Nuclear Medicine Market Projected Growth at 9.2% CAGR to Reach USD 11.4 billion by 2031 | Exclusive Research Report by Transparency Market Research Inc.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 23, 2024 (GLOBE NEWSWIRE) -- According to a report published by Transparency Market Research, the global nuclear medicine market (핵의학 시장) was worth US$ 5.2 Bn in 2022 and is expected to reach US$ 11.4 Bn by 2031, at a CAGR of 9.2 % between 2023 and 2031.
Nuclear medicine is a specialized medical imaging and treatment field that utilizes small amounts of radioactive materials, or radiopharmaceuticals, to diagnose and treat various diseases. This technology enables healthcare providers to visualize the function and structure of organs, tissues, and systems in the body at a molecular level.
Nuclear medicine imaging techniques such as Positron Emission Tomography (PET) and Single-Photon Emission Computed Tomography (SPECT) are widely used for detecting conditions like cancer, cardiovascular diseases, and neurological disorders. The precision and early detection offered by nuclear medicine have made it an integral part of modern diagnostics and therapeutics.
Nuclear Medicine Market at the Edge
Nuclear medicine offers significant advantages that are driving its increasing adoption in healthcare. One of the key benefits is its ability to provide highly detailed and accurate images of internal body functions at the molecular level. Unlike conventional imaging methods, nuclear medicine can detect diseases in their early stages, such as cancer, cardiovascular conditions, and neurological disorders, enabling more effective and timely treatments.
For More Details, Request for a Sample of this Research Report: https://www.transparencymarketresearch.com/nuclear-medicine-market.html
This precision is critical in creating personalized treatment plans, improving patient outcomes, and reducing the need for invasive procedures. Additionally, nuclear medicine not only aids in diagnosis but is also used in therapeutic applications, such as targeted radiation treatments for cancer, further expanding its role in modern medicine.
Several factors are contributing to the growth of the nuclear medicine market. The increasing prevalence of chronic diseases like cancer and heart disease is a major driver, as nuclear imaging is crucial for early detection and management. The shift toward personalized medicine, which tailors treatments based on a patient’s specific condition, also boosts the demand for nuclear medicine as it allows for more targeted and effective therapies. Moreover, technological advancements in imaging techniques such as PET and SPECT have significantly improved the accuracy and safety of nuclear medicine, making it more accessible and widely accepted.
Another factor fueling market expansion is the growing availability of radiopharmaceuticals. Innovations in this area are leading to the development of more effective diagnostic and therapeutic agents. Additionally, rising investments in healthcare infrastructure and the increasing number of specialized nuclear medicine facilities are helping to meet the growing demand. Governments and private players are recognizing the importance of nuclear medicine and investing heavily in research and development activities, further accelerating the market growth. However, while challenges such as high equipment costs and the short shelf life of radioisotopes exist, ongoing advancements and rising awareness of nuclear medicine’s benefits are expected to sustain its market momentum.
Nuclear Medicine Market Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023-2031 |
| Base Year | 2017-2021 |
| Size in 2022 | US$ 5.2 Bn |
| Forecast (Value) in 2031 | US$ 11.4 Bn |
| Growth Rate (CAGR) | 9.2% |
| No. of Pages | 187 Pages |
| Segments covered | By Type, By Application, By End-user, By Region. |
Nuclear Medicine Market Regional Insights
• North America generated the largest market share in 2023. The region is also expected to maintain its dominance during the forecast period.
According to the nuclear medicine market regional insights, North America held the largest share in 2023 during various factors. One of the primary factors contributing to this growth is the increasing prevalence of chronic diseases such as cancer, cardiovascular conditions, and neurological disorders.
As these diseases require an early and precise diagnosis for effective management, nuclear medicine's ability to detect abnormalities at the molecular level has become indispensable. In particular, the growing incidence of cancer has led to higher demand for nuclear imaging techniques like PET and SPECT scans, which are essential for detecting tumors and monitoring the effectiveness of treatments.
Another key factor boosting the market is the region’s strong focus on research and development. North America, especially the United States, is home to some of the leading healthcare research institutions, which are continuously innovating in the field of radiopharmaceuticals and nuclear medicine technologies.
Investments in cutting-edge medical equipment and the development of advanced imaging techniques are enabling more accurate diagnostics and safer treatment options, further driving market expansion. Additionally, the region benefits from a well-established healthcare infrastructure, which supports the adoption of sophisticated nuclear medicine technologies across hospitals and diagnostic centers.
Prominent Key Players Operating in Nuclear Medicine Industry
GE Healthcare, Siemens Healthineers, Philips Healthcare, Cardinal Health, Bracco Imaging S.p.A., Curium Pharma, Eckert & Ziegler, Jubilant Radiopharma, Lantheus Medical Imaging, Nordion, Inc., Advanced Accelerator Applications (AAA), IBA Radiopharma Solutions, NorthStar Medical Radioisotopes, Polatom and Isotopia Molecular Imaging are driving the market expansion.
In September 2024, Smilow Cancer Hospital, part of Yale New Haven Heath in Connecticut, implemented a radiotherapy treatment plan for patients with metastatic cancer that combines different imaging modalities using RefleXion Medical's X1 platform.
Multitarget treatment, the company’s most recent upgrade for RefleXion's X1 platform, allows physicians to combine Scintix's biology-guided radiotherapy, a new modality for tumors in the lung or bone, with conventional stereotactic body radiotherapy (SBRT) for solid tumors in other body locations. Another technology introduced in the upgrade is the ability to visualize Scintix data at defined intervals during treatment.
For Complete Report Details, Request Sample Copy from Here – https://www.transparencymarketresearch.com/nuclear-medicine-market.html
Nuclear Medicine Market Segmentation
Type
- Diagnostic Nuclear Medicine
- PECT Radiopharmaceuticals
- PET Radiopharmaceuticals
- Therapeutic Nuclear Medicine
- Alpha Emitters
- Beta Emitters
- Brachytherapy Isotopes
Application
- Cardiology
- Neurology
- Oncology
- Pulmonology
- Gastroenterology
- Others
End-user
- Hospitals
- Diagnostic Centers
- Individual Practice
- Group Practice
- Research Institutes
Explore More Trending Report by Transparency Market Research:
- Wearable Heart Monitoring Devices Market (ウェアラブル心臓モニタリングデバイス市場) – The global wearable heart monitoring devices market size to hit us$ 5.8 billion, globally, by 2031, Expanding at a CAGR of 12.5% Says, Transparency Market Research
- Lactate Meter Market (Markt für Laktatmessgeräte) – The global lactate meter market size was worth USD 141.3 Mn in 2022 and is expected to reach USD 299.5 Mn by 2031 with a CAGR of 8.5%.
- Metabolomics Market (سوق الأيض) – The global metabolomics market is projected to advance at a CAGR of 12.3% from 2024 to 2034 and reach more than US$ 9.5 Billion by the end of 2034.
- In-vitro Colorectal Cancer Screening Tests Market (Mercato dei test di screening in vitro del cancro del colon-retto) – The global In-vitro colorectal cancer screening tests market is projected to grow at a CAGR of 7.1% from 2024 to 2034 and reach more than US$ 2.5 Billon by the end of 2034.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
