Global Radiopharmaceuticals Market, By Type (Diagnostic Nuclear Medicine, Therapeutic Nuclear Medicine), Application (Diagnostic Applications, Therapeutic Applications), Procedural Volume Assessment (Diagnostic Procedures, Therapeutic Procedures), Source (Nuclear Reactors, Cyclotrons), End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Cancer Research Institutes, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
The radiopharmaceuticals market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 14.28 billion by 2028 and is expected to grow at a CAGR of 9.80% in the above mentioned forecast period.
Radiopharmaceuticals are the group of pharmaceuticals drug that have radioactivity. They are used as diagnostic and therapeutic agent. Radiopharmaceuticals are exclusive medicinal formulations containing radioisotopes and are used in major clinical area for diagnosis or therapy.
The rise in incidence and prevalence of target conditions is amongst the significant factors expected to fuel the growth and demand of radiopharmaceuticals market. In addition, the alpha radio immunotherapy-based targeted cancer treatment and the rise in initiatives to reduce the demand-supply gap of mo-99 are also anticipated to push the growth in the global radiopharmaceuticals market over the forecast period of 2021 to 2028. Likewise, the increase in application of radioisotopes in the healthcare industry and rapid surge in use of radiopharmaceuticals for the diagnosis and treatment of chronic disease are also projected to lift the growth of the market. Furthermore, the rapid technological advancements in the diagnostics sector is also expected to act as significant factors which will flourish the growth of the radiopharmaceuticals market.
The rise in use of radiopharmaceuticals in neurological applications, rapid increase in research and development for effective and lesser side effects therapies and presence of favorable regulatory scenario are expected to offer significant growth opportunities for the radiopharmaceuticals market in the forecast period of 2021 to 2028.
However, the short half-life of radiopharmaceuticals and high equipment prices are estimated to limit the growth of the radiopharmaceuticals market, whereas, the hospital budget cut scan challenge the growth of the radiopharmaceuticals market.
This radiopharmaceuticals market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the radiopharmaceuticals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Radiopharmaceuticals Market Scope and Market Size
The radiopharmaceuticals market is segmented on the basis of type, application, procedural volume assessment, source, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the radiopharmaceuticals market is segmented into diagnostic nuclear medicine and therapeutic nuclear medicine. Diagnostic nuclear medicine has further been segmented into SPECT radiopharmaceuticals and PET radiopharmaceuticals. SPECT radiopharmaceuticals have further been sub-segmented into technetium-99m, thallium-201, gallium-67, iodine-123 and other. PET radiopharmaceuticals have further been sub-segmented intoF-18, RU-82 and others. Therapeutic nuclear medicine has further been segmented into alpha emitters, brachytherapy isotopes and beta emitters. Alpha emitters have further been sub-segmented intoRa-223. Beta emitters have further been sub-segmented intoiodine-131, yttrium-90, samarium-153, lutetium-177, rhenium-186 and other beta emitters. Brachytherapy isotopes have further been sub-segmented intoiodine-125, palladium-103, cesium-131, iridium-192 and other brachytherapy isotopes.
- The application segment of the radiopharmaceuticals market is segmented into diagnostic applications and therapeutic applications. Diagnostic applications have further been segmented into SPECT applications and PET applications. SPECT applications have further been sub-segmented into cardiology, bone scans, thyroid applications, pulmonary scans and other SPECT applications. PET applications have further been sub-segmented into oncology, cardiology, neurology and other PET applications. Therapeutic applications have further been segmented into thyroid indications, bone metastasis, lymphoma, endocrine tumors and other indications.
- Based on procedural volume assessment, the radiopharmaceuticals market is segmented into diagnostic procedures and therapeutic procedures. Diagnostic procedures have further been segmented into SPECT procedures and PET procedures. Therapeutic procedures have further been segmented into beta emitter procedures, alpha emitter procedures and brachytherapy procedures.
- On the basis of source, the radiopharmaceuticals market is segmented into nuclear reactors and cyclotrons.
- On the basis of end user, the radiopharmaceuticals market is segmented into hospitals, ambulatory surgical centers, diagnostic centers, cancer research institutes and others.
Radiopharmaceuticals Market Country Level Analysis
The radiopharmaceuticals market is analyzed and market size insights and trends are provided by country, type, application, procedural volume assessment, source, and end user as referenced above.
The countries covered in the radiopharmaceuticals market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa(MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region leads the radiopharmaceuticals market owing to the strong presence of a vast patient population suffering from chronic diseases such as cancer, coronary disorders, and strokes and increase in R&D for effective and lesser side effects therapies. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the large pool of geriatric populations requiring invasive therapies for the treatment of the rise in cases of cardiovascular diseases.
The country section of the radiopharmaceuticals market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The radiopharmaceuticals market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for radiopharmaceuticals market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the radiopharmaceuticals market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Radiopharmaceuticals Market Share Analysis
The radiopharmaceuticals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to radiopharmaceuticals market.
The major players covered in the radiopharmaceuticals market report are Cardinal Health, Curium, GENERAL ELECTRIC COMPANY, Lantheus Medical Imaging, Inc., Bayer AG, Bracco Diagnostic Inc., Eczacibasi Monrol, Nordion (Canada) Inc., Advanced Accelerator Applications, NTP, Mallinckrodt., Eli Lilly and Company, Jubilant Pharma Limited, Actinium Pharmaceuticals, Inc., Merck & Co., Inc., Navidea Biopharmaceuticals, Inc., Eckert & Ziegler., Siemens Healthcare Private Limited, Novartis AG, and Beijing International Pharmaceutical Technology Co., Ltd., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Radiopharmaceuticals Market
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