Press release
Asia Pacific Radiopharmaceuticals Market to Hit USD 5,532.66 Million by 2034, Expanding at a CAGR of 10.3%
Asia Pacific Radiopharmaceuticals Market
Market Summary:
Radiopharmaceuticals are drugs that comprise, among other components, radioactive configurations of chemical elements known as radioisotopes. Relying on the kind of radiation that the radioisotopes generate, they can be utilized to detect several different organs, such as the brain, bone, kidney, and heart, and cure cancer and hyperthyroidism. Radiopharmaceuticals are administered to patients by mouth or injection and can be observed and inspected with external medical devices and tests.
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Radiopharmaceuticals contain molecules that are designed to traverse within the body of the patient until they reach their earmarked tissue or organ. For instance, specific radiopharmaceuticals are sugar resembling their radioactive atoms are a component of a matter that is excessively homogenous to sugar, a glucose analog. As tumors deplete more glucose than any other substance of the body, the sugar-homogenous drugs traverse within the patient's body and get soaked up to an elevated degree by the tumor cells that will consume the sugar and expose the tumor.
Market Drivers:
Growing Chronic Illnesses: The growing existence of chronic illnesses such as cardiovascular disorders, cancer, and neurological illnesses is credited to the growing aging population and lifestyle-linked probability elements. In 2023, the Indian Council of Medical Research (ICMR) approximated that the aggregate of cancer cases in India exceeded 1.4 million, underscoring the requirement for progressive diagnostics and treatment solutions due to the growing illness ratio driving up the Asia Pacific radiopharmaceuticals market growth.
Advancements in Molecular Imaging: Advancements in molecular imaging such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT), are enhancing disease identification at a premature stage by enhancing diagnostic preciseness and productivity.
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Key Market Players:
The competitive landscape merges regional contenders and country players vying to seize the Asia Pacific market through strategic initiatives, inventions, and regional augmentation. Some of the prominent players operating in the market include:
• Bayer AG
• Bracco Diagnostic Inc.
• Cardinal Health
• Curium Pharma
• GE Healthcare
• IBA Radiopharma Solutions
• Lantheus.
• Nihon Medi-Physics Co., Ltd.
• Nordion, Inc.
• NTP
• PDRadiopharma Inc.
• Siemens Healthcare Private Limited
• Telix Pharmaceuticals Limited.
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Segment Categorization:
The report includes segmentation of the Asia Pacific radiopharmaceuticals market based on type, application, end use, and country. Based on type, the diagnostic segment dominated the market in 2024 owing to the growing dependence on nuclear imaging for premature disease diagnosis.
Based on end use, the hospitals and clinics segment is projected to register the fastest growth owing to growing funding in healthcare framework and nuclear medicine facilities.
Asia Pacific Radiopharmaceuticals Industry Developments - April 2024
• RIKEN Advances Targeted Cancer Treatment: RIKEN has achieved a breakthrough in cancer therapy with the successful production of astatine-211, a promising radioisotope for targeted radiopharmaceutical applications. Utilizing advanced particle accelerator technology, RIKEN has streamlined the production process, enabling Japan's first clinical trial of an astatine-211-based anticancer drug at Osaka University Hospital.
• BAMF Health and Nihon Medi-Physics Launch Pancreatic Cancer Imaging Trial: In a significant step forward for early cancer diagnosis, BAMF Health and Nihon Medi-Physics (NMP) initiated the first clinical trial using NMK89, an innovative radiopharmaceutical designed to target pancreatic cancer. This trial marks a pivotal move toward enhancing early detection and evaluating the potential for future targeted therapeutic applications.
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By Type Outlook (Revenue, USD Million, 2020-2034)
• Diagnostic
• Therapeutic
By Application Outlook (Revenue, USD Million, 2020-2034)
• Cancer
• Cardiology
• Others
By End Use Outlook (Revenue, USD Million, 2020-2034)
• Hospitals and Clinics
• Medical Imaging Centers
• Others
Country Overview:
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
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