North American Nuclear Medicine Market Expected to Reach USD 2.98 Billion in 2020

Mar 16, 2016, 13:10 ET from Research and Markets

DUBLIN, March 16, 2016 /PRNewswire/ --

Research and Markets ( has announced the addition of the "North American Nuclear Medicine/Radiopharmaceuticals Market - Forecasts to 2020" report to their offering.

The North American nuclear medicine market is expected to reach USD 2.98 Billion in 2020 from USD 1.97 Billion in 2015, growing at a CAGR of 8.6%. Radiopharmaceuticals are drugs that contain radionuclide-emitting ionizing radiation, used in the nuclear imaging field to diagnose and treat various diseases. The North American nuclear medicine market is segmented on the basis of types, applications, and countries.

Factors such as increasing preference for SPECT and PET scans, alpha radioimmunotherapy-based targeted cancer treatment, advances in radiotracers, growing incidence of cancer and CVDs, and rising awareness about the effective use of radiopharmaceuticals in various applications are driving the growth of this market.

However, factors such as requirement of high capital investments to limit the procurement of scanners, shorter half-life of radiopharmaceuticals, stringent regulatory guidelines and GMPs, and competition from conventional diagnostic procedures are hindering the growth of this market.

Moreover, upcoming radioisotopes, alternative diagnostic radiopharmaceutical solutions, cyclotron-based production, and use of radiopharmaceuticals in neurological applications provide a good opportunity for North American radiopharmaceuticals market. A major challenge to the growth of North American radiopharmaceuticals market is the shutdown of nuclear reactors which is likely to create a gap in the demand and supply of radioisotopes.

In 2015, U.S. is poised to account for the largest share of the North American nuclear medicine market, followed by Canada. The U.S. market is slated to grow at the highest CAGR during the forecast period. The major factors driving market growth in U.S. include the focus on domestic production of Mo-99, the approval of new radiopharmaceuticals by the FDA in the U.S., FDA approval for alpha emitter, growing focus on therapeutic nuclear medicine as an alternative treatment in oncology, and growing incidence of thyroid cancer.

Companies Mentioned:

  • Advanced Accelerator Applications S.A.
  • Bayer Healthcare
  • Bracco Imaging S.P.A
  • Cardinal Health, Inc.
  • Eczacibasi-Monrol Nuclear Products
  • GE Healthcare
  • IBA Molecular Imaging
  • Lantheus Medical Imaging, Inc.
  • Mallinckrodt PLC
  • Nordion, Inc.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 North American Nuclear Medicine Market: Pipeline Assessment

7 North American Nuclear Medicine Market, By Type

8 North American Nuclear Medicine Market, By Application

9 North American Nuclear Medicine Market for Procedural Volume

10 North American Nuclear Medicine Market, By Country

11 Competitive Landscape

12 Company Profiles

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SOURCE Research and Markets