Nuclear Medicine/Radiopharmaceuticals Market: Overview
The increasing prevalence of Cancer, failure of Cardiac, Alzheimer’s, and Parkinson’s are some of the important factor propelling the growth of the global market for nuclear medicine and radiopharmaceuticals market in near future. Rising demand from the growing economies is expected to influence the demand of this market during the course of the forecast period from 2015 to 2023. Furthermore, increasing demand for proper healthcare infrastructure, the non-invasive nature of the process and increasing investment on healthcare in this growing countries is likely to upsurge the demand of this market, positively. The nuclear medicine and radiopharmaceuticals market is further driven by spreading awareness at global level, major progress in development of the radiotracers and the new pipeline of radioisotopes.
On the other hand, very short term life of the radiopharmaceuticals, unavailability of the reimbursement policy and strict policy and rule are some of the factor hampering the growth of the market at global level. The radiation exposure side effects is also one of the important factor driving the demand negatively. The major side effects of the radiation are infertility among men, skin irritation, vomiting, fatigue and nausea.
The global market for nuclear medicine and radiopharmaceuticals can be classified on the basis of the product types and applications. Among all segment, cardiology of the application segments dominates the market in terms of largest market share. Whereas, SPECT of the product types segments expected to account for major share of the market in nuclear medicine and radiopharmaceuticals market in coming years.
Nuclear Medicine/Radiopharmaceuticals Market: Trends
The dependency and importance of the diagnosing disease is one of the major factor significantly driving the demand of the nuclear medicine and radiopharmaceuticals market. The radiopharmaceuticals also helps in diagnosis the heart rate, the mechanism process of kidney cells. The radiopharmaceuticals helps in diagnosing metal health of the patients and it also helps in diagnosing the exact location of bone fracture and the cancers location.
Nuclear Medicine/Radiopharmaceuticals Market: Geography
On the basis of geography, North America is likely to dominate the global market for nuclear medicine and radiopharmaceuticals in terms of usage. The effectiveness of the diagnosis procedure for the early detection of the disease like cancer, cardiac disease is important factor influencing the growth of this market in near future. In 2014, market is dominated by the North America and which is further followed by Europe and Asia Pacific. Furthermore, North America likely to remain dominant due to its increased better infrastructure facility in the healthcare sector, increasing cases of the cancers and cardiac , the increasing advantages that the radiopharmaceuticals have to provide and easy access to radiopharmaceuticals.
Nuclear Medicine/Radiopharmaceuticals Market: Competition
This section of the report highlights the major players operating in the global nuclear medicine and radiopharmaceuticals market. The report also includes some of the leading manufacturers operating in this market such as Sigma Aldrich Corporation, Cardinal Health, Inc., IBA Molecular Imaging, Monrol Nuclear Products and Mallinckrodt Plc.
The study also presents comprehensive analysis of the competitive landscape and key opportunities it could provide during the forecast period from 2015 to 2023
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
- 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.