Global Medical Isotopes Market Overview:
Medical isotopes are radioactive substances used in the diagnosis and treatment of diseases. The energy emitted by these radioactive substances can be detected using special cameras and imaging software that helps evaluate organ size, location, and function. In treatment, some radioactive substances can be used to destroy harmful cells or tumors. The majority of medical isotopes are made in nuclear reactors with some being produced in cyclotrons. The isotopes that are neutron-rich and those created from nuclear fission must be made in nuclear reactors.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Interest in the Innovative Treatment using Holmium-166
Market Growth Drivers:
Increase In R&D Activities In The Pharmaceutical And Biotechnology Sector and Rising Prevalence of the Chronic Diseases like Cancers
Challenges:
Dearth of Skilled Professionals
Restraints:
High Cost of Medical Isotopes Compounds
Opportunities:
Rising Investments in Pharmaceutical R&D in Emerging Markets
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Northwest Medical Isotopes, LLC (United States), BWX Technologies, Inc. (United States), Coquí RadioPharmaceuticals (United States), Cambridge Isotope Laboratories, Inc. (United States), Merck KGaA (Germany), Urenco Limited (United Kingdom), Isosciences, LLC (An Mdp Chemicals Company) (United States), Medical Isotopes, Inc. (United States), Omicron Biochemicals, Inc. (United States), Nordion Inc. (A Sterigenics International LLC Company) (Canada), Trace Sciences International (Canada), Alsachim (France) and Taiyo Nippon Sanso Corporation (Japan). Additionally, following companies can also be profiled that are part of our coverage like Rotem Industries Israel Ltd (Israel) and Perkinelmer Inc. (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Medical Isotopes market by 2030. Considering Market by Treatment, the sub-segment i.e. Diagnostic will boost the Medical Isotopes market. Considering Market by Disease, the sub-segment i.e. Heart function will boost the Medical Isotopes market. Considering Market by End User, the sub-segment i.e. Pharmaceutical & Biotechnology Companies will boost the Medical Isotopes market.
Latest Market Insights:
In April 2018,BWX Technologies, Inc. announced today that it has signed a definitive agreement to acquire Sotera Health’s Nordion medical isotope business.
In November , 2023,BWXT Medical Ltd. and Fusion Pharmaceuticals Inc. announced that the companies have entered into an agreement for the supply of generators to produce actinium-225, a medical isotope used to treat cancer in clinical trials.
What Can be Explored with the Medical Isotopes Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Medical Isotopes Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Medical Isotopes
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Medical Isotopes market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Medical Isotopes market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Medical Isotopes Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.