Global Nuclear Medicine Market to grow at a CAGR of 7.80% from 2018 to 2023
The report published by Knowledge Sourcing Intelligence titled “Global Nuclear Medicine Market - Forecast From 2018 to 2023” studies the various factors affecting the market for nuclear medicines worldwide. The report has been segmented by application (diagnostic, therapeutic), procedure (PET scan, SPECT scan, radioimmunotherapy, thyroid ablation, brachytherapy, others) and end users (hospitals, diagnostic centers, research institutes).
In addition, the market for nuclear medicine has been estimated based on the geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions. The demand for nuclear medicines is driven by higher adoption of SPECT and PET scans with improved technologies for diagnostic and therapeutic purposes. In addition, rising health concerns and growing awareness of medical professionals regarding the advantages of nuclear medicine will further boost its demand during the forecast period. However, factors such as short half-life of radiopharmaceuticals coupled with the stringent regulatory guidelines by various government bodies might hinder the growth of the market during the given time frame.
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By Procedure, PET scan is projected to hold significant market share in the global nuclear medicine market in 2018.
It is estimated that the PET scan will hold a significant share in 2018 owing to the superior quantitation accuracy and better imaging provided by PET scans improving the depth of information and bringing context to diagnosis. Introduction of dual-modality PET scan technologies such as PET/CT and PET/MRI, for the accurate diagnosis and prognosis of the diseases, will further boost the demand of the PET Scan across the globe during the given forecast period.
The North America region is estimated to dominate the market throughout the forecast period.
The demand for nuclear medicine was comparatively high in the North America region owing to the well-developed health infrastructure in the region coupled with the rising prevalence of cancer and cardiovascular diseases in the region whereas Asia–Pacific is expected to grow at a robust CAGR during the given time frame. The growth is fuelled by the rising number of research activities and improving healthcare standards in the region.
This report also includes a study of strategies and product portfolios of some of the leading companies in the global nuclear medicine market. It consists of company profiles of the leading companies such as GE Healthcare, Cardinal Health, and Koninklijke Philips N.V, among others.
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