The Global nuclear medicine diagnostic market has been estimated at USD billion in 2015 and is projected to reach USD billion by 2020, at a CAGR of during the forecast period from 2015 to 2020. Nuclear medicine diagnostic involves the use of radioisotope tracers to image and/or measure the global or regional function of an organ.
Nuclear imaging uses low doses of radioactive substances linked to compounds used by the body’s cells or compounds that attach to tumor cells. These radioactive substances can be traced in the body using detection equipment to see where the substances have concentrated. It has been widely used for the detection of cancer, thyroid and other ailments.
The market of the nuclear medicine diagnostic have been driven by various factors like increase in incidents of cancer and cardiac ailments, increasing use of SPECT and PET in radiopharmaceuticals, increasing awareness of radiopharmaceuticals and the ready availability of radiopharmaceuticals. However, the market is restrained by shorter half life of radiopharmaceuticals, high capital investment, regulatory guidelines and reimbursement issues.
The global nuclear medicine diagnostic market is segmented into diagnostic and its application. Based on diagnostic technologies the market is segmented into SPECT radioisotopes and PET radioisotopes. SPECT radioisotopes are further sub segmented into technetium-99m(TC-99m), thallium -201 (TL-201), Iodine (I-123) and others. The PET radioisotopes are further sub segmented as Fluorine -18, Rubidium -82 (RB-82) and others. Based on applications the SPECT market is further segmented as cardiology, lymphoma, thyroid, neurology and others. The PET application market is also segmented based on Oncology, cardiology, neurology and others.
Based on geography the global nuclear medicine market is segmented into North America (USA, Canada and Mexico), Europe (France, UK, Germany, Spain, Portugal, Scandinavia and Italy), Asia-Pacific (India, China, Japan, South Korea, Australia, New Zealand), Middle East and Africa (GCC, Egypt) and Latin America (Brazil and Argentina).
The potential radioisotopes that are in the pipeline of development, increasing neurological application and the cyclotron based production of radioisotopes are some of the market opportunities faced by market players. However, the regulations and shutdown of nuclear reactors is going to be a major challenge to deal with. The key players in the field are Agfa-Gevaert N.V, Cardiac Ltd, Digiraid Corporation, Gamma Medica Inc., GE Healthcare among many others.