Global Nuclear Medicine/Radiopharmaceuticals Market Outlook 2016: Industry Reviews, Analysis and Performance 2022

Radiopharmaceuticals, also known as molecular nuclear medicine, are pharmaceutical formulations comprising radioactive isotopes used in diagnosis and therapeutics. They are used in tracer quantities to mark, trace, and locate targeted parts of the body. Radiopharmaceuticals are most commonly used for diagnosis of various diseases and syndromes with the help of positron emission tomography (PET) and single proton emission computerized tomography (SPECT). Both these medical imaging devices use a radiation detection camera that captures the radiation emitted from radiopharmaceuticals within the body. Therapeutic radiopharmaceuticals are designed to deliver a healing dose of ionizing radiation to the specific disease site, including cancerous tumors, with high specificity in the body.

These products have addressed the rising need for better diagnostics and targeted therapeutic tools. It has outpaced conventional chemotherapy by more convenient therapeutic radiopharmaceuticals for oncology and cancer treatment. Moreover, it helps physicians in diagnosis, and works as a convenient and safer alternative for the patients when compared to X-rays and other external radiation imaging devices.

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The radiopharmaceuticals market is currently in its growth stage, driven by increasing number of cancer cases and rising awareness about nuclear medicine. Convenience of the treatment with minimally invasive techniques attracts more patients towards radiopharmaceuticals mode of treatment when compared to chemotherapy. However, factors restraining the growth of the market are supply shortages, logistical difficulty, and limited number of trained medical personnel.

The report segments the radiopharmaceuticals market on the basis of type, modality, application, end user, and geography. On the basis of type, the market is segmented into diagnostic, therapeutic, and research. Based on modality, it is segregated into SPECT, PET, alpha emitters, beta emitters, and brachytherapy. According to the application, it is classified into oncology, cardiology, neurology, thyroid, and others. Geographically, it is categorized into North America, Europe, Asia-Pacific, and LAMEA.

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Comprehensive competitive analysis and profiles of major market players, such as Mallinckrodt plc., General Electric Co. (healthcare division), Medtronic, Inc., Bayer AG, Cardinal Health, Inc., Lantheus Medical Imaging, Inc., and IBA Group, are also provided in this report.

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