Press release
Radiopharmaceuticals Market Size Forecasted To Achieve $10.59 Billion By 2029 With Steady Growth
Radiopharmaceuticals
How Big Is the Radiopharmaceuticals Market Size Expected to Be by 2034?
The radiopharmaceuticals market has shown steady growth, expected to rise from $6.46 billion in 2024 to $6.77 billion in 2025 at a CAGR of 4.7%. This expansion is attributed to increased healthcare spending, government initiatives, the convenience of treatment, and lifestyle changes.
The radiopharmaceuticals market is expected to grow rapidly, reaching $10.59 billion in 2029 with a CAGR of 11.8%. The growth is driven by the aging population, the increasing prevalence of cancer and heart disease, high investments, and new product innovations. Trends include company collaborations to boost revenue and product quality, expansion of plant capacities, AI-driven drug development, and innovations for cardiology treatments.
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What Are the Emerging Segments Within the Radiopharmaceuticals Market?
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
Subsegments:
1) By Diagnostic: Positron Emission Tomography (PET) Radiopharmaceuticals, Single Photon Emission Computed Tomography (SPECT) Radiopharmaceuticals
2) By Therapeutic: Alpha Emitters, Beta Emitters, Brachytherapy
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What Long-Term Drivers Are Shaping Radiopharmaceuticals Market Trends?
The radiopharmaceuticals market is anticipated to grow due to the increasing prevalence of cancer and cardiovascular diseases. Radiopharmaceuticals are emerging as an effective treatment option for these diseases, providing targeted therapies that offer advantages over conventional treatments. In April 2024, the International Agency for Research on Cancer (IARC) reported nearly 20 million new cancer cases in 2022, and the number is expected to increase to 29.9 million by 2040. This rising incidence of cancer and cardiovascular diseases is expected to drive the demand for radiopharmaceuticals.
Who Are the Top Competitors in Key Radiopharmaceuticals Market Segments?
Major companies operating in the radiopharmaceuticals market include 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.
What Trends Are Expected to Dominate the Radiopharmaceuticals Market in the Next 5 Years?
Companies in the radiopharmaceuticals market are increasingly opening new manufacturing plants and expanding production capacity. For instance, ITM Isotopen Technologien Munchen AG (ITM) launched a new facility in Munich to increase production of high-purity Lutetium-177, used in cancer treatment. This move helps the company meet global demand for quality medical isotopes used in precision oncology.
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Which Regions Are Becoming Hubs for Radiopharmaceuticals Market Innovation?
The countries covered in the radiopharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Radiopharmaceuticals Market?
2. What is the CAGR expected in the Radiopharmaceuticals Market?
3. What Are the Key Innovations Transforming the Radiopharmaceuticals Industry?
4. Which Region Is Leading the Radiopharmaceuticals Market?
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