North America Medical Isotope Market Size, Share & Trends Analysis Report By Type, By End User (Hospitals, Diagnostic Centers, and Research Institutes), By Application (Diagonostic, and Nuclear Therapy), By Country and Growth Forecast, 2023 - 2030
The North America Medical Isotope Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030).
The US market dominated the North America Medical Isotope Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,322.1 million by 2030. The Canada market is experiencing a CAGR of 10.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 9.3% during (2023 - 2030).
The medical isotope market is crucial in modern healthcare, providing essential tools for diagnostic imaging, treatments, and medical research. Medical isotopes, or radiopharmaceuticals, are radioactive substances used in nuclear medicine procedures to diagnose and treat various medical conditions. Medical isotopes play a vital role in diagnostic imaging, allowing healthcare professionals to visualize and assess physiological processes within the body. From identifying tumors, assessing organ function, detecting abnormalities, and monitoring treatment response, medical isotopes provide valuable diagnostic information that helps guide patient care.
Furthermore, the development of clinical guidelines and protocols for using medical isotopes has standardized practices and increased confidence among healthcare providers. Evidence-based recommendations help guide the appropriate selection, administration, and interpretation of isotopic imaging studies and therapeutic interventions. Increased awareness among healthcare professionals and patients about the benefits and applications of medical isotopes has contributed to their adoption. Educational initiatives, professional development programs, and patient advocacy efforts have helped disseminate information about the role of medical isotopes in healthcare.
The expansion of the healthcare sector in Canada creates growth opportunities for companies involved in the production, distribution, and utilization of medical isotopes. According to data released by the Canadian government in 2023, provinces and territories will receive an additional $46.2 billion in financing as part of a $196.1 billion ten-year government investment to enhance health care services for all Canadians. Hence, the growing healthcare sector and pharmaceutical industry in the region is propelling the market’s growth.
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 U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Mallinckrodt PLC
- Bayer AG
- GE HealthCare Technologies, Inc.
- Canadian Nuclear Laboratories (Atomic Energy Of Canada Limited)
- ITM Isotope Technologies Munich SE
- Siemens Healthineers AG
- Eczacibasi-Monrol
- NorthStar Medical Radioisotopes, LLC
- Nordion Inc. (Sotera Health LLC)
- Iba SA
By Type
- Radioisotopes
- Stable Isotopes
- Hospitals
- Diagnostic Centers
- Research Institutes
- Diagnostic
- Nuclear Therapy
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Medical Isotope Market, by Type
- 1.4.2 North America Medical Isotope Market, by End User
- 1.4.3 North America Medical Isotope Market, by Application
- 1.4.4 North America Medical Isotope Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. Recent Strategies Deployed in Medical Isotopes Market
- Chapter 5. North America Medical Isotope Market by Type
- 5.1 North America Radioisotopes Market by Region
- 5.2 North America Stable Isotopes Market by Region
- Chapter 6. North America Medical Isotope Market by End User
- 6.1 North America Hospitals Market by Country
- 6.2 North America Diagnostic Centers Market by Country
- 6.3 North America Research Institutes Market by Country
- Chapter 7. North America Medical Isotope Market by Application
- 7.1 North America Diagonostic Market by Country
- 7.2 North America Nuclear Therapy Market by Country
- Chapter 8. North America Medical Isotope Market by Country
- 8.1 US Medical Isotope Market
- 8.1.1 US Medical Isotope Market by Type
- 8.1.2 US Medical Isotope Market by End User
- 8.1.3 US Medical Isotope Market by Application
- 8.2 Canada Medical Isotope Market
- 8.2.1 Canada Medical Isotope Market by Type
- 8.2.2 Canada Medical Isotope Market by End User
- 8.2.3 Canada Medical Isotope Market by Application
- 8.3 Mexico Medical Isotope Market
- 8.3.1 Mexico Medical Isotope Market by Type
- 8.3.2 Mexico Medical Isotope Market by End User
- 8.3.3 Mexico Medical Isotope Market by Application
- 8.4 Rest of North America Medical Isotope Market
- 8.4.1 Rest of North America Medical Isotope Market by Type
- 8.4.2 Rest of North America Medical Isotope Market by End User
- 8.4.3 Rest of North America Medical Isotope Market by Application
- Chapter 9. Company Profiles
- 9.1 Canadian Nuclear Laboratories (Atomic Energy of Canada Limited)
- 9.1.1 Company Overview
- 9.1.2 Recent strategies and developments:
- 9.1.2.1 Partnerships, Collaborations, and Agreements:
- 9.1.3 SWOT Analysis
- 9.2 ITM Isotope Technologies Munich SE
- 9.2.1 Company Overview
- 9.2.2 Recent strategies and developments:
- 9.2.2.1 Partnerships, Collaborations, and Agreements:
- 9.2.3 SWOT Analysis
- 9.3 ECZACIBAŞI-MONROL
- 9.3.1 Company Overview
- 9.3.2 Recent strategies and developments:
- 9.3.2.1 Partnerships, Collaborations, and Agreements:
- 9.3.3 SWOT Analysis
- 9.4 NorthStar Medical Radioisotopes, LLC
- 9.4.1 Company Overview
- 9.4.2 Recent strategies and developments:
- 9.4.2.1 Partnerships, Collaborations, and Agreements:
- 9.4.3 SWOT Analysis
- 9.5 Iba SA
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 SWOT Analysis
- 9.6 Mallinckrodt PLC
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 SWOT Analysis
- 9.7 GE HealthCare Technologies, Inc.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expenses
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.7.6 SWOT Analysis
- 9.8 Nordion Inc. (Sotera Health LLC)
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.9 Bayer AG
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expense
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.6 SWOT Analysis
- 9.10. Siemens Healthineers AG (Siemens AG)
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 SWOT Analysis
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