LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global radiation syndrome treatment market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate due in the year-over-year growth.
Extensive use of nuclear medicine is one of the major trends being witnessed in the global radiation syndrome treatment market 2019-2023. The advances in the field of diagnostic devices for the treatment of various indications have resulted in the market witnessing a significant increase in the use of nuclear medicines in recent years. These nuclear medicines are used in diagnostic devices such as MRI scanners and PET scanners to help the detection of the disease. With the growing initiatives by governments and vendors toward raising the awareness about the disease, the market is expected to witness an increase in the diagnosis of various indications. These factors are expected to contribute to the growth of the global radiation syndrome treatment market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global radiation syndrome treatment market is the increase in nuclear testing:
Global radiation syndrome treatment market: Increase in nuclear testing
Increasing nuclear testing in South-East Asia in recent years has resulted in the rise in symptoms of radiation toxicity and exposure in nearby countries. Also, various scientists and pharmaceutical companies believe that the increased testing of nuclear launches caused significant damage to the environment and the people around the location. Similarly, the growing terrorists’ activities across the globe have led to an increase in military operations and these activities are leading to the rise in the attention of regulatory authorities to overcome the health-related issues caused due to radiation.
According to a senior analyst at Technavio for research on infectious and rare diseases, “North Korea conducted the biggest nuclear testing in October 2017, and the results show that the damage caused by the testing has resulted in serious health issues in residents in the nearby cities. Similarly, the terror attack of 9/11 has resulted in the US FDA to be actively involved in developing various drugs and vaccines to treat acute radiation syndrome. These factors are expected to contribute heavily to the market growth during the forecast period.”
Global radiation syndrome treatment market: Segmentation analysis
The global radiation syndrome treatment market research report provides market segmentation by disease (HSC syndrome, CNS syndrome, GI syndrome, and cardiovascular syndrome) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for more than 46% share. It was followed by EMEA and APAC respectively. Factors such as the increasing prevalence of radiation syndrome, primarily through the rise in the use of radiation for oncology indications and various initiatives taken by the US government for spreading awareness about radiation toxicity are expected to drive the market in the Americas during the forecast period.
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