Radio Pharmaceutical Market Size and Key trend by 2022; GE Healthcare, Merck & Co. Inc., Bayer Pharma AG, Mallinckrodt Pharma and More

According to a recent study report published by the Market Research Future, The global Radio Pharmaceutical Market is booming and expected to gain prominence over the forecasted period. The Market is estimated to demonstrate a huge growth by 2022, surpassing its previous growth records in terms of value & volume. The global Radio Pharmaceutical Market is estimated to quadruple pervasively in terms of value with a striking CAGR during the forecasted period 2016 – 2022.

The Global Radio Pharmaceuticals market is predominantly driven by the rising importance of radio tracers in the treatment of cancer and cardiovascular diseases. Additionally, emergence of developed methods for employing radioisotopes to impede the maturation of malignant tumours, cells, and tissues by the research institutes has risen the use of radio pharmaceuticals in cancer medications eventually, augmenting the market growth of Radiopharmaceuticals.

On the other hand, some growth restraining factors such as the brief life of radio pharmaceuticals, supply shortages, logistical difficulties, and limited number of trained medical personnel without specified guidelines available for their use in commercial-scale drug production may present challenges to the growth of the global market of Radio pharmaceuticals.

Governments across the globe are pervasively investing in the field of R&D sectors of healthcare which has resulted in facilitating the advancement of nuclear medicine, molecular imaging, and targeted radionuclide therapy. Research in nuclear chemistry and radiochemistry, coupled with accelerator technology and engineering, has enabled the introduction of new radionuclides into the practice of medicine.

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Similarly, progress in synthetic organic and inorganic chemistry laid the groundwork for dozens of compounds labelled with positron emitters or single photon emitters, which are now used in many clinical specialties. These discoveries have resulted from the collaborative efforts of multi-disciplinary teams of scientists and clinician-scientists, ultimately translating new concepts into clinical practice. Three examples are provided in the following sections.

There is a huge demand for new radiopharmaceuticals that can advance the knowledge of human biochemistry and physiology and improve the ability to diagnose and treat diseases in the pharmaceutical industry and in clinical specialties, particularly oncology, cardiology, neurology, and psychiatry.

Key Players for Radio pharmaceutical Market:

Some of the key players in this market are:

GE Healthcare (UK),
Merck & Co. Inc. (US),
Jubilant Pharma. LLC (India),
Bracco Imaging S.p.A (US),
Eczacibasi-Monrol (Turkey),
Bayer Pharma AG (Germany),
IBA Molecular Imaging (United States),
Mallinckrodt Pharmaceuticals (US)

Segments:

Global Radiopharmaceutical market has been segmented on the basis of types which comprises of the rapeutic and diagnostic radiopharmaceuticals, which majorly includes, PET, SPECT, Beta emitter, among others.

On the basis of end users the market is divided into; hospitals, clinics, research facilities and others. On the basis of application market is divided into; cardiology, thyroid, oncology, neurology and others

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This release was published on openPR.