New Research Indicates Potential of Nuclear Medicine Radioisotopes in Treatment of Neurological Disorders
Global demand for nuclear medicine radioisotopes is forecasted to increase at a high-value CAGR of 8% over the next 10 years. As such, the global nuclear medicine radioisotopes market is expected to increase from a valuation of US$ 8.82 billion in 2023 to US$ 19.04 billion by the end of 2033. The nuclear medicine radioisotopes market involves the use of radioactive materials, known as radioisotopes, in medical imaging, diagnosis, and treatment. Radioisotopes are used to create images of the body’s internal organs and structures, as well as to treat certain medical conditions, such as cancer.
The global nuclear medicine radioisotopes market is expected to continue to grow in the coming years, driven by factors such as increasing incidence of cancer, rising demand for nuclear medicine procedures, and technological advancements in imaging and treatment methods. In addition, the development of new radioisotopes and radiopharmaceuticals is also expected to drive growth in the market However, the nuclear medicine radioisotopes market also faces certain challenges, such as the high cost of radioisotopes and radiopharmaceuticals, as well as the limited availability of some radioisotopes due to production and supply chain constraints. In addition, concerns about radiation exposure and safety may also impact the growth of the market in certain regions
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Key Takeaways from Market Study
- The global nuclear medicine radioisotopes market is expected to increase at a CAGR of 8% from 2023 to 2033.
- Germany’s market for nuclear medicine radioisotopes is predicted to expand at a CAGR of 6.5% during the projected period.
- Global sales of technetium-99m (Tc-99m) radioisotopes are expected to rise at a CAGR of 9% during the forecast period.
- Demand for thallium-201 (Tl-201) radioisotopes is predicted to expand at a CAGR of 6.5% during the next 10 years.
Regional Analysis
The nuclear medicine radioisotopes market is a global market, with North America, Europe, Asia-Pacific, and the Rest of the World (RoW) being the major regions covered in the market analysis. North America is expected to dominate the market, owing to the presence of a well-established healthcare infrastructure, increasing incidence of cancer, and rising demand for advanced imaging and treatment technologies. The region is also home to several leading players in the nuclear medicine radioisotopes market, which further contributes to its dominance.
Europe is another significant market for nuclear medicine radioisotopes, driven by factors such as increasing investments in healthcare infrastructure, rising incidence of chronic diseases, and growing demand for advanced imaging and treatment technologies. In addition, the region has a strong regulatory framework in place for the use of radioisotopes in medical applications, which further supports the growth of the market
Competitive Landscape
The market for radioisotopes used in nuclear medicine is fiercely competitive. Key companies in the nuclear medicine radioisotopes market are concentrating on local supply marketing in order to strengthen their market positions and increase their income. They are adjusting price trends and product standards in accordance with the expectations and needs of the regional customers.
- For instance, Curium announced in June 2021 that it had acquired Austrian pharmaceutical company IASON to expand its presence in the region.
- The first-of-its-kind therapeutic radioisotope production plant was officially opened as part of the NorthStar Medical Radioisotopes expansion event in October 2021.
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Key Companies Profiled
- Bayer AG
- Bracco Imaging SpA
- Cardinal Health, Inc.
- GE Healthcare
- Hologic, Inc.
- Lantheus Medical Imaging, Inc.
- Medtronic PLC
- NTP Radioisotopes SOC Ltd.
- Positron Corporation
- Siemens Healthineers
Segments of Nuclear Medicine Radioisotopes Industry Research
- By Radioisotope Type :
- Technetium-99m (Tc-99m)
- Thallium-201 (Tl-201)
- Gallium-67 (Ga-67)
- Iodine (I-123)
- By Application :
- Cardiology
- Oncology
- Neurology
- Lymphoma
- Thyroid
- By End User :
- Hospitals
- Diagnostic Centers
- Specialty Clinics
- Education & Research Institutes
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Key Questions Covered
- What are nuclear medicine radioisotopes, and how are they used in medical applications?
- What are the major drivers, restraints, and opportunities in the nuclear medicine radioisotopes market?
- What are the key trends and developments in the market, and how are they likely to impact the market growth?
- What are the different types of radioisotopes and radiopharmaceuticals used in nuclear medicine, and what are their respective applications?
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