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North American Nuclear Medicine Market
North American Nuclear Medicine Market
Dublin, Aug. 26, 2024 (GLOBE NEWSWIRE) — The “North America Nuclear Medicine Market, By Country, Competition, Forecast & Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
The North America Nuclear Medicine market was valued at USD 2.05 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 9.90% through 2029
Nuclear Medicine Market is a dynamic and rapidly evolving sector within the healthcare industry. It encompasses a wide range of diagnostic and therapeutic techniques that utilize radioactive materials (radiopharmaceuticals) to image and treat various medical conditions.
The North America Nuclear Medicine Market is one of the largest and most well-developed markets globally. It includes the United States, Canada, and Mexico, with the United States being the dominant contributor to market revenue. The market has been experiencing steady growth, driven by factors such as the increasing prevalence of chronic diseases, technological advancements, expanding applications of nuclear medicine, and a growing aging population.
Key Market Trends
The prominent trend in the North America Nuclear Medicine market is the ongoing development of advanced radiopharmaceuticals and targeted therapies. These innovations are transforming the way diseases are diagnosed and treated.
Radiopharmaceuticals are continually being refined for improved targeting, reduced radiation exposure to healthy tissues, and enhanced diagnostic accuracy. This trend is especially notable in the development of radiolabeled tracers for PET/CT and SPECT/CT imaging, allowing for more precise disease localization.
Targeted radionuclide therapies, such as Lutetium-177 dotatate for neuroendocrine tumors and Radium-223 for metastatic prostate cancer, are gaining traction. These therapies deliver radiation directly to cancer cells, maximizing treatment efficacy while minimizing side effects.
As research and development efforts continue to focus on radiopharmaceuticals and targeted therapies, the North America Nuclear Medicine market is expected to see increased adoption and expansion into new areas of medicine.
Hybrid Imaging and Artificial Intelligence (AI)
Hybrid imaging systems, such as PET/CT and SPECT/CT, have become increasingly prevalent in the North America Nuclear Medicine market. These systems combine functional nuclear medicine imaging with anatomical CT scans, providing comprehensive diagnostic information.
AI and machine learning are being integrated into nuclear medicine to enhance image processing, interpretation, and decision support. AI-driven algorithms can assist in lesion detection, quantitative analysis, and treatment planning, ultimately improving diagnostic accuracy and efficiency.
The synergy between hybrid imaging and AI technologies allows for more precise disease localization and characterization, making nuclear medicine an invaluable tool for personalized medicine approaches.
The trend toward combining advanced imaging modalities and AI-driven analytics is likely to continue driving market growth by improving diagnostic capabilities and patient outcomes.
Theranostics and Personalized Medicine
Theranostics is a growing trend in the North America Nuclear Medicine market, emphasizing the integration of diagnostics and therapeutics. It involves using the same radiopharmaceuticals for both diagnosis and treatment. Theranostic approaches are particularly evident in the management of cancer. For example, patients can undergo a diagnostic PET scan with a radiolabeled tracer to determine the extent of their cancer. Subsequently, they may receive a targeted radiolabeled therapy based on the same tracer.
Personalized medicine, enabled by theranostics, tailors’ treatment plans to individual patients’ needs and disease characteristics. This approach enhances treatment efficacy while minimizing side effects. As the concept of theranostics gains momentum and more radiopharmaceuticals are developed for this purpose, the North America Nuclear Medicine market is witnessing a shift toward more precise and patient-specific treatments.
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Key Attributes:
Report Attribute
Details
No. of Pages
130
Forecast Period
2023 – 2029
Estimated Market Value (USD) in 2023
$2.05 Billion
Forecasted Market Value (USD) by 2029
$3.62 Billion
Compound Annual Growth Rate
9.9%
Regions Covered
North America
Report Scope:
Key Market Players
Cardinal Health Inc.
Curium North America
GE Healthcare Technologies Inc.
Advanced Accelerator Applications, Inc.
Lantheus Medical Imaging, Inc.
Bayer Corporation.
Molecular Imaging Products, LLC
Nordion Medical Technologies, Inc.
Bracco Diagnostics Inc.
Nuclear Medicine Market, By Type:
Nuclear Medicine Market, By Application:
Oncology
Cardiology
Neurology
Others
Nuclear Medicine Market, By End-User:
Nuclear Medicine Market, By Country:
United States
Canada
Mexico
For more information about this report visit https://www.researchandmarkets.com/r/cdvyyd
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Publish date : 2024-08-25 20:52:00
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