The Nuclear Medicine Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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The Nuclear Medicine Diagnostics Global Market Report 2024 by The Business Research Company highlights the substantial growth trajectory witnessed in the nuclear medicine diagnostics market in recent years. This sector’s expansion, from $6.57 billion in 2023 to $7.34 billion in 2024, reflects a notable compound annual growth rate (CAGR) of 11.7%. Such robust advancement in the historic period is underpinned by various factors, including remarkable strides in medical imaging technologies, a burgeoning prevalence of chronic ailments, demographic shifts towards an aging population, and the expanding clinical utility in oncology, bolstering diagnostic accuracy and precision.
Forecasts anticipate an accelerated ascent in the nuclear medicine diagnostics market in the forthcoming years, with projections reaching $11.31 billion by 2028, marking a commendable CAGR of 11.4%. This optimistic outlook is predicated upon the burgeoning applications in neurology, synergistic integration with complementary imaging modalities, the paradigm shift towards precision medicine methodologies, escalating demand for theranostics, and concerted global endeavors towards disease eradication initiatives. Significant trends on the horizon encompass the pivot towards decentralized radiopharmacy models, the burgeoning role of nuclear medicine in neurological applications, the advent of radiomics and quantitative imaging analytics, collaborative endeavors driving research and development, and an accentuated focus on radiation safety and dosimetry standards.
The increasing demand for nuclear medicine diagnostics is expected to propel the growth of the nuclear medicine diagnostics market going forward. Nuclear medicine uses radioactive substances inside the body to diagnose illnesses or to target and remove diseased or damaged organs and tissue (for treatment). The diagnostic uses of nuclear medicine are primarily in radiation and other life-taking treatments. The demand for nuclear medicine diagnostics is increasing due to benefits such as accurate results and better treatment decision making. For instance, in April 2022, according to a report published on nuclear medicine diagnostics by the World Nuclear Association, a UK-based international organization that promotes nuclear power, the annual number of nuclear medicine treatments exceeds 40 million, and the need for radioisotopes is rising at a rate of up to 5% every year. Also, 90% of the procedures involving radioisotopes in medicine take place in more than 10,000 hospitals worldwide. Hence, increasing demand for nuclear medicine diagnostics is expected to propel the growth of the nuclear medicine diagnostics market.
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The nuclear medicine diagnostics market covered in this report is segmented –
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
Top 5 Major Players:
Amidst this landscape, prominent entities in the nuclear medicine diagnostics arena are strategically aligning through partnerships to fortify their competitive positioning. Strategic partnerships, characterized by collaborative endeavors between two or more entities, aim at fostering symbiotic relationships to leverage shared resources and expertise towards mutually beneficial outcomes. A compelling example is the strategic collaboration unveiled in June 2023 between RLS Inc., a leading US-based nuclear medicine provider, and SOFIE, a prominent molecular imaging enterprise also based in the United States. This strategic alliance endeavors to streamline the distribution of nuclear medicine doses to a diverse array of stakeholders, including patients, healthcare facilities, educational institutions, and healthcare professionals, thereby enhancing the continuum of patient care. Central to this partnership is the proficient management of patient dose preparation, leveraging the extensive radiopharmacy network and expertise possessed by the collaborative entities.
The nuclear medicine diagnostics market report table of contents includes:
1. Executive Summary
2. Nuclear Medicine Diagnostics Market Characteristics
3. Nuclear Medicine Diagnostics Market Trends And Strategies
4. Nuclear Medicine Diagnostics Market – Macro Economic Scenario
5. Global Nuclear Medicine Diagnostics Market Size and Growth
……
32. Global Nuclear Medicine Diagnostics Market Competitive Benchmarking
33. Global Nuclear Medicine Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nuclear Medicine Diagnostics Market
35. Nuclear Medicine Diagnostics Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Nuclear Medicine Diagnostics Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Nuclear Medicine Diagnostics Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Nuclear Medicine Diagnostics Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Siemens AG Financial Performance
Table 75: Bayer Aktiengesellschaft Financial Performance
Table 76: Novartis AG Financial Performance
Table 77: GE Healthcare Technologies Inc. Financial Performance
Table 78: Perkin Elmer Inc. Financial Performance
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