Radiopharmaceuticals Market: Size, Share, Trends, Growth Analysis And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Radiopharmaceuticals Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $10.59 billion In 2028 At A CAGR Of 11.8% :

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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Radiopharmaceuticals Market Major Segments
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

Key Driver - Increasing Cancer And Cardiovascular Disease Prevalence Fuels Demand For Radiopharmaceuticals

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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Prominent Trend - Expanding Manufacturing Facilities To Meet Growing Demand In The Radiopharmaceuticals Market

Many companies are adopting various strategic initiatives, such as opening a new manufacturing facility and expanding plant capacity, which is gaining significant popularity in the radiopharmaceuticals market. For instance, ITM Isotopen Technologien Munchen AG (ITM) announced the launch of its new manufacturing facility in the Munich area to increase the production capacity of high-purity (n.c.a.) Lutetium-177 and no-carrier-added (n.c.a.) Lutetium-177 containing radiopharmaceuticals. Lutetium-177 is popular under the brand EndolucinBeta and is an innovative isotope used in cancer therapy. This is the company's step towards meeting the high demand for quality medical isotopes for precision oncology worldwide.

Radiopharmaceuticals 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 Řež, 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.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the global radiopharmaceuticals market in 2023. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the radiopharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Radiopharmaceuticals Market Report Structure
3. Radiopharmaceuticals Market Trends And Strategies
4. Radiopharmaceuticals Market - Macro Economic Scenario
5. Radiopharmaceuticals Market Size And Growth
…..
27. Radiopharmaceuticals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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