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Nuclear Medicine Market to Incur Steady Growth $8,207.5 million by 2022 | CAGR 7.8%


Nuclear Medicine/Radiopharmaceuticals Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8,207.5 million by 2022.

The global Nuclear Medicine/Radiopharmaceuticals market is poised to grow at a significant pace, owing to growing demand for non-invasive techniques, availability of effective cancer treatment, and ability to observe the functioning of the organ from outside the body. Furthermore, increasing incidence of cancer & cardiovascular aliments, growing demand for alpha radio immunotherapy-based targeted cancer treatment, mounting call for nuclear imaging techniques, and advancements in radiotracers are expected to open new avenues in the Nuclear Medicine/Radiopharmaceuticals market. Factors that are expected to drive the use of Nuclear Medicine/Radiopharmaceuticals include changing lifestyle, elevated levels of stress, and ability to identify various diseases sooner than other diagnostic tests. However, factors such as supply volatility & logistical challenges, stringent regulatory vigil, and competition from conventional diagnostic procedures are anticipated to impede the market growth.

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The oncology segment contributed more than half of the market share in the overall Nuclear Medicine/Radiopharmaceuticals market in 2015 and is expected to continue the same trend owing to perpetual rise in the number of cancer cases. The SPECT modality segment dominated the Nuclear Medicine/Radiopharmaceuticals market in 2015, whereas the PET modality segment is anticipated to grow at a comparatively higher CAGR of 8.3% from 2016 to 2022. PET segment is driven by better quality of image and higher precision in diagnosis. Other reasons attributed to its sustained dominance are growing R&D activities especially in developing economies and widening scope of radiopharmaceutical applications such as thyroid, oncology, and bone pain palliation.

The Asia-Pacific Nuclear Medicine/Radiopharmaceuticals market is expected to offer lucrative growth opportunities during the forecast period owing to aging population and increasing cancer incidences. The leading Asia-Pacific countries, such as China, Japan, and Australia would exhibit a steady growth rate.

The Major key companies profiled in the report Are:

Mallinckrodt plc.

General Electric

Medtronic Inc.

Bayer AG

Cardinal Health Inc.

Lantheus Medical Imaging, Inc.

IBA Group

Bracco Imaging S.p.A.

NTP Radioisotopes SOC Ltd.

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Key findings of Nuclear Medicine/Radiopharmaceuticals Market:

Therapeutics segment is projected to be the fastest growing segment in the Nuclear Medicine/Radiopharmaceuticals market, registering a CAGR of 16.9% from 2016 to 2022.

SPECT modality segment is expected to dominate the Nuclear Medicine/Radiopharmaceuticals market in 2015 and expected to retain its position throughout the study period.

Thyroid application segment is expected to exhibit double-digit CAGR of 11%.

Oncology application segment is expected to continue to lead the Nuclear Medicine/Radiopharmaceuticals market, accounting for close to 60% share by 2022.

Asia-Pacific is projected to be the fastest growing Nuclear Medicine/Radiopharmaceuticals market, registering a CAGR of 8.4%.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.


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Last Updated: 11-Feb-2020