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The Nuclear Medicine Market Analysis: Expectations vs Reality

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The Nuclear Medicine Market Analysis: Expectations vs Reality

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Latest Report Available at Analytical Research Cognizance, “Nuclear Medicine Market” provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.

“Market Overview
– Increasing incidences of cancer and cardiac ailments are the major drivers for the market studied. Nuclear medicine shows a huge potential in treating cardiac and cancer diseases. According to the National Cancer Institute (NCI) report, it was estimated that 1,735,350 new cases of cancer are diagnosed in the United States in 2018, and 609,640 people may die from the disease.

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– Other factors, such as increasing SPECT and PET applications and growing public awareness for healthcare, are expected to drive the market in the future. Regulatory requirements pose another hurdle to translational research and clinical investigations.
– In the United States, all pharmacologic agents, including diagnostic radiopharmaceuticals and radio therapeutics, undergo regulatory oversight by the FDA. Radiopharmaceuticals face additional scrutiny and undergo unique regulatory and approval pathways. Sometimes, extensive toxicology testing poses considerable financial burdens for the investigators.
– Additionally, reimbursement hurdles for the manufacturer and high capital investment are also restraining the market growth.
Scope of the Report
Nuclear medicine falls under the field of molecular imaging, which involves the use of a very small amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease. In nuclear medicine imaging, the radioisotopes are detected by special types of cameras attached to the computer, which in turn, provide very precise pictures of the area of the body examined.

Key Market Trends
Cardiology Application is Expected to Experience Strong Growth in the Market

The application segment is further sub-segmented into cardiology, neurology, oncology, and other applications. The major factor driving the growth of the market is the rising prevalence of cardiovascular diseases (CVD) over the world. According to the estimates of the World Health Organization (WHO), in 2016, 17.9 million people died, due to CVDs.

The diagnostics segment is further segmented into SPECT and PET. PET imaging radioisotopes have many applications in clinical neurology, which involves movement disorders, epilepsy, brain tumors, dementia, stroke, and neuronal plasticity. Future applications include early diagnosis of brain metastases, Parkinson syndromes, and neurodegenerative disorders, such as Alzheimer’s disease. The market for radioisotopes is expected to be larger in the developing countries because of the increasing awareness among people about radioisotopes, increasing the incidence of chronic diseases, like cancer, and increasing population.

North America is Expected to Dominate the Nuclear Medicine Market

North America is the dominant market for nuclear medicine. Within North America, the United States is the largest consumer market for radioisotopes, and Canada is the largest producer of Tc-99m. The United States was the largest contributor to the North American region, in terms of revenue, and it is expected to retain its dominance, owing to the higher procedural volume and increasing adoption of nuclear medicine for various therapeutic applications.

Asia-Pacific is expected to witness healthy CAGR during the forecast period. A rise in demand for nuclear medicines in emerging countries, such as India and China, is due to the rise in disposable income, improving healthcare standards, and favorable reforms in foreign policies.

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Competitive Landscape
There is high competition among the players of the global nuclear medicine market. However, this competition is not by virtue of competitive pricing or product differentiation. Additionally, big players of the pharmaceutical and biotechnology industries are leveraging their huge capital reserves to venture into this market, which is further increasing the competition. For instance, April 2017, IBA Molecular and Mallinckrodt Nuclear Medicine LLC united to create Curium, a world-class provider in nuclear imaging. Various developments have recently been taking place in the market, such as and in May 2018, Curium enhanced its position in the French PET market with the acquisition of Cyclopharma’s French commercial and manufacturing operations.

Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support

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Major Point of TOC:

Chapter One: INTRODUCTION

Chapter Two: RESEARCH METHODOLOGY

Chapter Three: EXECUTIVE SUMMARY

Chapter Four: MARKET DYNAMICS

Chapter Five: MARKET SEGMENTATION

Chapter Six: COMPETITIVE LANDSCAPE

Chapter Seven: MARKET OPPORTUNITIES AND FUTURE TRENDS

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