Global Radiopharmaceutical Market Is Anticipated To Cross About USD 7.13 Billion In 2021

03-Jan-2020 | Zion Market Research

A new report has been released by Zion Market Research titled “Radiopharmaceutical Market by Type (Diagnostic Radiopharmaceuticals and Therapeutic radiopharmaceuticals), for Cardiology, Neurology, Oncology and Other Applications- Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. The global radiopharmaceutical market, as per the report, was capitalized at about USD 4.32 Billion in 2015, is projected to attain around USD 7.13 Billion in 2021, developing at over 8.8% CAGR from 2016 to 2021.

Radiopharmaceutical is a treatment utilized in nuclear medicine which has the pharmaceutical unit and radioactive unit. Patient is given nuclear medication in small doses; the patient body becomes radioactive for the small period of time. The radiations released by the body are sensed by a dedicated nuclear medicine camera and captures pictures of the inner body organs to monitor its function. Gamma radiations are given off by a majority of the radiopharmaceuticals utilized in diagnostic nuclear medicine procedures. In nuclear medicine, the most ordinarily utilized gamma-emitting radionuclide is 99mTechnetium that is labeled to diverse sorts of pharmaceuticals to frame diagnostic imaging agents, that is, radiopharmaceuticals.

Browse the full "Radiopharmaceutical Market by Type (Diagnostic Radiopharmaceuticals and Therapeutic radiopharmaceuticals), for Cardiology, Neurology, Oncology and Other Applications- Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at 

In the coming period, the global radiopharmaceuticals market is anticipated to progress at a noteworthy pace on account of rising inclination to disease targeted cancer therapy, rising patient consciousness for correct disease diagnosis, and mounting applications of molecular imaging. Nevertheless, factors like stringent regulatory rules and shorter half-life of radiopharmaceuticals can obstruct the growth of radiopharmaceutical market globally.

Radiopharmaceutical market is bifurcated on the basis of applications and type. The global radiopharmaceutical market, based on type, is bifurcated into therapeutic radiopharmaceuticals and diagnostic radiopharmaceuticals. The overall radiopharmaceutical market was governed by the diagnostic radiopharmaceuticals market in terms of market share on account of the high rate of using molecular imaging methods in the medical diagnosis field. In 2015, the radiopharmaceuticals market was ruled by the SPECT modality segment. The PET modality segment is anticipated to develop at a relatively greater rate in years to come as a result of the better image quality and greater diagnostic precision. Furthermore, the expansion of PET segment is credited to rising R&D activities, particularly in emerging nations, and increasing scope of applications of radiopharmaceutical in thyroid, bone pain palliation, and oncology.

Based on application, the radiopharmaceutical market is bifurcated as neurology, cardiology, oncology, and other. In 2015, the oncology segment recorded for over half of the share of global radiopharmaceuticals market. This segment is anticipated to remain in the same trend on account of the perpetual increase in the incidence of cancer cases.

In 2015, North America accounted for the biggest share in the entire radiopharmaceuticals market. On the contrary, the Asia Pacific radiopharmaceuticals market is projected to expand at the rapid pace during the forecast period as a result of the increase in the demand for SPECT and PET devices. The expansion was promoted by increasing patient cognizance relating to oncology and cardiovascular diseases. The prominent Asia Pacific nations, like Japan, China, and India are likely to display a noteworthy growth during the projected period.

The key players of the radiopharmaceutical market are Bayer Healthcare, GE Healthcare, Eczacibasi-Monrol Nuclear Products, Advanced Accelerator Applications S.A., IBA Molecular Imaging, Inc., Lantheus Medical Imaging, Inc., Mallinckrodt plc, Bracco Imaging S.p.A, Siemens Healthcare, Nordion, Cardinal Health, Inc., and Jubilant Pharma.

The report segments the global radiopharmaceuticals market as:

Radiopharmaceuticals Market: Type Segment Analysis

  • Diagnostic Radiopharmaceuticals
    • SPECT
    • PET
  • Therapeutic radiopharmaceuticals
    • Beta emitters
    • Alpha emitters
    • Brachytherapy isotopes

Radiopharmaceuticals Market: Application Segment Analysis

  • Cardiology
  • Neurology
  • Oncology
  • Other

Radiopharmaceuticals Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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