Radiopharmaceuticals Market Size to Surpass USD 15,317.05 Million by 2030
Global Radiopharmaceuticals Market report not only aids to save valuable time but also adds credibility to the work that has been done to grow the business. By applying market intelligence for this market report, industry expert measure strategic options, summarize successful action plans and support companies with critical bottom-line decisions. To accomplish maximum return on investment (ROI), it’s very essential to be acquainted with market parameters such as brand awareness, market landscape, possible future issues, industry trends and customer behaviour where this report comes into play. Another major part of wide ranging Global Radiopharmaceuticals Market report is the competitive landscape which gives a clear insight into the market share analysis and actions of key industry players
According to the World Health Organization, chronic diseases account for nearly 70% of all deaths worldwide, with cardiovascular disease being the primary cause. The rising prevalence of chronic diseases is increasing due to many variables, including an aging population, sedentary lifestyles, poor nutrition, and environmental factors. Radiopharmaceuticals can help healthcare providers to manage chronic diseases more efficiently and effectively.
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The increasing healthcare expenditure on advancement and drug development is expected to give opportunities to the market. However, the growing use of alternative treatments may challenge the market growth. Various companies are taking initiatives that gradually lead to market growth.
Data Bridge Market Research analyzes that the global radiopharmaceuticals market is expected to reach a value of USD 15,317.05 million by 2030, at a CAGR of 6.5% during the forecast period of 2023-2030.
Radiopharmaceuticals contains a radioactive substance in association with one or more ingredients that is intended to diagnose, stage a disease, monitor treatment, or provide therapy. Radiopharmaceuticals include a group of radioactive agents used for either diagnostic or therapeutic interventions. These are the pharmaceuticals that incorporate a radionuclide. Most radiopharmaceuticals are a combination of a radioactive nuclide or radionuclide, and a biologically active molecule or drug that acts as a carrier and determines localization and biodistribution.
Driver
- The Growing Demand for Radiopharmaeuticals in Diagnostics and Clinical Use
Radiopharmaceuticals have become essential in helping to diagnose organs and treat pathological disorders. They are utilized in diagnostic imaging and radiotherapy. Diagnostic radiopharmaceuticals possess no pharmacological effects and their administration is also not considered to be associated with relevant clinical side effects.
The number of radiopharmaceuticals in clinical use is rapidly growing, thus, allowing the medical community better access to detail information on the characteristics of the different types of tumors. Radionuclides are also gaining importance by providing palliative and curative treatment for an increasing number of malignant diseases.
For Instance,
- In April 2021, as per International Atomic Energy Agency article, the radionuclides can be paired for therapeutic and diagnostic applications and have the potential for widespread production with established methods for separation and radiolabeling
Radiopharmaceuticals are used to diagnose complex diseases such as cancer and have been proven efficient in clinical use, which increases its demand and hence act as a driver for the global radiopharmaceuticals market.
Market Developments
- In October 2023, IBA launched AKURACY which is an integrated solution for cardiac pet imaging at eacvi meeting in Barcelona. The company believes and stated that this is a unique integrated solution for pet myocardial perfusion imaging
- In April 2023, Lantheus and POINT Biopharma announced FDA Grants Fast Track Designation for ¹⁷⁷Lu-PNT2002 for the treatment of metastatic castration resistant prostate cancer. The company stated that radioligand therapy is quickly becoming another pillar of cancer treatment
- In April 2023, Eckert & Ziegler received the manufacturing authorization for Lutetium-177 in GMP grade from the German authority for the marketing authorization of Lutetium-177 as a drug and also for the use of this radioisotope as a starting material for the manufacture of radiopharmaceuticals. The company believes this may help in the treatment of neuroendocrine tumours and prostate cancer
- In December 2022, Novartis received approval for Pluvicto as the first targeted radioligand therapy for the treatment of prostate cancer. The company believes that this will help in advancing a broad portfolio of radioligand therapies to treat cancer globally
- In September 2022, Bracco announced FDA approval of gadopiclenol injection, a new macrocyclic high-relativity gadolinium-based contrast agent. The company believes that this will help to use with MRI in adults and pediatric patients aged 2 years and older to detect and visualize lesions in the central nervous system
- In November 2020, Jubilant Radiopharma and SOFIE Biosciences Ink made a strategic partnership deal to further advanced the field of molecular imaging & therapeutics. The company believes this will help to grow production capacity and will also help in advancing its theranostic pipeline
Report Scope and Market Segmentation
| Report Metric | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Year | 2021 (Customizable to 2015 – 2020) |
| Quantitative Units | Revenue in USD Million |
| Segments Covered | By Type (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), Application (Diagnostic and Therapeutic), Source (Nuclear Reactors and Cyclotrons), End User (Hospitals, Diagnostic Centers, Cancer Research Institutes, Ambulatory Surgical Centers, and Others) |
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Major Players
Cardinal Health (U.S.), Advanced Accelerator Applications, A Novartis Company (France), Lantheus (U.S.), Curium (France), GE HealthCare (U.S.), Jubilant Radiopharma, A Jubilant Pharma Company (India), China lsotope & Radiation Corporation. (China), Siemens Healthcare GmbH (Germany), Bracco (U.S.), NTP (South Africa), Eckert & Ziegler (Germany), SHINE Technologies, LLC (U.S.), Eczacıbaşı-Monrol (Turkey), IBA Worldwide (Belgium), Global Medical Solutions (U.S.), BWX Technologies. Inc (U.S.), Institute of Isotopes (Hungary), Coquí Radiopharmaceuticals Corp. (U.S.), Evergreen Theragnostics, Inc. (U.S.), Isotope JSC (Russia), and PharmaLogic Holdings Corp. (U.S.) among others
Radiopharmaceuticals Market Market Scope
Type
- Diagnostic Radiopharmaceuticals
- Therapeutic Radiopharmaceuticals
On the basis of type, the market is segmented into diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals.
Application
- Diagnostic
- Therapeutic
On the basis of application, the market is segmented into diagnostic and therapeutic.
Source
- Nuclear Reactors
- Cyclotrons
On the basis of source, the market is segmented into nuclear reactors and cyclotrons.
End User
- Hospitals
- Diagnostic Centers
- Cancer Research Institutes
- Ambulatory Surgical Centers
- Others
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
TOC:
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF THE GLOBAL RADIOPHARMACEUTICALS MARKET
1.4 LIMITATIONS
1.5 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 MARKETS COVERED
2.2 GEOGRAPHICAL SCOPE
2.3 YEARS CONSIDERED FOR THE STUDY
2.4 CURRENCY AND PRICING
2.5 DBMR TRIPOD DATA VALIDATION MODEL
2.6 MULTIVARIATE MODELLING
2.7 PRODUCT TYPE LIFELINE CURVE
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS
2.9 DBMR MARKET POSITION GRID
2.1 MARKET TESTING TYPE COVERAGE GRID
2.11 VENDOR SHARE ANALYSIS
2.12 SECONDARY SOURCES
2.13 ASSUMPTIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 LIST OF CYCLOTRONS
6 REGULATORY SCENARIO
7 MARKET OVERVIEW
8 GLOBAL RADIOPHARMACEUTICALS MARKET, BY TYPE
9 GLOBAL RADIOPHARMACEUTICALS MARKET, BY APPLICATION
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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