Albany, NY -- (SBWIRE) -- 12/01/2014 -- "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. 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.

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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.

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Every year nearly 30 million nuclear imaging procedures are performed using Technetium (Tc-99). Molybdenum (Mo-99) is the target material for Tc -99 with a half-life of 66 hours and is produced from Uranium (U-235) irradiation in nuclear reactors. The purified Mo-99 is sent to Technetium generators where Tc-99 is produced and sent to hospitals. The Technetium generator market is dominated by two companies Mallinckrodt Plc and Lantheus Medical Imaging Inc.

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The nuclear medicine market by indication is segmented as oncology, cardiology, inflammation, nephrology, neurology, lymphology, thyroid glands, and gastro intestinal. Cardiology holds the largest share in 2013 in SPECT nuclear medicine market whereas nephrology is the fastest growing application of this segment. Increasing incidence of cardiac ailments, aging population, and preference for non invasive diagnostic procedures are driving the market for cardiology segment. Oncology contributes to the largest share of around $1 billion and is also the fastest growing segment in PET market with a CAGR of more than 7%. Nephrology is the fastest growing segment in the therapeutics. Increase in therapeutic application, public awareness, use of hybrid imaging, technological advancements, cyclotron production of radiopharmaceuticals, efficient diagnosis and treatments, emerging radioisotopes and replacement of traditional equipment are factors or opportunities expected to drive the nuclear medicine market. However, stringent regulatory issues, supply shortage, radio toxicity, high cost and huge investment are factors hindering the market growth during the forecasted period.

North America holds the largest share for nuclear medicine market, followed by Europe. The U.S. market is highly supported by the Mo-99 production of NRU reactor (Canada) and ongoing researches in different clinical institutes such as National Cancer Institute, Avid Radiopharmaceuticals and so on. Besides developed markets, the Asia-Pacific region is expected to show a remarkable growth in the coming years. Asia-Pacific (APAC) and Rest of the World are poised to grow at a CAGR of more than 6% and 8% respectively by 2020. This region growth is attributed to aging population, rise in public awareness. Countries like China, India, Australia, and Brazil will be major contributors to the growth of the market.

Understanding the interlinked supply chain was a winning imperative for the market size estimation. Value chain analysis and pipeline analysis have contributed for consolidated market analysis, including the present and future impact of different factors. Demand and supply analysis identifies the potential risk of the interrupted supply of Mo-99 for the Tc-99m production, due to scheduled shutdown of major reactors and the benchmarking trend adopted by leading players to combat such operational difficulties.

Some of the key players contributing at a global level for nuclear medicine market growth are Cardinal Health, Inc. (United States), Cambridge Isotope Laboratories (United States), GE Healthcare (United Kingdom), IBA Group (Belgium) and Lantheus Medical Imaging, Inc. (United Sates).

This report provides in-depth market assessment across the major geographies such as:

- North America
- Europe
- Asia-Pacific (APAC)
- Rest of the World (RoW)

Reasons to Buy:

- Nuclear medicine/Radiopharmaceuticals usage and demand by various end-users across the globe
- Emerging isotopes as well as alternative isotopes for use both in the SPECT and PET segments
- Emerging applications in Nuclear Medicine
- Regulations and Reimbursement scenario
- Stable isotopes study being a value addition
- Competitive landscaping and Major player profiles

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