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Medical Isotope Market Report Scope & Overview:

Medical Isotope market Revenue Analysis

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The Medical Isotope market size  was valued at USD 5.44 billion in 2023 and is expected to reach USD 10.77 billion in 2031 and grow at a CAGR of 8.9% over the forecast period of 2024-2031.

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.

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.

Impact of covid 19

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.

Market Dynamics

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.

Impact of Russia Ukraine War 

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.

Key Market Segmentation

By Type

  • Stable Isotopes

  • Radioisotope

By Application

  • Medical

  • Scientific Research

  • Industrial

  • Others

Regional Analysis

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.

Medical-Isotope-market-By-Region

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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

Key Players

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.

Wosotop-Company Financial Analysis

Company Landscape Analysis

Medical Isotope Market Report Scope:
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.

 

Frequently Asked Questions

Ans: The market share of the Medical Isotope Market is USD 5.44 billion in 2023.

Ans: The CAGR of the Medical Isotope Market is 8.9% over the forecast period 2024-2031.

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 2024-2031.

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

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

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