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Nuclear Medicine Diagnostic (SPECT and PET) Market Is Projected To Display A Robust Growth During Forecast Period 2020-2022

Nuclear medicine is a specialty in medical studies that basically uses Radioactive tracers i.e. radiopharmaceuticals in order to monitor the bodily functions and accordingly treat diseases if detected. Based on nuclear medicine, doctors access the path of the radioactive tracers using specially designed photographic cameras. Most commonly used imaging modalities in this study comprise of Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET) scans.

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Market Dynamics
The Global Medicine Diagnostic Market is currently in the growth stage of its lifecycle. The growth of this sector is greatly driven as well as constrained by various factors. Increased use of SPECT, PET as well as many other diagnostic tools (CT, MRI, etc) has been in use for detecting very varied diseases comprising Cardiac, Brain, cancer and other such diseases. Also, the expanded discoveries of new computer procedures along with new TC-99m labeled agents have broadened the image analysis and visualization of biologically significant events. The contributing factor leading to the fast-forwarded growth of the market is its caliber to be used for therapeutic purposes for treatment of Coronary heart diseases, Alzheimer’s disease, bone metastasis and many other such unique diseases. However, the shortened half-life of the radioactive tracers, high capital investments, reimbursement issues and, stringent regulation guidelines turns out to be factors constraining the growth of the Nuclear Medicine market.

Market Segmentation
The Global Nuclear Medicine Diagnostic Market is segmented on the basis of two components namely: Radioisotopes and Application.
– Segmentation based on Radioisotopes includes Technetium-99m (TC-99m), Thallium-201 (TL-201), Iodine (I-123), Fluorine-18, Rubidium-82 (RB-82) and others. In this segmentation, TC-99m has the higher scope in comparison with other associated isotopes.

– And Segmentation based on Application includes cardiology, lymphoma, thyroid, neurology oncology, and others. PET is mostly used in Oncology with Cardiology and Urology as the growing applications whereas for SPECT, Cardiology, Oncology and general imaging like diagnostic areas are of high utilization.

Regional/Geographic Analysis
The Nuclear Medicine Diagnostic Market is divided by geography into Europe, North-America, and Asia-Pacific. The increased dearth of technical experts in hospitals, shortage of radioisotopes as well as increased cost of materials has decreased the growth of the market in price-sensitive economies of Asia-Pacific regions.

The Global Nuclear Medicine Diagnostic Market is currently modulating to hybrid PET-CT and SPECT-CT imaging from PET and SPECT imaging, owing to the widened use of hybrid technologies integrating a varied range of clinical procedures. Among the two, PET-CT imaging acts as the major segment taking into account the specific technological advances while SPECT-CT is accounted by organ-specific diagnostics. The applications and the growth of hybrid imaging will be determined through the availability of various molecular tracers that become majorly specific based on the high specificity and sensitivity of hybrid imaging (mainly PET-MR).

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Key Players
Some of the major players in the market include:
– GE Healthcare
– Nordion
– Hologic Inc.
– Gamma Medica Inc.
– Bracco Pharma
– Siemens Healthcare

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