The global radiopharmaceuticals market value was USD 5 billion in 2022, driven by the increasing prevalence of chronic diseases across the globe. The market value is anticipated to grow at a CAGR of 7.50% during the forecast period of 2023-2031 to achieve a value of USD 9.53 billion by 2031.
North America: The largest market for radiopharmaceuticals, driven by factors such as the advanced healthcare infrastructure, a strong focus on research and development, and the presence of major radiopharmaceutical manufacturers.
Europe: The second-largest market, with increasing demand for radiopharmaceuticals due to growing awareness about the benefits of early diagnosis and a supportive regulatory framework.
Asia-Pacific: Expected to witness the highest growth rate due to factors such as a rapidly aging population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure.
Radiopharmaceuticals: Introduction
Radiopharmaceuticals, also known as radioactive drugs or radiotracers, are a group of pharmaceutical agents containing radioactive isotopes that are used in nuclear medicine for the diagnosis and treatment of various diseases, such as cancer, cardiovascular disorders, and neurological conditions. Radiopharmaceuticals emit radiation that can be detected by imaging devices, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scanners, enabling physicians to visualize the functioning of organs and tissues, and identify abnormalities at an early stage.Radiopharmaceuticals Market Scenario
The global radiopharmaceuticals market has experienced significant growth in recent years, driven by factors such as the increasing prevalence of chronic diseases, rising awareness about the benefits of early diagnosis, and advancements in nuclear medicine. Furthermore, the development of novel radiopharmaceuticals, expansion of therapeutic applications, and growing investments in research and development have contributed to the market's expansion.North America: The largest market for radiopharmaceuticals, driven by factors such as the advanced healthcare infrastructure, a strong focus on research and development, and the presence of major radiopharmaceutical manufacturers.
Europe: The second-largest market, with increasing demand for radiopharmaceuticals due to growing awareness about the benefits of early diagnosis and a supportive regulatory framework.
Asia-Pacific: Expected to witness the highest growth rate due to factors such as a rapidly aging population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure.
Radiopharmaceuticals Market Segmentations
Market Breakup by Product Type
Diagnostic Nuclear Medicine
- SPECT Radiopharmaceuticals
- Technetium-99m
- Thallium-201
- Gallium-67
- Iodine-123
- Other
PET Radiopharmaceuticals
- F-18
- RU-82
- Others
Therapeutic Nuclear Medicine
- Alpha Emitters
- Ra-223
Brachytherapy Isotopes
- Intoiodine-125
- Palladium-103
- Cesium-131
- Iridium-192
- Other brachytherapy isotopes
Beta Emitters
- Intoiodine-131
- Yttrium-90
- Samarium-153
- Lutetium-177
- Rhenium-186
- Other beta emitters
Market Breakup by Applications
- Diagnostic Applications
SPECT Applications
- Cardiology
- Bone Scans
- Thyroid Applications
- Pulmonary Scans
- Other SPECT Applications
PET applications
- Oncology
- Cardiology
- Neurology
- Other PET applications
Therapeutic Applications
- Thyroid Indications
- Bone Metastasis
- Lymphoma
- Endocrine Tumors
- Other Indications
Market Breakup by Volume Assessment
- Diagnostic Procedures
- Therapeutic Procedures
Market Breakup by Source
- Nuclear Rectors
- Cyclotrons
Market Breakup by End User
- Hospitals
- Ambulatory Surgical Centres
- Diagnostic Centres
- Cancer Research Institutes
- Others
Market Breakup by Region
North America
- United States of America
- Canada
Europe
- United Kingdom
- Germany
- France
- Italy
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Trends in the Radiopharmaceuticals Market
Some key trends of the market are as follows:- Development of novel radiopharmaceuticals: The introduction of new radiopharmaceuticals with improved diagnostic and therapeutic properties has expanded the range of clinical applications and driven market growth
- Expansion of therapeutic applications: The increasing use of radiopharmaceuticals for targeted cancer therapy, such as peptide receptor radionuclide therapy (PRRT) and radioimmunotherapy, has contributed to market expansion
- Advancements in nuclear medicine: Technological advancements in imaging devices and the growing adoption of hybrid imaging techniques, such as PET/CT and SPECT/CT, have improved the accuracy and reliability of radiopharmaceutical-based diagnostics
Radiopharmaceuticals Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:- Cardinal Health
- GE Healthcare
- Lantheus Medical Imaging
- Bayer AG
- Bracco Imaging
- Nordion
- NTP Radioisotopes
- NorthStar Medical Radioisotopes
- Eckert & Ziegler
- Braun Melsungen AG
- Smith Nephew
- Zimmer Biomet
- Otto Bock Healthcare
Table of Contents
1 Preface
3 Global Radiopharmaceuticals Market Overview
4 Global Radiopharmaceuticals Market Landscape
5 Global Radiopharmaceuticals Market Dynamics
6 Global Radiopharmaceuticals Market Segmentation
7 North America Radiopharmaceuticals Market
8 Europe Radiopharmaceuticals Market
9 Asia Pacific Radiopharmaceuticals Market
10 Latin America Radiopharmaceuticals Market
11 Middle East and Africa Radiopharmaceuticals Market
12 Patent Analysis
13 Grants Analysis
14 Funding Analysis
15 Partnership and Collaborations Analysis
16 Regulatory Framework
17 Supplier Landscape
18 Global Radiopharmaceuticals Market-Distribution Model (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
21 Pricing Models and Strategies (Additional Insight)
Companies Mentioned
- Cardinal Health
- Ge Healthcare
- Lantheus Medical Imaging
- Bayer AG
- Bracco Imaging
- Nordion
- Ntp Radioisotopes
- Northstar Medical Radioisotopes
- Eckert & Ziegler
- Braun Melsungen AG
- Smith Nephew
- Zimmer Biomet
- Hanger Inc.
- Otto Bock Healthcare
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 147 |
Published | May 2023 |
Forecast Period | 2023 - 2031 |
Estimated Market Value ( USD | $ 5.3 Billion |
Forecasted Market Value ( USD | $ 9.5 Billion |
Compound Annual Growth Rate | 7.5% |
Regions Covered | Global |
No. of Companies Mentioned | 14 |