(PharmaNewsWire.Com, August 30, 2017 ) The Middle East and Africa nuclear medicine Radio pharmaceuticals market is estimated at $495 Million in 2015 and is expected to reach $1.34 billion by 2020, growing at a CAGR of 22.11%. Nuclear medicine falls under the field of Molecular imaging, which involves the use of a minute amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease.
Increasing incidence of cancer and cardiac ailments, immense technological advancements, increasing demand for SPECT and PET applications along with the growing public awareness for healthcare are fuelling the growth of Radiopharmaceuticals market. Further, Integration of X ray tomography (CT) into SPECT have recently emerged as an excellent diagnostic tool in medical imaging and is considered to be a driving factor for the growth of the market. Strict regulatory framework poses a major hurdle to the translational research and clinical investigations and reimbursement issues are blocking the growth of the Radiopharmaceuticals market. In addition, the short half-life of radiopharmaceuticals and competition from Orthodox diagnostic procedures are also restraining the Middle-East & Africa nuclear medicine Radioisotopes market.
Radiopharmaceuticals market is dominated by diagnostic radioisotopes and is expected to have a market share of 90 % of the radiopharmaceuticals market while therapeutic radioisotopes contribute 10% of the market. Based on type of radioisotopes the market is segmented into Technetium-99m (TC-99m), Thallium-201 (TL-201), Fluorine-18,Iodine (I-123), Rubidium-82 (RB-82) and others. The F-18 market is mostly contributed by F-18 FDG tracers though this market is enriched with future tracers such as F-18 Florbetapir and F-18 Choline. The promising clinical outcome of these tracers has gained the business interest of major research institutes and PET isotope players. Ga-68 and Rb-82 are two other potential isotopes in the PET diagnostic market, ensuring the high growth of the diagnostics segment. Diagnosis of coronary artery disease, bone metastasis, and Alzheimer’s disease are the most promising indications for the future PET radioisotopes market.
Some of the key players influencing the Middle-East & Africa nuclear medicine market are GE Healthcare, Hologic Inc., Medix Inc., Segami Corporation, Positron Corporation, Bracco Imaging S.p.A, Naviscan Inc., Bayer Healthcare, Lantheus Medical Imaging, Inc. and IBA Molecular Imaging.
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