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2021

Asia-Pacific Nuclear Medicine Market

Asia-Pacific Nuclear Medicine Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Modality, Application and End User : Regional Opportunity Analysis and Industry Forecast, 2021-2028

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Author's: Ravi Telugunta| Stephy Varghese K. | Roshan Deshmukh
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The 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.

Radiopharmaceuticals are pharmaceutical formulations comprising radioactive isotopes that are used in diagnosis and therapeutics. They are simple and small substances that contain a radioactive substance used in the treatment of cancer and cardiac & neurological disorders. More convenient therapeutic radiopharmaceuticals for oncology and cancer treatment replace the conventional chemotherapy methods to open up new avenues in the radiopharmaceuticals market. Moreover, it not only helps physicians during diagnosis, but also works as a convenient and safer alternative for patients as compared to X-Rays and other external radiation imaging devices. Applications such as lymphoma and bone metastasis use radiopharmaceuticals, also known as nuclear medicines. F-18, Tc-99, Ga-67, and I-123 are some of the nuclear medicines used in diagnostic procedures, while I-131, Ir192, Y-90, I-125, Lu-177, and Ra-223 are used in therapeutic procedures.

Asia-Pacific-Nuclear-Medicine-Market

Convenience of treatment with minimally invasive techniques attracts more patients toward the radiopharmaceuticals mode of treatment as compared to chemotherapy. The factors that drive the radiopharmaceuticals industry include increase in incidence of cardiac patients and adoption of clear imaging technique, with the help of diagnostic equipment such as PET and SPECT. The factors that restrain the growth of the market include supply shortages, logistical difficulties, and limited number of trained medical personnel.

Asia-pacific Nuclear Medicine Market Segmentation

The nuclear medicine market is categorized into type, modality, application, end-user and country. On the basis of type, the market is segmented into diagnostics, therapeutics, and biochemistry research. The diagnostics segment led the market in 2020, and is expected to continue this trend throughout the forecast period, owing to the increase in incidence of cardiac patients and clear imaging technique with the help of diagnostic equipment such as PET and SPECT. The surge in prevalence of cancer that require early diagnosis for appropriate treatment expected to be provided in the Asia-Pacific region is projected to help the diagnostics segment gain traction. In addition, the therapeutics segment is expected to gain fastest CAGR during the review period, owing to the introduction of radionuclides and radiopharmaceuticals to treat metastatic bone pain, neuroendocrine, and other tumors.

Asia-Pacific Nuclear Medicine Market
By Type
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The Diagnostics segment is expected to lead the market throughout the forecast period.

By modality, the Asia-Pacific nuclear medicine market is segregated into SPECT, PET, beta emitters, alpha emitters, brachytherapy, and others. The SPECT segment is expected to witness considerable market growth during the forecast period, owing to increase in the demand for the diagnosis of medical problems such as cancer, cardiac, and neurology. Furthermore, getting multiple 2-D and 3-D images that are obtained by performing SPECT imaging technique with the help of gamma camera aids in better access for the physicians. In addition, alpha-emitters are anticipated to gain highest CAGR during the forecast period owing to the greater advantages and the rise in researches over the usage of alpha-emitters for both diagnostic and therapeutic purposes.

By application, the Asia-Pacific nuclear medicine market is segregated into oncology, cardiology, thyroid, neurology, and others. The oncology segment is expected to witness substantial market growth during the forecast period, owing to increase in the population suffering from cancer and advancement of radio-therapeutics, which has expedited the treatment process of cancerous tumors.

By end user, the Asia-Pacific nuclear medicine market is segregated into hospitals & diagnostics centers and research institutes. The hospitals & diagnostic centers segment is expected to witness significant Asia-Pacific nuclear medicine market growth during the forecast period, owing to increased patient flow in the segment and surge in preference toward hospitals & diagnostic centers.

Country wise, the market in China is expected to register the highest revenue share during the forecast period pertaining to the presence of large targeted population base, increase in awareness regarding early diagnosis and therapeutics of cancer and cardiac ailments, and rise in disposable income. Furthermore, India is anticipated to gain the fastest CAGR growth, owing to surge in cancer patient population during the forecast period.

Asia-Pacific Nuclear Medicine Market
By Region
2028
China 
Japan
India
South Korea
Australia
rest of APAC

China segment held a substantial revenue share and gained highest CAGR during the forecast period.

List Of Key Companies

  • 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)
  • Siemens Healthcare GmbH.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the Asia-Pacific nuclear medicine market size along with the current trends and future estimations to elucidate the imminent investment pockets
  • It offers Asia-Pacific nuclear medicine market analysis from 2021 to 2028, which is expected to enable stakeholders to capitalize on the prevailing opportunities in the market
  • A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities
  • The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the Asia-Pacific nuclear medicine market growth

Key Market Segments

By Type

  • Diagnostics
  • Therapeutics
  • Biochemistry Research

By Modality

  • SPECT
  • PET
  • Beta Emitters
  • Alpha Emitters
  • Brachytherapy
  • Others

By Application

  • Oncology
  • Cardiology
  • Thyroid
  • Neurology
  • Others

By End User

  • Hospitals & Diagnostics Centers
  • Research Institutes

By Country

  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific

List of key players profiled in the report

  • 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)
  • Siemens Healthcare GmbH

Asia-Pacific Nuclear Medicine Market Report Highlights

Aspects Details
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By Type
  • Diagnostics
  • Therapeutics
  • Biochemistry Research
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By Modality
  • SPECT
  • PET
  • Beta Emitters
  • Alpha Emitters
  • Brachytherapy
  • Others
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By Application
  • Oncology
  • Cardiology
  • Thyroid
  • Neurology
  • Others
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By End User
  • Hospitals & Diagnostics Centers
  • Research Institutes
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Siemens Healthcare GmbH, Bracco S.P.A. (Bracco Imaging S.P.A.), Novartis AG (Advanced Accelerator Applications S.A.), FUJIFILM Toyama Chemical Co., Ltd. (FUJIFILM Holdings Corporation), Ion Beam Applications (Ion Beam Applications, SA), Bwx Technologies, Inc. (Nordion, Inc.), Cardinal Health, Inc., Otsuka Holdings Co., Ltd. (ABX advanced biochemical compounds GmbH), Danaher Corporation (GE Healthcare), Lantheus Holdings, Inc. (Lantheus Medical Imaging, Inc.)

Analyst Review

The Asia-Pacific nuclear medicines is expected to witness a significant rise with increase in research activities. Ever since its inception, this technology has grabbed the interest of several scientists due to its high accuracy and precision over conventional methods such as medical imaging and its wide range of applications across various fields of research. There are remarkable advancements and some major developments in this field. China dominates radiopharmaceuticals market owing to growth in incidence of cancer, surge in preference for SPECT and PET scans, advances in radiotracers, CVDs, and alpha radioimmunotherapy-based targeted cancer treatment, and rise in awareness about the effective use of radiopharmaceuticals owing to  increase in research activities, outsourcing of research projects and rise in demands for sophisticated health care facilities. 

As per the analysis in the report, the market in India is projected to register the highest growth rate, owing to presence of large population base suffering from cancer or other cardiac ailments, coupled with rise in prevalence of chronic diseases, growth in awareness about wearable patches, and rise in disposable income. India is expected to emerge as a lucrative market in the future supplemented by increase in number of radioisotope approvals for different clinical indications.

Author Name(s) : Ravi Telugunta| Stephy Varghese K. | Roshan Deshmukh
Frequently Asked Questions?

Nuclear medicine is a specialized area of radiology that uses smaller amounts of radioactive materials or radiopharmaceuticals that helps in examining the organ's function and its structure, to ensure the change in its functining due to any acute or chronic condition.

Asia-Pacific nuclear medicine used for the diagnosis and therapeutics of cancer and cardiac ailments

The total value of Asia-Pacific nuclear medicine market was $4,116.43 million in 2020.

The forecast period in the report is from 2020-2028.

The market value of opthalmic devices market in 2028 was $8,957.89 million.

The base year calculated in the report is 2020.

Surge in cancer patients will increase the demand of Asia-Pacific nuclear medicinees, that will drive the market over the near future according to the KOLs.

The market has drawn the interest of the healthcare industry, owing to surge in awareness regarding Asia-Pacific nuclear medicine, increase in number of cancer and the patients suffering from cardiovascular diseases.

By type, the diagnostics segment holds the maximum market share.

The market in China is expected to register lucrative CAGR of 14.0% over the forecast period owing to presence of large targetted population base, increase in awareness regarding Asia-Pacific nuclear medicines, and rise in disposable income

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Asia-Pacific Nuclear Medicine Market

Regional Opportunity Analysis and Industry Forecast, 2021-2028