Increase in the number of cardiovascular diseases has led to the growth of nuclear medicine market worldwide in the next decade; according to a research conducted by Kenneth Research

 Nearly 9.6 million people died of cancer worldwide in 2018, according to a data given by World Health Organization. The number of cardiovascular diseases has increased worldwide and thus thrusting the nuclear medicine market. The market is expected to grow at an annual growth rate of almost 10% in the next 10 to 15 years.


By 2021, the global nuclear medicine market is estimated to be worth more than 8 billion U.S. dollars, and is expected to grow at a compound annual growth rate of approximately 10% during the forecast period from 2022-2030. The increase in the incidence of cancer is one of the main factors that are expected to promote the development of the nuclear medicine market. For example, according to the World Health Organization, approximately 9.6 million people died of cancer worldwide in 2018; in addition, the increasing prevalence of cardiovascular diseases is driving the growth of the nuclear medicine market. For example, according to the World Health Organization, cardiovascular disease causes more than 17.9 million deaths worldwide each year. It is estimated that by 2030, this number will exceed 23.6 million.

Carry out research and research to improve radiotherapy for various diseases, such as thyroid-related diseases, respiratory diseases, bone diseases, and neurological diseases. For example, in July 2019, French researchers published a study demonstrating the use of hafnium oxide nanoparticles NBTXR3 as a radiation enhancer to enhance the response of soft tissue sarcoma to radiation therapy. A technology that uses molecules as biomarkers of specific molecular processes that determine the appearance and/or progression of a disease.

Major market players:

Nordion, Inc., Eckert & Ziegler Group, GE Healthcare, and Bracco Imaging SpA, as well as government and technical organizations such as the Department of Atomic Energy and the Australian Department of Nuclear Science (ANSTO).

Positron emission tomography (PET) uses radioisotopes to diagnose target organs. The adoption of PET as a diagnostic tool is rapidly increasing because it provides higher accuracy than other diagnostic techniques. Usually, to improve accuracy, it is used in combination with X-ray and computed tomography (CT). The growing demand for early and accurate diagnosis, coupled with the growing demand for better medical solutions, is driving the development of the radiopharmaceutical market.

The measures and funds taken by the government to develop new technologies are expected to promote the development of the nuclear medicine market. For example, in January 2019, the European Regional Development Fund (EFRO) and Kansen voor West provided NRG with US$ 7.67 million in funding to FIELD-LAB for the development of new nuclear drugs for the treatment of cancer. Due to its low cost and wide application in different applications, the pharmaceutical market in 2019. In addition, major players are introducing digital SPECT scanners to the nuclear medicine market to improve diagnosis. For example, in November 2018, the Spectrum Dynamics; VERITON-CT 64 SPECT/CT system was approved by the US FDA to provide more image detail and 360-degree multi-detector geometry to produce high sensitivity. The treatment part includes alpha transmitter, beta transmitter and brachytherapy.

In 2019, beta emitters accounted for the majority of the nuclear medicine market due to low damage to surrounding cells, low energy levels and long-distance travel. The most widely used beta emitting radioisotopes are I-131, Y-90, SM-153 and re 186. Brachytherapy is expected to grow faster in the prognosis period. High precision and minimizing the risk of side effects are factors that promote the faster development of brachytherapy.

Main market regions:

The study on nuclear medicine market was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the Global Nuclear medicine market research report to ensure it dives deep to achieve strategic competitive intelligence in the segment. 

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