Nuclear Medicine Market to Reach USD 18.87 Billion by 2030, Growing at a CAGR of 14.7% from 2024
Nuclear Medicine Market Expected to Reach USD 18.87 Billion by 2030, Growing at a CAGR of 14.7%
Summary:
The global Nuclear Medicine Market, valued at USD 7.22 billion in 2023, is projected to grow significantly, with a forecasted value of USD 18.87 billion by 2030. This growth, driven by advancements in diagnostic and therapeutic technologies, reflects a robust annual growth rate of 14.7% from 2024 to 2030.
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Market Size:
The Nuclear Medicine Market is experiencing strong growth, valued at USD 7.22 billion in 2023. It is anticipated to expand at a CAGR of 14.7%, reaching USD 18.87 billion by 2030. This growth is primarily driven by increasing investments in nuclear medicine technologies, the rise in cancer and cardiovascular diseases, and advancements in imaging techniques like PET and SPECT.
Scope and Research Methodology:
The report on the Nuclear Medicine Market evaluates current market dynamics, key trends, drivers, challenges, and growth opportunities. Using both primary and secondary research, the report provides a comprehensive analysis, including data from leading market players and insights from industry professionals. The data was verified through interviews, company reports, and market estimations.
Report Coverage:
This report covers market trends, forecasts, and key strategies, analyzing product types, applications, and regional growth. It includes detailed insights into market share, growth rates, and key competitors driving the industry forward. The research also includes a segmentation analysis by product type, modality, end-user, and regional analysis.
Overview:
Nuclear medicine is used primarily for the diagnosis and treatment of various diseases, with applications spanning oncology, cardiology, neurology, and more. The market is benefiting from innovations in radiopharmaceuticals, improved imaging technologies, and a greater focus on personalized medicine. The growing prevalence of cancer and cardiovascular diseases is further fueling demand for nuclear medicine procedures and diagnostic tools.
Dynamics:
The growth of the Nuclear Medicine Market can be attributed to technological advancements in diagnostic radiotherapeutics, particularly in the fields of PET and SPECT imaging, as well as the increasing use of radiotherapy in oncology. Additionally, an aging population and rising healthcare awareness are key factors driving market expansion. However, high costs and regulatory hurdles remain challenges for widespread adoption.
Segmentation:
- By Product Type: Diagnostic Radiotherapeutics, Therapeutic Radiotherapeutics
- By Application: Neurology, Oncology, Cardiology, Others
- By Modality: SPECT, PET, Alpha-emitters, Beta-emitters, Brachytherapy
- By Procedures: Oncology, Cardiovascular, Central Nervous System, Endocrine, Skeletal, Gastrointestinal, Genito-urinary, Pulmonary PET & PET-CT, Therapeutic, Others
- By End-User: Hospitals, Clinical Laboratories, Diagnostic Centers, Others
Key Players Include:
- Cardinal Health Inc (US)
- GE HealthCare Technologies Inc (US)
- Jubliant Lifesciences (US)
- Lantheus Medical Imaging Inc. (US)
- Bayer AG (Germany)
- Siemens Healthineers (Germany)
- Curium (France)
- Medtronic plc (Ireland)
- Neusoft Corporation (China)
- Canon Medical Systems Corporation (Japan)
Reason to Buy:
- Understand the current market scenario and forecast growth trends from 2024 to 2030.
- Gain insights into the market's dynamics, opportunities, and challenges across regions.
- Learn about key players in the market and their strategies to capture a larger share of the growing nuclear medicine sector.
Table of Contents:
- Introduction
- Market Dynamics
- Key Drivers and Challenges
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Strategic Recommendations
- Conclusion
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