Radiopharmaceutical or Nuclear Medicine Global Market Is Expected to Grow at a Cagr of More Than 5.5 Percent to Reach Around $9 Billion by 2020

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"Nuclear Medicine plays a key role in clinical decision making and is becoming an increasingly popular diagnosis and treatment method for patients. It is one of the advanced molecular imaging technologies that are gaining prominence and radio therapy is expected to dominate in the future with rise in number of emerging alpha radiation therapy.

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Radiopharmaceutical/Nuclear medicine global market is expected to grow at a CAGR of more than 5.5% to reach around $9 billion by 2020. Global radiopharmaceutical market is mainly classified into type (diagnosis & therapeutics), applications and end-users. The global market by diagnosis is further divided into SPECT and PET while therapeutics market is segmented into alpha, beta and brachytherapy. Diagnosis is the largest segment, accounting for more than 85% of global market share in 2013.

The radiopharmaceutical market has been analyzed from both the radiopharmaceuticals processors’ and generator manufacturer’s perspectives. It has been identified that shifting from HEU to LEU is the major strategy in the processors market, while strengthening the supply chain of radiopharmaceuticals is the prime concern for the generator manufacturers. Huge capital investment for the infrastructure and FDA approval for the radio pharmaceuticals are restraining the wide application of nuclear medicine. While short half-life of isotopes and high cost of the medical procedures are hindering the market growth. Even though closure of reactors is a major concern, the availability of Technetium by cyclotrons and accelerators boost the nuclear medicine market growth.

Every year nearly 30 million nuclear imaging procedures are...