Nuclear Imaging Market Value worth USD 18.19 Billion by 2023
Posted by MDFtrends on August 6th, 2018
Nuclear Imaging Market was worth USD 11.89 Billion in 2018 and estimated to be growing at a CAGR of 8.87%, to reach USD 18.19 Billion by 2023. Primary factors for the increase of the market are growing use of SPECT and pet analysis in radiopharmaceuticals, expanded recognition of human beings for radiopharmaceuticals, and ready availability of radiopharmaceuticals.
Novel application including Alzheimer’s and usually increasing oncology utility phase additionally power the marketplace. Till now, SPECT imaging became the mainstream modality for nuclear medication programs like nuclear cardiology procedures. But, the fashion is soon going to flip upside down because of the global shortage of molybdenum-ninety nine isotopes which in turn will lead to scarcity of Technetium-99, that's the daughter manufactured from molybdenum. As a result, PET imaging merchandise which includes hybrid PET-CT scanners holds an ability market length in coming years.
The comfort of the treatment with minimally invasive techniques draws extra sufferers toward radiopharmaceuticals mode of remedy as compared to chemotherapy. The elements that drive the Radiopharmaceuticals enterprise consist of increasing incidence of cardiac patients and adoption of clean imaging technique, with the assist of diagnostic gadgets such as PET and SPECT.
The factors that restrain the boom of the marketplace include supply shortages, logistical problems, and constrained range of trained medical employees, existence of radioisotopes, high capital funding, regulatory guidelines and repayment issues.
With one-fifth of the investments in health, the US leads the market for international nuclear imaging.
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The major companies dominating the global Nuclear Imaging market are Mallinckrodt plc, Siemens Medical Solutions, Hitachi Medical Corporation, Medtronic Inc., General Electric Co. (Healthcare Division), IBA Group, Positron Corporation, Philips Medical Systems, Naviscan, Toshiba Medical Systems Corporation, Carestream Health, Lantheus Medical Imaging Inc., Cardinal Health Inc., and Bayer AG.
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