Middle East and Africa Radiopharmaceuticals Market
The MEA radiopharmaceuticals market is analyzed based on Saudi Arabia, UAE, South Africa, and the rest of MEA. Saudi Arabia is one of the largest markets in the region. The prevalence of stroke has been increasing significantly in the Kingdom of Saudi Arabia (KSA), becoming an important cause of illness and deaths in Saudi Arabia. However, research regarding the incidence, prevalence and the socio-demographic properties of stroke is still inadequate as compared with the developed countries. The lack of awareness is expected to be due to lack of appropriate studies being conducted in these specified areas. Stroke is a fast-increasing issue in Saudi Arabia, and it is a leading cause of illness and death. However, in comparison to developed countries, research into the incidence, prevalence, and socio-demographic characteristics of stroke is still lacking due to a lack of adequate studies in these areas. Among Arabs, a large percentage of stroke risk factors are well-known modifiable factors like hypertension and diabetes. The risk of dying from a stroke rises with age, and the risk of dying from a brain hemorrhage is higher. Young stroke accounts for 6–20% of all strokes. Owing to the increasing facilities related to radiopharmaceuticals, increasing prevalence of chronic diseases, the radiopharmaceuticals market in MEA region is anticipated to witness significant growth during the forecast period.
In case of COVID-19, MEA is highly affected especially South Africa. Countries in the Middle East have also widely affected the socio-economic condition by the COVID–19 pandemic. However, the countries have wisely reacted to the COVID–19 pandemic to avoid the spread of infection. Like other regions, lockdown and social distancing were imposed, impairing these trends hindering access to work, regular income, payments, fairs, schools, and healthcare. Therefore, it is expected that the countries have undergone huge losses and are still trying to recover them. The lockdown has widely affected the non-emergency medical services in the region, affecting the medical devices. Countries like Saudi Arabia and UAE are emerging as healthcare destinations in the regions. However, they are dependent on the countries for the resources. The availability of vaccines and other healthcare facilities in the developing countries in the region is expected to provide scope for the market few years. The COVID-19 pandemic has helped the above-mentioned countries enhance their capacity and showcase their abilities for healthcare services. In Saudi Arabia the number of visits for common neurological complaints decreased by 24 percent. In comparison to pre-pandemic, throughout the pandemic period. The most notable example is brain CT scans, which increased by 11.3 percent during the epidemic period. One of the main causes for the decrease in emergency department visits is the fear of catching COVID-19 infection just by visiting hospitals. These factors are likely to have negative impact on the market growth.
Strategic insights for the Middle East and Africa Radiopharmaceuticals 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 2021 | US$ 381.20 Million |
| Market Size by 2028 | US$ 639.78 Million |
| Global CAGR (2021 - 2028) | 7.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Radiopharmaceuticals 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 MEA radiopharmaceuticals market is expected to grow from US$ 381.20 million in 2021 to US$ 639.78 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028. The use of nuclear medicine procedures is expanding rapidly, as PET and SPECT continue to improve the accuracy of detection, localization, and characterization of disease. PET and SPECT are among the nuclear medicine radiology modalities employed in clinical settings. As per the Society of Nuclear Medicine, every year, millions of nuclear medicine procedures are performed with radiopharmaceuticals and imaging instruments to diagnose disease and deliver targeted treatments in the countries across the region. These techniques have also been adopted in immunology, infection, gastroenterology, cardiology, oncology, neurology, and psychiatry, among other fields, for diagnosis and other applications. Advanced nuclear medicines and modern imaging equipment are assisting doctors in diagnosing diseases in a better manner and in less time. Continuous development of new radiopharmaceuticals for the PET/CT and SPECT/CT platforms, which are used in novel clinical applications such as neurology and orthopedics, along with the increasing accuracy of different tumor staging methods, are further contributing to the market growth. In September 2020, Curium launched Detectnet, a positron emission tomography (PET) agent, indicated for the localization of somatostatin receptor-positive neuroendocrine tumors (NETs) in adult patients. Thus, the technological advancements for improving the quality and efficacy of nuclear imaging techniques are favoring the MEA radiopharmaceuticals market growth.
In terms of type, the diagnostic nuclear medicine segment accounted for the largest share of the MEA radiopharmaceuticals market in 2020. In terms of application, the oncology segment held a larger market share of the MEA radiopharmaceuticals market in 2020. Further, the hospitals segment held a larger share of the MEA radiopharmaceuticals market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the MEA radiopharmaceuticals market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Advanced Accelerator Applications, Bayer AG, Bracco Imaging S.p.A, Cardinal Health Inc, Curium, ECZACIBA?I MONROL NUCLEAR PRODUCTS CO., GENERAL ELECTRIC, Nordion, and NTP RADIOISOTOPES.
The Middle East and Africa Radiopharmaceuticals Market is valued at US$ 381.20 Million in 2021, it is projected to reach US$ 639.78 Million by 2028.
As per our report Middle East and Africa Radiopharmaceuticals Market, the market size is valued at US$ 381.20 Million in 2021, projecting it to reach US$ 639.78 Million by 2028. This translates to a CAGR of approximately 7.7% during the forecast period.
The Middle East and Africa Radiopharmaceuticals 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 Middle East and Africa Radiopharmaceuticals Market report:
The Middle East and Africa Radiopharmaceuticals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Radiopharmaceuticals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Radiopharmaceuticals Market value chain can benefit from the information contained in a comprehensive market report.
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