The global nuclear medicines market is projected to reach USD 9.7 billion by 2032, with a compound annual growth rate of 6.5% during the forecast period. The increasing incidence of cancer and other chronic diseases worldwide is driving this market growth. Nuclear medicines play a crucial role in the diagnosis and treatment of various conditions, including cancer, cardiovascular diseases, and neurological disorders. The development of advanced nuclear medicine products, such as PET/CT scanners, is further driving market expansion. However, factors like the high cost of nuclear medical products, limited availability of medicinal isotopes, radiation exposure concerns, and stringent regulatory requirements pose challenges to the market's growth. The US FDA predicts an 8% annual growth in the global radiopharmaceuticals market, reaching approximately USD 18 billion by 2024. The diagnostic nuclear medicine segment is expected to dominate the market during the forecast period due to the increasing prevalence of chronic diseases.
Thu, 27 Jul 2023 05:51:27 GMT | Glasgow West End Today