Therapeutic Nuclear Drug Market Outlook 2024-2033: Trends and Projections
Therapeutic Nuclear Drug Market Expansion 2024-2033: Growth Drivers and Dynamics
Global Therapeutic Nuclear Drug Market Analysis 2024: Size Forecast and Growth Prospects
Therapeutic Nuclear Drug Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies
Global Therapeutic Nuclear Drug Market Overview 2024: Size, Growth Rate, and Segments
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The therapeutic nuclear drug global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Therapeutic Nuclear Drug Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The therapeutic nuclear drug market size has grown rapidly in recent years. It will grow from $1.69 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increasing regulatory approvals, increasing use of patient-specific information, improving dosimetry techniques, increasing awareness of nuclear medicines and increasing investment in research and development activities.
The therapeutic nuclear drug market size is expected to see rapid growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to the shift towards personalized medicine, the rising demand for healthcare infrastructure improvements, the growing geriatric population, the growing number of diagnostic imaging procedures, and the rise of personalized care delivery. Major trends in the forecast period include nanoparticle-based delivery systems, advancements in radionuclide therapy, hybrid imaging systems, radiopharmaceutical manufacturing and development of alpha-emitting radiopharmaceuticals, and integration of machine learning and artificial intelligence.
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Scope Of Therapeutic Nuclear Drug Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Therapeutic Nuclear Drug Market Overview
Market Drivers –
The increasing prevalence of cancer is expected to propel the growth of the therapeutic nuclear drug market going forward. Cancer is a disease characterized by the uncontrolled growth and spread of abnormal cells. The prevalence of cancer is due to improved detection and diagnosis, lifestyle factors, environmental exposures, and genetic factors. Therapeutic nuclear drugs act as a valuable component in the arsenal against cancer, providing targeted and effective treatment options for patients by reducing tumor size, alleviating symptoms, and improving quality of life. For instance, in February 2024, according to the World Health Organization, a Switzerland-based agency of the United Nations, It is projected that over 35 million new cancer cases will arise by 2050, marking a 77% increase compared to the estimated 20 million cases in 2022. Therefore, the increasing prevalence of cancer is driving the growth of the therapeutic nuclear drug market.
Market Trends –
Major companies operating in the therapeutic nuclear drug market are focused on forming strategic partnerships to gain a competitive edge in the market. These partnerships play an important role in enhancing research and development capabilities, accelerating the commercialization of new therapies, and expanding access to innovative treatments through shared resources and expertise. For instance, In July 2022, DeepC is a Germany-based software company, partnered with PAIRE, an US-based AI solutions provider, to enhance nuclear medicine diagnostics. With this partnership, they aim to enhance the precision and efficiency of nuclear medicine diagnostics by integrating PAIRE’s AI solution, Pionus, into DeepC’s deepcOS platform for improved PET/CT scan interpretations.
The therapeutic nuclear drug market covered in this report is segmented –
1) By Type: Radium-223, Lutetium-177, Iodine-131, Other Types
2) By Distribution Channel: Hospitals, Ambulatory Surgical Centers (ASCs), Cancer Research Institutes
3) By Application: Thyroid, Bone Metastasis, Lymphoma, Other Applications
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Regional Insights –
North America was the largest region in the therapeutic nuclear drug market in 2023. The regions covered in the therapeutic nuclear drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the therapeutic nuclear drug market are Bayer AG, Novartis International AG, Siemens Healthineers AG, Ipsen S.A., Jubilant DraxImage Inc., Mallinckrodt Pharmaceuticals PLC, The Bracco Group, Lantheus Medical Imaging Inc., Piramal Group, Curium Pharmaceuticals, Yantai Dongcheng Pharmaceutical Group Co. Ltd., Eckert & Ziegler, Telix Pharmaceuticals Limited, International Isotopes inc., Orano SA, Q BioMed Inc., Molecular Targeting Technologies Inc, Medi-Radiopharma Co. Ltd., Actinium Pharmaceuticals, Fusion Pharmaceuticals
Table of Contents
1. Executive Summary
2. Therapeutic Nuclear Drug Market Report Structure
3. Therapeutic Nuclear Drug Market Trends And Strategies
4. Therapeutic Nuclear Drug Market – Macro Economic Scenario
5. Therapeutic Nuclear Drug Market Size And Growth
…..
27. Therapeutic Nuclear Drug Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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