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Radiosynthesis Equipment Market Trends, Opportunities & Growth Forecast during 2018– 2028 |

06-28-2019 03:22 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Radiosynthesis Equipment Market Trends, Opportunities &

Radiosynthesis is a completely automated synthesis which includes production of radioactive compounds. The process is carried by various nuclear interface modules which are further protected by the lead shielding and is semi-automatically controlled by the computer. Modules are set-up differently depending on the synthesis process and type of product. These Radiosynthesis equipment modules are adapted with the synthesis stages consecutively. Radiosynthesis equipment are also used for molecular labeling and formulation and production of radiotracers. These radioactive tracers are chemical compounds for which atoms are replaced by the radioisotopes. Radioisotopes are used in diagnostic areas with SPECT and PET. Radiosynthesis equipment are easy-to-use and allows scope for customization of radiotracers. Results obtained by these Radiosynthesis equipment can further also be used for research purposes and therapeutic nuclear medicine. Government support for diagnostic related researches favors the production of radiosynthesis equipment. For instance, Department of Energy provided around $1 million phase II grant under the SBIR program for developing micro-scale technology for simple and rapid synthesis of PET probes.

Radiosynthesis Equipment Market: Key Market Participants

A few market participants in the Global Radiosynthesis Equipment market identified across the value chain include: Siemens Healthcare, Optimized Radiochemical Applications, GE Healthcare, IBA Radiopharma Solutions, Eckert & Ziegler Group, Synthra GmbH, Sumitomo Corp, Sofie Biosciences, Scintomics GmbH, Raytest Isotopenmessgerte GmbH, Trasis S.A, and Posi-Med LLC.

Radiosynthesis Equipment Market: Drivers and Restraints-

Radiosynthesis equipment has gained immense popularity for nuclear medicine therapy over the years. Growing researches on radioisotopes, rise in demand for PET and SPECT, and increasing incidence of cancer cases are expected to trigger market growth for radiosynthesis equipment over the forecast period. PET probes are extensively used for diagnostic purposes for diseases like Parkinson’s disease, Alzheimer’s disease, hyperthyroidism, and arthritis. The use of these probes is also expected to fuel the market growth for radiosynthesis equipment. However, high costs associated with radiosynthesis equipment and constant increase in procedure cost that is associated with nuclear medicine therapy might hinder the market growth for radiosynthesis equipment. Low half-life of radiopharmaceuticals and low awareness of radiosynthesis equipment could hamper the growth of radiosynthesis equipment market during the forecast period.

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Radiosynthesis Equipment Market: Segmentation

On the basis of product type, Radiosynthesis Equipment Market can be segmented as:

Fully Automated
Semi-Automated
On the basis of end user, Radiosynthesis Equipment Market can be segmented as:

Hospitals
Radiology Centers
Diagnostic Laboratories
Research Centers
Ambulatory Surgical Centers
On the basis of geography, Radiosynthesis Equipment Market can be segmented as:

North- America
Eastern Europe
Western Europe
Asia-Pacific excluding China & Japan
China
Japan
Middle East and Africa
Latin America
Radiosynthesis Equipment Market: Overview

Manual production of radioactive compounds might lead to exposure to the radiation and cause harm to the pharmacist performing the procedure. Therefore, the new era nuclear medicine therapy and manufacturers involved with the production of radiosynthesis equipment are highly keen on adoption of automated radiosynthesis equipment. Automated radiosynthesis equipment provides improved yield and high quality radiopharmaceuticals for multiple applications. Increase in the prevalence of lifestyle related diseases like cardiovascular diseases and cancer, owing it to the rise in aging population and unhealthy lifestyle; ease in diagnosis; and monitoring by nuclear medicine therapy are major factors boosting the demand for radiosynthesis equipment. Increase support for researches, funding and grants by the government for radiosynthesis equipment is increasing the demand for these equipment, globally. The process of radiosynthesis is expected to start at an early stage than certain non-labelled drugs as few advanced carbon-14 intermediates are available in the market. Researches focusing on automation of radiosynthesis equipment, constant technological advancements and benefits associated to the radiosynthesis equipment is expected to gain market growth for radiosynthesis equipment during the forecast period.

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Radiosynthesis Equipment Market: Region-wise Outlook

North America market for radiosynthesis equipment is expected to grow significantly owing it to the accelerated development of new products and increased diagnostic and radiopharmaceutical related researches. Improved healthcare infrastructure and expenditure is expected to favor the Western Europe market for radiosynthesis equipment during the forecast period. Growing awareness on treatment technologies in China and India is expected to fuel the market for radiosynthesis equipment in the Asia-Pacific region. Enhanced product portfolio and growing number of radiosynthesis equipment manufacturers is expected to fuel market growth for the overall market for radiosynthesis equipment. Further, supply of radiosynthesis equipment is anticipated to become effective and streamlined owing to the improved cGMP guideline given by the FDA. Manufacturers are focused on gaining the additional income by diversifying their product offerings.

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ABOUT US:
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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