Global Sales Of Diagnostic Radiopharmaceuticals Are Predicted To Rise At A CAGR Of 7.5% And Reach A Valuation Of US$ 7 Billion By 2027
Diagnostic radiopharmaceuticals are a type of medical imaging agent that are used to visualize internal structures and functions of the body. These agents consist of a radioactive material that is attached to a targeting molecule or protein. The radioactive material emits gamma rays that are detected by a special camera, allowing for the creation of images of the target area.
In terms of sales, the global market for diagnostic radiopharmaceuticals is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2026, reaching a total market size of $14.1 billion by the end of the forecast period. This growth is being driven by several factors, including the increasing prevalence of chronic diseases such as cancer, the growing demand for non-invasive diagnostic tools, and the rising adoption of nuclear medicine imaging techniques.
Some of the leading players in the diagnostic radiopharmaceuticals market include GE Healthcare, Siemens Healthineers, Bracco Imaging, Lantheus Medical Imaging, and Cardinal Health. These companies are investing heavily in research and development to develop new and innovative radiopharmaceuticals and imaging technologies, as well as expanding their presence in emerging markets such as Asia-Pacific and Latin America.
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Key findings of the Imaging Agents market study:
- The report provides a present market outlook on Imaging Agents. Additionally, the Imaging Agents market share is anticipated to grow with a CAGR of 6% in the forecast period.
- Regional breakdown of the Imaging Agents market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Imaging Agents vendors in detail.
- Region-wise and country-wise fragmentation of the Imaging Agents market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Imaging Agents market.
- Imaging Agents price, market share, and Trends forecast for assessment period 2022-2027
What is the Outlook for the U.S. Imaging Agents Market?
The U.S. imaging agents market is a sub-segment of the larger diagnostic imaging market and refers to the use of imaging agents, including radiopharmaceuticals, contrast agents, and other types of imaging agents, to enhance the quality and accuracy of medical imaging. The U.S. imaging agents market is expected to grow at a CAGR of 4.9% from 2021 to 2026, reaching a total market size of $15.3 billion by the end of the forecast period. The growth of the market is being driven by several factors, including the increasing prevalence of chronic diseases such as cancer and cardiovascular diseases, the growing demand for non-invasive diagnostic tools, and the rising adoption of molecular imaging techniques.
Radiopharmaceuticals are expected to continue to dominate the U.S. imaging agents market, accounting for the largest share of the market by product type. This is due to the increasing use of molecular imaging techniques such as positron emission tomography (PET) and single photon emission computed tomography (SPECT) in the diagnosis and treatment of cancer and other diseases.
In addition, the increasing demand for personalized medicine and targeted therapies is expected to drive the development of new and innovative imaging agents that can help physicians more accurately diagnose and treat specific patient populations. However, the market is also facing challenges such as high costs associated with imaging procedures, regulatory hurdles, and reimbursement issues, which could impact market growth in the future.
Competitive landscape analysis
Major industry players are also making promotional and marketing efforts to spread the word about the existence of better imaging agents, which should hasten the sector’s expansion in the next years.
Key competitors in the imaging agents market are utilising a number of expansion tactics along with current technical improvements to sustain market rivalry.
- In May 2021, the U.S. FDA authorised Lantheus’ PYLARIFY, a PSMA PET imaging agent for prostate cancer. When used in conjunction with a PYLARIFY injection, it helps to visualise soft tissue, bone, and lymph node metastases, which can help detect advanced or recurrent prostate cancer. This novel approach has enhanced the company’s overall product line.
- In May 2020, TAUVID and AMYVID (Florbetapir F 18 Injection), two products of Avid Radiopharmaceuticals, Inc., an affiliate of Eli Lilly and Company, received FDA approval in the United States. This PET imaging agent provides clinicians with important information regarding Alzheimer’s disease. This clearance helped the company increase its revenue generating and broaden the range of imaging agents it could offer.
Some of the leading companies operating in the market are :
- GE Healthcare
- Eli Lily
- Bayer Healthcare Pharmaceuticals
- Alliance Medical
- Bracco Diagnostics, Inc.
- Aytu BioScience, Inc.
- Curium
- Guerbet Group
- Lantheus Medical Imaging, Inc.
- Trivitron Healthcare
- Beijing Beilu Pharmaceutical Co Ltd.
What insights does the Imaging Agents report provide to the readers?
- Imaging Agents fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Imaging Agents
- Various regulations imposed by the governments on the consumption of Imaging Agents in detail.
Key Segments in Imaging Agents Industry Research
· By Modality:
-
- Diagnostic Radiopharmaceuticals
- X-ray
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Ultrasound
- Others
· By Product:
-
- Iodinated Contrast Media
- Gadolinium-based Contrast Media
- Microbubble Contrast Media
- Barium-based Contrast Media
· By Application:
-
- Oncology
- Cardiology
- Gastrointestinal
- Neurology
- Others
· By End User:
-
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic & Imaging Centers
- Others
· By Region:
-
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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