Nuclear Medicine Market By Diagnostics (Single Photon Emission, Computed Tomography (SPECT), and Positron Emission Tomography (PET)), By Therapeutics (Alpha Emitters, Beta Emitters, and Brachytherapy), By Applications (Cardiology, Neurology, Oncology, and Other Applications), and By Region - Trends, Analysis and Forecast till 2030

Nuclear Medicine Market accounted for USD 4.26 Billion and is estimated to be USD 6.49 Billion by 2030 with a CAGR of 4.30% during the forecast period.

Radioactive materials and isotopes used for diagnosis and treatment of diseases such as cancers, neurological disorders, gastrointestinal, heart disease, etc. are known as nuclear medicines. Nuclear medicines help in the identification of diseases at an early stage by observing the molecular activity of cells within the body. Nuclear medicine may be a medicine involving the appliance of radioactive substances within the diagnosis and treatment of disease.

Medicine imaging, during a sense, is "radiology done inside out" or "endoradiology" because it records radiation emitting from within the body instead of radiation that's generated by external sources like X-rays. Additionally, medicine scans differ from radiology, because the emphasis isn't on imaging anatomy, but on the function. For such reason, it's called a physiological imaging modality. Single photon emission computerized tomography (SPECT) and positron emission tomography (PET) scans are the 2 commonest imaging modalities in medicine .

 Increasing number of cancer cases

The nuclear medicine market is currently in its growth stage driven by an increasing number of cancer cases and rising awareness about nuclear medicine. Increasing incidences of cancer and cardiac ailments are the major drivers for the target market growth. Nuclear medicine shows a huge potential in treating cardiac and cancer diseases. Several factors are poised to augment the demand for nuclear medicine, but none bigger than the growing prevalence of cancer and cardiac disorders. Advances in radiotracers, the advent of alpha radioimmunotherapy (Rit)-based targeted cancer treatments, and investments via public and private partnerships to revolutionize diagnostic measures are some of the other factors expected to drive the demand for the target market shortly.

However, major factors hampering the growth of the global nuclear medicine market are the high cost of diagnostic equipment and the high cost of treatment. Also, stringent government regulations for drug approval and drug usage are other factors hampering the growth of the target market. However, increasing the application of nuclear medicine in neurological applications is expected to create lucrative opportunities for major manufacturers in the global market over the forecast period.

The nuclear medicine market is segmented by diagnostics, by therapeutics, by applications, and by regions.

Based on diagnostics, the global nuclear medicine market is segmented into Single Photon Emission, Computed Tomography (SPECT), and Positron Emission Tomography (PET). Based on the Therapeutics the target market is segmented into Alpha Emitters, Beta Emitters, and Brachytherapy. Based on the application, the target market is bifurcated into Cardiology, Neurology, Oncology, and Other Applications.

Regional Insights:                                     

For detailed understanding of market dynamics, based on the region the global nuclear medicine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts highest revenue share to the global nuclear medicine market due to the growing demand for advanced medical technologies and the increasing geriatric population. Asia Pacific Nuclear Medicine market is projected to register a high CAGR over the forecast period owing to the growing trend of medical tourism, rising healthcare awareness, coupled with a continuous and growing demand for advanced medical technologies.

Detailed Segmentation:

Global Nuclear Medicine Market, By Diagnostics:

• Single Photon Emission
• Computed Tomography (SPECT)
• Positron Emission Tomography (PET)

Global Nuclear Medicine Market, By Therapeutics:

• Alpha Emitters
• Beta Emitters
• Brachytherapy

 Global Nuclear Medicine Market, By Application:

• Cardiology
• Neurology
• Oncology
• Other applications

Global Nuclear Medicine Market, By Region:

• North America
  • Middle East & Africa
    • Middle East & Africa Nuclear Medicine Market, By Product
    • Middle East & Africa Nuclear Medicine Market, By Therapeutics
    • Middle East & Africa Nuclear Medicine Market, By Application
    • Middle East & Africa Nuclear Medicine Market, By Country
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • Latin America Nuclear Medicine Market, By Product
    • Latin America Nuclear Medicine Market, By Therapeutics
    • Latin America Nuclear Medicine Market, By Application
    • Latin America Nuclear Medicine Market, By Country
      • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • Asia Pacific Nuclear Medicine Market, By Product
    • Asia Pacific Nuclear Medicine Market, By Therapeutics
    • Asia Pacific Nuclear Medicine Market, By Application
    • Asia Pacific Nuclear Medicine Market, By Country
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • Europe Nuclear Medicine Market, By Product
    • Europe Nuclear Medicine Market, By Therapeutics
    • Europe Nuclear Medicine Market, By Application
    • Europe Nuclear Medicine Market, By Country
      • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • North America Nuclear Medicine Market, By Diagnostics
  • North America Nuclear Medicine Market, By Therapeutics
  • North America Nuclear Medicine Market, By Application
  • North America Nuclear Medicine Market, By Country
    • The U.S.
    • Canada

The key players operating the global nuclear medicine market involves Eckert & Ziegler Group, Mallinckrodt Pharmaceuticals, GE Healthcare; Jubilant Life Sciences; Bracco Imaging S.p.A, Nordion, Inc., The Institute of Radioelements, Australian Nuclear Science & Technology Organization (ANSTO), NTP Radioisotopes SOC Ltd., and Eczacibasi-Monroe

• Eckert & Ziegler Group 
• Mallinckrodt Pharmaceuticals
• GE Healthcare; Jubilant Life Sciences
• Bracco Imaging S.p.A
•  Nordion, Inc.
• The Institute of Radioelements
• Australian Nuclear Science & Technology Organization
• NTP Radioisotopes SOC Ltd
• Eczacibasi-Monrol
• Curium