The global diagnostic nuclear medicines market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Nuclear medicine uses small amounts of radioactive material called radiotracers, which are used to evaluate, diagnose, and treat various diseases. As far as their applications are concerned, diagnostic nuclear medicines hold quite promising opportunities in the field of oncology, and cardiology, among others. This is anticipated to be the major driving factor for market growth. Other key factors that can be attributed to the market growth include the rising prevalence and incidence of various chronic conditions such as cancer and cardiac ailments.
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There have been recorded a substantial number of mortalities due to cancer and CVDs which made it even more critical to look out for early diagnostics and treatment solutions such as diagnostic nuclear medicines. As per the WHO, in 2020, cancer was the leading cause of mortalities globally, accounting for nearly 10 million mortalities. It is further estimated that 19.3 million new yearly cancer cases are projected to be reported globally by 2025. According to the WHO, globally, 17.9 million individuals died from CVDs in 2019, accounting for 32% of the overall mortalities. This figure is expected to reach 23.3 million by 2030. Thus, nuclear medicine’s role in disease diagnosis and treatment can present opportunities for market growth during the forecast period.
Some key players operating in the market include Cardinal Health, GE Healthcare, Curium, Lantheus Medical Imaging, Bayer AG. These players are eyeing to strengthen their position in the market by adopting various strategies as mergers and acquisitions, partnerships, collaborations, new product launch and development in the existing product portfolio, and so on. For instance, in 2021, Bracco entered into a partnership with CardioNavix which is aimed at improving patients’ approaches to cardiac PET imaging.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Cardinal Health, GE Healthcare, Curium, Lantheus Medical Imaging, Bayer AG.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Diagnostic Nuclear Medicines Market Report Segmentation
By Application
- Cardiology,
- Bone scans,
- Thyroid,
- Pulmonary scans,
- Others
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