Nuclear Medicine Market - 8.34% CAGR to 2020 Driven by Radiopharmaceuticals Demand

21 Jul, 2016, 04:00 ET from Sandler Research

PUNE, India, July 21, 2016 /PRNewswire/ --

According to the 2016 nuclear medicine market report, the demand for radiopharmaceuticals is driving the market growth with most radioactive compounds used for diagnostic procedures while a few are used for therapeutic purposes. Regulatory bodies such as the FDA are approving radiopharmaceuticals for expanded use. The analysts forecast the global nuclear medicine market to grow at a CAGR of 8.34% during the period 2016-2020.

Complete report on nuclear medicine market spread across 73 pages, analyzing 5 major companies and providing 41 data exhibits now available at http://www.sandlerresearch.org/global-nuclear-medicine-market-2016-2020.html.

The global nuclear medicine market analyst says partnerships for development of nuclear medicine are a key trend. Many nuclear medicine and nuclear imaging companies are forming partnerships to solve longstanding radiopharmaceutical concerns in medical imaging and increase the market share of vendors. These partnerships will increase the production of low cost radiopharmaceuticals, which will boost the growth of the market.

The increase in the number of cancer and cardiovascular disease (CVD) cases worldwide is the primary driving force behind the growth of nuclear medicine market. Vendors are focusing on developing cost-effective equipment and radiopharmaceuticals and are developing hybrid nuclear imaging techniques with the integration of advanced software that can enable improved diagnostics. During 2015, the Americas dominated the global nuclear medicine market by accounting for around 60% of the overall market share. The high prevalence of cancer, neurological disorders, and orthopedic diseases, especially in the US, is expected to propel growth in the nuclear medicine market in the Americas during the forecast period.

In 2015, the oncology segment accounted for more than 61% of the overall market share to become the key revenue generator in the global nuclear medicine market. The four most common types of cancers are lung cancer, breast cancer, bowel cancer, and prostate cancer. Fludeoxyglucose F-18 (FDG) is commonly used for the accurate diagnosis and optimal management of cancer. It is a tracer molecule that is an analog of glucose taken up by glucose-using cells. It undergoes radioactive decay and emits gamma rays, which are subsequently detected by scanners.

The following companies are the key players in the global nuclear medicine market: Cardinal Health, Digirad, GE Healthcare, Lantheus Medical Imaging, and Philips Healthcare. Other prominent vendors in the market are: ABT Molecular Imaging, Advanced Accelerator Applications, AGFA Healthcare, Algeta, Astellas Pharma, Bayer, Bracco Imaging, Brain Biosciences, Capintec, CMR Naviscan, Cubresa, Eczacibasi-Monrol Nuclear Products, FUJIFILM Holdings, IBA Molecular Imaging, ISOLOGIC Innovative Radiopharmaceuticals, Jubilant DraxImage, Mallinckrodt, Mediso Medical Imaging System, Mirada Medical, Navidea Biopharmaceuticals, Nordion, Piramal Imaging, Positron Pharmaceutical Company, RadioMedix, SHINE Medical Technologies, Sophie Biosciences, Toshiba Medical Systems, Triad Isotopes, and Voxel. Order a copy of Global Nuclear Medicine Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=57634.

Global Nuclear Medicine Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global nuclear medicine market for 2016-2020. To calculate the market size, the report considers the use revenue generated from the sales of various types of imaging equipment and radiopharmaceuticals that are used for diagnosis and therapeutic purposes.

Another related report is Global Nuclear Decommissioning Market 2016-2020, a continuing trend which will have a positive impact on market growth is international cooperation to ensure nuclear safety. The dependence on nuclear power plant is reduced over a period owing to the disasters such as Fukushima and Chernobyl. Organizations such as the IAEA, the OECD's NEA, and the commission of the European communities share the experience, technology, and the knowledge about decommissioning among various countries. Browse complete report @ http://www.sandlerresearch.org/global-nuclear-decommissioning-market-2016-2020.html.

Explore other new reports on Medical Device Market @ http://www.sandlerresearch.org/market-research/medical-device.

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