In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Therapeutic nuclear medicines are primarily used for irradiation of cells and organs therapeutically. Nuclear medicines has the unique characteristics of the radioactive materials. These properties are used for the treatment of the certain medical conditions. The nuclear medicines are used for the treatment of the chronic diseases such as cancer .Some of the common application of the nuclear medicines includes treatment of over-active thyroid and thyroid cancer .The nuclear medicines are consumed in the form of liquid and capsule.
The global therapeutic nuclear medicines market is anticipated to expand at a significant CAGR during 2018-2027. The increasing cases of the population suffering from chronic disease coupled with rising demand for the better therapies is anticipated to boost the growth of the global therapeutic nuclear medicines market. For instance, according to WHO the total cases related to cancer is around 18.1 million in 2018. Additionally, the cases related to chronic respiratory diseases are around globe which includes large cases of asthma is anticipated to boost the growth of the overall market. The total cases of asthma is 235 million in 2018.
The global therapeutic nuclear medicines market can be segmented on the basis of product type, application, end-user and region. On the basis of product type, it is sub-segmented into alpha emitters, beta emitters and brachytherapy products. On the basis of application, it is sub-segmented into bone metastasis, thyroid, endocrine tumors, lymphoma and others. Thyroid is anticipated to be the leading sub-segment for the application segment. The increasing cases of the thyroid cancer across the globe is anticipated to boost the demand for the therapeutic nuclear medicines during the forecast period. On the basis of end-user, it is sub-segmented into ambulatory surgical centers, hospitals and radiology clinics. Hospitals is anticipated to be the leading sub-segment of the end-user segment on the account of the high availability of therapeutic medicines coupled with the rising number of consultants for the diagnosis of the chronic diseases .
By region, global therapeutic nuclear medicines market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global therapeutic nuclear medicines market. The development of the technology in the region such as introduction of the new radiopharmaceuticals for the therapy and imaging is expected to propel the market growth of the therapeutic nuclear medicines in the region. Asia-Pacific is anticipated to be the fastest developing region for the global therapeutic nuclear medicines market. The rising disposable income of the population, improving healthcare standards is anticipated to fuel the market growth of the therapeutic nuclear medicines in the region. Additionally increasing government expenditure in the healthcare is anticipated to expand the therapeutic nuclear medicines market. CLICK TO DOWNLOAD SAMPLE REPORT
Our in-depth analysis segmented the global therapeutic nuclear medicines market in the following segments:
By Product Type
Global therapeutic nuclear medicines market is further classified on the basis of region as follows:
The increasing number of the cases related to chronic diseases coupled with the rising awareness about the nuclear medicine is anticipated to be the major growth driver for the global therapeutic nuclear medicines market. The non-invasive procedure done by using therapeutic nuclear medicine is also driving the growth of the global therapeutic nuclear medicines market. The increasing research and development in the therapeutic nuclear medicine in order to cure the patient effectively is anticipated to be one of the major growth driver for the global therapeutic nuclear medicines market.
However, costly procedure involved in the treatment, low supply and side effects involved in the treatment is anticipated to restrict the global therapeutic nuclear medicines market.