(PharmaNewsWire.Com, August 18, 2021 ) The Key Growth Elements in Detailed?
The Growth in North American Nuclear Radiopharmaceuticals Market can primarily be attributed to factors such as the increasing incidence and prevalence of cancer & cardiac ailments and initiatives to lessen the demand-supply gap of Mo-99. However, the short half-life of radiopharmaceuticals reduces their potential adoption, while hospital budget cuts and high equipment prices are expected to limit market growth to a certain extent.
Worldwide Growth Opportunities in Terms of Revenue:
The North American Nuclear Medicine Market is expected to reach USD 2.7 billion by 2024 from an estimated USD 2.2 billion in 2019, growing at a CAGR of 4.1% during the forecast period.
The SPECT radiopharmaceutical segment is expected to account for the largest share of the diagnostic nuclear medicine market in 2019
Based on type, the North American Nuclear Radiopharmaceuticals Market is categorized into diagnostic and therapeutic nuclear medicine. The diagnostic nuclear medicine segment is further categorized into SPECT and PET radiopharmaceuticals. The SPECT radiopharmaceuticals segment is expected to account for the largest share of the market in 2019. However, the PET radiopharmaceutical segment is projected to register the highest CAGR during the forecast period. Although PET is more expensive than SPECT, advances in PET imaging and the introduction of new PET radiotracers are supporting its growth in the market.
The PET oncology application segment is expected to account for the largest share of the market in 2019
Based on application, the North American nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The PET applications segment is further segmented into oncology, cardiology, and neurology, among others. The oncology PET application segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the use of F-18 in PET oncology. F-18 is a major isotope used in oncological applications such as breast cancer and bone metastasis.
The North American Nuclear Radiopharmaceuticals Market is segmented into the US and Canada, based on country. The US is expected to account for the largest share and also register the highest CAGR during the forecast period. The growth of this market can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the country
Major Key Players Mentioned in the research report are:
The prominent players in the global North American Nuclear Medicine/Radiopharmaceuticals Market include Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacıbaşı-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).
Cardinal Health (US) is one of the major players in the North American nuclear medicine market. Cardinal Health is a healthcare services company providing pharmaceutical and medical products & services to healthcare providers. Cardinal Health operates in the US, Canada, the British Virgin Islands, Malaysia, Singapore, the UK, Luxembourg, Thailand, Switzerland, Ireland, and Belgium through its 150 subsidiaries. Its global presence enables the company to operate the world’s largest network of nuclear pharmacies and expand its PET agent manufacturing capabilities to support new drug development and the growth of personalized medicine. The company has expanded its production capabilities in the US by opening three new cyclotrons in Sacramento, Portland, and Chicago.
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