Pre & Post COVID-19 Impact Analysis on Global radiopharmaceuticals Market to Show Tremendous Growth by 2027 | Leading Players-Cardinal Health, Mallinckrodt., General Electric Company, Lantheus Medical Imaging, Inc., Bayer AG
The Global radiopharmaceuticals market report estimates 2018 - 2025 market development trends for industry. Analysis of upstream raw materials, downstream demand, and current market dynamics is also performed here. The report analyses some of the challenges that industry may have to face during the growth. This report also discusses about what technologies need to be worked on in order to incentivize future growth, the effects they will have on the market, and how they can be used. Furthermore, Global radiopharmaceuticals market research report also provides a watchful investigation of the current state of the market which covers several market dynamics.
The global radiopharmaceuticals market is expected to rise to an estimated value of USD 11.85 billion by 2026 registering a substantial CAGR of 9.30% in the forecast period of 2019-2026. In the rise in market can be attributed to increasing prevalence of cancer and cardiovascular chronic diseases, rising health expenditure and technological advancements.
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Global radiopharmaceuticals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of radiopharmaceuticals for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Radiopharmaceuticals Market
Few of the major market competitors currently working in the radiopharmaceuticals market are Cardinal Health, Mallinckrodt., General Electric Company, Lantheus Medical Imaging, Inc., Bayer AG, Bracco Imaging S.p.A., Nordion (Canada) Inc., Advanced Accelerator Applications, Surgery Theater, Positron Corporation, NTP, IsoPET, Eli Lilly and Company., Jubilant Pharma. LLC, Actinium Pharmaceuticals, Inc., Immunomedics, Inc., Areva Pharma, Merck & Co., Inc., Navidea Biopharmaceuticals, Inc., Eckert & Ziegler., Siemens Healthcare Private Limited, Novartis AG, Curium, among others.
Key Developments in the Market:
In April 2018, Cyclopharma has entered into an agreement to sell all its radiopharmaceutical manufacturing and commercialization activities to Curium. With this acquisition, Curium would be able to expand its manufacturing, development and designs of new compounds, thereby expanding its radiopharmaceutical business to soon become a world leader
In January 2018, Advanced Accelerator Application (AAA) received the permission from USA's FDA to use Lutathera for treating a type of cancer which affects pancreas/ gastrointestinal tract i.e. Gastroenteropancreatic Neuroendocrine Tumors (GEP-NETs). This is the very first time approval has been given to use a radiopharmaceutical for treating GEP-NETs. Thus, with this approval, radiopharmaceuticals have now been approved to treat a whole new disease, thereby expanding its market, which would significantly contribute towards the growth of radiopharmaceuticals market globally in the forecasted period
Market Definition: Global Radiopharmaceuticals Market
Radiopharmaceuticals are a group of pharmaceuticals drug which have radioactivity. It can be used as diagnostic and therapeutic agent. Radiopharmaceuticals are unique medicinal formulations containing radioisotopes which are used in major clinical area for diagnosis or therapy. The procedures and facilities for the production, use, and storage of radiopharmaceuticals are subject to licensing by national or regional authorities. This licensing includes compliance both with governing radioactive materials and with those regulations governing pharmaceutical preparations. Additional regulations may apply for issues such as transportation or dispensing of radiopharmaceuticals.
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Increasing prevalence of cancer and cardiovascular chronic diseases, which is creating need for early diagnosis and treatment
Rising healthcare expenditure boosts the growth of this market
Growing awareness about the benefits of radiopharmaceuticals amongst healthcare providers also expands the growth of this market
Technological advancements an developments which allows the use of radio-labeled peptides and monoclonal antibodies for the diagnosis and treatment of cancerous tumors
Increasing preference of SPECT and PET scans and growing preference of disease targeted cancer therapy
Stringent regulatory guidelines and high cost of devices using radioisotopes
Short half-life of radiopharmaceutical
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Reasons to Purchase this Report
Current and future of global radiopharmaceuticals market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
All segmentation provided above in this report is represented at country level
All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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