The Nuclear Medicine 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 (2023-2033).
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According to The Business Research Company’s Nuclear Medicine Global Market Report 2024, The nuclear medicine market size has grown rapidly in recent years. It will grow from $7.75 billion in 2023 to $8.88 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to aging population, cancer diagnosis and staging, cardiology applications, neurological disorders, regulatory approvals.
The nuclear medicine market size is expected to see rapid growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to personalized medicine, oncology and neurology research, sustainable practices, research and development, telemedicine services. Major trends in the forecast period include radioimmunotherapy, hybrid imaging, artificial intelligence (ai), emerging radiopharmaceuticals, diagnostic imaging advancements.
The increase in constancy and prevalence of cardiovascular disease (CVD) and cancer are expected to propel the growth of the nuclear medicine market going forward. Cardiovascular diseases (CVDs) are a group of heart and blood vessel disorders, and cancer is a disease in which cells grow out of control and spread to other body parts. Nuclear cardiac imaging can help diagnose cardiac diseases more quickly. Nuclear medicine therapy is a method to treat cancer that might be used with or after other therapy options, such as surgery and chemotherapy. As a result, the growing constancy and prevalence of cardiovascular disease and cancer increases the demand for nuclear medicine market. For instance, in January 2023, according to the American Cancer Society Inc., a US-based non-profit health group, in 2023, 1,958,310 new cancer cases are expected to be diagnosed in the US, an increase compared to more than 1,918,030 new cancer cases in 2022. Therefore, the growing constancy and prevalence of cardiovascular diseases and cancer are driving the nuclear medicine market.
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The nuclear medicine market covered in this report is segmented –
1) Nuclear Medicine Market By Type: Diagnostic, Therapeutic
2) Nuclear Medicine Market By Application: Cardiology, Lymphomia, Thyroid, Neurology, Oncology, Other Application
3) Nuclear Medicine Market By End-User: Hospitals and Clinics, Diagnostic Centers, Other End Users
Product innovation is the key trend gaining popularity in the nuclear medicine market. Major companies operating in the nuclear medicine market are focused on developing new innovative products to strengthen their position. For instance, in March 2021, GE Healthcare, a US-based company that deals with nuclear medicine, launched Star Guide, a new nuclear medicine system to assist in advancing precision health and theranostics. StarGuide uses the most recent developments in Cadmium Zinc Telluride (CZT) technology to assist providers in exploring and better understanding the patient’s condition, enhancing patient outcomes throughout the continuum of care. It has unique features such as digital focus detectors and 360-degree imaging of the system that are intended to support improved theranostic capabilities in nuclear medicine and advanced precision health.
The nuclear medicine market report table of contents includes:
1. Executive Summary
2. Nuclear Medicine Market Characteristics
3. Nuclear Medicine Market Trends And Strategies
4. Nuclear Medicine Market – Macro Economic Scenario
5. Global Nuclear Medicine Market Size and Growth
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31. Global Nuclear Medicine Market Competitive Benchmarking
32. Global Nuclear Medicine Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Nuclear Medicine Market
34. Nuclear Medicine Market Future Outlook and Potential Analysis
35. Appendix
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