The medicines which use radioactive materials to diagnose and treat diseases are called nuclear medicines. These are also known as radiopharmaceutical. The requirement of costly surgeries to find out diseases can be done away with by using nuclear medicines.
The end-users of nuclear medicines are diagnostic firms and healthcare industry. The nuclear medicines help in treatment of dangerous diseases like cancer by helping in detection at an early stage.
The global Nuclear Medicine market was valued at US$ 4.67 bn in 2016 and is expected to be valued at US$ 7.27 bn in 2021 with a CAGR of 9.3% for the forecast period 2017-2021.
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The global Nuclear Medicine market is segmented on the basis of type, procedure, application, and geographical region.
On the basis of type: Diagnostic and Therapeutic.
On the basis of procedure: Diagnostic (SPECT, PET) and Therapeutic (Alpha, Beta, Brachytherapy).
On the basis of application: Diagnostic (Thyroid, Neurology, Cardiology, Lymphoma, Oncology) and Therapeutic (Lymphoma, Thyroid, Endocrine Tumours, Bone Metastasis).
On the basis of geographical region: Asia Pacific, Europe, North America and Rest of the World.
For the forecast period 2017-2021 Asia Pacific region is expected to show highest growth with largest market share because India, Japan and China has installed PET scanners and increased nuclear medicines production.
The drivers of global Nuclear Medicine market are the increases cases of patients suffering from diseases like cancer, funding for research in this field and advent of alpha radiotherapy.
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The big companies in global Nuclear Medicine market are Mallinckrodt plc, Lantheus Medical Imaging, Inc., Bracco Imaging S.p.A, Nordion, Inc., IBA Molecular Imaging, Cardinal Health Inc., GE Healthcare, Bayer AG, Eczacibasi-Monrol Nuclear Products and Advanced Accelerator Applications S.A.
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