Description
Data Bridge Market Research analyses that the radiopharmaceuticals market is expected to undergo a CAGR of 10.40% during the forecast period. This indicates that the market value, which was USD 4.80 billion in 2021, would rocket up to USD 11.69 billion by 2029. “Diagnostic Applications” dominates the application segment of the radiopharmaceuticals market owing to rising incidences of medical ailments such as diabetes that are responsible for making the lower part of the body symptomatic and vulnerable. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Radiopharmaceuticals Market Analysis and Size
From the name itself, it is clear that radiopharmaceutical are a group of pharmaceutical drugs that possess a high degree of radioactivity. Radiopharmaceuticals are the pharmaceutical formulations that comprises of radioactive isotopes and these medications are can be delivered orally, intravenously or interstitially.
Report Scope and Market Segmentation
Drivers
· Rising prevalence of diseases
Growing rate of acute and chronic diseases all around the globe such as cancer owing to various factors is one of the major factors fostering the growth of the market. Radiopharmaceuticals enables diagnosing the tumour cells in the organs or in the body as a whole. Cancer is the second most leading cause of death worldwide.
· Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted in the nuclear medicine field is also bolstering the market growth rate.
· Growing investment for healthcare facilities
Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, rising awareness about the benefits of alpha radio immunotherapy-based targeted cancer treatment, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rise in initiatives to reduce the demand-supply gap of mo-99 , rising internet penetration rate, increase in application of radioisotopes in the healthcare industry, rising use of radiopharmaceuticals in neurological applications and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges Global 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.
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, short half-life of radiopharmaceuticals, high equipment prices and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, hospital budget cuts especially during the pandemic, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
Global Radiopharmaceuticals Market Scope
The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
· Diagnostic Nuclear Medicine
· Therapeutic Nuclear Medicine
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.
Application
· Diagnostic Applications
· Therapeutic Applications
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.
Procedural Volume Assessment
· Diagnostic Procedures
· Therapeutic Procedures
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.
Source
· Nuclear Reactors
· Cyclotrons
On the basis of source, the radiopharmaceuticals market is segmented into nuclear reactors and cyclotrons.
End User
· Hospitals
· Ambulatory Surgical Centers
· Diagnostic Centers
· Cancer Research Institutes
· Others
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 Regional Analysis/Insights
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 dominates the radiopharmaceuticals market because of the strong base of healthcare facilities, growing overweight population base, strong presence of a vast patient population suffering from chronic diseases such as cancer, coronary disorders, and strokes and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, availability of the well-established infrastructure, presence of key market players, rise in cases of cardiovascular diseases and the growing demand for quality healthcare in the region.
The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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.
Competitive Landscape and Radiopharmaceuticals Market Share Analysis
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.
Some of the major players operating in the radiopharmaceuticals market are:
· Cardinal Health (US)
· General Electric
· Curium (France)
· Lantheus Medical Imaging (US)
· Bayer AG (Germany)
· Bracco Imaging (Italy)
· Eczacýbaþý-Monrol Nuclear Products (Turkey)
· Nordion (Canada)
· Advanced Accelerator Applications (France)
· NTP Radioisotopes (South Africa)
· JSC Isotope (Russia)
· NorthStar Medical Radioisotopes (US)
· Eckert & Ziegler (Germany)
· Braun Melsungen AG (Germany)
· Smith & Nephew plc (Germany)
· Zimmer Biomet (US)
· Hanger Inc. (US)
· Otto Bock Healthcare GmBH (Germany)
· Browse The Table of Contents And List of Figures: https://www.databridgemarketresearch.com/toc/?dbmr=global-radiopharmaceuticals-market
Major TOC of the Global Radiopharmaceuticals Market Report
Chapter One:
· MARKET SEGEMENTATION
· EXECUTIVE SUMMARY
· PREMIUM INSIGHTS
· MARKET OVERVIEW
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