According to the report “Nuclear Medicine Radiopharmaceuticals Market” published by Market Data Forecast, the global market is projected to reach USD 8.44 billion by 2020, at a CAGR of 13.4% from 2015 to 2020.
Nuclear medicine falls under the field of Molecular imaging, which involves usage of minute amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease. Radiopharmaceuticals target a specific organ or site and emit the gamma radiations. These radiopharmaceuticals are administered inside the body by different routes of administration such as oral, inhalation or injection depending on the drug and targeted organ
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Increasing prevalence of cancer and cardiac ailments, massive technological advancements, growing demand for SPECT and PET applications along with the increasing public awareness for healthcare are the major factors fuelling the market growth for Radiopharmaceuticals. Further, Integration of X ray tomography (CT) into SPECT has recently emerged as an excellent diagnostic tool in medical imaging and is considered to be a powerful factor for the growth of the market. However short half-life of radiopharmaceuticals and strict regulatory framework for pose a great threat to the market growth. Reimbursement also is a major factor restraining the growth of the market.
Global Nuclear Medicine Radiopharmaceuticals market is segmented as:
1) Diagnostic Radioisotopes
2) Therapeutic Radio Isotopes
3) By Application
Some of the major players covered in the report are GE Healthcare, Hologic Inc., Medix Inc., Segami Corporation, Positron Corporation, Bracco Imaging S.p.A, Naviscan Inc., Bayer Healthcare, Lantheus Medical Imaging, Inc. and IBA Molecular Imaging.
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