Pune 6, April 2023: The report expects the Nuclear Medicine Market to grow from USD 5.5 Bn in 2021 to USD 18.9 Bn by 2029 at a CAGR of 14.7 percent over the forecast period. The report is a mixture of primary data and secondary data and domain expert has analyzed the Nuclear Medicine Market from a local, global and regional perspective.
Nuclear Medicine Market Report Scope and Research Methodology
The report includes the current trends and market highlights in the Nuclear Medicine market. It provides the major drivers, challenges, and restraints of the market. The report covers the estimation of the Nuclear Medicine market size and growth rate of the market investors and stakeholders perceive the investment decisions with the demand and pricing analysis of the market. Segment-wise analysis of the market is divided into Product Type, Application and End-User.
Regional analysis of the market is conducted at a global, regional and country level and it helps the regional insights such as market share dominance, market penetration and upcoming market growth opportunities. The bottom-up approach was used for Nuclear Medicine market size estimation. Primary and secondary data collection techniques with qualitative and quantitative analysis are used for the collection of data for the market. SWOT analysis was conducted to provide the strengths and weaknesses of the Nuclear Medicine industry while PESTLE was employed to understand the growth targets and risks of the market.
Nuclear Medicine Market Dynamics
The Nuclear Medicine Market is driven by the increasing number of incidences of cardiovascular disease (CVD) and cancer, the growing geriatric population, increasing research and developments healthcare sector and the emergence of high-resolution diagnostic techniques such as SPECT, CT and PET. The increasing initiatives for reducing the demand-supply gap of Mo-99 and favorable government initiatives for nuclear medicine are also responsible growth factors for the Nuclear Medicine industry.
The increasing use of radiopharmaceuticals in neurological applications is the expected lucrative opportunity for the growth of the Nuclear Medicine Market. The market growth is constrained by the short half-life of radiopharmaceuticals.
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Nuclear Medicine Market Regional Insights
In 2021, North America dominated the Nuclear Medicine Market with a market share of 45.2 percent and is expected to continue its dominance over the forecast period. The regional market is driven by government funding, strong healthcare infrastructure, increasing prevalence of cancer and the development of novel technologies for the production of the radioisotope.
Asia Pacific region is expected to have a significant growth rate for the Nuclear Medicine Market. The increasing use of nuclear medicine, rising healthcare expenditure increasing prevalence of cardiovascular disorders are the expected influencing factors for the regional growth of the market.
Nuclear Medicine Market Segmentation
By Product Type
By Application
By End-User
Nuclear Medicine Market Key Players include:
Table of Content for Global Nuclear Medicine Market:
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Key questions answered in the Nuclear Medicine Market are:
Key Offerings:
Maximize Market Research Healthcare research firm, has also published the following reports:
Therapeutic Nuclear Medicine Market: The market size is expected to reach USD 6.74 Bn by 2029 at a CAGR of 4.7 percent during the forecast period. The market is driven by the increasing growth rate of disease, the growing prevalence of cardiovascular diseases and advances in cancer treatments and radiotracers.
Nuclear Medicine Equipment Market: The market size is expected to reach USD 3.56 Bn by 2029 at a CAGR of 3.87 percent during the forecast period. The market is driven by the rising cancer prevalence and increasing adoption of nuclear medicine appliances by end users.
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