Siemens Healthineers AG
- 9.3.8. Novartis AG
- 9.3.9. Jubilant Pharmova Limited
- 9.3.10. Cardinal Health
- 9.3.11. Norgine
- 9.3.12. DuchemBio, Co., Ltd.
- 9.3.13. DraxImage,Inc. (Canada)
- 9.3.14. Eckert & Ziegler (Germany)
- 9.3.15. Isotope JSC (Russia)

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes