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Radiopharmaceuticals Market Analysis by Key Development Factors, Latest Trends, Market Size, Share and Global Outlook and Forecast 2020-2030
Radiopharmaceuticals Market
The global radiopharmaceuticals market is expected to decline from $5.07 billion in 2019 to $4.78 billion in 2020 at a compound annual growth rate (CAGR) of -5.72%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $5.88 billion in 2023 at a CAGR of 7.13%.
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The radiopharmaceuticals market consists of sales of radiopharmaceuticals and related services by entities (organizations, sole traders, and partnerships) that produce radiopharmaceuticals used in treating cancer, cardiovascular, and other diseases. Radiopharmaceuticals are radioactive compounds administered to the patients, monitored via specific imaging devices, and used for diagnostic and therapeutic purposes.
The high cost of radiopharmaceuticals is anticipated to limit the growth of the market. High costs and short half-life of radiopharmaceuticals are reducing their implementation in hospitals and clinics. The development cost of radiopharmaceuticals is very high compared to that of therapeutic drugs and also undergoes a very lengthy and expensive regulatory process. For instance, the cost of diagnostic radiopharmaceuticals development is $100 to $200 million for 8-10 years in comparison with the cost of pharmaceuticals, which ranges between $600 million to $1.2 billion for 10-12 years. Therefore, the high cost of radiopharmaceuticals is likely to act as a major restraint for market growth.
Radiopharmaceuticals Market Segmentation: -
By Type
Diagnostic
Therapeutic
Others
By Application
Oncology
Cardiology
Gastroenterology
Neuroendocrinnology
Neurology
Nephrology
Others
By End User
Hospitals
Ambulatory Surgical Centers
Diagnostic Centers
Cancer Research Institutes
Others
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Few Points From Table Of Content
1. Executive Summary
2. Radiopharmaceuticals Market Characteristics
3. Radiopharmaceuticals Market Size And Growth
4. Radiopharmaceuticals Market Segmentation
5. Radiopharmaceuticals Market Regional And Country Analysis
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25. Radiopharmaceuticals Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Radiopharmaceuticals Market
27. Radiopharmaceuticals Market Trends And Strategies
28. Radiopharmaceuticals Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Radiopharmaceuticals Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Radiopharmaceuticals Market are Siemens Healthcare Private Limited, Bayer, GE Healthcare, Novartis AG, Cardinal Health.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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3. Radioisotopes Used in Radiopharmaceuticals
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