Nuclear Medicine/Radiopharmaceuticals Market 2020-2030: In-Depth Profiling of Key Players, Key Development, Risks And Entry Barriers
The Nuclear Medicine/Radiopharmaceuticals Market was worth US$ 6.5 Billion in 2019 and is expected to grow at a CAGR of 8.9% through 2030. The major factor driving the growth of global market is the increasing prevalence of cancer patients across the globe. As per a data published by World Health Organization, in 2018 more than 9.6 million deaths were estimated caused by cancer. Moreover, rising occurrences of cardiovascular diseases at a global scale is anticipated to favor the growth of global nuclear medicine market. According to World Health Organization, every year more than 17 million deaths are recorder caused by cardiovascular disease. The number is anticipated to reach more than 23,6 million by 2030. Researchers are focused on extensive research activities to improve radiotherapy for several diseases including neurological diseases, thyroid-related diseases, bone diseases, and respiratory diseases. For instance, in July 2019, French Investigators published a research paper mentioning the use of hafnium oxide nanoparticle NBTXR3 as a radio enhancer. This is supposed to enhance the response rate for soft-tissue sarcoma. Moreover, radiopharmaceuticals are majorly being used in molecular imaging processes as biomarkers that determines the progress or onset of a disease.