Nuclear medicine is a specialized field of medicine that involves the use of radioactive materials for diagnosis, therapy, and medical research. The nuclear medicine market has been growing steadily in recent years, driven by advancements in imaging technology and an aging global population. The global nuclear medicine market size reached USD 9.15 Billion in 2022 and is expected to register a revenue CAGR of 12.90% during the forecast period, according to latest analysis by Emergen Research. The increasing prevalence of chronic diseases such as cancer and cardiovascular disorders is a major driver of the nuclear medicine market. Nuclear medicine techniques such as PET and SPECT imaging are widely used for the diagnosis and treatment of cancer, while radioisotopes such as technetium-99m are used for cardiovascular imaging. Additionally, the growing demand for personalized medicine and the increasing use of nuclear medicine in drug development are expected to drive market growth in the coming years.
However, the nuclear medicine market is not without its challenges. One of the major restraints is the high cost of equipment and procedures, which can be a barrier to adoption in certain regions. Additionally, the limited availability of radioisotopes and the complex regulatory landscape for their production and distribution can pose challenges to market growth.
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