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Diagnostic Radioisotopes Market Growth Drivers, Strategic Analysis, Market Share, Key Trends And Forecast To 2033
Diagnostic Radioisotopes Market Growth
As per the report, the diagnostic radioisotopes market size has grown strongly in recent years. It will grow from $5.06 billion in 2023 to $5.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The diagnostic radioisotopes market size is expected to see strong growth in the next few years. It will grow to $8.06 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
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Rising Burden Of Cancer Is Driving The Growth Of The Diagnostic Radioisotopes
The rising burden of cancer is expected to propel the growth of the diagnostic radioisotopes market going forward. Cancer refers to a disease in which abnormal cells divide uncontrollably and destroy body tissue. The rising burden of cancer is due to lifestyle choices, such as smoking, obesity, lack of physical activity, exposure to carcinogens, genetic predisposition, and environmental factors. Radioisotopes are powerful tools in cancer management, enabling precise diagnosis, targeted treatment, and effective monitoring of cancer progression or response to therapy. For instance, in October 2023, according to a report by the European Commission, a Europe-based governing body, new cancer cases increased by 2.3 % from 2020, reaching 2.74 million in 2022. Similarly, cancer deaths saw a 2.4 % increase compared to 2020. Therefore, the rising burden of cancer is driving the growth of the diagnostic radioisotopes market.
Technological Innovation To Drive The Nuclear Medicine Radioisotopes
Major companies operating in the diagnostic radioisotopes market are focused on developing advanced radiopharmaceutical technology to enhance diagnostic accuracy, improve patient outcomes, and broaden the applications of nuclear medicine in healthcare. Advanced radiopharmaceutical technology refers to the development of innovative compounds and techniques for precise imaging and targeted therapy in nuclear medicine. For instance, in March 2022, Bracco Group, an Italy-based diagnostic imaging company, launched Blue Earth Therapeutics, a subsidiary to advance the development of next-generation therapeutic radiopharmaceutical technology. This subsidiary is focused on developing precision-targeted therapeutic radiopharmaceuticals, initially targeting prostate cancer, with plans to expand into additional disease areas in oncology.
The diagnostic radioisotopes market covered in this report is segmented -
1) By Radioisotope: Technetium-99m, Thallium-201, Gallium-67, Iodine-123, FluoroDeoxyGlucose (FDG), Rubidium-82, Other Radioisotopes
2) By Imaging Modality: Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), Beta Emitters
3) By Application: Oncology, Cardiology, Other Applications
4) By End User: Hospitals, Specialty Clinics, Diagnostic Centers, Academic And Research Institutes, Other End Users
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Major companies operating in the diagnostic radioisotopes market are Cardinal Health Inc., Sumitomo Heavy Industries Ltd., BWX Technologies Inc., Lantheus Holdings, Curium Pharma, Clarity Pharmaceuticals, Bracco Diagnostic Inc., Ion Beam Applications S.A., Nordion Inc., Eckert & Ziegler AG, NorthStar Medical Radioisotopes LLC, NTP Radioisotopes SOC Ltd, Global Medical Solutions Ltd., Isotopia Molecular Imaging Ltd., Cyclopharm Limited, Trasis NV, Orano Med LLC, ARTMS Inc., Radiomedix Inc., Coqu RadioPharmaceuticals Corp., IsoTherapeutics Group LLC
Contents of the report:
1. Executive Summary
2. Diagnostic Radioisotopes Market Report Structure
3. Diagnostic Radioisotopes Market Trends And Strategies
4. Diagnostic Radioisotopes Market - Macro Economic Scenario
5. Diagnostic Radioisotopes Market Size And Growth
…..
27. Diagnostic Radioisotopes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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