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Latin America Nuclear Medicine Market Research Report – Segmented By Diagnostics, Therapeutics, Application and Country (Mexico, Brazil, Argentina, Chile and Rest of Latin America) - Industry Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 108
Pages: 145

Latin America Nuclear Medicine/Radiopharmaceuticals Market Size (2022 to 2027)

The Nuclear Medicine/Radiopharmaceuticals Market size in Latin America is estimated to value USD 0.96 billion in 2022 and USD 1.71 billion by 2027, growing at a CAGR of 12.4% from 2022 to 2027.

Nuclear medicine is growing at a fast rate in the pharmaceutical industry. Nuclear medicine is widely used to diagnose and treat many diseases, namely cancer. According to the National Institute of Health report, in Brazil, cancer is the second leading cause of death after cardiovascular disease. In addition, according to the Globocan report, there will be over 560,500 new cancer cases in Brazil by the end of 2022. The versatile applications of nuclear medicine to diagnose various cancers are another crucial factor driving the Latin American nuclear medicine market. Furthermore, the prevalence of chronic diseases is at an all-time high due to the increased unhealthy lifestyle of people. In addition, the knowledge about the benefits of nuclear medicine in treating chronic disease is driving the market for nuclear medicine.

The Latin American nuclear medicine market has many new product launches, and technological developments in single-photon emission computed tomography (SPECT) and positron emission tomography (PET). Constant and extensive research and development offer substantial growth opportunities for the nuclear medicine market in the future. Due to the prevalence of cancer, there is a tremendous demand for nuclear imaging technology. Furthermore, interventional nuclear medicine treats many chronic diseases such as hyperthyroidism, skin cancer, thyroid cancer, blood disorders, etc. In addition, pharmaceutical applications of radioisotopes are increasing due to their narrow range of action, which reduces the harmful effects on normal tissues, contributing to new growth opportunities. Hence, all the factors mentioned above are expected to drive market growth.

The growing awareness of early and rapid diagnosis using radioisotopes is the fundamental driver of the market. This high-end radiation therapy is essential for treating several cancers at an early stage, namely lymphomas, neuroendocrine tumors, and degenerative bone disorders. Therefore, the demand for nuclear medicine in Latin America increases during the forecast period.

However, nuclear medicine is a high-end technology, which is not available across all Latin American regions. Lack of awareness about nuclear medicine and the high cost associated with the installation, maintenance, and treatment results in a lower adoption rate in this market. Many hospitals cannot afford such high equipment, especially in developing economies, which is expected to limit the market growth. In addition, radioisotopes used in nuclear medicine have a short life expectancy which is a crucial factor determining the market demand for nuclear medicine.

Additionally, most underdeveloped countries lack reimbursement policies that make it less affordable to the general population. Therefore, the cost of radioisotopes and the lack of a developed healthcare system may reduce the growing demand for the Latin American nuclear medicine market during the forecast period.

This research report on the Latin America Nuclear Medicine/Radiopharmaceuticals Market has been segmented and sub-segmented into the following categories:

By Type: 

  • Diagnostic Radioisotopes
    • SPECT   
      • Technetium-99m
      • Thallium-201
      • Gallium-67
      • Iodine-23
      • Others
    • PET     
      • Fluorine-18
      • Rubidium-82
      • Others
  • Therapeutic Radioisotopes                
    • Beta Emitters   
      • Iodine-131
      • Yttrium-90
      • Samarium-153
      • Rhenium-186
      • Lutetium-177
    • Alpha Emitters  
      • Radium-223
    • Brachytherapy  
      • Cesium-131
      • Iodine-125
      • Palladium-103
      • Iridium-192

By Application: 

  • Cardiology
  • Lymphoma
  • Thyroid
  • Neurology
  • Oncology
  • Others    

By Country: 

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

In Latin America, the market is witnessed in having a tremendous growth rate during the forecast period. Brazil and Mexico are positioned at the top in holding a prominent share of the market. Increasing revenue is a common factor outshining the demand for the Nuclear Medicine/Radiopharmaceuticals market. Argentina, Chile, and the Rest of Latin America are deemed to grow steadily in the coming years owing to increasing focus on developing new products. 

Brazil dominated the Latin American nuclear medicine market in 2020, growing at a CAGR of 3%. The increasing frequency of chronic diseases, advanced healthcare systems, and technological advancements drive nuclear medicine in the region. Chile has the highest annual health expenditure as a percentage of GDP and the highest direct per capita expenditure in Latin America. Therefore, their market in Chile is anticipated to have significant growth opportunities in the upcoming years. Additionally, government support in the region has led to increased demand for the nuclear medicine market.

Argentina is estimated to be the fastest-growing regional market during the projected period. The increasing rate of technological advancements and high incidences of cancer is increasing the demand for nuclear medicine in this region. In addition, the regional market is attracting investors from international companies owing to the high demand for medical tourism and the presence of a large senior population in the region.

KEY MARKET PLAYERS:

A few of the notable companies operating in the Latin America Nuclear Medicine/Radiopharmaceuticals market profiled in this report are GE Healthcare, Hologic Inc., Medix Inc., Segami Corporation, Positron Corporation, Bracco Imaging S.p.A, Naviscan Inc., Bayer Healthcare Lantheus Medical Imaging, Inc., and IBA Molecular Imaging.

1.Introduction                                                  

                1.1 Market Definition                                    

                1.2 Study Deliverables                                  

                1.3 Base Currency, Base Year and Forecast Periods                                           

                1.4 General Study Assumptions                                

2. Research Methodology                                                           

                2.1 Introduction                                              

                2.2 Analysis Design                                         

                2.3 Research Phases                                      

                                2.3.1 Secondary Research                            

                                2.3.2 Primary Research                 

                                2.3.3 Econometric Modelling                     

                                2.3.4 Expert Validation                  

                2.4 Study Timeline                                          

3. Overview                                                      

                3.1 Executive Summary                                

                3.2 Key Inferences                                         

                3.3 New Developments                                

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                                      

                4.1 Market Drivers                                          

                4.2 Market Restraints                                    

                4.3 Key Challenges                                         

                4.4 Current Opportunities in the Market                               

5. Market Segmentation                                                              

                5.1 By Type                                        

                                5.1.1 Diagnostic Radioisotopes                 

                                                5.1.1.1 SPECT    

                                                                5.1.1.1.1 Technetium-99m

                                                                5.1.1.1.2 Thallium-201

                                                                5.1.1.1.3 Gallium-67

                                                                5.1.1.1.4 Iodine-23

                                                                5.1.1.1.5 Others

                                                5.1.1.2 PET         

                                                                5.1.1.2.1 Fluorine-18

                                                                5.1.1.2.2 Rubidium-82

                                                                5.1.1.2.3 Others

                                5.1.2 Therapeutic Radioisotopes                              

                                                5.1.2.1 Beta Emitters     

                                                                5.1.2.1.1 Iodine-131

                                                                5.1.2.1.2 Yttrium-90

                                                                5.1.2.1.3 Samarium-153

                                                                5.1.2.1.4 Rhenium-186

                                                                5.1.2.1.5 Lutetium-177

                                                5.1.2.2 Alpha Emitters   

                                                                5.1.2.2.1 Radium-223

                                                5.1.2.3 Brachytherapy   

                                                                5.1.2.3.1 Cesium-131

                                                                5.1.2.3.2 Iodine-125

                                                                5.1.2.3.3 Palladium-103

                                                                5.1.2.3.4 Iridium-192

                5.2 By Application                                           

                                5.2.1 Cardiology                               

                                5.2.2 Lymphoma                             

                                5.2.3 Thyroid                     

                                5.2.4 Neurology               

                                5.2.5 Oncology                 

                                5.2.6 Others                      

6. Geographical Analysis                                                              

                6.1 Introduction                                              

                6.2 Brazil                                             

                6.3 Argentina                                    

                6.4 Mexico                                         

7.Strategic Analysis                                                        

                7.1 PESTLE analysis                                         

                                7.1.1 Political                     

                                7.1.2 Economic                 

                                7.1.3 Social                         

                                7.1.4 Technological                         

                                7.1.5 Legal                          

                                7.1.6 Environmental                      

                7.2 Porter’s Five analysis                                              

                                7.2.1 Bargaining Power of Suppliers                        

                                7.2.2 Bargaining Power of Consumers                    

                                7.2.3 Threat of New Entrants                     

                                7.2.4 Threat of Substitute Products and Services               

                                7.2.5 Competitive Rivalry within the Industry                      

8.Market Leaders' Analysis                                                          

                8.1 GE Healthcare                                           

                                8.1.1 Overview                

                                8.1.2 Product Analysis                   

                                8.1.3 Strategic Evaluation and Operations                            

                                8.1.4 Financial analysis                  

                                8.1.5 Legal issues                            

                                8.1.6 Recent Developments                       

                                8.1.7 SWOT analysis                       

                                8.1.8 Analyst View                          

                8.2 Hologic Inc.                                

                8.3 Segami Corporation                                

                8.4 Positron Corporation                                              

                8.5 Bracco Imaging S.P.A                                              

                8.6 Naviscan Inc.                                              

                8.7 Bayer Healthcare                                     

                8.8 Lantheus Medical Imaging Inc.                                           

                8.9 IBA Molecular Imaging                                           

                8.10 Medix Inc.                                

9.Competitive Landscape                                                            

                9.1 Market share analysis                                            

                9.2 Merger and Acquisition Analysis                                        

                9.3 Agreements, collaborations and Joint Ventures                                          

                9.4 New Product Launches                                          

10.Expert Opinions                                                         

                10.1 Market Outlook                                     

                10.2 Investment Opportunities                                 

Appendix                                                           

                a) List of Tables                                

                b) List of Figures                                              

  1. Latin America Nuclear Medicine/Radiopharmaceuticals Market, By Region, From 2022 - 2027 (USD Million)
  2. Latin America Nuclear Medicine/Radiopharmaceuticals Market, By Type, From 2022 - 2027 (USD Million)
  3. Latin America Diagnostic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  4. Latin America Therapeutic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  5. Latin America Nuclear Medicine/Radiopharmaceuticals Market, By Application, From 2022 - 2027 (USD Million)
  6. Latin America Cardiology Market, By Region, From 2022 - 2027 (USD Million)
  7. Latin America Lymphoma Market, By Region, From 2022 - 2027 (USD Million)
  8. Latin America Thyroid Market, By Region, From 2022 - 2027 (USD Million)
  9. Latin America Neurology Market, By Region, From 2022 - 2027 (USD Million)
  10. Latin America Oncology Market, By Region, From 2022 - 2027 (USD Million)
  11. Latin America Other Applications Market, By Region, From 2022 - 2027 (USD Million)
  12. Latin America Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  13. Latin America SPECT Diagnostic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  14. Latin America PET Diagnostic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  15. Latin America Other Diagnostic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  16. Latin America SPECT Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  17. Latin America Technetium-99m Market, By Region, From 2022 - 2027 (USD Million)
  18. Latin America Thallium-201 Market, By Region, From 2022 - 2027 (USD Million)
  19. Latin America Gallium-67 Market, By Region, From 2022 - 2027 (USD Million)
  20. Latin America Iodine-23 Market, By Region, From 2022 - 2027 (USD Million)
  21. Latin America Other SPECT Diagnostic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  22. Latin America PET Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  23. Latin America Fluorine-18 Market, By Region, From 2022 - 2027 (USD Million)
  24. Latin America Rubidium-82 Market, By Region, From 2022 - 2027 (USD Million)
  25. Latin America Other PET Diagnostic Radioisotopes Market, By Region, From 2022 - 2027 (USD Million)
  26. Latin America Therapeutic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  27. Latin America Beta Emitters Market, By Region, From 2022 - 2027 (USD Million)
  28. Latin America Alpha Emitters Market, By Region, From 2022 - 2027 (USD Million)
  29. Latin America Brachytherapy Market, By Region, From 2022 - 2027 (USD Million)
  30. Latin America Beta Emitters Market, By Type, From 2022 - 2027 (USD Million)
  31. Latin America Iodine-131 Market, By Region, From 2022 - 2027 (USD Million)
  32. Latin America Yttrium-90 Market, By Region, From 2022 - 2027 (USD Million)
  33. Latin America Samarium-153 Market, By Region, From 2022 - 2027 (USD Million)
  34. Latin America Rhenium-186 Market, By Region, From 2022 - 2027 (USD Million)
  35. Latin America Lutetium-177 Market, By Region, From 2022 - 2027 (USD Million)
  36. Latin America Alpha Emitters Market, By Type, From 2022 - 2027 (USD Million)
  37. Latin America Radium-223 Market, By Region, From 2022 - 2027 (USD Million)
  38. Latin America Other Alpha Emitters Market, By Region, From 2022 - 2027 (USD Million)
  39. Latin America Brachytherapy Market, By Type, From 2022 - 2027 (USD Million)
  40. Latin America Cesium-131 Market, By Region, From 2022 - 2027 (USD Million)
  41. Latin America Iodine-125 Market, By Region, From 2022 - 2027 (USD Million)
  42. Latin America Palladium-103 Market, By Region, From 2022 - 2027 (USD Million)
  43. Latin America Iridium-192 Market, By Region, From 2022 - 2027 (USD Million)
  44. Brazil Nuclear Medicine/Radiopharmaceuticals Market, By Type, From 2022 - 2027 (USD Million)
  45. Brazil Nuclear Medicine/Radiopharmaceuticals Market, By Application, From 2022 - 2027 (USD Million)
  46. Argentina Nuclear Medicine/Radiopharmaceuticals Market, By Type, From 2022 - 2027 (USD Million)
  47. Argentina Nuclear Medicine/Radiopharmaceuticals Market, By Application, From 2022 - 2027 (USD Million)
  48. Mexico Nuclear Medicine/Radiopharmaceuticals Market, By Type, From 2022 - 2027 (USD Million)
  49. Mexico Nuclear Medicine/Radiopharmaceuticals Market, By Application, From 2022 - 2027 (USD Million)
  50. Brazil Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  51. Argentina Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  52. Mexico Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  53. Brazil Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  54. Argentina Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  55. Mexico Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  56. Brazil SPECT Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  57. Argentina SPECT Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  58. Mexico SPECT Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  59. Brazil PET Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  60. Argentina PET Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  61. Mexico PET Diagnostic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  62. Brazil Therapeutic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  63. Argentina Therapeutic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  64. Mexico Therapeutic Radioisotopes Market, By Type, From 2022 - 2027 (USD Million)
  65. Brazil Beta Emitters Market, By Type, From 2022 - 2027 (USD Million)
  66. Argentina Beta Emitters Market, By Type, From 2022 - 2027 (USD Million)
  67. Mexico Beta Emitters Market, By Type, From 2022 - 2027 (USD Million)
  68. Brazil Alpha Emitters Market, By Type, From 2022 - 2027 (USD Million)
  69. Argentina Alpha Emitters Market, By Type, From 2022 - 2027 (USD Million)
  70. Mexico Alpha Emitters Market, By Type, From 2022 - 2027 (USD Million)
  71. Brazil Brachytherapy Market, By Type, From 2022 - 2027 (USD Million)
  72. Argentina Brachytherapy Market, By Type, From 2022 - 2027 (USD Million)
  73. Mexico Brachytherapy Market, By Type, From 2022 - 2027 (USD Million)

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