Global Nuclear Medicine Diagnostics Market Size
Medical Equipment

Global Nuclear Medicine Diagnostics Market Opportunities And Strategies 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s nuclear medicine diagnostics market report forecasts the nuclear medicine diagnostics market size to grow to $9.82 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

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Nuclear Medicine Diagnostics Market Size Forecast
The global nuclear medicine diagnostics market is expected to grow from $5.92 billion in 2022 to $6.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global nuclear medicine diagnostics market size is expected to grow to $9.82 billion in 2027 at a CAGR of 10.5%.

North America held the largest nuclear medicine diagnostics market share.

Key Nuclear Medicine Diagnostics Market Driver ­– Increase In Demand For Nuclear Medicine Diagnostics
According to a report on nuclear medicine diagnostics published by the World Nuclear Association, a UK-based international organisation that promotes nuclear power, the annual number of nuclear medicine treatments will exceed 40 million in April 2022, and the demand for radioisotopes will rise at a rate of up to 5% per year. Furthermore, 90% of radioisotope treatments in medicine are performed in over 10,000 hospitals around the world. As a result, rising demand for nuclear medicine diagnostics is likely to boost the nuclear medicine diagnostics market forward.

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Key Nuclear Medicine Diagnostics Market Trend – Innovative Product Development
Major players in the nuclear medicine diagnostics market are working to develop new products in order to increase their market position. For example, the Food and Drug Administration (FDA), a US-based organisation responsible for protecting public health by ensuring the safety, efficacy, and security of human and veterinary drugs, and biological products, approved 68Gallium PSMA-11 (Ga 68 PSMA-11) in December 2020 – the first drug for PET (positron emission tomography) imaging men with prostate cancer, the third most common type of cancer in the United States, who frequently have PSMA-positive lesion. This accreditation is expected to increase demand in 68Gallium, a PET imaging isotope in short supply.

Nuclear Medicine Diagnostics Market Segment
1) By Type: SPECT Radiopharmaceuticals, PET Radiopharmaceuticals
2) By Application: Cardiology, Thyroid, Neurology, Oncology, Other Applications
3) By End-User: Hospitals And Diagnostic Centers, Research Institutes

Nuclear Medicine Diagnostics Market Major Players and Strategies
Major players in the nuclear medicine diagnostics market are Cardinal Health Inc., GE HealthCare Technologies Inc., Lantheus, Bayer AG, Bracco Diagnostic Inc., NorthStar Medical Radioisotopes LLC, Eckert & Ziegler, Jubilant DraxImage Inc., PharmaLogic Holdings Corp., Institute of Isotopes Co. Ltd., SHINE Medical Technologies LLC, Global Medical Solutions LLC, Bracco Imaging SPA, Advanced Accelerator Applications, IBA Molecular Imaging, Mallinckrodt PLC., and Curium Pharma.

Eckert & Ziegler, a German provider of isotope technologies for medical, scientific, and industrial applications, bought Tecnonuclear SA for an undisclosed sum in January 2022. Eckert & Ziegler will be able to extend important healthcare services in Brazil and throughout South America as a result of this transaction. Tecnonuclear SA is a nuclear medicine specialty firm established in Argentina.

The Nuclear Medicine Diagnostics Global Market Report 2023 covers regional data on nuclear medicine diagnostics market size, nuclear medicine diagnostics market trends and drivers, opportunities, strategies, and nuclear medicine diagnostics market competitor analysis. The countries covered in the nuclear medicine diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Nuclear medicine involves the use of radioactive chemicals within the body to diagnose illnesses or to target and remove diseased or damaged organs and tissue (for treatment). Nuclear medicine is the use of radioactive medicines for research, treatment, and diagnosis. In diagnostic nuclear medicine, radioactive tracers are used to visualise and/or measure the overall or local function of an organ.

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