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The Asia-Pacific Nuclear Medicine Market is Segmented by Products (Diagnostics and Therapeutics), Application, and Geography
The market for nuclear medicine in the Asia-Pacific region is majorly driven by factors such as increasing incidents of cancer and cardiac ailments, rising application of SPECT and PET, and growing public awareness about healthcare.
Increasing incidence of cancer and cardiac ailments is the major driver of the market. Nuclear medicine shows a huge potential in treating cardiac and cancer diseases. According to Cancer Index, it is estimated that 6,763,000 new cases and 4,499,500 deaths occur every year due to cancer in the Asian region. Cardiology applications will continue to demonstrate strong growth in the market.
In addition, the regulatory requirements pose a hurdle to translational research and clinical investigations. For example, in India, all the approvals for nuclear medicine products are given by the Atomic Energy Regulatory Board (AERB), and, including diagnostic radiopharmaceuticals and radio therapeutics, undergo regulatory procedures by AERB. This indicates the focus on regulation of the nuclear medicine which makes the regulation process strict.
As per the scope of the report, nuclear medicine falls under the field of molecular imaging, which involves the use of a very small amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease. In nuclear medicine imaging, the radioisotopes are detected by special types of cameras attached to the computer, which in turn, provide very precise pictures of the area of the body examined.
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The diagnostics segment is segmented into SPECT and PET. PET imaging radioisotopes have many applications in clinical neurology, which involve movement disorders, epilepsy, brain tumors, dementia, stroke, and neuronal plasticity. Future applications include early diagnosis of brain metastases, Parkinson syndromes, and neurodegenerative disorders, such as Alzheimer's disease. The market for radioisotopes is expected to be larger in the developing countries because of the increasing awareness among people about radioisotopes, increasing the incidence of chronic diseases, like cancer, and cardiovascular diseases. Hence, owing to these factors, the market is expected to witness rapid growth in the forecast period.
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There is moderate competition among the players of the Asia-Pacific Nuclear Medicine market. However, this competition is not by virtue of competitive pricing or product differentiation. Additionally, big players of the pharmaceutical and biotechnology industries are leveraging their huge capital reserves to venture into this market, which is further increasing the competition. It is expected that in the coming years, few small to mid-sized companies will penetrate the market and hold a substantial share in the Asia-Pacific region.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Prevalence of Cancer and Cardiac Disorders
4.2.2 Increasing Demand for Biosimilar Drugs Due to Their Cost Effectiveness
4.3 Market Restraints
4.3.1 High Cost of the Diagnostic and Therapeutic Equipment and Procedures
4.3.2 Regulatory Uncertainty
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 By Diagnostics
188.8.131.52 Single Photon Emission Computed Tomography (SPECT)
184.108.40.206 Positron Emission Tomography (PET)
5.1.2 By Therapeutics
220.127.116.11 Alpha Emitters
18.104.22.168 Beta Emitters
5.2 By Application
5.2.4 Other Applications
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 GE Healthcare
6.1.2 Lantheus Medical Imaging, Inc.
6.1.3 Bracco Diagnostic Inc.
6.1.4 Nordion, Inc.
6.1.6 Siemens Healthineers AG
6.1.7 Cardinal Health, Inc.
6.1.8 NTP Radioisotopes
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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