Dublin, Nov. 28, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/j33j4x/nuclear) has announced the addition of the "Nuclear Medicine/Radiopharmaceuticals Global market - Forecast to 2020" report to their offering.
Nuclear medicine deals with the radioisotope applications in diagnosis and treatment of disease. Radiopharmaceuticals are drugs containing radionuclide's. Administration of radiopharmaceuticals facilitated to image bone, organs and the disease process in body at early stage based on cellular function and physiology. Around 200 radioisotopes are used regularly by the physicians for diagnosis and treatment across the globe. The global nuclear medicine/radiopharmaceutical market is segmented into diagnostic (SPECT and PET) and therapeutic areas (Beta, Alpha emitter, and Brachytherapy). Tc-99m and F-18 are proved to be the most dominant isotopes in SPECT and PET markets respectively. In addition, Rb-82 and Tl-201 are expected to register high growth in diagnostic market. Whereas Y-90 and Lu-177 are witnessing high growths in beta therapy radioisotopes market. Paediatrics, cardiology, oncology, neurology and psychiatry are some of the prominent applications areas of nuclear medicine.
Increase in use of SPECT and PET scans, and awareness by physicians for treatment of coronary heart disease, Alzheimer's disease, breast cancer and bone metastasis are some of the major drivers of nuclear medicine market. Moreover, the growing therapeutic areas such as lymphoma, prostate cancer, bone metastasis, and hepatocellular carcinoma also play a crucial role in the market growth. Whereas, the half-life of radiopharmaceuticals, high capital demand, lack of proper GMP (Good Manufacturing Practice), and inefficient effluent treatment are found to be the major factors hampering the nuclear medicine/radiopharmaceutical market growth. Increasing medical applications, rising demand in emerging economies and technological advancements in neurological applications are providing growth opportunities while, stringent regulatory guidelines and shutdown of nuclear reactors for radioisotope production are considered to be the major threats to the market growth.
The global nuclear medicine/radiopharmaceutical market is poised to reach around $6 billion by 2017 at a CAGR of more than 7%. The largest share in the global radiopharmaceuticals market is accounted by North America. Besides U.S. market Asia-Pacific region is also poised to show a remarkable growth. The Asia-Pacific radiopharmaceutical market is poised to reach approximately 14% by 2017 at a CAGR of around 11%. Countries such as China, India, Japan, South Korea, Brazil and South Africa possess reactors and other production units for isotopes. Moreover, the government initiative in funding the isotope manufacturers is also expected to boost the market growth.
The global nuclear medicine/radiopharmaceutical market is majorly comprised of five key players accounting for around 50% of the total market share. Key players include Covidien (), IBA Group, Lantheus Medical Imaging, Nordion, Triad Isotopes, Siemens Healthcare (PETNET Solutions), and NTP Radioisotopes. Acquisitions and mergers, new product launch, agreements and collaborations, and expansions were the main strategies followed by the key players in the global nuclear medicine market.
Key Topics Covered:
1. Executive Summary
3. Market Analysis
4. Global Nuclear Medicine Market By End-Users
5. Radiopharmaceuticals By Type
6. Stable Isotopes
7. Regional Market Analysis
8. Company Developments
9. Major Player Profiles
- Cardinal Health, Inc.
- GE Healthcare
- IBA Group
- Isotec, Inc. (Sigma-Aldrich)
- Lantheus Medical Imaging, Inc.
- Mallinckrodt Plc
- NTP Radioisotopes
- Nordion Inc
- Taiyo Nippon Sanso Corporation
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Source:Research and Markets