North American Nuclear Medicine Market Size to Hit $2.7 billion by 2024

The growth of the market can be mainly attributed to factors such as increasing incidence and prevalence of cancer and heart disease and initiatives to close the supply-demand gap for Mo-99.

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Nuclear medicine deals with the use of radioactive materials in research, diagnosis and treatment. The increasing incidence of cancer and heart disease is a major driver of the research market. Nuclear medicine shows tremendous potential for the treatment of heart and cancer diseases.

Market Segmentation

Based on type, the nuclear medicine market is segmented into diagnostic and therapeutic. The diagnostic segment accounted for a larger share of the market 2020. The large share of this segment can be attributed to the non-invasiveness, increasing prevalence of cardiovascular diseases and early diagnosis.

Based on application, the nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The SPECT applications 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.

Regional Analysis

North America accounted for the largest share of the nuclear medicine market. A large share of North America can be attributed to The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the region.

Expected Revenue Growth:

[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.

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Key Market Players

Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).

Cardinal Health (US) is one of the major players in the North American nuclear medicine market. Cardinal Health is a healthcare services company providing pharmaceutical and medical products services to healthcare providers.

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Product Analysis