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LONDON, June 22, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Nuclear Medicine Diagnostics Global Market Report 2023, the market will grow from $5.9 billion in 2022 to $6.5 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%. Further, the market size will reach $9.8 billion in 2027 at a CAGR of more than 10%. North America held the largest nuclear medicine diagnostics market share in 2022

The demand for nuclear medicine diagnostics is expected to be a key driver for market growth. Nuclear medicine utilizes radioactive substances within the body for diagnostic purposes and targeted removal of diseased or damaged organs and tissues. This approach plays a vital role in radiation and life-saving treatments. The benefits of nuclear medicine diagnostics, such as accurate results and improved treatment decision-making, have led to a rising demand.

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Major nuclear medicine diagnostics companies are Cardinal Health Inc., GE HealthCare Technologies Inc., Lantheus, Bayer AG, Bracco Diagnostic Inc., NorthStar Medical Radioisotopes LLC, Eckert & Ziegler, IBA Molecular Imaging, Mallinckrodt PLC., and Curium Pharma.

A key trend in the nuclear medicine diagnostics market is the development of innovative products by key companies to enhance their market position. These companies are actively involved in creating new and advanced solutions.

For example, in December 2020, the US Food and Drug Administration (FDA) approved 68Gallium PSMA-11 (Ga 68 PSMA-11), the first drug for PET imaging in men with prostate cancer. Prostate cancer is the third most common cancer in the United States, and this approval is expected to generate interest in 68Gallium, a PET imaging isotope currently facing shortages.

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The global nuclear medicine diagnostics market is segmented as-

1) By Type: SPECT Radiopharmaceuticals, PET Radiopharmaceuticals

2) By Application: Cardiology, Thyroid, Neurology, Oncology, Other Applications

3) By End-User: Hospitals And Diagnostic Centers, Research Institutes

The nuclear medicine diagnostics market report provides a complete analysis of the market, highlighting its current state, projected growth, key trends, major players, and regional dynamics. The report serves as a valuable resource for understanding the current and future trends in the nuclear medicine diagnostics market. It equips readers with crucial information to make informed decisions, invest strategically, and capitalize on the significant opportunities presented by this rapidly growing industry.

Nuclear Medicine Diagnostics Global Market Report 2023 by The Business Research Company provides insights on the nuclear medicine diagnostics market size, nuclear medicine diagnostics market segments, nuclear medicine diagnostics market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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