DUBLIN–(BUSINESS WIRE)–The “Nuclear Medicine Market Size, Share & Trends Analysis Report by Product (Diagnostics (SPECT, PET)), Therapeutics (Alpha Emitters, Beta Emitters, Brachytherapy), by Application, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global nuclear medicine market size is expected to reach USD 24.4 billion by 2030, expanding at a CAGR of 13.0% from 2022 to 2030
The increasing prevalence of chronic diseases such as cancer & thyroid is anticipated to drive market growth. The impending approval of multiple radiopharmaceutical therapeutics during the forecast period will be a major driver for the market. For instance, in March 2022, Novartis AG received approval for Pluvicto (Lu 177) for the treatment of adult patients with prostate cancer.
According to the Pan American Health Organization (PAHO), in 2022, globally around 20 million new cases of cancer are estimated to be diagnosed, and around 10 million deaths occurred due to this disease. Factors like changing lifestyle, unhealthy diet, and less awareness about oral hygiene in low and middle-income countries is the most common cause of the prevalence of cancer.
Increasing adoption of nuclear medicine products in diagnosis and the approval of new generators to help increase the supply of radionuclides is expected to drive growth. For instance, in November 2021, EZAG received the Brazilian Health Authority Regulatory Agency’s (ANVISA) approval for GalliaPharm in Brazil.
It is a gallium-68 generator used to extract the positron-emitting isotope of gallium from a source of decaying germanium-68 for making G68 dotatate injection. This is the first and only gallium generator approved for pharmaceutical use in Brazil. The approval of such products contributes to the market growth in developing markets.
In light of the COVID-19 pandemic, the market was moderately impacted. A survey was conducted for reactor-based medical isotopes by International Atomic Energy Agency (IAEA) during the second quarter of 2020 to assess the continuity of the supply chain during the COVID-19 crisis.
It was revealed that major producers continued with production in line with IAEA safety standards, as their operations were categorized as essential by their respective governments.
Nuclear Medicine Market Report Highlights
Industry Outlook
Market Variable Analysis
Market Restraint Analysis
Swot Analysis; by Factor (Political & Legal, Economic and Technological)
Porter’s Five Forces Analysis
Value Chain Analysis
Production Process and Trends
Radiopharmaceuticals Market-Covid-19 Impact
Pipeline Analysis
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/7l2g7a
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