Inflammatory Bowel Disease Treatment Market to Witness Widespread Expansion During 2020-2027

 The inflammatory bowel disease treatment market size is expected to register a CAGR of 2.5% during the forecast period. Inflammatory bowel disease is characterized by chronic inflammation of the digestive tract. It is an umbrella term for ulcerative colitis and Crohn’s disease. The market for inflammatory bowel disease treatment is growing worldwide due to factors such as the increasing prevalence of ulcerative colitis and Crohn’s disease, advances in medical technology, government support for inflammatory bowel disease treatment research, and the ubiquity of anxiety and depression. Moreover, increasing number of drugs in clinical trial and growing popularity of prebiotic and probiotic foods is likely to spur market growth. However, high capital investments required for drug discovery, unsatisfactory effectiveness of treatment, and stringent drug regulatory policies are restraining the growth of the inflammatory bowel disease treatment market.

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Regional Analysis

The Americas is expected to be the largest market for inflammatory bowel disease treatment owing to the increasing prevalence of anxiety and rising incidences of ulcerative colitis and Crohn’s disease. The Centers for Disease Control and Prevention (CDC) has stated that about 1.3% of US adults (3 million) were diagnosed with IBD, either Crohn’s disease or ulcerative colitis, in 2015. Thus, the increasing patient pool will propel market growth during the forecast period. Furthermore, the rising awareness about fitness, presence of key players, and availability of good healthcare infrastructure are likely to fuel the growth of inflammatory bowel disease treatment market.

Europe was the second-largest market for inflammatory bowel disease treatment in 2017 and is expected to register a steady growth rate during the forecast period. This can be attributed to the increasing prevalence of inflammatory bowel disease caused by a rising rate of alcohol abuse in adults, unhealthy lifestyle habits, and prevalence of anxiety and depression in adults. Additionally, factors such as the increasing number of government initiatives and funding for research and development in advanced medical treatment options and the presence of established healthcare infrastructure are likely to propel the growth of the inflammatory bowel disease treatment market in Europe.

 Asia-Pacific is expected to be the fastest-growing inflammatory bowel disease treatment market due to the exponential rise in patient population. The rising number of patients diagnosed with anxiety and depression, the increasing abuse of alcohol, and sedentary lifestyles are expected to result in a greater number of patients afflicted with inflammatory bowel disease, thus driving the demand for treatment. Furthermore, friendly drug-regulatory policies and government initiatives for healthcare reform in the region will propel market growth during the forecast period.

The market in the Middle East & Africa is expected to grow at the slowest rate due to the lack of awareness about the disease, limited access to and availability of treatment facilities, and the prevalence of inflammatory bowel disease.

Segmentation

The global inflammatory bowel disease treatment market has been segmented on the basis of drug class, disease indication, distribution channel, and end-user. Based on drug class, the market has been segmented into TNF inhibitors, aminosalicylates, immunomodulators, and corticosteroids.

By disease indication, the market has been segmented into ulcerative colitis and Crohn’s disease.

Based on distribution channel, the market has been segmented into hospital pharmacy, retail pharmacy, and online pharmacy.

By end-user, the market has been segmented into hospitals and clinics and others.

Based on region, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has been further segmented into North America and South America. The European market has been further divided into Western Europe and Eastern Europe

Key Players

Market Research Future (MRFR) recognizes  Abbott Laboratories, Valeant Pharmaceuticals International, Novartis AG, Janssen Biotech, Inc., Alkem Laboratories Limited, AbbVie, Inc., UCB Inc, Takeda Pharmaceutical Company Limited, Biogen Inc., Pfizer Inc., and Allergan plc as the key players in the global inflammatory bowel disease treatment market.

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Surgical Stapler Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

 The Global Surgical Stapler Market is expected to grow during the forecast period (2018 to 2023) at a CAGR approx. 7.2 %.

A surgical stapler is a complex mechanical medical device that has been present in the market for years and is mature in technology. Surgical staplers are used in various surgeries such as gastrointestinal, gynecologic, thoracic, and many other surgeries to remove the part of organ and tissues. This surgical stapler reduces the time of surgical procedure. The global surgical stapler market is increasing due to increasing surgical procedures, the introduction of technologically advanced surgical staplers, and growing number of bariatric and other weight loss surgeries. However, due to increasing aesthetic surgeries, breast surgeries, surgical technology, and pediatric surgical procedures, the surgical stapler market size is expected to grow in the future.  

However, the high cost of treatment, misuse of funding, and lack of awareness are some of the factors which are expected to hamper the growth of the market during the forecast period.

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North America will dominate the surgical stapler market during the forecast period. Technological advancements, growing geriatric population, and rising number of surgical procedures are likely to drive the surgical stapler market during the forecast period. North America and Europe are expected to hold a major share of around 70% of the surgical stapler market during the forecast period. The European market is expected to be the second-largest surgical stapler market. The market growth in this region can be attributed to the increasing awareness and adoption of advanced surgical technology. Asia-Pacific is expected to be the fastest-growing surgical stapler market during the forecast period owing to the increasing prevalence of cardiac diseases, rising investments in healthcare, increasing geriatric population, and expansions by market players in the region. Asia-Pacific is giving strong competition to the global surgical stapler market by producing cost-effective treatments that are high in demand in local as well as global markets. The market in the Middle East and Africa is expected to account for the smallest surgical stapler market share in the global market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

Segmentation

The global surgical stapler market is segmented into types, product, application, and end-users. Based on types the surgical stapler market is segmented into disposable surgical staplers and reusable surgical staplers. On the basis of product, the market is segmented into manual surgical staplers and powered surgical staplers. Based on application, the surgical stapler market is segmented into abdominal and pelvic surgery, general surgery, cardiac and thoracic surgery, orthopedic surgery, and other surgical applications. Based on end-user the market is segmented into hospitals, ambulatory surgical centers (ASCs), and clinics.

Key Players

Some of the key players in the global surgical stapler market are  Ethicon. US, LLC., Cardica Inc, Smith and Nephew Plc, CONMED Corporation, Purple Surgical Inc., Welfare Medical Ltd, Reach Surgical, Grena Ltd, B.Braun Melsungen AG, Frankenman International Limited, Zimmer Biomet, Stryker, Meril Life Sciences Pvt. Ltd., Touchstone International Medical Science Co. Ltd, Medtronic.

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Global Gastritis Treatment Market Industry Production and Demand, Competition News and Trends Forecasts to 2027

 The upcoming gastritis treatment market trends expected to exhibit a robust growth rate during the forecast period. Gastritis is characterized by a set of conditions that cause inflammation or irritation of the lining of the stomach, for a short or long time. Upper abdominal pain or discomfort is the most common symptom of Gastritis.  Gastritis has been broadly categorized into three segments, namely, acute gastritis, chronic gastritis, and erosion of metaplasia or atrophic gastritis. The market for gastritis treatment is expanding worldwide due to drivers such as increasing occurrence of acute and chronic gastritis, advances in the area of medical technologies, increasing fast food chains worldwide, massive adoption of a sedentary lifestyle, and advancement in endoscopy devices that increased the accuracy of diagnosis. Moreover, chronic gastritis patients, rely on acidity reducing medicines for a lifetime, thus fueling the market demand which in turn would boost up the market growth. However, unaffordability and lack of advanced medical device technology in middle-income countries are likely to hamper the market growth.

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Market Segmentation                                                                                                                          

The global gastritis treatment market is segmented on the basis of diagnosis, treatment type, drug distribution channel, and end-users.

Considering the diagnosis, the market is segmented into blood test, endoscopy, x-ray of the upper digestive system and others.

By treatment type, the market is segmented into acid-blocking medicines, antibiotics, antacids, and histamine blockers.

With reference to the drug distribution channel, the market is segmented into retail pharmacy, online pharmacy, and hospital pharmacy.

On account of end-users, the market is segmented hospitals & clinics and others.

Based on region the market is segmented into Americas, Europe, Asia-Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.

Regional Market Summary

The Americas is going to account for the largest share for gastritis treatment market. Drivers such as widespread of fast food chains in this region along with the increasing sedentary life culture which in turn contributes to increasing patient pool of gastritis and rising geriatric population are likely to enhance the growth of gastritis treatment market. Moreover, rising alcohol abuse, the presence of prominent key players is likely to spur the market growth.  For instance, According to a published survey, approximately 1 in 100 is a victim of gastritis in the US. Thus, this increasing patient pool will enhance the market growth during the forecasted period. Additionally, factors such as increasing government initiatives and funding for research, development in advanced medical treatment options, and availability of favorable reimbursement policies are likely to propel the growth of gastritis treatment market in the American region. Furthermore, according to CMS (Centers for Medicare and Medicaid Services) US health care spending increased 4.3 percent to reach USD 3.3 trillion per person in 2016. Thus, the increasing per capita income of individuals, as well as rising healthcare spending, will aid up the market growth of the Americas.

Europe is the second market leader and holds a healthy share in the global gastritis treatment market. The European market is expected to exhibit a sturdy growth rate during the forecast period owing to the availability of advanced treatment facilities, established healthcare infrastructure along with the presence of a flourishing medical device market which helps in efficient and accurate diagnosis. Furthermore, due to the increasing number of lactose-intolerant issues, vulnerability to falling prey of gastritis is more likely to lead to an increasing number of gastritis sufferers. Thus, fueling the market growth during the forecast period.

Asia-Pacific is expected to be the fastest emerging market owing to increasing government initiatives for healthcare reform, increasing adaption of a sedentary lifestyle, and increasing prevalence of gastritis. Moreover, the prevalence of multifocal atrophic gastritis and gastric adenocarcinomas is high in these regions. Furthermore, the presence of renowned domestic pharmaceutical players, as well as the increasing healthcare spending per capita, is going to accelerate the market growth during the forecast period.

The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates is the largest market share owing to the development of healthcare industry and rising availability of specialty care centers. With an increasing number of gastrointestinal disorders region in this region, many key players are willing to set up their research and development centers to find a cure for these diseases. Moreover, the government is aiming at improving the healthcare infrastructure. Thus, a steady growth rate might be seen during the forecast period.

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ePharmacy Market: Drivers, Restraints, Opportunities, and Threats (2020-2027)

 The restrictions created by the COVID pandemic created a promising situation for the development of the ePharmacy market. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market is predicted to achieve development with a CAGR of 12.5% by 2027.

The enhancement of distribution chains associated with pharmaceutical drugs is predicted to create impetus in the forecast period's ePharmacy market. The cost advantages are estimated to further promote the advancement of the ePharmacy market in the coming period.

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Segmental Analysis

The segmental appraisal of the ePharmacy market is carried out on the basis of drug type, operating platform, business model and region. The region segment of the epharmacy market consists of the Americas, the Middle East, Europe, Asia Pacific, and Africa. The business model segment of the epharmacy market consists of the pharmacy, marketplace, and direct. The operating platform segment of the epharmacy market consists of websites and apps. The drug type segment of the epharmacy market consists of over-the-counter (OTC) drugs and prescription drugs.

Detailed Regional Analysis 

The regional overview of the ePharmacy market includes regions such as the Americas, the Middle East, Europe, Asia Pacific, and Africa. The Americas ePharmacy market is likely to dominate the global market due to the incidence of main manufacturers, raising understanding, and intensifying product introductions by major companies in the region. The European regional market held an extensive share in the ePharmacy market. The regional market in Europe is anticipated to be boosted throughout the forecast period due to factors such as collective online directives, the quick upsurge in e-commerce, an upsurge in the elderly population, rising pervasiveness of chronic illnesses, and well-developed IT set-ups. The speedy development of the Asia Pacific region's ePharmacy market is due to mounting diabetes cases and the augmenting per capita income and government proposals to develop the value of healthcare services. The ePharmacy market development in the Middle Eastern & African region can be accredited to the emerging healthcare organization, innovative public-private partnerships (PPP) business pattern, and government backing.

Competitive Analysis

The surge in innovation and resynchronization of the operation and distribution cycle is estimated to create a constructive situation for the overall market's future. The use of online channels is estimated to gain more precedence as the market comes to terms with the new business realities. The rise in acquisitions and mergers is estimated to recreate an encouraging environment for the players, leading to several new product offerings. The market is estimated to move forward with caution due to the experiences gained during the pandemic. The government support is estimated to have a positive scope for the development in several key areas of the global market. The promotion of international trade is predicted to create a promising overall effect on the market, with many companies choosing this period to test new and untapped markets. The advancement in the global distribution chains is estimated to further enrich the market's progress in the coming period.

The notable companies in the ePharmacy Market are Baxter International INC, Smith & Nephew Plc, ConvaTec Group Plc, 3M, Integra Lifesciences Holdings Corporation, Cardinal Health, Coloplast Corp., B. Braun Melsungen AG, Mölnlycke Health Care AB and Avery Dennison Corporation.

Industry Updates:

Apr 2021 Shop Apotheke Europe, a Netherlands-based online pharmacy business, has declared the purchase of MedApp Holding, which consists of MedApp Nederland and MedApp Apotheek. Shop Apotheke Europe has purchased 100 % of the shares from the creators of MedApp and investors counting Health Innovation Fund III. With this expansion, Shop Apotheke Europe intends to reinforce its venture in its home nation, the Netherlands. Presently, the e-pharmacy company is working in the Netherlands through its product Farmaline that presents beauty and personal care products. The purchase of MedApp permits Shop Apotheke Europe to additionally develop into the area of prescription medicines (Rx) in the Dutch market.

Apr 2021 A business owned by the topmost Indian drug makers via a joint venture has agreed to obtain market research company AIOCD Pharmasofttech AWACS and business-to-business marketplace Pharmarack Technologies, in a phase towards developing the IT infrastructure and supply chain essential for pharmaceutical delivery. The pharma group had selected KPMG to develop a strategy on creating an online pharma distribution business and use the foundation of retailers this firm works with to start retailing to customers through an online pharmacy platform.

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Patient Handling Equipment Market – Functional Survey 2027

 Market Research Future (MRFR) expects the patient handling equipment market to attain a valuation of USD 15,430.18 Million by 2027. MRFR also anticipates the market to thrive at a rate of 8.3% over the forecast period (2020-2027).

Key Players Locking Horns:

The patient handling equipment industry is rife with a number of players indulging in intense competition. Many of these companies are focused on carrying out extensive research and development activities to introduce new products that have multiple applications. Leading companies also adopt a number of organic as well as inorganic growth tactics, such as mergers & acquisitions, innovative product launches and expansions to enhance their share in the global industry.

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Malvestio Spa (Italy), Stryker (US), Invacare Corporation (US), Handicare (Sweden), GF Health Products, Inc. (US), Arjo (Sweden), Joerns Healthcare LLC (US), Prism Medical UK (UK), McAuley Medical, Inc. (US), Etac AB (Sweden), EZ Way, Inc. (US), LINET (Czech Republic), Savaria (Canada), Medline Industries, Inc. (US), Ossenberg GmbH (Germany), Stiegelmeyer GmbH & Co. KG (Germany), Hill-Rom Services Inc. (US) are some of the most renowned vendors in the global market.

Future Growth Boosters:

Governments are increasingly laying down guidelines and regulations pertaining to manual handling in healthcare, which are expected to be followed diligently and can help boost the demand for patient handling equipment in the near future. For instance, the National Institute of Occupational Safety & Health’s regulations with respect to the lifting equation with Recommended Weight Limit (RWL) help ensure that the patients are effectively handled, and the caregivers are not subjected to any risk of injury.

Furthermore, rising burden of disabilities worldwide combined with the growth of the elderly population prone to a number of disorders should foster the sales of patient handling equipment in the following years. The World Health Organization reported in 2014 that out of the total number of diseases in 2021, close to 1.18 million patients will be afflicted with some form of disability while the number by 2031 will reach 1.43 million patients. It is also expected that the frequent introduction of technical enhanced and safe device or equipment that are easy to operate by the caregivers, while also helping avoiding MSDs should work in the favor of the global market.

Segmentation:

Product, application and end-user are the top market segments listed in the MRFR report.

Product-based key segments are bathroom & toilet assist equipment, stretchers & transport chairs, ambulatory aids, patient transfer devices, wheelchairs & mobility scooters, medical beds, and others.  Patient transfer devices stand as the leading segment in the market on account of the growing prevalence of obesity worldwide. Meanwhile, medical beds are generating robust demand as well, with electric beds, semi-electric beds and manual beds gaining high traction.

Applications of patient handling equipment include mobility assistance, long term care, acute & critical care, and more. Acute & critical care segment is most likely to attain the top spot, in view of the significant increase in the rate of viral infections, cardiovascular diseases, and various acute diseases. Long term care segment can procure the fastest growth rate, owing to the significant burden of target diseases like tetanus, Alzheimer’s disease, tuberculosis, and others.

Major industry end-users are hospitals, home care settings and others. Hospitals segment is in the lead, in line with the developments in healthcare infrastructure along with the surge in healthcare spending.

Regional Status:

Europe, Americas, MEA or Middle East & Africa and Asia Pacific or APAC are the major regions that have been focused on in the MRFR report to analyze the growth prospects of the global market.

The lead has been taken by the American market, in view of the escalating obesity cases, in addition to various other chronic diseases. Heightened preference for home care equipment, expanding geriatric population, and favorable government aid in developing medical infrastructure can further benefit the patient handling equipment market in the region. Another growth rendering aspect has been the surge in musculoskeletal disorder rate in the region, which also bolsters the product demand.

Europe stands as the second most lucrative market for patient handling equipment, thanks to the significant number of research and development activities taking place in the region, backed by large-scale investments. Europe further benefits from the presence of a huge number of well-equipped medical facilities, skilled professionals, and the soaring demand for improved healthcare services. Supportive standards pertaining to patient safety and the surging prevalence of lifestyle and chronic diseases also add to the value of the patient handling equipment market in the region.

The APAC market should continue to soar rapidly and attain the fastest growth rate during the evaluation period. Some of the key growth boosters include the mounting cases of MSD-caused injuries, expanding older population and the improvement in the healthcare infrastructure. Substantial prominence of chronic ailments in the region also fosters growth. A number of countries have imposed policies regarding safe handling to avoid injury to caregivers while lifting patients. This has encouraged the adoption of patient handling equipment in the healthcare industry. Moreover, the fast economic growth of China, India, as well as Southeast Asia has prompted global players to invest significantly in this region, presenting attractive opportunities.

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Clinical Laboratory Services Market – Insights on Upcoming Trends 2027

 Market Overview

MRFR reports that the clinical laboratory services market is likely to exhibit a sound growth rate during the forecast period (2018-2023 and surpass a valuation of USD 274.40 billion by 2023. 

Market Dynamics

The rising pressure of chronic diseases such as cancer, diabetes, and others is expected to drive the global market's growth trajectory in the coming years. The need for early diagnosis has increased as people become more knowledgeable of diseases. This has resulted in a significant growth in preventive healthcare spending. Throughout the forecast period, it is expected to fuel the growth of the clinical laboratory services industry. It is proposed that funds will be focused toward the production of advanced experiments of greater precision and accuracy. Rapid advancements in the healthcare industry, along with robust research and growth, are expected to propel the market forward in the near future.

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Clinical laboratory services are in high demand as a result of the healthcare costs and increasing awareness of these services. North America is a crucial market for these programmes, with attractive growth prospects for market participants. Furthermore, North America's medicinal laboratory services industry is benefiting from advanced healthcare technology and broad supply of lab specialists and technicians.

Strong government investments to expand clinic use of COVID-19 diagnostic kits are expected to fuel segment development. COVID-19 walk-in clinics in San Jose are another important initiative that is supposed to boost segment growth. Furthermore, gradual and groundbreaking improvements in laboratory research technologies are projected to serve as a high effect rendering engine for this market.

The data management method in laboratories has been greatly changed thanks to automation in clinical environments. Throughout the forecast era, the industry is projected to benefit from increasing adoption rates of laboratory automation systems. Furthermore, the healthcare industry has provided database management software, patient test reports, and advanced workflow management systems substantial consideration.

Market Segmentation

A detailed segmental analysis of the global clinical laboratory services market based on type and application.

By type, the market is segmented into biochemistry, endocrinology, microbiology, hematology, histopathology, cytology, genetic testing, and others. In 2017, the haematology division accounted for 25.6 percent of the industry. It is expected to preserve its supremacy throughout the projected era. The high prevalence of blood cancer can be blamed for the segment's rise.

By application, the global clinical laboratory services market has been segmented into independent laboratory, reference laboratory, and hospital laboratory. Over the evaluation timeframe, the hospital laboratory segment is expected to lead the global market. By the end of 2023, the segment's value is expected to reach USD 185.98 billion. The clinical laboratory services market is expected to expand in the near future due to factors such as the availability of various tests and attractive reimbursement policies for tests in the segment.

Regional Analysis

The global clinical laboratory services market is divided into four regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa. In 2017, the Americas accounted for the largest share of the industry, and it is projected to rise dramatically in the coming years. Favorable reimbursement policies, the expansion of clinical laboratories, and the growing number of lab technicians are all factors that are expected to help the growth of the clinical laboratory services market in the area. By the end of 2023, the industry is expected to be worth USD 108,913 Mn, according to estimates.

Europe is a significant growth region that is expected to take second position in the global economy. Because of the involvement of major prominent main players, rising healthcare spending, the number of clinical tests, and other factors, the market's competitive environment is conducive to development. By the end of 2023, the Middle East and Africa is estimated to be worth USD 14,067 million.

Over the forecast period, Asia Pacific is projected to be the fastest growing regional market. The market's expansion would be supported by the region's high growth prospects. During the forecast period, it is projected to rise at a CAGR of 5%. The growing prevalence of diseases such as cancer and diabetes, among others, is propelling market growth in the region.

Competitive Landscape

Some of the prominent players operating in the global clinical laboratory services market are Mayo Medical Laboratories, Quest Diagnostics Incorporated, Spectra Laboratories Inc, Laboratory Corporation of America Holdings, Eurofins Scientific, Unilabs, Bio-Reference Laboratories, Synlab International, Sonic Healthcare, ACM Medical Laboratory, Cerba Healthcare, Clinical Reference Laboratory, Amedes Holdings, Adicon Clinical Laboratory, and Lifelabs Medicals Laboratories.

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Nuclear Medicine Market: Recent Industry Trends and Projected Industry Growth, 2020– 2027

 Market Overview

The global nuclear medicine market is expected to develop at a CAGR of 6.2 percent from 2018 to 2023, according to Market Research Future (MRFR)’s study. By the end of 2023, the market's value is projected to increase by USD 5.43 billion. 

Market Dynamics

Nuclear medicine has accurate diagnostic capabilities and is useful in the early detection of cancer and other diseases including cardiovascular disorders. A major driver of the global market is the growing prevalence of cancer and other chronic diseases, as well as a strong demand for early diagnosis of such diseases for successful treatment. Furthermore, radiopharmaceuticals are increasingly being used to diagnose and treat chronic diseases in geriatric patients. The demand is projected to expand due to the rapid growth of this demographic. Cancer is one of the most common causes of death, according to the WHO, accounting for almost one out of every six deaths, making it one of the most critical causes of patient mortality, pushing up demand for nuclear medicine. Increased incidences of target conditions such as Cardiovascular Diseases (CVD) and cancer are driving market growth. In addition, the rapidly increasing geriatric population is expected to increase the patient pool. The growing popularity of radiopharmaceuticals for the care of the elderly is expected to drive up demand for nuclear medicines in the near future.

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The global nuclear medicine market's optimistic future is jeopardized by the high prices of radiopharmaceuticals, which make care unaffordable. Patients are suspicious of nuclear medicine because of the side effects associated with radiation exposure, despite the fact that it has not been shown to be distinctly dangerous. Business opportunities, on the other hand, are expected to offset these growth risks. Radioisotopes are becoming more commonly used in diagnostics and therapeutics because they can be used to learn medical knowledge that would otherwise be inaccessible. They can be used for anything from studying metabolic processes to tracing drug movement in biological systems in medical research.

The business appears to be lucrative and is growing rapidly. Due to growing applications, discoveries, and other factors, it is expected to continue to expand over the next few years. Nonetheless, the high cost of radiopharmaceuticals and the risks associated with radiation exposure remain barriers to market expansion.

Market Segmentation

MRFR has conducted a detailed study of the various parts of the nuclear medicine market which has been segmented on the basis of product type, application, end-user, and region. By product types, the nuclear medicine market has been segmented into diagnostic nuclear medicine and therapeutic radiopharmaceuticals. The diagnostic nuclear medicine sector has risen to the top of the market. The therapeutic radiopharmaceuticals segment, on the other hand, is expected to develop at the fastest rate during the forecast period. SPECT radiopharmaceuticals and PET radiopharmaceuticals are two types of diagnostic nuclear medicine radiopharmaceuticals. Although the therapeutic radiopharmaceuticals segment is divided into alpha emitters, beta emitters, and brachytherapy isotopes, the therapeutic radiopharmaceuticals segment is divided into alpha emitters, beta emitters, and brachytherapy isotopes.

Nuclear medicine applications are divided into two categories: diagnostic and therapeutic. Diagnostic applications is a large segment that is further subdivided into SPECT and PET applications. The therapeutic applications segment, on the other hand, is growing at the fastest rate.

Hospitals and medical centers, research institutes, and others are among the end-users. Hospitals & diagnostics centers have been listed as the most significant segment in terms of market share, while research institutes have the highest potential for growth over the forecast period.

Regional Overview

Owing to North America's presence, the Americas has established itself as a market leader. The development of the nuclear industry in the Americas has been affected by the involvement of many major market players, as well as the high prevalence of cancer and other chronic diseases. North America led the overall market in terms of sales in 2019, owing to high R&D expenditures and government funding for the use of medical isotopes, among other factors. The country, especially the United States and Canada, has well-developed healthcare sectors that receive substantial funding. Furthermore, the area has a large geriatric patient population that is rapidly growing and becoming more knowledgeable of advanced therapies.

Competitive Dashboard

Some of the key players operating in the market are Cardinal Health, GE Healthcare, Bayer, Bracco Imaging, Curium, Lantheus Medical Imaging, Nordion Inc., Advanced Accelerators Applications, Mallinckrodt Pharmaceuticals, Jubliant Lifesciences, and Medtronic plc.

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