Asia Pacific Radioactive Tracer Market
The Asia Pacific radioactive tracer market was valued at US$ 1,615.80 million in 2022 and is expected to reach US$ 6,629.61 million by 2030; it is estimated to grow at a CAGR of 19.3% from 2022 to 2030.
Rising Prevalence of Chronic Diseases fuel the Asia Pacific Radioactive Tracer Market
Increasing aging population, changing social behavior, rising adoption of a sedentary lifestyle, and accelerating urbanization are the key factors boosting the prevalence of obesity and other chronic diseases such as diabetes. Further, studies have long established that genes can cause chronic conditions such as cardiovascular disease (CVD), diabetes, obesity, Alzheimer's disease (AD), and depression.
CVDs, such as atherosclerosis, angina pectoris, and acute myocardial infarction, caused due to hectic lifestyles have become significant causes of mortality worldwide. As per the data provided by the WHO, CVDs are the predominant cause of death worldwide, recording estimated 17.9 million deaths each year. Diabetes is a life-threatening chronic disease with no functional cure. Diabetes of all types can lead to various complications in different body parts and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are among the major complications associated with diabetes. The disease prevalence will likely increase by nearly 35% during the forecast period.
Thus, an effective examination is a must for properly treating chronic diseases; hence, nuclear substances are used for diagnosis and examination purposes. These nuclear substances are used in diagnostic tests such as positron emission tomography (PET) and single-photon emission computerized tomography (SPECT) to diagnose chronic diseases such as neurological, cardiovascular, chronic lung, and chronic kidney diseases. the availability of several radiotracer across the globe makes it selection easy depending on the type of disease and its prognosis. Thus, the increasing incidences of chronic diseases are surging the demand for radioactive tracer, positively favoring market expansion.
Asia Pacific Radioactive Tracer Market Overview
The Asia Pacific radioactive tracer market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The market in the region is likely to continue to grow at the fastest rate during the forecast period owing to factors such as the development of new research facilities, the rise in the geriatric population and significant evolution of hybrid systems with technological advancement in the field of imaging.
Asia Pacific Radioactive Tracer Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Radioactive Tracer Market Segmentation
The Asia Pacific radioactive tracer market is segmented based on tracer type, test type, end user, application, and country. Based on tracer type, the Asia Pacific radioactive tracer market is segmented into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held the largest market share in 2022.
Based on test type, the Asia Pacific radioactive tracer market is segmented into PET, SPECT, and others. The SPECT segment held the largest market share in 2022.
Based on end user, the Asia Pacific radioactive tracer market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held the largest market share in 2022.
Based on application, the Asia Pacific radioactive tracer market is segmented into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held the largest market share in 2022.
Based on country, the Asia Pacific radioactive tracer market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific radioactive tracer market share in 2022.
Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, and IBA Radiopharma Solutions are some of the leading players operating in the Asia Pacific radioactive tracer market.
Strategic insights for the Asia Pacific Radioactive Tracer provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,615.80 Million |
| Market Size by 2030 | US$ 6,629.61 Million |
| Global CAGR (2022 - 2030) | 19.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Tracer Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Radioactive Tracer refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Asia Pacific Radioactive Tracer Market is valued at US$ 1,615.80 Million in 2022, it is projected to reach US$ 6,629.61 Million by 2030.
As per our report Asia Pacific Radioactive Tracer Market, the market size is valued at US$ 1,615.80 Million in 2022, projecting it to reach US$ 6,629.61 Million by 2030. This translates to a CAGR of approximately 19.3% during the forecast period.
The Asia Pacific Radioactive Tracer Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Radioactive Tracer Market report:
The Asia Pacific Radioactive Tracer Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Radioactive Tracer Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Radioactive Tracer Market value chain can benefit from the information contained in a comprehensive market report.
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