Description
The global market for Radioisotopes is estimated to be valued as $ 8.55 billion in 2014 and is expected to reach $ 15.37 billion by the end of 2019. During this period of forecast the market is expected to grow at a CAGR of 12.45 %.
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Major driving factors for the growth of the market are increasing demand of SPECT analysis in radiopharmaceuticals, development of better instruments, newer computer based procedures for image analysis and display, new 99mTc labeled agents for visualizing biologically significant events, increasing demand of PET analysis in radiopharmaceuticals, increasing use in clinical applications to study psychiatric disorders. Integration of X ray tomography( CT) into SPECT has recently emerged as a brilliant diagnostic tool in medical imaging and is considered to be a driving factor for the growth of the market.. However, some of the major constrains for the market are shorter half- life of radioisotopes, high capital investment, regulatory guidelines and reimbursement issues.
SPECT radioisotopes chemical form of thallous chloride has been the principle tracer used in myocardial perfusion imaging. Technetium-99m is the major radioisotope used in SPECT. Generally technetium is produced in technetium generators. Tl-201 is used in myocardial perfusion studies, In-111 is used in prostate cancer, and Ga-67 is used in lymphoma diagnosis and treatment. The most commonly used radiotracer in PET imaging is F-18 fluorodeoxyglucose( FDG), a glucose analogue. FDG-PET scans have been very accurate than conventional imaging in evaluation of many malignancies. The other radionuclide used is Rubidium-82.
PET imaging radioisotopes has got many applications in clinical neurology which involves movement disorders, epilepsy, brain tumors, dementia, Stroke and neuronal plasticity etc. Future applications include early diagnosis of brain metastases, Parkinson syndromes and neurodegenerative disorders such as AD. Market for radioisotopes is expected to be more in developing countries because of increasing awareness of people for radioisotopes, increasing incidence of chronic disease like cancer and increasing population.
Market is segmented by type of radioisotopes( Technetium-99m( TC-99m), Thallium-201( TL-201), Iodine( I-123), Fluorine-18, Rubidium-82( RB-82) and others). By application market is segmented into( cardiology, lymphoma, thyroid, neurology oncology, and others). By geography market is segmented into North America, Europe and Asia-Pacific etc.
Major players in the market GE Healthcare, Hologic Inc., Medix Inc., Naviscan Inc., Positron Corporation, Segami Corporation. Mergers and acquisitions of small and medium sized manufacturers to enter in overseas market is a strategy adopted by multinational players.
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