north-america-nuclear-medicine-market-trends-and-forecasts-2014-2020-industry
Published

November 2016

North America Nuclear Medicine Market - Trends and Forecasts (2016 - 2021)

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The North American nuclear medicine market is expected to reach USD 9 billion by the end of 2021, growing at a CAGR of around 11% from 2016 to 2021.

 Nuclear medicine utilizes radioisotopes for application in diagnosis and treatment of diseases. The drugs containing radionuclides are said to be radiopharmaceuticals. Their uses in radiological imaging include Magnetic Resonance Imaging (MRI), Computerized tomography (CT), Positron Emission Tomography (PET) and Single Proton Emission Tomography (SPECT).

North America Nuclear Medicine Market-Market Dynamics

The use of nuclear medicine for diagnostic purposes is gaining importance in North America rapidly. There has been increased use of SPECT, PET, CT and MRI for diagnosis of cardiac diseases, brain diseases, cancer and many others. Nuclear medicine is being used for therapeutic purposes for treatment of Alzheimer’s disease, coronary heart diseases, bone metastasis, different medical conditions affecting the thyroid gland, scar tissue removal, and many cancers. Advancements in diagnostic imaging are bringing in more use of nuclear medicine. Nuclear cardiology has gained huge popularity in North America.

Drivers

Some of the drivers of the North American nuclear medicine market are:

  • Increasing incidence of cancer, thyroidal diseases, endocrinal diseases, and cardiac ailments
  • Rise in applications of SPECT and PET with advancement of technology
  • Growing awareness amongst physicians
  • Public awareness for better healthcare

Restraints

The factors restraining the market are:

  • Short half-life of radiopharmaceuticals
  • High capital investment required for development
  • Stringent regulatory guidelines

Opportunities

North America’s market for nuclear medicine has ample opportunities in the form of:

  • Increasing imaging technologies
  • Potential radioisotopes in the pipeline
  • Increasing neurological applications
  • Increasing cyclotron-based production

The North American nuclear medicine market has been segmented based on type and application. The segmentation based on type of product has been further divided based on diagnostic market and therapeutic market, wherein, the diagnostics market has been further subdivided into SPECT radioisotopes that include Technetium-993, Thallium-201, Iodine-123, Gallium and PET radioisotopes that include Rubidium-82, Flourine-18, and the therapeutics category has been segmented into Alpha emitters (Radium-223), Beta Emitters(includes Iodine-131, Samarium-153, Lutetium-177, Yttrium-90) and Brachytherapy (includes iodine-125, Cesium-131, Palladium-103, & Iridium-192). The segmentation based on application has been similarly subdivided based on diagnostic and therapeutic application. The diagnostic application includes the application of SPECT and PET in Cardiology, Neurology, Oncology and others. The therapeutic applications include application in Oncology, Thyroid, Endocrinology and various other therapeutic areas.

Based on geography, the market has been segmented into the USA, Canada, and Mexico.  Due to high technological advancement coupled with a developed economy, North America has the largest market share globally. In North America, the USA holds the largest market share. The US market is highly supported by the Mo-99 production of NRU reactor (Canada). The nuclear medicine market is slated to grow in the US because of a higher incidence of various forms of cancer and cardiac disorders.

Currently, the diagnostics segment holds the largest share in nuclear medicine market in which again SPECT has the largest share. In the segmentation based on type, the Beta Emitters hold the largest share.

Some of the key players in the market are:

  • IBA Group
  • Lantheus Medical Imaging
  • Mallinckrodt 
  • NTP Radioisotopes
  • Siemens Healthcare (PETNET Solutions)
  • Triad Isotopes

What the Report Offers

  • Market definition for the North American nuclear medicine market along with identification of key drivers and restraints for the market.
  • Market analysis for the North American nuclear medicine market, with region-specific assessments and competition analysis.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market.
  • Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
  • Identification and analysis of the macro and micro factors that affect the North American nuclear medicine market on a regional scale.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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