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Global Nuclear Medicine Market: Overview

Although not every medical isotopes are particularly radioactive in nature, nuclear medicines or radiopharmaceuticals make for one of the common drugs that are used for the diagnosis of dysfunctions in human body tissue. Nuclear medicines are used for both diagnostic and therapeutic purposes and there are more than 30 specific radiopharmaceuticals used by medical practitioners. Various forms of nuclear medicines are useful in treating cancer, neurological disorders, gastrointestinal, and other diseases. According to the findings of this business intelligence study, as the healthcare infrastructure improves across several emerging economies, the demand in the global radiopharmaceuticals market is primed to expand at a healthy CAGR during the forecast period of 2016 to 2024.

This nuclear medicine market report has been developed by healthcare experts with a solitary aspiration to act as a dependable business document for selected audiences such as manufacturers and distributors of radiopharmaceuticals, healthcare institutions including hospitals and medical schools, research and development institutes, contract manufacturing organizations, and venture capitalists. The report includes comprehensive and figurative assessment of the demand potential of various market segments, analyzes various impacting factors including trends, drivers, and obstructions, and takes stock of the demand that can be expected out of different countries and regions. The report also contains a featured chapter on the competitive landscape of the radiopharmaceutical market.

Global Nuclear Medicine Market: Drivers and Restraints

A number of factors are poised to augment the demand for nuclear medicine, but none bigger than the growing prevalence of cancer and cardiac disorders. According to the World Health Organization (WHO), cancer causes almost one out of six deaths across the world and the population suffering from various type of it is expanding consistently as a result of lifestyle involving tobacco and alcohol, low intake of fruits and vegetables, and lack of physical activity.

Advances in radiotracers, advent of alpha radioimmunotherapy (Rit)-based targeted cancer treatments, and investments via public and private partnerships to revolutionize diagnostic measures are some of the other factors expected to drive the demand for radiopharmaceuticals market in the near future. On the other hand, significantly shorter half-life of radiopharmaceuticals, substantially high cost of these specific medicines, and shutting down of several nuclear reactors are some of the restraints obstructing the market from attaining greater profitability. That being said, the analysts have also highlighted growing demand from emerging economies, upcoming radioisotopes, and expanding usage across neurological applications are some of the opportunities that will open new revenue avenues in the near future.

Global Nuclear Medicine Market: Regional Analysis

Apart from segmenting the radiopharmaceuticals market on different aspects such as type, procedural volume, and application, the report has also gauged the potential of demand that can be expected out of every important region and country. Presently, North America is the leading provider of demand, followed by Europe. However, emerging economies such as China, India, Malaysia, and Indonesia are expected to transform Asia Pacific into high potential region during the second half of the aforementioned forecast period of the report.

Global Nuclear Medicine Market: Competitive Landscape

GE Healthcare, Cardinal Health Inc., Bayer AG, Mallinckrodt PLC, Nordion, Inc., IBA Molecular Imaging, and Advanced Accelerator Applications S.A. are some of the notable companies holding prominent positions in this market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nuclear Medicine Market

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