The Middle East & Africa Nuclear Medicine/Radiopharmaceuticals Market size is estimated at USD 1.06 billion in 2023. It is expected to reach USD 2.88 billion by 2028, growing at a CAGR of 22.11% during the forecast period.
Nuclear medicine falls under the field of Molecular Imaging, which involves using a minute amount of radioactive material (radiopharmaceuticals) to diagnose and treat disease.
The increasing incidence of cancer and cardiac ailments, immense technological advancements, increasing demand for SPECT and PET applications, and the growing public awareness for healthcare are fuelling the growth of the Radiopharmaceuticals market. Integrating X-ray tomography (CT) into SPECT has recently emerged as an excellent diagnostic tool in medical imaging. It is considered to be a driving factor for the growth of the market. However, a strict regulatory framework poses a significant hurdle to translational research, and clinical investigations and reimbursement issues are blocking the growth of the Radiopharmaceuticals market. Besides, the short half-life of radiopharmaceuticals and competition from orthodox diagnostic procedures also restrain the Middle-East & Africa nuclear medicine market.
The market of radiopharmaceuticals is dominated by diagnostic radioisotopes and is expected to have a market share of 90 % of the radiopharmaceuticals market, while therapeutic radioisotopes contribute 10% of the market. Based on the type of radioisotopes, the market is segmented into Technetium-99m (TC-99m), Thallium-201 (TL-201), Fluorine-18, Iodine (I-123), Rubidium-82 (RB-82), and others. F-18 FDG tracers mostly contribute to the F-18 market, though it is enriched with future tracers such as F-18 Florbetapir and F-18 Choline. The promising clinical outcome of these tracers has gained the business interest of major research institutes and PET isotope players. Ga-68 and Rb-82 are two other potential isotopes in the PET diagnostic market, ensuring the high growth of the diagnostics segment. Diagnosis of coronary artery disease, bone metastasis, and Alzheimer’s disease is the most promising indication for the future PET radioisotopes market.
This research report on the MEA nuclear medicine market has been segmented and sub-segmented into the following categories:
KEY MARKET PLAYERS:
A few prominent companies operating in the MEA nuclear medicine market analyzed 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.
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