The Latin America, Middle East and Africa Medical Isotope Market would witness market growth of 10.8% CAGR during the forecast period (2023-2030).
The Brazil market dominated the LAMEA Medical Isotope Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $185.4 million by 2030. The Argentina market is showcasing a CAGR of 11.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 10.4% during (2023 - 2030).
In addition, contract research organizations (CROs) provide research and development services to pharmaceutical companies, biotechnology firms, and academic institutions involved in drug discovery, clinical trials, and medical imaging research. CROs play a critical role in conducting preclinical and clinical studies, evaluating the safety and efficacy of radiopharmaceuticals, and advancing the development of new isotopic agents for diagnostic and therapeutic applications. These advancements mitigate supply shortages and improve access to critical isotopes for diagnostic and therapeutic applications.
The clinical applications of medical isotopes continue to expand beyond traditional imaging modalities and therapeutic treatments. Emerging applications include Theranostics approaches for neuroendocrine tumors, prostate cancer, and metastatic bone disease, as well as molecular imaging techniques for neurodegenerative disorders and cardiovascular diseases. This trend reflects the growing recognition of isotopic imaging and therapy as valuable tools in precision medicine and personalized healthcare.
High healthcare expenditure in the UAE allows for investment in research and development initiatives in the healthcare sector, including nuclear medicine and medical isotopes. According to the International Trade Administration (ITA), 7.6% of the $17.18 billion (AED 63.066 billion) authorized for public spending in the UAE’s 2022 federal budget is earmarked for healthcare. Therefore, high expenditure in the region’s healthcare sector drives the market’s growth.
Free Valuable Insights: The Worldwide Medical Isotope Market is Projected to reach USD 9.1 Billion by 2030, at a CAGR of 8.6%
Based on Type, the market is segmented into Radioisotopes, and Stable Isotopes. Based on End User, the market is segmented into Hospitals, Diagnostic Centers, and Research Institutes. Based on Application, the market is segmented into Diagnostic, and Nuclear Therapy. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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