There has been an immense growth in the patient suffering from heart disease and cancer this can be declared as the major factor because of which there is an increase in the demand for medical isotope practices. According to our analysis, isotopes play an important role in any medical procedures during treatment like therapy or imaging also during surgery use of the isotope is been done. The process of imaging with the help of isotopes is further divided into two sections i.e., SPECT and PET. Due to the rise in the demand for imaging techniques and the benefits associated with them, there has been a rise in the demand for the production of on-site isotopes. According to our experts, the two isotopes which are used in the medical field are Cobalt -60 and Iodine -125.
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The Canada Medical Isotope market size for Canada was valued at USD 911.17 million in 2022 and is expected to reach USD 2223.99 million in 2031 and grow at a CAGR of 11.8% over the forecast period of 2024-2031. The initiative taken by the government is the major driving factor for this particular field, also the rising prevalence of cancer patients and the major responsibility of treating them are the factors which contribute towards the growth of medical isotopes. The other factors which drive the medical isotopes market in Canada region include the rise in the aging population and the rise in the number of cancer and cardiovascular patients, also as we mentioned earlier the initiative taken by the government in favour of the medical industry and the advancement of the technologies and the initiatives of providing better facilities to the patients in Canada are the reasons because of which Canada is the leading country for the medical isotope market.
Covid 19 affected almost every industry, healthcare was one of them. The factors which impacted negatively on the medical isotopes market during the covid 19 were the lockdown rules imposed by the government which further led to the disruption of healthcare supply chain management and shortage of production on-site, the other factors which had a negative impact on the medical isotope during the covid 19 was the economic instability of the nations and individuals. As we all know the whole medical industry was busy with the covid patients it was hard to prioritize the treatment of patients suffering from other disease. Also, the lack of staff in the healthcare industry all around the globe made it difficult to deal with the treatment procedure on the early basis.
Drivers
Rise in the number of cardiovascular patients and cancer patients all around the globe.
Rise in the geriatric population
Restrain
Lack of awareness in the developed countries.
Opportunities
The government support and initiative to provide good facilities to the patients.
The technological advancement in the healthcare industry.
Challenges
Lack of skilled professionals and the accuracy factor in imaging.
The Russia-Ukraine war is said to have a negative effect on the medical isotope market due to the disruption caused by the war in the global supply chain management, also the displacement of the citizens living in those regions which included skill full medical experts has caused a lack of professionals which will surely have a negative impact on the medical isotope market. The other factors include the fear of the investors to invest in the healthcare industry in those regions also the other Europd Russia-based manufacturers.
Impact of the ongoing recession
The recession affects the economic conditions globally and on an individual level as well, recession will cause changes like changes in the buying pattern of the people and the change in the decision-making perspective. Recessions bring issues like changes in the exchange rate, demand and supply and also the transportation factor which will lead to price fluctuation. According to our experts and the analysis of the previous recession, it was observed that recession has a negative impact on people's perceptions people usually neglect small symptoms and show up to the hospital only in emergency cases. This leads to the conclusion that the recession will have a negative impact on the medical isotope market due to economic scenarios and the shift in the perspective of the people during the recession. This report will give you a piece of exact brief information about the impact of the ongoing recession on the medical isotope market.
By Type
Stable Isotopes
Radioisotope
By Application
Medical
Scientific Research
Industrial
Others
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North America is said to be the region that dominates the medical isotope market and will keep doing the same during the forecasted period, the major countries like Canada USA have been the major contribution counties towards the growth of the medical isotope market, factors like the rise in the cardiovascular disease all around the developed countries of North America due to the stressful work routines and unhealthy lifestyle is said to be the driving factor also the initiatives taken by the government regarding the technological advancement and the element of providing better healthcare and medical treatment facilities to the citizens is also the important factor which is considered to be the driving factor for medical isotope market.
Europe has also contributed to the growth of the medical isotope market due to the rise in the demand for PET isotopes which are used for imaging, the rise in the awareness of the benefits of the use of isotopes in the medical field in emerging countries, and developed countries of Europe is said to be the driving factor.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are ISOTEC, Nippon Sanso, Cambridge Isotope Laboratories, Centre of molecular research, LANL, ORNL, HISO, NHTC,3M, ANSTO, Nordion, Wosotop, Urenco, LINDE, IRE, Curium Pharma, NRG, Eckert Ziegler Strahlen and Others.
| Report Attributes | Details |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Stable Isotope, Radioisotopes) • By Application (Medical, Scientific Research, Industrial, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | ISOTEC, Nippon Sanso, Cambridge Isotope Laboratories, Centre of molecular research, LANL, ORNL, HISO, NHTC,3M, ANSTO, Nordion, Wosotop, Urenco, LINDE, IRE, Curium Pharma, NRG, Eckert Ziegler Strahlen |
| Key Drivers | • Rise in the number of cardiovascular patients and cancer patients all around the globe. • Rise in the geriatric population |
| Market Opportunity | • The government support and initiative to provide good facilities to the patients. • The technological advancement in the healthcare industry. |
Ans: The market share of the Medical Isotope Market is USD 815.74 million in 2022.
Ans: The CAGR of the Medical Isotope Market is 11.5 % over the forecast period 2023-2030.
Ans: The major players in the market are ISOTEC, Nippon Sanso, Cambridge Isotope Laboratories, Centre of molecular research, LANL, ORNL, HISO, NHTC,3M, ANSTO, Nordion, Wosotop, Urenco, LINDE, IRE, Curium Pharma, NRG, Eckert Ziegler Strahlen, and others in the final report.
Ans: The forecast period of the Medical Isotope Market is 2023-2030.
Ans: The government supports an initiative to provide good facilities to patients. The technological advancement in the healthcare industry.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of the Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Medical Isotope Market Segmentation, by Type
8.1Stable Isotope
8.2 Radioisotope
9. Medical Isotope Market Segmentation, by Application
9.1 Medical
9.2 Scientific Research
9.3 Industrial
9.4 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.1.1 USA Medical Isotope Market by Type
10.2.1.2 USA Medical Isotope Market by Application
10.2.2 Canada
10.2.2.1 Canada Medical Isotope Market by Type
10.2.2.2 Canada Medical Isotope Market by Application
10.2.3 Mexico
10.2.3.1 Mexico Medical Isotope Market by Type
10.2.3.2 Mexico Medical Isotope Market by Application
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany Medical Isotope Market by Type
10.3.1.2 Germany Medical Isotope Market by Application
10.3.2 UK
10.3.2.1 UK Medical Isotope Market by Type
10.3.2.2 UK Medical Isotope Market by Application
10.3.3 France
10.3.3.1 France Medical Isotope Market by Type
10.3.3.2 France Medical Isotope Market by Application
10.3.4 Italy
10.3.4.1 Italy Medical Isotope Market by Type
10.3.4.2 Italy Medical Isotope Market by Application
10.3.5 Spain
10.3.5.1 Spain Medical Isotope Market by Type
10.3.5.2 Spain Medical Isotope Market by Application
10.3.6 The Netherlands
10.3.6.1 Netherlands Medical Isotope Market by Type
10.3.6.2 Netherlands Medical Isotope Market by Application
10.3.7 Rest of Europe
10.3.7.1 Rest of Europe Medical Isotope Market by Type
10.3.7.2 Rest of Europe Medical Isotope Market by Application
10.4 Asia-Pacific
10.4.1 Japan
10.4.1.1 Japan Medical Isotope Market by Type
10.4.1.2 Japan Medical Isotope Market by Application
10.4.2 South Korea
10.4.2.1 South Korea Medical Isotope Market by Type
10.4.2.2 South Korea Medical Isotope Market by Application
10.4.3 China
10.4.3.1 China Medical Isotope Market by Type
10.4.3.2 China Medical Isotope Market by Application
10.4.4 India
10.4.4.1 India Medical Isotope Market by Type
10.4.4.2 India Medical Isotope Market by Application
10.4.5 Australia
10.4.5.1 Australia Medical Isotope Market by Type
10.4.5.2 Australia Medical Isotope Market by Application
10.4.6 Rest of Asia-Pacific
10.4.6.1 APAC Medical Isotope Market by Type
10.4.6.2 APAC Medical Isotope Market by Application
10.5 The Middle East & Africa
10.5.1 Israel
10.5.1.1 Israel Medical Isotope Market by Type
10.5.1.2 Israel Medical Isotope Market by Application
10.5.2 UAE
10.5.2.1 UAE Medical Isotope Market by Type
10.5.2.2 UAE Medical Isotope Market by Application
10.5.3 South Africa
10.5.3.1 South Africa Medical Isotope Market by Type
10.5.3.2 South Africa Medical Isotope Market by Application
10.5.4 Rest of Middle East & Africa
10.5.4.1 Rest of Middle East & Asia Medical Isotope Market by Type
10.5.4.2 Rest of Middle East & Asia Medical Isotope Market by Application
10.6 Latin America
11.6.1 Brazil
10.6.1.1 Brazil Medical Isotope Market by Type
10.6.1.2 Brazil Africa Medical Isotope Market by Application
11.6.2 Argentina
10.6.2.1 Argentina Medical Isotope Market by Type
10.6.2.2 Argentina Medical Isotope Market by Application
10.6.3 Rest of Latin America
10.6.3.1 Rest of Latin America Medical Isotope Market by Type
10.6.3.2 Rest of Latin America Medical Isotope Market by Application
11 Company Profile
11.1 ISOTEC
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Nippon Sanso
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3. Cambridge Isotope Laboratories
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Centre of Molecular Research
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 LANL
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 ORNL
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 HISO
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 NHTC
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services/Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 3M
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services/Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 ANSTO
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services/Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 NORDION
11.11.1 Market Overview
11.11.2 Financials
11.11.3 Product/Services/Offerings
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 WOSOTOP
11.12.1 Market Overview
11.12.2 Financials
11.12.3 Product/Services/Offerings
11.12.4 SWOT Analysis
11.12.5 The SNS View
11.13 URENCO
11.13.1 Market Overview
11.13.2 Financials
11.13.3 Product/Services/Offerings
11.13.4 SWOT Analysis
11.13.5 The SNS View
11.14 LINDE
11.14.1 Market Overview
11.14.2 Financials
11.14.3 Product/Services/Offerings
11.14.4 SWOT Analysis
11.14.5 The SNS View
11.15 IRE
11.15.1 Market Overview
11.15.2 Financials
11.15.3 Product/Services/Offerings
11.15.4 SWOT Analysis
11.15.5 The SNS View
11.16 Curium Pharma
11.16.1 Market Overview
11.16.2 Financials
11.16.3 Product/Services/Offerings
11.16.4 SWOT Analysis
11.16.5 The SNS View
11.17 NRG
11.17.1 Market Overview
11.17.2 Financials
11.17.3 Product/Services/Offerings
11.17.4 SWOT Analysis
11.17.5 The SNS View
11.18 , Eckert Ziegler Strahlen
11.18.1 Market Overview
11.18.2 Financials
11.18.3 Product/Services/Offerings
11.18.4 SWOT Analysis
11.18.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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