Global Nuclear Medicine
Market: Overview
Although not every medical
isotopes are particularly radioactive in nature, nuclear medicines or
radiopharmaceuticals make for one of the common drugs that are used for the
diagnosis of dysfunctions in human body tissue. Nuclear medicines are used for
both diagnostic and therapeutic purposes and there are more than 30 specific
radiopharmaceuticals used by medical practitioners.
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Various forms of nuclear
medicines are useful in treating cancer, neurological disorders,
gastrointestinal, and other diseases. According to the findings of this
business intelligence study, as the healthcare infrastructure improves across
several emerging economies, the demand in the global radiopharmaceuticals
market is primed to expand at a healthy CAGR during the forecast period of 2016
to 2024.
This nuclear medicine market
report has been developed by healthcare experts with a solitary aspiration to
act as a dependable business document for selected audiences such as
manufacturers and distributors of radiopharmaceuticals, healthcare institutions
including hospitals and medical schools, research and development institutes,
contract manufacturing organizations, and venture capitalists.
The report includes comprehensive
and figurative assessment of the demand potential of various market segments,
analyzes various impacting factors including trends, drivers, and obstructions,
and takes stock of the demand that can be expected out of different countries
and regions. The report also contains a featured chapter on the competitive
landscape of the radiopharmaceutical market.
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Global Nuclear Medicine
Market: Drivers and Restraints
A number of factors are poised to
augment the demand for nuclear medicine, but none bigger than the growing
prevalence of cancer and cardiac disorders. According to the World Health
Organization (WHO), cancer causes almost one out of six deaths across the world
and the population suffering from various type of it is expanding consistently
as a result of lifestyle involving tobacco and alcohol, low intake of fruits
and vegetables, and lack of physical activity.
Advances in radiotracers, advent
of alpha radioimmunotherapy (Rit)-based targeted cancer treatments, and
investments via public and private partnerships to revolutionize diagnostic
measures are some of the other factors expected to drive the demand for
radiopharmaceuticals market in the near future.
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On the other hand, significantly
shorter half-life of radiopharmaceuticals, substantially high cost of these
specific medicines, and shutting down of several nuclear reactors are some of
the restraints obstructing the market from attaining greater profitability.
That being said, the analysts have also highlighted growing demand from
emerging economies, upcoming radioisotopes, and expanding usage across
neurological applications are some of the opportunities that will open new
revenue avenues in the near future.
Global Nuclear Medicine Market:
Regional Analysis
Apart from segmenting the
radiopharmaceuticals market on different aspects such as type, procedural
volume, and application, the report has also gauged the potential of demand
that can be expected out of every important region and country. Presently,
North America is the leading provider of demand, followed by Europe. However,
emerging economies such as China, India, Malaysia, and Indonesia are expected
to transform Asia Pacific into high potential region during the second half of the
aforementioned forecast period of the report.
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Global Nuclear Medicine
Market: Competitive Landscape
GE Healthcare, Cardinal Health
Inc., Bayer AG, Mallinckrodt PLC, Nordion, Inc., IBA Molecular Imaging, and
Advanced Accelerator Applications S.A. are some of the notable companies
holding prominent positions in this market.
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