The global nuclear medicine therapeutic alpha beta emitter’s brachytherapy market size was valued at USD 6.1 billion in 2019 and is projected to expand at a significant CAGR during the forecast period. Growth of the market is attributed to increased frequency of cancer & heart diseases, as well as the growing need for image-guided treatments and diagnostics.
Certain diseases are diagnosed and treated using nuclear medicine methods. Radiopharmaceuticals are radioactive materials used in these treatments. Hyperthyroidism, thyroid cancer, lymphomas, and cancer-related bone pain are illnesses that can be treated using nuclear medicine treatments.
When compared to chemotherapy, the ease of treatment with minimally invasive techniques draws more patients to radiopharmaceuticals. The increasing incidences of cardiac patients, as well as the adoption of clear imaging techniques using diagnostic equipment such as PET and SPECT, are driving factors in the radiopharmaceuticals industry.
The Covid-19 has had a beneficial influence on the market. People with cardiovascular problems had the worst hit by the coronavirus. It has resulted in a rise in demand for nuclear medicine, which is highly successful at identifying certain illnesses. The use of nuclear medicines has grown as the necessity for precise diagnosis has increased with the rising number of positive cases. Coronavirus has a lethal effect on the respiratory system, thus nuclear medications can be utilized to treat and diagnose respiratory system disorders.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing intensity of cancer and heart diseases, as well as the growing need for image-guided treatments and diagnostics is expected to fuel the market during the forecast period.
- Increasing availability of efficient diagnostics and treatment techniques is a key factor propelling the market.
- High cost of medicines is anticipated to hamper the market growth.
- Strict laws and restrictions for authorizing new items act as major challenge that can hinder the market expansion during the forecast period.
- Rising demand from emerging countries, forthcoming radioisotopes, and expanding utilization across neurological applications are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the global nuclear medicine therapeutic alpha beta emitter’s brachytherapy 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 Therapeutic Alpha Beta Emitters Brachytherapy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2021
|
|
Historic Data
|
2019–2020
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Alpha Emitters, Beta Emitters, and Brachytherapy
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
IBA Radiopharma Solutions; Bayer AG; Alpha Tau Medical Ltd; Actinium Pharmaceutical Inc.; and Jubilant Life Sciences Co
|
Market Segment Insights:
The alpha emitters segment holds a major market share
Based on types, the global nuclear medicine therapeutic alpha beta emitters’ brachytherapy market is segregated into alpha emitters, beta emitters, and brachytherapy. Alpha-emitters are radionuclides that decay by emitting high linear energy transfer -particles and have promising pharmacologic profiles for cancer treatment. Numerous studies have shown that targeted -therapy is effective in vitro and in vivo.
The cardiology segment is expected to grow at a rapid pace
On the basis of applications, the nuclear medicine therapeutic alpha beta emitter’s brachytherapy market is segregated into oncology, cardiology, thyroid, and others. The cardiology segment is expected to represent a key share of the market during the forecast period. Cardiology is a medical specialty and a subspecialty of internal medicine that deals with cardiac problems. It includes diseases such as congenital heart defects, coronary artery disease, electrophysiology, heart failure, and valvular heart disease, as well as its diagnosis and treatment. Nuclear imaging is a technique for diagnosing and treating diseases such as heart disease, cancer, and brain problems that involves injecting a small quantity of radioactive particle and measuring the response using external detectors like gamma cameras. According to WHO estimates, 17.9 million people died in 2016 due to cardiovascular disease (CVD). As a result of rising number of cardiac illnesses, the category is projected to drive the market.
The market in North America is projected to hold a major market share
In terms of regions, the global nuclear medicine therapeutic alpha beta emitters brachytherapy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during forecast period. Cancer is one of the most common diseases in the countries such as the US and Canada. The US and Canada have developed well-structured health-care systems. As a result, these systems promote research and development. These policies encourage global players to invest in the United States and Canada.
Segments
Segments Covered in the Report
The global nuclear medicine therapeutic alpha beta emitters’ brachytherapy market is segmented on the basis of
Types
- Alpha Emitters
- Beta Emitters
- Brachytherapy
Applications
- Oncology
- Cardiology
- Thyroid
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- IBA Radiopharma Solutions
- Bayer AG
- Alpha Tau Medical Ltd
- Actinium Pharmaceutical Inc.
- Jubilant Life Sciences Co
Competitive Landscape
Major players competing in the nuclear medicine therapeutic alpha beta emitters’ brachytherapy market include IBA Radiopharma Solutions, Bayer AG, Alpha Tau Medical Ltd, Actinium Pharmaceutical Inc., and Jubilant Life Sciences Co.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
