Global Nuclear medicine has attained phenomenal growth in the past few decades. The report investigates the latest market shares, revenues, and restraints. It discusses the industry’s types, distribution channels, products, and applications. The report examines the competitive marketing strategies of the top grooming companies of the sector. It helps to understand the data assessments and specifics about the potential growth opportunities of the market. The report gives a bright light to the regional and volumetric analysis of different countries such as North America, South America, South Korea, Japan, France, Italy, China, Russia, India, Australia, and other regions of the world. It imparts a study on the major challenges of the COVID 19 pandemic. The report gives a pre-requisite knowledge on the vital position of the market.
According to the research report, Global Nuclear Medicine/Radiopharmaceuticals Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027, say that nuclear medicine is a specialized area of radiology that uses very small amounts of radioactive materials, or radiopharmaceuticals, to examine organ function and structure. The prime growth factor of the market is the increasing number of cancer cases and cardiovascular diseases around the globe. These radioactive drugs are used in diagnosing, treating cancer and heart diseases. These medications can be delivered orally, intravenously, and interstitially. The facilities and procedures for the production, use, and storage of radiopharmaceuticals are subject to licensing by national and regional authorities. Radiopharmaceuticals, also known as nuclear medicines, are used in applications such as lymphoma and bone metastasis. F-18, Tc-99, Ga-67, and I-123 are some of the nuclear medicines used in diagnostic procedures.Technetium-99m is the most extensively used radioisotope in medicine being involved in all nuclear medicine procedures.
In 2021, Global Nuclear Medicine Market was valued at USD million and is projected to reach a significant USD million by the end of 2027. It is expected to grow by a single-digit CAGR in the worldwide markets during the forecast period. The conventional chemotherapy methods are being replaced by more convenient therapeutic radiopharmaceuticals for oncology and cancer treatment, which opens up new avenues in the radiopharmaceuticals market. Mallinckrodt plc., General Electric Co. (healthcare division), Medtronic, Inc., Bayer AG, Cardinal Health, Inc., Lantheus Medical Imaging, Inc., and IBA Group are some of the prominent key players of the industry.
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The increasing incidence of cardiac patients and adoption of clear imaging techniques, with the help of diagnostic equipment such as PET and SPECT, are constantly increasing the growth of the market. North America accounting for the highest share is dominating the market and is expected to continue its dominance during the forecast period. Countries such as North America (the US, Mexico, and Canada); Europe (Germany, UK, France, Russia, and Spain); Asia-Pacific (China, Japan, South Korea, and India); the Middle East and Africa (UAE, South Africa, and Saudi Arabia); South America (Columbia, Brazil, and Argentina) and Australia are actively participating in the growth of Global Radiopharmaceuticals Market.
The Covid 19 crisis has created a negative impact on Global Radiopharmaceuticals Market globally. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations, travel bans and quarantines, restaurants closed all indoor or outdoor events restricted. This leads to making uncertainty in the market with the immense slowing in supply chains. Moreover, the pandemic resulted in lower patient volumes for nuclear medicine procedures and canceled elective procedures, creating a cash crunch for hospitals.
However, the market is expanding at a rapid pace due to the increase in cancer cases and cardiovascular diseases. Radiopharmaceuticals are pharmaceutical formulations comprising radioactive isotopes that are used in diagnosis and therapeutics. Numerous countries are actively participating to increase their market share. Besides providing information regarding key players in the Global Nuclear Medicine Market, the report recalibrates the impact of macroeconomic and microeconomic factors that has the potential to impact the growth of the Global Nuclear Medicine Market.
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