Press release
Global Radiopharmaceuticals Market Size By Procedural Volume (Diagnostic Procedures, Therapeutic Procedures), By Application (Oncology, Cardiology, Neurology), By Geographic Scope And Forecast
Global Radiopharmaceuticals Market
According to Future Market Insights (FMI), the radiopharmaceuticals market would be worth US$ 6.2 Billion in 2022. During the forecast period ranging from 2022 to 2032, radiopharmaceuticals uptake is anticipated to flourish at a value CAGR of 4.3% to reach US$ 9.5 Billion.
North America will account for more than 47% of the global market due to the increased incidence of cancer cases and the growth of the healthcare sector in the United States and Canada.
Several prominent players are Siemens AG, General Electric Co. (GE Healthcare), Curium, Lantheus Holdings, Inc., and Eckert & Ziegler, according to Future Market Insights. Over 90% of sales on the global radiopharmaceuticals market are generated by the top companies.
Global Radiopharmaceuticals Market Definition
Researchers have so far discovered radiopharmaceuticals that can fight the following tumour types: Malignancies that have migrated to the bones include bone cancers and thyroid carcinoma, both of which affect the thyroid gland. Traditional chemotherapy techniques are being replaced in oncology and cancer treatment with more practical therapeutic radiopharmaceuticals, creating new business prospects. Furthermore, compared to X-Rays and other external radiation imaging systems, it not only helps doctors with diagnosis but also offers patients a practical and secure substitute.
Data Points Key Statistics
Radiopharmaceuticals Market Value 2022 US$ 6.2 Billion
Radiopharmaceuticals Market Projected Value (2032) US$ 9.5 Billion
Radiopharmaceuticals Market CAGR (2022 to 2032) 4.3%
The radiopharmaceuticals market is expected to be primarily driven by increased radio-therapeutic penetration. The use of radiopharmaceuticals in the diagnosis and treatment of a wide range of illnesses, such as cancer, cardiovascular disease, and neurological issues, is growing quickly. Due to the characteristics of radioactive decay and the potential for targeted therapeutic irradiation, radiopharmaceuticals are frequently used in the treatment of several illnesses. The rare COVID-19 epidemic, however, restrained market growth.
Global Radiopharmaceuticals Market Scope
Market segments for radiopharmaceuticals include type, application, procedure volume assessment, source, and end user. The expansion of these divisions will enable you to study the industries' scarce growth segments and give users a comprehensive market overview and industry insights to aid in the identification of key market applications.
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Global Radiopharmaceuticals Market: Segmentations
Global Radiopharmaceuticals Market: By Key Players
Bracco Imaging
Bayer
Mallinckrodt
Nordion
Triad Isotopes
Lantheus
IBA Group
GE Healthcare
China Isotope & Radiation
Jubilant Pharma
Eli Lilly
Advanced Accelerator Applications
SIEMENS
Dongcheng
Navidea
Global Radiopharmaceuticals Market: By Types
Diagnostic Radioisotopes
Therapeutic Radioisotopes
Global Radiopharmaceuticals Market: By Applications
Oncology
Cardiology
Global Radiopharmaceuticals Market: Regional Analysis
The countries covered in the regional analysis of the Global Radiopharmaceuticals market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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COVID-19 Impact on Radiopharmaceuticals Market
Due to the financial and resource cuts made during this phase, COVID-19 caused a setback in the market. The pandemic caused significant modifications in radiology departments' clinical practises all across the world. The decline in market income was caused by a delay in the number of non-elective diagnostic procedures and treatment surgeries. Academic medical facilities and universities were urged to stop conducting scientific research in order to increase the social distance's effect. A reduction in funding for these research and development projects also slowed the market's expansion.
Frequently Asked Questions
• At what value did the radiopharmaceuticals market close in 2022?
• What was the last 5 years value CAGR for radiopharmaceuticals market value?
• What is the projected forecast CAGR for the radiopharmaceuticals industry from 2022-2032?
• According to FMI, what is the anticipated market value for radiopharmaceuticals in 2032?
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3. Radioisotopes Used in Radiopharmaceuticals
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