Nuclear Pharmacy Market Projected to Reach $12.85 Billion by 2031 with a CAGR of 10.6%

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Nuclear Pharmacy Market- (By Type (Diagnostic & Therapeutic Nuclear Medicine), By Application (Diagnostic, Therapeutic)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Nuclear Pharmacy Market is valued at US$ 5.20 Bn in 2022, and it is expected to reach US$ 12.85 Bn by 2031, with a CAGR of 10.6% during a forecast period of 2023-2031.
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Small quantities of radioactive substances (radiopharmaceuticals) are used in nuclear pharmacy to diagnose and treat a wide range of illnesses and ailments. These radiopharmaceuticals are given to patients orally, intravenously, or by inhalation, and they produce radiation that can be picked up by medical imaging equipment. The rising awareness of the potential effects of early and timely diagnosis and the accompanying favorable impact on the management and treatment of chronic illnesses is one of the significant factors driving the nuclear pharmacy imaging market growth.

Nuclear imaging technology advancements, in particular PET/PET-CT, have helped to broaden the uses of this modality beyond oncology to include cardiology, neurology, and infection detection. Additionally, advancements like the creation of CZT-based detectors, which facilitate the simultaneous viewing of physiological and anatomical components, are anticipated to spur the adoption of SPECT-CT systems.