10 February 2021
Visiongain has published a new report on Nuclear Medicine Market Report 2021-2031: Forecasts by Type (Diagnostic (SPECT - Technetium, PET- F-18), by Therapeutic (Beta Emitters – I-131, Alpha Emitters, Brachytherapy – Y-90)), by Application (Oncology, Cardiology). PLUS Profiles of Leading Pharma Contract Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Nuclear Medicine/Radiopharmaceuticals market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031
Nuclear medicine/ radiopharmaceuticals are radioactive compounds administered to the patient and monitored via specific imaging devices for diagnosis and therapeutic purposes.
A radiopharmaceutical is a drug that can be used either for diagnostic or therapeutic purposes. Itis made of radioisotope bond to an organic molecule. The organic molecule conveys the radioisotope to specific organs, tissues or cells.
Radioisotopes emitting short range particles are used for therapy due to their power to loseall their energy over a very short range. This property is used for therapeutic purposes like cancer cells destruction pain treatment in palliative care for bone cancer or arthritis.Such isotopes stay longer in the bodythan imaging ones, this is intentional in order to increase treatment efficiency.
COVID-19 Impact on Nuclear Medicine/Radiopharmaceuticals market
Nuclear medicines/ radiopharmaceutical markets is likely to grow because of the pandemic Covid 19.
Because of the pandemic hospitals are running with the overcapacity. Threat is driving to the patients having heart disease and cancers patients, hence the patients are likely to be diverted towards nuclear medicine/ radiopharmaceuticals.
Growth in the market can be divided into factors such as increasing incidence and happening of cancer and cardiac problems.
Radiopharmaceuticals reduces their potential adoption as hospital budget cuts and high equipment prices are expected to limit market growth to certain point.
Use of Radiopharmaceuticals in Neurological Applications is paving the way for the nuclear medicines market towards growth.
The nuclear medicine market is working towards the development of novel technologies for radioisotopes production government funding and company initiatives in the respected country.Major companies in the production of nuclear medicines include: 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), NTP Radioisotopes (South Africa), JSC Isotope (Russia), NorthStar Medical Radioisotopes (US), Eckert & Ziegler (Germany), Jubilant DraxImage (Canada), PharmaLogic (US), Institute of Isotopes Co., Ltd. (Hungary), Sinotau Pharmaceuticals (China), Isotopia Molecular Imaging Limited (Israel), SHINE Medical Technologies (US), and Global Medical Solutions (US).
• In 2019. Curium acquired MAP Medical, which will help it to upsurge its geographical presence in Europe with direct access to Nordic and Baltic countries.
• In 2019, Eczacýbaþý-Monrol and Telix Pharmaceuticals Limited (Australia) signed a manufacturing and distribution contract. According to the contract signed, Eczacýbaþý-Monrolwill work as a radiopharmaceutical production partner and distributor in Turkey, the Middle East, and North Africa for Telix.
• In 2019, Curium (France) and NRG (Netherlands) signed a contract for the production of Molybdenum-99.
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