Radiopharmaceutical Market - by Type (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), By Application (Cardiology, Neurology, Oncology, and Other Applications) - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021

Global Radiopharmaceutical market, which was estimated at 4.32 (USD Billion) in 2015 and is predicted to accrue earnings worth 7.13 (USD Billion) by 2021, is set to record a CAGR of nearly 8.8% over 2016-2021.

10-Aug-2016 | Number of pages: 110 | Report Code: ZMR-86 | Report Format : | Status : Published

Abstract

The global Radiopharmaceutical market, which was estimated at 4.32 (USD Billion) in 2015 and is predicted to accrue earnings worth 7.13 (USD Billion) by 2021, is set to record a CAGR of nearly 8.8% over 2016-2021. The report offers valuation and analysis of Radiopharmaceutical market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2013 to 2015 along with a forecast from 2016 to 2021 based on value (USD Billion).

Introduction

Radiopharmaceuticals are a cluster of pharma medicines comprising of radioactive isotopes and they emit radiations. They are utilized for therapeutic or diagnostic interventions. These products are likely to locate on specific tissues as a result of their bio-molecular characteristics. A large number of radiopharmaceuticals are utilized for internal treatment of inflammatory & malignant lesions in the field of nuclear medicine. Radiopharmaceuticals are used for effectively treating various kinds of cancers. With FDA approving many of the radiopharmaceutical agents the treatment potential of these products is gaining significance and recognition across the pharma & healthcare sectors.

Market Growth Drivers

Escalating application of radioisotopes in the healthcare sector and surge in the utilization of the radiopharmaceuticals for detecting & treating chronic ailments will steer the business growth over the years to come. In addition to this, technological breakthroughs witnessed across the healthcare industry will further prompt the expansion of radiopharmaceutical market in the years ahead. Apart from this, surge in the aging population and assessing of novel medicines along with disease indication mortality will steer the business landscape in the forthcoming timespan.

Furthermore, rise in the occurrence of cancer coupled with massive need for nuclear scans for exact diagnosis of chronic ailments are few of the major aspects likely to steer the expansion of the radiopharmaceutical industry over the forecast timespan. Additionally, cost benefits as compared to use of radioactive tracers & access of advanced diagnostic equipment like PET and SPECT are likely to play a major role in the growth of radiopharmaceutical industry over the forthcoming years.

Asia Pacific Market To Grow At Rapid Rate Over Forecast Timespan

The growth of the market in the region over the estimated timeline is due to increase in the presence of radiopharmaceutical firms in China, Russia, Singapore, and India. Apart from this, immense pool of aging population prone to chronic ailments including heart disorders and neurological ailments in the region will prompt the need of minimally invasive treatments and this will further drive the product penetration across medical sector in the sub-continent over the coming decade. Growing awareness about benefits offered by radiopharmaceuticals across the medical fraternity in the sub-continent will further boost the business landscape in the Asia Pacific zone over the forecast timespan.

Key players leveraging the market growth include Jubilant Pharma, Lantheus Medical Imaging, Inc., Mallinckrodt plc, Cardinal Health, Inc., GE Healthcare, Advanced Accelerator Applications S.A., Bracco Imaging S.p.A, Eczacibasi-Monrol Nuclear Products, Nordion, Inc., Bayer Healthcare, IBA Molecular Imaging, and Siemens Healthcare.

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

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

Escalating application of radioisotopes in the healthcare sector and surge in the utilization of the radiopharmaceuticals for detecting & treating chronic ailments will steer the business growth over the years to come. In addition to this, technological breakthroughs witnessed across the healthcare industry will further prompt the expansion of radiopharmaceutical market in the years ahead. Apart from this, surge in the aging population and assessing of novel medicines along with disease indication mortality will steer the business landscape in the forthcoming timespan.

According to Zion market research report, the global Radiopharmaceutical market, which was estimated at 4.32 (USD Billion) in 2015 and is predicted to accrue earnings worth 7.13 (USD Billion) by 2021, is set to record a CAGR of nearly 8.8% over 2016-2021.

Asia Pacific is likely to make noteworthy contributions towards overall market revenue. The regional market growth over 2016-2021 can be credited to increase in the presence of radiopharmaceutical firms in China, Russia, Singapore, and India. Apart from this, immense pool of aging population prone to chronic ailments including heart disorders and neurological ailments in the region will prompt the need of minimally invasive treatments and this will further drive the product penetration across medical sector in the sub-continent over the coming decade. Growing awareness about benefits offered by radiopharmaceuticals across the medical fraternity in the sub-continent will further boost the business landscape in the Asia Pacific zone over the forecast timespan.

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

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