Nuclear Medicine Therapeutics Market Will Grow at a CAGR of 11.7% by 2030

HYDERABAD, India - Dec. 14, 2022 - PRLog -- Nuclear Medicine Therapeutics Market Size and Future Insights:

According to the report published by USD Analytics, the global Nuclear Medicine Therapeutics market (https://www.usdanalytics.com/industry-reports/nuclear-medicine-therapeutics-market) was valued at USD 2365 billion in 2022 and is expected to reach USD 25.7 billion by 2030, growing at a CAGR of 11.7% between 2023 and 2030.

With a growth in the global elderly population in both emerging and established nations, the number of cardiovascular illnesses has increased. The rising prevalence of cardiovascular disease in the senior population has produced a high demand for nuclear medicine. There has also been an increase in the number of cancer patients worldwide, which is a serious sickness that necessitates the use of nuclear medications. This sort of therapy is extremely significant in the detection and treatment of cancer.

During the forecast period, the number of cancer patients and deaths will increase to 23.3 million. Nuclear medicine plays a significant part in cancer treatment by identifying cancers as well as treating these tumours or cell proliferation. The market is likely to rise over the forecast period due to an increase in the frequency of these types of disorders. Cancer and other sorts of cardiovascular illnesses are now the most important markets for nuclear medicine.

Segmentation Analysis:

By type:

• Alpha Emitters
• Beta Emitters
• Brachytherapy

By Application:

• Oncology
• Cardiology
• Thyroid
• Others

Key Market Players:

Some of the prominent companies contributing to the expansion of the market

• Nordion, Inc
• Bracco Imaging S.P.A
• Jubilant Life Sciences Ltd
• NTP Radioisotopes SOC Ltd
• The Australian Nuclear Science and Technology Organization
• The institute for radio elements

Key Markets Developments:

ü  Noria Therapeutics will be bought by Bayer in 2021 in order to provide a broader cancer portfolio for nuclear medicine. These businesses produce radiopharmaceuticals, which are utilized in illness diagnosis and therapy.

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Regional Insights:

Geographically, the nuclear medicine market segment will have the greatest market share in North America. Because of the existence of many manufacturing units in this region, this market is likely to have a prominent position. The availability of the best healthcare infrastructure in this area, together with the acceptance of treatments involving the use of nuclear medicine, will drive market expansion in the North American region.