According to a new report, published by KBV research, The Global Medical Isotope Market size is expected to reach $9.1 billion by 2030, rising at a market growth of 8.6% CAGR during the forecast period.
The Stable Isotopes segment is poised to have a CAGR of 9% during (2023 - 2030). Stable isotopes are valuable medical research and development tools, particularly in metabolism studies, drug development, and biomolecular research. Stable isotopes labeled with carbon-13 (C-13), nitrogen-15 (N-15), oxygen-18 (O-18), and other isotopes are used to trace metabolic pathways, elucidate molecular mechanisms, and investigate disease processes. As biomedical research expands, the demand for stable isotopes as research reagents and analytical tools continues to grow.
The Hospitals segment is leading the Global Medical Isotope Market by End User in 2022 thereby, achieving a market value of $4.7 billion by 2030. Hospitals serve as medical research and innovation hubs where healthcare professionals and researchers collaborate to advance medical knowledge and technology. Hospitals invest in research and development activities to explore new medical isotope applications and therapies. For instance, as per the Australian Institute of Health and Welfare, Australia spent an estimated $241.3 billion on health goods and services in 2021–22.
The Nuclear Therapy segment is anticipated to have a CAGR of 9.6% during (2023 - 2030). Cancer remains a significant global health challenge, with a rising incidence observed worldwide. For example, according to the Canadian government, in 2021, an estimated 229,200 Canadians were diagnosed with cancer, and 84,600 died from cancer. Nuclear therapy offers effective treatment options for various types of cancer, including prostate cancer, thyroid cancer, neuroendocrine tumors, and certain types of lymphoma. As the prevalence of cancer continues to increase, there is a growing need for advanced therapeutic interventions to improve patient outcomes and quality of life.
Full Report: https://www.kbvresearch.com/medical-isotope-market/
The North America region dominated the Global Medical Isotope Market by Region in 2022 thereby, achieving a market value of $3.2 billion by 2030, growing at a CAGR of 7.8 % during the forecast period. The Europe region would witness a CAGR of 8.3% during (2023 - 2030). Additionally, The Asia Pacific region is experiencing a CAGR of 9.3% during (2023 - 2030).
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