The study involved four major activities in estimating the current size for the North American nuclear medicine market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

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What the Market Looks Like?

[159 Pages Report] The North American nuclear medicine market is expected to reach USD 2.7 billion by 2024 from an estimated USD 2.2 billion in 2019, growing at a CAGR of 4.1% during the forecast period. The US accounted for the largest share of the nuclear medicine market in 2018.

The growth of the market can be attributed to increasing drug discovery activities, the growing biopharmaceutical industry, and the rising trend in outsourcing compound/sample management. The rising drug discovery activity is leading to an increased demand for compounds, which is positively affecting market growth.

By type, the SPECT radiopharmaceutical segment is expected to account for the largest share of the diagnostic nuclear medicine market in 2019

Based on type, the North American nuclear medicine market is categorized into diagnostic and therapeutic nuclear medicine. The diagnostic nuclear medicine segment is further categorized into SPECT and PET radiopharmaceuticals. The SPECT radiopharmaceuticals segment is expected to account for the largest share of the market in 2019. However, the PET radiopharmaceutical segment is projected to register the highest CAGR during the forecast period. Although PET is more expensive than SPECT, advances in PET imaging and the introduction of new PET radiotracers are supporting its growth in the market.

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By application, the PET oncology application segment is expected to account for the largest share of the market in 2019

Based on application, the North American nuclear medicine market is segmented into SPECT, PET, and therapeutic applications. The PET applications segment is further segmented into oncology, cardiology, and neurology, among others. The oncology PET application segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the use of F-18 in PET oncology. F-18 is a major isotope used in oncological applications such as breast cancer and bone metastasis.

By procedural volume assessment, the Tc-99m procedures segment is expected to account for the largest share of the SPECT procedures market in 2019

Based on procedural volume assessment, the North American nuclear medicine market is segmented into SPECT, PET, and therapeutic procedures. The Tc-99m procedural volume segment is expected to account for the largest share of the SPECT procedural volume assessment in 2019. The large share of this segment can be attributed to the increasing use of Tc-99m in diagnostic nuclear medicine procedures.

The US to dominate the market in 2019

The North American nuclear medicine market is segmented into the US and Canada, based on country. The US is expected to account for the largest share and also register the highest CAGR during the forecast period. The growth of this market can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the country

The geographical regions mapped in the report are:

Geographically, the North American market comprises of US and Canada. In 2018, the US accounted for the largest share of the nuclear medicine market. The large share can be attributed to the development of novel technologies for radioisotope production, government funding, and company initiatives in the country.

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Some key players mentioned in the research report are:

Cardinal Health (US), GE Healthcare (US), Curium (France), Lantheus Medical Imaging (US), Bayer AG (Germany), Bracco Imaging (Italy), Eczacýbaþý-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France), and NTP Radioisotopes (South Africa).

Reasons to Buy the Report:

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on the product port folios of top players in the North American nuclear medicine/radiopharmaceuticals market. The report analyzes the North American nuclear medicine/radiopharmaceuticals, by type of isotopes, applications, and country
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the North American nuclear medicine/radiopharmaceuticals market
  • Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various nuclear medicine products, applications, and technologies across countries
  • Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the North American nuclear medicine/radiopharmaceuticals market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the North American nuclear medicine/radiopharmaceuticals market

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