Nuclear Medicine Market Report to 2031: Visiongain Research Inc
/EIN News/ — Visiongain has released a new report on Nuclear Medicine Market Report 2021-2031: Forecast by Type (Diagnostic (SPECT – Technetium, PET- F-18), by Therapeutic (Beta Emitters – I-131, Alpha Emitters, Brachytherapy – Y-90)), by Application (Oncology, Cardiology). PLUS, Profiles of leading pharmaceutical contract manufacturing companies and regional and national market analysis. MORE, COVID-19 Recovery Scenarios.
Nuclear medicine/radiopharmaceuticals are radioactive compounds administered to the patient and monitored via specific imaging devices for diagnostic and therapeutic purposes.
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A radiopharmaceutical is a drug that can be used for diagnostic or therapeutic purposes. It consists of a radioisotopic bond to an organic molecule. The organic molecule transports the radioisotope to specific organs, tissues or cells.
Short-range particle-emitting radioisotopes are used in therapy because of their ability to lose all their energy over a very short distance. This property is used for therapeutic purposes such as the destruction of cancer cells in the treatment of pain in palliative care for bone cancer or arthritis. These isotopes remain in the body longer than the imaging ones, this is intentional in order to increase the effectiveness of the treatment.
Impact of COVID-19 on the Nuclear Medicine/Radiopharmaceutical Market
The nuclear drug / radiopharmaceutical markets are likely to grow due to the Covid 19 pandemic.
Due to the pandemic, hospitals are operating with overcapacity. The threat is to patients with heart disease and cancers, therefore patients are likely to be diverted to nuclear medicine/radiopharmaceuticals.
Market growth can be divided into factors such as increasing incidence and occurrence of cancers and heart problems.
Radiopharmaceuticals are reducing their potential adoption as hospital budget cuts and high equipment prices are expected to limit the market growth at some point.
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The use of radiopharmaceuticals in neurological applications paves the way for the growth of the nuclear drugs market.
The nuclear medicine market works for the development of new technologies for the production of radioisotopes, government funding and corporate initiatives in the respected country. Major nuclear drug manufacturing companies include: 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), NTP Radioisotopes (South Africa), JSC Isotope (Russia), NorthStar Medical Radioisotopes (USA), Eckert & Ziegler ( Germany), Jubilant DraxImage (Canada), PharmaLogic (USA), Institute of Isotopes Co., Ltd. (Hungary), Sinotau Pharmaceuticals (China), Isotopia Molecular Imaging Limited (Israel), SHINE Medical Technologies (USA) and Global Medical Solutions (USA).
- In 2019, Curium acquired MAP Medical, which will help it strengthen its geographical presence in Europe with direct access to the Nordic and Baltic countries.
- In 2019, Eczacýbaþý-Monrol and Telix Pharmaceuticals Limited (Australia) signed a manufacturing and distribution agreement. According to the signed contract, Eczacýbaþý-Monrol will work as a radiopharmaceutical production partner and distributor in Turkey, the Middle East and North Africa for Telix.
- In 2019, Curium (France) and NRG (Netherlands) signed a contract for the production of Molybdenum-99.
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