[159 Pages Report] The North American nuclear medicine market is expected to reach USD 2.7 billion by 2024 from an estimated USD 2.2 billion in 2019, growing at a CAGR of 4.1% during the forecast period.
The study involved four major activities in estimating the current size for the North American nuclear medicine market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
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The increasing adoption of automated inspection systems in the pharmaceutical and biotechnology industries, growth in the number of product recalls, an increasing number of inspection checkpoints throughout the production line, and technological advancements in inspection systems support the growth of the market.
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Based on type, the market is categorized into diagnostic and therapeutic nuclear medicine. The therapeutic nuclear medicine segment is further segmented into alpha emitters, beta emitters, and brachytherapy isotopes.
The geographical regions mapped in the report are:
1. North America
Geographically, the North American market comprises of US and Canada. In 2018, the US accounted for the largest share of the nuclear medicine market. The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the country.
Based on application, the North American nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The SPECT applications segment is further segmented into cardiology, bone scans, thyroid applications, pulmonary scans, and other SPECT applications. The thyroid applications segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing incidence and prevalence of thyroid disorders.
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Some key players mentioned in the research report are:
Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (OTCPK:ITALY), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).