originally published at Health - Trend Magazine
Nuclear medicines market was valued at $4,116.43 million in 2020, and is projected to reach $8,957.89 billion by 2028, registering a CAGR of 10.4%
PORTLAND, OREGON, UNITED STATES, March 24, 2022 /EINPresswire.com/ — Rise in incidence and prevalence of target conditions, developments in imaging technologies using radiopharmaceuticals, and surge in adoption of SPECT and PET scans have boosted the growth of the Asia-Pacific nuclear medicine market. Moreover, alpha radioimmunotherapy-based targeted cancer treatment supplemented the market growth. However, short half-life of radiopharmaceuticals, supply volatility, logistical challenges, and stringent regulatory policies coupled with competition from conventional alternative diagnostic procedures hinder the market growth. On the contrary, use of radiopharmaceuticals in neurological applications is expected to create lucrative opportunities for the market players in the future.
According to the report published by Allied Market Research, the global Asia-Pacific nuclear medicine market size was valued at $4,116.43 million in 2020, and is projected to reach $8,957.89 million by 2028, registering a CAGR of 10.4% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “increase in the cancer population & surge in incidences of cardiac ailments, higher efficiency of the nuclear medicines for both diagnostics and therapeutics, rise in the advancements in the radiopharmaceuticals segment contribute to the growth of the industry during the forecast period.”
The Covid-19 pandemic presented several challenges such as a disrupted supply chain and shortage of raw materials.
The prolonged lockdown in Asian countries and temporary ban on cross-boarder import-export led to distribution problems.
The Asia-Pacific nuclear medicine market is segmented on the basis of type, modality, application, end user, and country.
Radiopharmaceuticals are those radioisotopes that when bound to biological molecules, are able to target specific tissues, organs, or cells within the human body. These radioactive drugs can be used for the diagnosis and increasingly, for the therapy of diseases. A radiopharmaceutical can be observed as an entity built up having radionuclide and a vehicle molecule with high affinity or binding power toward tissue or a specific function of a human organ. Furthermore, it may comprise only the radioisotope itself if it illustrates suitable biological properties.
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Key Findings Of The Study
By type, the diagnostics segment was the highest contributor to the Asia-Pacific nuclear medicine market in 2020.
By modality, the SPECT segment is anticipated to register highest revenue shares during the forecast period.
By application, the oncology segment is anticipated to gain highest revenue shares in the coming years.
By end user, hospitals & diagnostic centers segment is anticipated to gain highest revenue.
By country, China accounted for the largest revenue share in 2020; while India is anticipated to grow at the highest CAGR during the review period.
The Asia-Pacific nuclear medicine market report includes an in-depth analysis of the prime market players such as Bracco S.P.A. (Bracco Imaging S.P.A.), Bwx Technologies, Inc. (Nordion, Inc.), Cardinal Health, Inc., Danaher Corporation (GE Healthcare), FUJIFILM Toyama Chemical Co., Ltd. (FUJIFILM Holdings Corporation), Ion Beam Applications (Ion Beam Applications, SA), Lantheus Holdings, Inc. (Lantheus Medical Imaging, Inc.), Novartis AG (Advanced Accelerator Applications S.A.), Otsuka Holdings Co., Ltd. (ABX advanced biochemical compounds GmbH), and Siemens Healthcare GmbH.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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originally published at https://thetrendmag.comHealth - Trend Magazine