The rising incidence and prevalence of cancer and disorder may be a key factor supporting market growth. Most cases are often prevented through early detection and treatment; medicine plays a big role in these areas.
As medicine plays a big role in disease diagnosis and treatment, the rising prevalence of those diseases is predicted to drive the expansion of the medicine market during the forecast period.
The expiry of a radiopharmaceutical primarily depends on the half-life of the radioisotope and therefore the content of the radionuclide.
However, the non-utilization of radioisotopes within the prescribed time period causes radiation and chemical decomposition, reducing radiochemical purity to an unacceptable form, which can prove fatal during diagnosis and therapy; these factors are hampering the market growth.
Covid-19 Impact on Nuclear Medicine/Radiopharmaceuticals Market:
In addition, this Global Market study offers an thorough analysis of this COVID-19 pandemic impact on the market growth and its influence on the long run growth of the worldwide Market. The recently published report demonstrates the elevation within the demand for the healthcare sector. The healthcare manufacturers have experienced future also as short term effect which incorporates supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption might be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and makers to the limit. In addition to this, panic conditions have already spurred the demand for several healthcare products and services which are discussed intimately during this report. Moreover, the impact of this pandemic on overall market revenue for rock bottom year 2020 and its projection up to 2027 is provided intimately during this report.
By type, Beta emitters held the most important share of the marketplace for medicine in 2019 due to less damage to surrounding cells, low energy levels, and travel long distance.
By Application, The oncology segment accounted for the best market share in 2018 because of increase in number of cancer cases and use of F-18 isotope. The top user segment has been segmented into research institutes, hospitals, diagnostic centers, et al.
By Industry Verticals, Cardiology is predicted to be the fastest growing segment during the forecast period due to the low cost of techniques and high adoption rate. Therefore, key players are that specialize in the event of latest diagnostic techniques to combat cardiovascular diseases.
Market Analysis, Insights and Forecast – By Type · Therapeutic · Alpha Emitters · Beta Emitters · Brachytherapy Isotopes · Diagnostic · PET Radiopharmaceuticals · SPECT Radiopharmaceuticals
Market Analysis, Insights and Forecast – By Application · Cardiology · Oncology · Thyroid · Neurology · Others
Market Analysis, Insights and Forecast – By Industry Verticals · Research Institutes · Hospitals · Diagnostic Centers · Others
Region-wise, in terms of regions, North America accounted for the biggest share of the market in 2019, followed by Europe and therefore the Asia Pacific. North America’s leading position is primarily because of the rising pet expenditure, the growing population of companion animals, and therefore the increasing consumption of animal-derived food products, thus encouraging the R&D activities, thereby boosting the market growth.
Nuclear Medicine/Radiopharmaceuticals Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)