Press release
Radiopharmaceuticals Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Cardinal Health, Curium Pharma, Siemens Healthineers AG, Novartis AG, General Electric Company (GE)
Radiopharmaceuticals Global Market Report
The Business Research Company presents an extensive market research report on the Radiopharmaceuticals Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The radiopharmaceuticals market size has grown steadily in recent years. It will grow from $6.46 billion in 2023 to $6.77 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to rise in healthcare expenditure, government initiatives, convenience of treatment, and changes in lifestyles.
The radiopharmaceuticals market size is expected to see rapid growth in the next few years. It will grow to $10.59 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to increasing geriatric population, increasing prevalence of cancer and cardiovascular diseases, high capital investments, and new product launches. Major trends in the forecast period include collaborating with other companies to boost revenues and improve product quality, investing in plant capacity expansions to cater to the increasing demand, investing in new technologies to meet the emerging demands, adopting 3d printing technology in manufacturing to save costs, invest in innovations, such as theranostics, and establish category leadership, explore in silico modeling for a more rational and scientific approach, invest in ai to reduce r&d costs and save drug development time, invest in technologies catering to cardiology to boost revenues and accept disease-specific approaches for accurate and timely diagnosis of cancer.
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Key Market Players:
Major companies operating in the radiopharmaceuticals market report are Cardinal Health, Curium Pharma, Siemens Healthineers AG, Novartis AG, General Electric Company (GE), IBA Group, Bayer AG, Lantheus Medical Imaging Inc., Bracco Imaging S.p.A., Eckert & Ziegler, Nihon Medi-Physics Co. Ltd., Fujifilm Corporation, ANSTO, Yantai Dongcheng Pharmaceutical Group Co. Ltd., Bracco Imaging SpA., Canon Inc., China Isotope & Radiation Corporation (CIRC), Alliance Medical, Advanced Accelerator Applications, JSC Isotope, Pharm-Sintez, Synektik SA, Polatom, RadioMedic sro, ÚJV Rež, Actinium Pharmaceuticals Inc., Alseres Pharmaceuticals Inc., Avid Radiopharmaceuticals, Fusion Pharmaceuticals, Peregrine Pharmaceuticals Inc., PETNET Solutions Inc., Positron Corporation, Triad Isotopes Inc., Telix Pharmaceuticals, Rosatom, Alliance Medical Group, Hologic Inc., Segami Corporation, Eczacýbaþý-Monrol Nuclear Products, NTP Radioisotopes.
Market Drivers:
The increasing prevalence of cancer and cardiovascular diseases is projected to drive the demand for the radiopharmaceuticals market. Radiopharmaceuticals are emerging as a safe and effective therapeutic option over conventional medicines. Radiopharmaceuticals provide an upper hand to radiologists to treat cancer and cardiovascular diseases due to their benefits such as targeted therapy. Cancer is considered to be the second major cause of death, with around 1 in 6 deaths due to cancer worldwide. According to the International Agency for Research on Cancer (IARC), by 2040, the global burden is projected to increase to 27.5 million active cancer incidents and 16.3 million cancer deaths primarily due to population growth and aging. About 70% of deaths from cancer occur in low- and middle-income countries. Thus, the rising cases of cancer and cardiovascular diseases are expected to surge the demand for radiopharmaceuticals for the treatment of these diseases.
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https://www.thebusinessresearchcompany.com/report/radiopharmaceutical-global-market-report
The radiopharmaceuticals market covered in this report is segmented -
1) By Type: Diagnostic, Therapeutic
2) By Application: Oncology, Cardiology, Gastroenterology, Neuroendocrinology, Musculoskeletal, Respiratory, Nephrology, Other Applications
3) By End User: Hospitals And Ambulatory Surgical Centers, Diagnostic Centers, Cancer Research Institutes
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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