Nuclear Medicine Diagnostics Market Share, Growth, Trends, And Forecasts (2018 To 2023)
Nuclear Medicine Diagnostics Market By SPECT And PET, By Application (cardiology, Lymphoma, Thyroid, Neurology, Oncology) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2018 To 2023)
(EMAILWIRE.COM, August 16, 2018 ) Global Nuclear Medicine Diagnostic Market is estimated at $12.6 billion in 2018 and is expected to reach $23.42 billion by 2023, at a compound annual growth rate (CAGR) of 13.2%. Nuclear medicine is a branch of medicine that uses radiation to deliver information about the functioning of a person's specific organs or to treat a disease. In most cases, the information will assist the physicians to make a quick, accurate diagnosis of the patient's illness.
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Over 10,000 hospitals worldwide practice radioisotopes in medicine, and about 90% of these procedures are for diagnosis. The most common radioisotope accustomed in diagnosis is technetium-99, with some 40-45 million procedures per year (around 16.7 million in USA, 550,000 in Australia), aggregating to 80% of all nuclear medicine procedures worldwide.
SPECT imaging is the most conventional modality for nuclear medicine applications such as nuclear cardiology procedures. However, the trend is soon going to flip upside down owing to shortage of molybdenum-99 isotope which is in turn will lead to deficiency of Technetium-99, which is the by-product of molybdenum. Therefore, PET imaging products which include hybrid PET-CT scanners will account for a potentially hefty market size in the near future.
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The emerging market tendency will be a fusion of nuclear imaging with different diagnostic imaging products such as SPECT/CT, PET/CT and MRI/PET. This provides full range of imaging scans through the same unit and at the same time. PET market is expected to witness more growth compared to SPECT imaging as it delivers higher resolution images and the lack of availability of technetium-99m is forcing industry to look for alternative diagnostic procedures
Increasing usage of SPECT and PET in medical diagnostics, rising awareness among people about radiopharmaceuticals, and ready availability of radiopharmaceuticals are the major factors fuelling the growth of the market. However, short half- life of radioisotopes, regulatory guidelines, high capital investment and reimbursement issues are the major restrains for the nuclear medicine market growth.
The Nuclear Medicine Diagnostic Market Growth is segmented into two major segments SPECT (Technetium-99m (TC-99m), Iodine (I-123) Thallium-201 (TL-201) and others) and PET (Rubidium-82 (RB-82), Fluorine-18, and others). By application, the market is categorized into SPECT (lymphoma, cardiology, neurology, thyroid and others) and PET (cardiology, oncology, neurology and others).
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Furthermore, on the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share of the nuclear medicine market, followed by Asia-Pacific and Europe.
Market Segmentation
By Type
SPECT
i. Technetium-99m
ii. Thallium-201
iii. Gallium-67
iv. Iodine-23
v. Others
PET
i. Fluorine-18
ii. Rubidium-82
iii. Others
By Application
Cardiology
Lymphoma
Thyroid
Neurology
Oncology
Others
The Scope of the report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms product type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
About Us:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.
Contact:
Abhishek Shukla
Sales Manager (International Business Development)
Market Data Forecast
Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Mail: abhishek@marketdataforecast.com
Visit MarketDataForecast Blog @ http://www.marketdataforecast.com/blog/
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Get the Complete Report & TOC @ https://www.marketdataforecast.com/market-reports/global-nuclear-medicine-diagnostics-market-123/
Over 10,000 hospitals worldwide practice radioisotopes in medicine, and about 90% of these procedures are for diagnosis. The most common radioisotope accustomed in diagnosis is technetium-99, with some 40-45 million procedures per year (around 16.7 million in USA, 550,000 in Australia), aggregating to 80% of all nuclear medicine procedures worldwide.
SPECT imaging is the most conventional modality for nuclear medicine applications such as nuclear cardiology procedures. However, the trend is soon going to flip upside down owing to shortage of molybdenum-99 isotope which is in turn will lead to deficiency of Technetium-99, which is the by-product of molybdenum. Therefore, PET imaging products which include hybrid PET-CT scanners will account for a potentially hefty market size in the near future.
Download FREE Sample of this Report @ https://www.marketdataforecast.com/market-reports/global-nuclear-medicine-diagnostics-market-123/request-sample
The emerging market tendency will be a fusion of nuclear imaging with different diagnostic imaging products such as SPECT/CT, PET/CT and MRI/PET. This provides full range of imaging scans through the same unit and at the same time. PET market is expected to witness more growth compared to SPECT imaging as it delivers higher resolution images and the lack of availability of technetium-99m is forcing industry to look for alternative diagnostic procedures
Increasing usage of SPECT and PET in medical diagnostics, rising awareness among people about radiopharmaceuticals, and ready availability of radiopharmaceuticals are the major factors fuelling the growth of the market. However, short half- life of radioisotopes, regulatory guidelines, high capital investment and reimbursement issues are the major restrains for the nuclear medicine market growth.
The Nuclear Medicine Diagnostic Market Growth is segmented into two major segments SPECT (Technetium-99m (TC-99m), Iodine (I-123) Thallium-201 (TL-201) and others) and PET (Rubidium-82 (RB-82), Fluorine-18, and others). By application, the market is categorized into SPECT (lymphoma, cardiology, neurology, thyroid and others) and PET (cardiology, oncology, neurology and others).
Get the Customize Report @ https://www.marketdataforecast.com/market-reports/global-nuclear-medicine-diagnostics-market-123/customize-report
Furthermore, on the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share of the nuclear medicine market, followed by Asia-Pacific and Europe.
Market Segmentation
By Type
SPECT
i. Technetium-99m
ii. Thallium-201
iii. Gallium-67
iv. Iodine-23
v. Others
PET
i. Fluorine-18
ii. Rubidium-82
iii. Others
By Application
Cardiology
Lymphoma
Thyroid
Neurology
Oncology
Others
The Scope of the report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms product type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
About Us:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.
Contact:
Abhishek Shukla
Sales Manager (International Business Development)
Market Data Forecast
Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Mail: abhishek@marketdataforecast.com
Visit MarketDataForecast Blog @ http://www.marketdataforecast.com/blog/
View latest Press Releases of MDF @ http://www.marketdataforecast.com/press-releases
Contact Information:
Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results