Nuclear Medicine/Radiopharmaceuticals Market by Type (Therapeutic and Diagnostic), Procedures (Cardiovascular, Oncology, Central Nervous System, Skeletal, Endocrine, Gastrointestinal, Pulmonary, and Others), Application (Cardiology, Oncology, Thyroid, Neurology, and Others), and End User (Research Institutes, Hospitals, Diagnostic Centers, and Others)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 - 2029

                                          
Abstract


The report covers forecast and analysis for the nuclear medicine/radiopharmaceuticals market on a global and regional level. The study provides historic data from 2015 along with a forecast from 2020 to 2029 based on revenue (USD Million). The study includes drivers and restraints for the nuclear medicine/ radiopharmaceuticals market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the nuclear medicine/ radiopharmaceuticals market on a global as well as regional level.

In order to give the users of this report a comprehensive view on the nuclear medicine/radiopharmaceuticals market we have included competitive landscape and analysis of Porters Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product and services segment is benchmarked based on their market size, growth rate and general attractiveness.

The report provides company market share analysis in order to give a broader overview of the key players in the nuclear medicine/ radiopharmaceuticals market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the nuclear medicine/radiopharmaceuticals market on global and regional basis.

Nuclear medicine is a medical stream that uses radioactive substances for diagnosis and treatment of diseases. Radiopharmaceuticals used in nuclear medicine are radioactive compounds provided to the patient, and observed via particular imaging devices, for therapeutic and diagnosis purposes. SPECT (Single Photon Emission Computed Tomography) and PET (Positron Emission Tomography) scans are the two most widely used imaging modalities in nuclear medicine.

Factors such as rise in cases of cancer and other target conditions, targeted cancer treatment with the help of alpha radio immunotherapy, initiatives to bridge the demand-supply gap of Mo-99, convenience of treatment, implementation of clear imaging procedure, and technological advancements will act as major driving factors in the growth of global nuclear medicine/ radiopharmaceuticals market. Application of radiopharmaceuticals in neurology and favorable government policies in developing regions will act as an opportunity for the market players in the nuclear medicine/ radiopharmaceuticals market. Nonetheless, short half-life of radiopharmaceuticals, shortage in supply, difficulties in logistics, dearth of skilled personnel, and lack of awareness in low income countries will restrict the growth of global nuclear medicine/ radiopharmaceuticals market.

The global nuclear medicine/radiopharmaceuticals market has been split into type, procedures, application, end user, and region. Based on type, nuclear medicine/ radiopharmaceuticals market has been segmented into therapeutic and diagnostic. The diagnostic segment accounted for the highest market share in 2018 due to growing patient population, rising awareness regarding use of nuclear medicine, and availability of new radioisotopes. The therapeutic segment has been divided into alpha emitters, beta emitters, and brachytherapy isotopes.

The diagnostic segment has been divided into PET radiopharmaceuticals and SPECT radiopharmaceuticals. The procedures segment has been segmented into cardiovascular, oncology, central nervous system, skeletal, endocrine, gastrointestinal, pulmonary, and others. The application segment has been segmented into cardiology, oncology, thyroid, neurology, and others. The oncology segment accounted for the highest market share in 2019 due to increase in number of cancer cases and use of F-18 isotope. The end user segment has been segmented into research institutes, hospitals, diagnostic centers, and others.

North America will be the leading region during the forecast period. Development of unique technologies for the production of isotopes, presence of leading market players, and rapid uptake of new technologies will boost the market growth in this region. Europe will be the second largest market. The major reasons are presence of skilled professionals, rise in awareness regarding use of nuclear medicine, high cancer prevalence, and favorable reimbursement scenario. Asia Pacific will propagate at speedy rate over the forecast period due to rapid technological updation in the healthcare sector and increasing cases of cancer and other chronic ailments. Latin America market will develop at a significant rate during the forecast period. The Africa and Middle Eastern countries are likely to experience perceptible growth in the estimated time-frame.

The report also includes detailed profiles of key players such as GE Healthcare, Curium, Cardinal Health, Bayer, Advanced Accelerator Applications, Lantheus Medical Imaging, and Jubilant Life Sciences among others.

In September 2020, RadioMedix Inc. and its commercial partner Curium announced today that DetectnetTM (copper Cu 64 dotatate injection) was approved by the U.S. Food and Drug Administration (FDA). Detectnet is a positron emission tomography (PET) agent indicated for the localization of somatostatin receptor positive neuroendocrine tumors (NETs) in adult patients. Curium expects to launch Detectnet immediately with doses available through various nuclear pharmacies or directly from Curium.

The 12.7-hour half-life allows Detectnet to be produced centrally and shipped to sites throughout the U.S. This will help alleviate shortages or delays that have been experienced with other somatostatin analogue PET agents.

In August 2019, [68Ga]Ga-DOTA-TOC was approved by the Food and Drug Administration (FDA) for positron emission tomography (PET) imaging of somatostatin receptor (SSTR)-positive gastroenteropancreatic neuroendocrine tumors. Holder of the marketing authorization is the UIHC“PET Imaging Center (University of Iowa Health Care (UIHC)), in Iowa, USA. The ready-to-use 68Ga-labeled peptide was already approved in some European countries (Austria, Germany, and France) in 2016 (IASOtoc®, IASON GmbH, Graz, Austria) and in 2018 (TOCscan®, ITM AG, Munchen, Germany). Also in Europe, a kit preparation for 68Ga-labeling of DOTA-TOC (SomaKit TOC®, AAA, a Novartis company, Saint-Genis-Pouilly, France) was approved by the European Medicines Agency (EMA) on 8 December 2016. Use of this kit along with an authorized 68Ge/68Ga-generator enables on-site preparation of [68Ga]Ga-DOTA-TOC even in small facilities.

Similar to Europe, in the U.S. a kit preparation for 68Ga-labeling of DOTA-TATE (NETSPOTTM, AAA, a Novartis Company, Saint-Genis-Pouilly, France) was approved by the FDA on 1 June 2016. These kits allow decentralized tracer production and therefore enable the application of the radiotracer to patients who do not live in the vicinity of a centralized production site.

This report segments the Global Nuclear Medicine/Radiopharmaceuticals Market as follows:

Global Nuclear Medicine/Radiopharmaceuticals Market: By Type

Therapeutic

  
Alpha Emitters
  
Beta Emitters
  
Brachytherapy Isotopes

Diagnostic

  
PET Radiopharmaceuticals
  
SPECT Radiopharmaceuticals

Global Nuclear Medicine/Radiopharmaceuticals Market: By Procedures

  
Cardiovascular
  
Oncology
  
Central Nervous System
  
Skeletal
  
Endocrine
  
Gastrointestinal
  
Pulmonary
  
Others

Global Nuclear Medicine/Radiopharmaceuticals Market: By Application

  
Cardiology
  
Oncology
  
Thyroid
  
Neurology
  
Others

Global Nuclear Medicine/Radiopharmaceuticals Market: By End User

  
Research Institutes
  
Hospitals
  
Diagnostic Centers
  
Others

Global Nuclear Medicine/Radiopharmaceuticals Market: By Region

North America

  
U.S.

Europe

  
UK
  
France
  
Germany

Asia Pacific

  
China
  
Japan
  
India

Latin America

  
Brazil

Middle East and Africa