Radiopharmaceuticals Market Driven By Curium, Lantheus Medical Imaging, Bracco Imaging, NTP Radioisotopes, Advanced Accelerator Applications

According to our latest study on “Radiopharmaceuticals Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Product Type, Application, and End User,” the market is projected to reach US$ 13,818.17 million by 2028 from US$ 7,550.74 million in 2021; it is expected to grow at a CAGR of 9.0% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the radiopharmaceuticals market is primarily attributed to the rising prevalence of chronic diseases, suitability of alpha radioimmunotherapy in targeted cancer treatment, and advancements in nuclear imaging techniques. However, short shelf-life of radiopharmaceuticals and availability of substitutes hinder the market growth.

Cardinal Health, GE Healthcare, Curium, Lantheus Medical Imaging, Bayer AG, Bracco Imaging, Eczacýbaþý-Monrol Nuclear Products, Nordion, Advanced Accelerator Applications, and NTP Radioisotopes are among leading companies operating in the radiopharmaceuticals market.

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Based on type, the radiopharmaceuticals market is bifurcated into diagnostic nuclear medicine and therapeutic nuclear medicine. The diagnostic nuclear medicine segment is holding a larger share of the market and is expected to register a higher CAGR during the forecast period. The market growth for this segmented can be attributed to the availability of diagnostic devices and ease offered by these devices for the diagnosis of various disorders. Moreover, increasing incidence of cardiac diseases, cancer, and neurological disorders is expected to fuel the demand for better diagnosis of these disorders. Radiopharmaceuticals provide better diagnostic information about the functioning of a specific organ, as it uses radiation.

The growth of the market is attributed to the rising prevalence of chronic diseases, suitability of alpha radioimmunotherapy in targeted cancer treatment, and advancements in nuclear imaging techniques. However, the short shelf-life of radiopharmaceuticals and availability of substitutes restrain the market growth. A radiopharmaceutical is a drug that can be used either for diagnostic or therapeutic purposes. Radiopharmaceuticals are radioisotopes that are bound to biological molecules that target specific tissues, organs, or cells within the human body.

The COVID-19 pandemic has profoundly changed hospital activities, including nuclear medicine (NM) practices across Europe. A literature search on PubMed was performed covering COVID-19 studies published up until January 2021. As per the findings, the pandemic strongly challenged NM departments, and a reduction in the workforce has been experienced in every center in Europe. To limit COVID-19 transmission, NM departments introduced restriction measures, such as the rescheduling of non-high-priority procedures.

Radiopharmaceuticals Market – by Type
Diagnostic Nuclear Medicine
SPECT Radiopharmaceuticals
PET Radiopharmaceuticals
Therapeutic Nuclear Medicine
Alpha Emitters
Beta Emitters
Brachytherapy Isotopes

Radiopharmaceuticals Market – by Product Type
Technetium-99m
Thallium-201
Gallium-67
Iodine-131
Copper-64
Other

Radiopharmaceuticals Market – by Application
Oncology
Cardiology
Neurology
Others

Radiopharmaceuticals Market – by End User
Hospitals
Imaging Centers
Academic and Research Centers

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This release was published on openPR.