Nuclear Medicine/Radiopharmaceuticals Market Soaring at 9.3% CAGR to 2021
PUNE, India, October 27, 2016 /PRNewswire/ --
According to the latest study, the nuclear medicine/radiopharmaceuticals market to 2021 is dominated by North America while the cardiology application segment accounted for the largest share with 9.3% expected CAGR to Hit USD 7.27 billion by 2021
Complete report on global nuclear medicine/radiopharmaceuticals market spread across 281 pages, profiling 10 companies and supported with 271 tables and 49 figures is now available at http://www.rnrmarketresearch.com/nuclear-medicineradiopharmaceuticals-spectpet-radioisotopes-technetium-f-18-betaalpha-radiation-therapy-i131-y-90-applications-canceroncology-cardiac-stable-isotopes-deuterium-market-report.html .
The nuclear medicine/radiopharmaceuticals market is projected to reach USD 7.27 billion by 2021 from USD 4.67 billion in 2016, growing at a CAGR of 9.3% in the next five years (2016 to 2021). Over the years, the nuclear medicine/radiopharmaceuticals market has witnessed various advancements in radiopharmaceuticals. The market is in its growth phase with an increasing number of radioisotope approvals for different clinical indications. Ra-223, I-131, and Y-90 ensured their leading position in the nuclear medicine therapeutic market.
Factors such as advances in radiotracers and increasing incidence and prevalence of cancer and cardiac ailments, introduction of alpha emitters for targeted cancer therapy, high demand for radiopharmaceuticals in emerging markets, upcoming radioisotopes, and increasing new product launches by industry players are expected to drive the nuclear medicine/radiopharmaceuticals market in the coming years. However, the shutdown of major nuclear reactors, which are the main source for radiopharmaceutical production, is a major challenge for the growth of the market.
In 2016, North America is expected to account for the largest share of the global nuclear medicine/radiopharmaceuticals market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is projected to have the highest growth rate in the forecast period. Factors such as the increasing geriatric population and incidence of cardiovascular diseases & cancer in China & Japan, installation of PET scanners in India, and approval of radium (223Ra) dichloride by the therapeutic goods administration (TGA) in Australia are likely to propel the market in the Asia-Pacific region.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions; new product launches; marketing and promotion; agreements, collaborations, partnerships, and funding; patent approval to increase their market shares and establish a strong foothold in the global market.
Some of the major players in the nuclear medicine/radiopharmaceuticals market include Cardinal Health Inc. (U.S.), Mallinckrodt plc (Ireland), GE Healthcare (U.K.), Lantheus Medical Imaging, Inc. (U.S.), Bayer AG (Germany), Bracco Imaging S.p.A (Italy), Eczacibasi-Monrol Nuclear Products (Turkey), Nordion, Inc. (Canada), Advanced Accelerator Applications S.A. (France), and IBA Molecular Imaging (Belgium). Order a copy of Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT - Technetium, PET - F-18), Therapeutic (Beta Emitters - I-131, Alpha Emitters, Brachytherapy - Y-90) & by Application (Oncology, Thyroid, Cardiology) - Global Forecasts to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=88290 .
The report includes in-depth competitive analysis of these key players in the nuclear medicine/radiopharmaceuticals market, with their company profiles, SWOT analysis, recent developments, and key market strategies. In Tier 1 (32%), Tier 2 (39%) and Tier 3 (29%) companies were contacted for primary interviews. The interviews were conducted with various key people such as Director Level (38%), C-Level (28%) and others (34%) from various key organizations operating in the global nuclear medicine/radiopharmaceuticals market. The primary interviews were conducted worldwide covering regions such as North America (30%), Europe (27%), Asia-Pacific (33%) and RoW (10%).
On a related note, another research on North American Nuclear Medicine/Radiopharmaceuticals Market Forecasts to 2020 says, in 2015, the diagnostic segment accounted for the largest share of the North American nuclear medicine/radiopharmaceuticals market, by type. The market in North America is poised to reach USD 2.98 billion by 2020 from USD 1.97 billion in 2015, growing at a CAGR of 8.6% during the forecast period of 2015 to 2020. Companies like Cardinal Health Inc., Mallinckrodt plc, GE Healthcare, Lantheus Medical Imaging, Inc., Bayer Healthcare, Bracco Imaging S.p.A, Eczacibasi-Monrol Nuclear Products, Nordion, Inc., Advanced Accelerator Applications S.A. and IBA Molecular Imaging have been profiled in this 180 pages research report available at http://www.rnrmarketresearch.com/north-american-nuclear-medicineradiopharmaceuticals-stable-isotopes-market-spectpet-radioisotopes-technetium-f-18-betaalpha-radiation-therapy-i131-y-90-applications-canceroncology-market-report.html .
Explore more reports on life sciences market at http://www.rnrmarketresearch.com/reports/life-sciences .
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