Asia Pacific Nuclear Medicine Market Outlook 2031
The Asia Pacific nuclear medicine market size was USD 5.01 Billion in 2022 and is projected to reach USD 12.21 Billion by 2031 register a significant CAGR 10.4% during the forecast period, 2023–2031. The growth of the market is attributed to the high incidences of cancer & heart diseases and rising public knowledge about advanced healthcare system.
Nuclear medicine is a subset of molecular imaging primarily designed for diagnosing and treating of various diseases associated with cancer. It involves a procedure that use certain radioactive materials, also known as radiopharmaceuticals, to allow thorough examination of the conditions and functions of certain organs affected by cancer.
This procedure is widely applied for treatment and diagnosis of some of the major cancer-originated diseases such as bone pain, thyroid cancer, hyperthyroidism, and lymphomas. The medicine can be administered in multiple ways but are widely done either invasive or oral modes. The radioisotopes are normally detected by nuclear medicine imaging, which is equipped with particular types of cameras linked to the computer that can offer accurate and high definition images of the targeted area of the body.
Asia Pacific Nuclear Medicine Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for biosimilar drugs as they are becoming more popular as a result of their low cost and wide availability. This is projected to drive the market in the coming years.
- Rising prevalence of cancer and heart disorders among a large number of the population is expected to boost the market.
- High number of the ageing population in the region along with growing awareness for several advanced treatment methods for several diseases is another key driver of the market.
- Expensive diagnostic & therapeutic procedures using the imaging equipment is a major challenge that can hamper the market expansion during the projected period.
- Uncertainty in the regulatory environment is another key restraining factor of the market.
- Ongoing R&D programs and governments’ initiatives for healthcare system development in the region prove to be key opportunities for the market expansion.
Scope of The Asia Pacific Nuclear Medicine Market Report
The report on the Asia Pacific nuclear medicine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Nuclear Medicine Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Products (Diagnostics [Positron Emission Tomography and Single Photon Emission Computed Tomography] and Therapeutics [Brachytherapy, Alpha Emitters, and Beta Emitters]) and Applications (Oncology, Neurology, Cardiology, and Others)
|
|
Geographical Scope
|
China, Japan, India, Australia, South Korea, and Rest of Asia Pacific
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
GE Healthcare; Curium SAS; Cardinal Health; Bracco Diagnostic Inc.; and Lantheus Medical Imaging
|
Asia Pacific Nuclear Medicine Market Segment Insights
Diagnostics segment is expected to grow at a rapid pace
Based on products, the Asia Pacific nuclear medicine market is bifurcated into diagnostics and therapeutics. The diagnostics segment is further divided into positron emission tomography (PET) and single photon emission computed tomography (SPECT) while the therapeutics segment is sub-classified as brachytherapy, alpha emitters, and beta emitters.
The diagnostics segment is expected to grow at a rapid pace during the forecast period due to the wide use of PET radioisotopes for diagnosis of the movement disorders, epilepsy, brain malignancies, dementia, stroke, and neural plasticity. Early detection of brain metastases, Parkinson syndromes, and neurodegenerative illnesses such as Alzheimer's disease is commonly conducted using the nuclear medicine methods.
Cardiology segment is projected to expand at a considerable CAGR
On the basis of applications, the market is segregated into oncology, neurology, cardiology, and others. The cardiology segment is projected to expand at a considerable CAGR during the forecast period due to wide prevalence of cardiovascular diseases (CVDs) and rising occurrence of cardiac arrest. The cardiac nuclear medicine tests produce images of blood flow distribution to the heart muscle and can be used to assess heart function.
This approach can be used to diagnose angina, aneurysms, atherosclerosis, stroke, coronary artery disease, and congestive heart failure, which are derivatives of cardiovascular illnesses. It is also used to assess cardiomyopathy and detect cardiac damage caused by chemotherapy or radiotherapy. The main imaging instruments utilized in cardiac operations are gamma cameras and positron emission tomography scanners, while the SPECT imaging is primarily considered to be the gold standard for nuclear cardiology operations across the world.
China and India are anticipated to constitute a key market share
In terms of geography, the Asia Pacific nuclear medicine market is classified as China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. China and India are major economies in the region that held a large market share in 2020 and are anticipated to constitute a key market share in the coming years. Significant increase in the number of the ageing population and wide incidences of chronic illness such as CVDs among a large number of the population in these two countries.
Additionally, growing awareness about cancer and its requirement for sophisticated technology such as nuclear imaging for the treatment present another key driver of the regional market growth.
Segments
The Asia Pacific nuclear medicine market has been segmented on the basis of
Products
- Positron Emission Tomography
- Single Photon Emission Computed Tomography
- Brachytherapy
- Alpha Emitters
- Beta Emitters
Application
- Oncology
- Neurology
- Cardiology
- Others
Geographical Scope
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Key Players
Competitive Landscape
Key players competing in the Asia Pacific nuclear medicine market are GE Healthcare; Curium SAS; Cardinal Health; Bracco Diagnostic Inc.; and Lantheus Medical Imaging. Some of the key players are constantly implementing several marketing strategies such as merge & acquisitions, capital investments, partnerships, and new product development to expand their consumer base worldwide.
Request For Customization
Enquiry Before Buying
Speak With Analyst
