Nuclear Medicine Market by Product, Application, Type, End-Users

List of Tables

[184 Pages Report] The Nuclear Medicine Market size was estimated at USD 5.14 billion in 2023 and expected to reach USD 5.51 billion in 2024, at a CAGR 7.35% to reach USD 8.45 billion by 2030.

The nuclear medicine market refers to the healthcare industry concerned with the use and production of radioisotopes for medical imaging and therapy. The nuclear medicine market includes diagnostic radiopharmaceuticals used in imaging procedures including positron emission tomography (PET) and single-photon emission computed tomography (SPECT), as well as therapeutic radiopharmaceuticals for the treatment of various conditions. The advancements in imaging technologies and the development of new radiopharmaceuticals is influencing the market growth. The rising prevalence of chronic diseases requiring precise diagnostic techniques is enhancing the need for nuclear medicines. The increased awareness and acceptance of nuclear medicine procedures among patients and healthcare providers is contributing to market growth. However, stringent regulatory barriers and the high cost of product development has limited the adoption of nuclear medicines. High capital investment required for imaging equipment and specialized facilities is a challenging factor for the market. Moreover, manufacturing of novel radioisotopes with safer profiles and higher efficacy is attracting significant opportunities for market growth. The emergence of theranostics, integrating diagnostic and therapeutic capabilities within nuclear agents is also generating growth potential in the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.14 billion
Estimated Year [2024]	USD 5.51 billion
Forecast Year [2030]	USD 8.45 billion
CAGR (%)	7.35%

Product: Significance of diagnostic products in nuclear medicines

Diagnostic products in nuclear medicine are primarily used to diagnose and manage various diseases by detecting the radiation from a radioactive tracer that is introduced into the body. Diagnostic tracers target specific organs, bones, or tissues, allowing physicians to see how body parts function and detect anomalies. Therapeutic products in nuclear medicine are designed to treat various cancers and other diseases. Therapeutic products in nuclear medicine involve radiopharmaceuticals containing radioactive isotopes that specifically target and destroy diseased cells while minimizing damage to normal tissues.

End-Users: Diverse applications in hospitals and diagnostic centers

The hospitals, and diagnostic centers represent the largest end-user segment in the nuclear medicine market. Hospitals & diagnostic centers need diagnostic imaging and targeted therapeutic applications to provide accurate and prompt patient care. Research institutes significantly contribute to advancing nuclear medicine by exploring new radiopharmaceuticals, novel imaging techniques, and cutting-edge therapeutic methods.

Regional Insights

In the Americas region, the United States and Canada, the demand for nuclear medicine is driven by a sophisticated healthcare infrastructure, high healthcare expenditure, and a robust pipeline of radiopharmaceuticals. The United States and Canada remain the largest region for nuclear medicine due to its early adoption of advanced diagnostics, substantial investment in research and development, and favorable reimbursement policies. The European market is characterized by a high level of economic development, a well-established healthcare system, and significant government funding. In the European region, the demand for diagnostic and therapeutic radiopharmaceuticals is balanced by cost-containment measures and emphasis on evidence-based clinical outcomes. The United Arab Emirates (UAE) and Saudi Arabia are key contributors in the Middle East region, contributing to the market growth, with initiatives to increase accessibility to nuclear medical services. In the APAC region, china's nuclear medicine sector is rapidly expanding, due to government investment in healthcare infrastructure and an increasing incidence of cancer and cardiovascular diseases. Japan and India's nuclear medicine sector is growing due to rising healthcare awareness and improvements in healthcare facilities.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Nuclear Medicine Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Nuclear Medicine Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Nuclear Medicine Market, highlighting leading vendors and their innovative profiles. These include Actinium Pharmaceuticals, Inc., Bayer AG, BJ Madan & Co., Bracco S.p.A., BWX Technologies, Inc. by Framatome, Cardinal Health, Inc., Curium, Eckert & Ziegler Radiopharma GmbH, Eczacibasi Monrol Nuclear Products Co., GE Healthcare, IBA Radiopharma Solutions, Institute of Isotopes Co., Ltd., Isotope Joint Stock Company, Isotopia Molecular Imaging, Jubilant DraxImage, Inc., Lantheus Holdings, Inc., Nordic Nanovector ASA by Thor Medical, Nordion (Canada) Inc. by Sotera Health LLC, Northstar Medical Technologies LLC, Novartis AG, NTP Radioisotopes SOC Ltd., PharmaLogic Holdings LLC, Radiopharm Theranostics Limited, SHINE Technologies, LLC, and Sinotau Pharmaceuticals Group.

Market Segmentation & Coverage

This research report categorizes the Nuclear Medicine Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Diagnostic Products
  - PET
    - F-18
    - SR-82/RB-82

SPECT
- GA-67
- I-123
- TC-99m
- TL-201

Therapeutic Products
- Alpha Emitters
- Beta Emitters
  - I-131
  - Lu-117
  - Re-186
  - SM-153
  - Y-90

Brachytherapy
- Cesium-131
- Iodine-125
- Iridium-192
- Palladium-103

Application
- Bone Metastasis
- Cardiology
- Endocrine Tumor
- Lymphoma
- Oncology
- Thyroid

Type
- Diagnostic
  - PET Procedures
  - SPECT Procedures

Therapeutic
- Alpha Emitter Procedures
- Beta Emitter Procedures
- Brachytherapy Procedures

End-Users
- Hospitals & Diagnostic Centers
- Research institutes

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Nuclear Medicine Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Nuclear Medicine Market?

3. What are the technology trends and regulatory frameworks in the Nuclear Medicine Market?

4. What is the market share of the leading vendors in the Nuclear Medicine Market?

5. Which modes and strategic moves are suitable for entering the Nuclear Medicine Market?

Product Code: MRR-A339DAEFAF4C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising Incidence and Prevalence of Cancer Worldwide
  - 5.1.1.2. Increasing Use of PET and SPECT to Diagnose Heart disease and Neurological Disorders
  - 5.1.1.3. International Organizations' Initiatives and Awareness Supporting Nuclear Medicine
- 5.1.2. Restraints
  - 5.1.2.1. Shorter Half-Life of Nuclear Medicine
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging Popularity of Theranostics in Nuclear Medicine
  - 5.1.3.2. Continuous Product Developments and Advancements in Patented Technologies
- 5.1.4. Challenges
  - 5.1.4.1. Lack of Knowledge, Training, and Availability of Nuclear Medicine in Developing Countries
  - 5.1.4.2. Limited Availability of Skilled Radiologists and Practitioners Worldwide
5.2. Market Segmentation Analysis
- 5.2.1. Product: Significance of diagnostic products in nuclear medicines
- 5.2.2. End-Users: Diverse applications in hospitals and diagnostic centers
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Nuclear Medicine Market, by Product

6.1. Introduction
6.2. Diagnostic Products
6.3. Therapeutic Products

7. Nuclear Medicine Market, by Application

7.1. Introduction
7.2. Bone Metastasis
7.3. Cardiology
7.4. Endocrine Tumor
7.5. Lymphoma
7.6. Oncology
7.7. Thyroid

8. Nuclear Medicine Market, by Type

8.1. Introduction
8.2. Diagnostic
8.3. Therapeutic

9. Nuclear Medicine Market, by End-Users

9.1. Introduction
9.2. Hospitals & Diagnostic Centers
9.3. Research institutes

10. Americas Nuclear Medicine Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Nuclear Medicine Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Nuclear Medicine Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Shine Reaches Supply Agreement with Nucleus RadioPharma
- 13.3.2. ITM and Canadian Nuclear Labs Launch New Company
- 13.3.3. Life Healthcare Set to Acquire Nuclear-medicine Operation in SA

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio