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The North American nuclear medicine/radiopharmaceuticals market is poised to reach USD 2.98 billion by 2020 from USD 1.97 billion in 2015, growing at a CAGR of 8.6% during the forecast period of 2015 to 2020.Complete report on North American nuclear medicine/radiopharmaceuticals market spread across 180 pages, profiling 10 companies and supported with 92 tables and 60 figures is now available at http://www.rnrmarketresearch.com/north-american-nuclear-medicineradiopharmaceuticals-stable-isotopes-market-spectpet-radioisotopes-technetium-f-18-betaalpha-radiation-therapy-i131-y-90-applications-canceroncology-market-report.html .
Nuclear medicine is a specialized field of medicine that covers all aspects of the use of radioactive substances, through either injection or ingestion, for the diagnosis or treatment of diseases such as cancer, cardiovascular disease, and neurological diseases. The nuclear medicine/radiopharmaceuticals market is bifurcated into diagnostic and therapeutic segments. Radiopharmaceuticals in the diagnostics market are categorized as SPECT and PET, whereas radiopharmaceuticals in the therapeutics market are categorized as beta emitters, brachytherapy isotopes, and alpha emitters.
In 2015, the diagnostic segment accounted for the largest share of the North American nuclear medicine/radiopharmaceuticals market, by type. Moreover, the SPECT segment is expected to account for the largest share of the North American diagnostic nuclear medicine/radiopharmaceuticals market. This can be attributed to growing cancer patient population, increasing preference for SPECT procedures, advances in SPECT radioisotopes, and cyclotron-based Tc-99m generation. In addition, in 2015, the beta emitters segment is expected to account for the largest share of the North American therapeutic nuclear medicine/radiopharmaceuticals market, owing to heavy funding for research on beta emitters, new therapeutic radioisotopes, and reimbursement policies in favor of using radiopharmaceuticals for cancer therapy.
In 2015, the cardiology application accounts for the largest share of North American nuclear medicine/radiopharmaceuticals market for SPECT applications. This large share can be attributed to new hardware and software designs in SPECT, rising incidence rate of CVDs, and adoption of SPECT in new cardiac applications. The PET market is dominated by oncology applications owing to its accuracy, and preference of PET over conventional imaging. In 2015, the therapeutic market is dominated by thyroid applications. This large share of thyroid applications can be attributed to the factors such as non-invasive method for treatment, and growing incidence of thyroid cancer.
In 2015, U.S.is expected to account for the largest share of the North American nuclear medicine/radiopharmaceuticals market, followed by Canada. The U.S. market is also likely to witness the highest growth rate of the North American nuclear medicine/radiopharmaceuticals market in the coming years. The U.S.’s large share and high growth rate can be attributed to the focus on domestic production of Mo-99, the approval of new radiopharmaceuticals by the FDA in the U.S., FDA approval for alpha emitter, growing focus on therapeutic nuclear medicine as an alternative treatment in oncology, and growing incidence of thyroid cancer.
Some of the key players in the North American nuclear medicine market include Cardinal Health Inc. (U.S.), Mallinckrodt plc (Ireland), GE Healthcare (U.K.), Lantheus Medical Imaging, Inc. (U.S.), Bayer Healthcare (Germany), Bracco Imaging S.p.A (Italy), Eczacibasi-Monrol Nuclear Products (Turkey), Nordion, Inc. (Canada), Advanced Accelerator Applications S.A. (France), and IBA Molecular Imaging (Belgium). Ask for the discount before order a copy of North American Nuclear Medicine/Radiopharmaceuticals Market by Type (Diagnostic (SPECT - Technetium, PET- F-18), Therapeutic (Beta Emitters – I-131, Alpha Emitters, Brachytherapy – Y-90)), by Application (Oncology, Cardiology) - Forecasts to 2020 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=90273 .
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, collaborations, contracts, and partnerships, marketing and promotions, new product launches, expansions, acquisitions, funding and grants, patent coverage extensions, website launches, and license renewals) to increase their market shares and establish a strong foothold in the North American market.
On a related note, another research on European Nuclear Medicine/Radiopharmaceuticals Market Forecasts to 2020 says, in 2015, the diagnostic segment accounts for the largest share of the European nuclear medicine/radiopharmaceuticals market, by type. In 2015, Germany accounts for the largest share of the European nuclear medicine/radiopharmaceuticals market, followed by France, Italy, U.K., Spain, Russia, and the Rest of Europe (RoE). The overall market is valued at USD 1.095 billion in 2015 and is poised to grow at a CAGR of 8.2% during the forecasted period. Companies like Cardinal Health Inc. (U.S.), GE Healthcare (U.K.), Bracco Imaging S.p.A (Italy), Eczacibasi-Monrol Nuclear Products (Turkey), Nordion, Inc. (Canada), Advanced Accelerator Applications S.A. (France), Bayer Healthcare (Germany), Lantheus Medical Imaging, Inc. (U.S.), IBA Molecular Imaging (Belgium), and Mallinckrodt plc (Ireland) have been profiled in this 195 pages research report at http://www.rnrmarketresearch.com/european-nuclear-medicine-radiopharmaceuticals-market-spectpet-radioisotopes-technetium-f-18-betaalpha-radiation-therapy-i131-y-90-applications-canceroncology-cardiac-stable-is-market-report.html .
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