Global Radiopharmaceuticals Market Report 2023: Sector is Expected to Reach $9.53 Billion by 2031 at a CAGR of 7.5% – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Radiopharmaceuticals Market Report and Forecast 2023-2031” report has been added to ResearchAndMarkets.com’s offering.

The global radiopharmaceuticals market value was USD 5 billion in 2022, driven by the increasing prevalence of chronic diseases across the globe. The market value is anticipated to grow at a CAGR of 7.50% during the forecast period of 2023-2031 to achieve a value of USD 9.53 billion by 2031.

Radiopharmaceuticals, also known as radioactive drugs or radiotracers, are a group of pharmaceutical agents containing radioactive isotopes that are used in nuclear medicine for the diagnosis and treatment of various diseases, such as cancer, cardiovascular disorders, and neurological conditions.

Radiopharmaceuticals emit radiation that can be detected by imaging devices, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scanners, enabling physicians to visualize the functioning of organs and tissues, and identify abnormalities at an early stage.

The global radiopharmaceuticals market has experienced significant growth in recent years, driven by factors such as the increasing prevalence of chronic diseases, rising awareness about the benefits of early diagnosis, and advancements in nuclear medicine.

Furthermore, the development of novel radiopharmaceuticals, expansion of therapeutic applications, and growing investments in research and development have contributed to the market’s expansion.

North America: The largest market for radiopharmaceuticals, driven by factors such as the advanced healthcare infrastructure, a strong focus on research and development, and the presence of major radiopharmaceutical manufacturers.

Europe: The second-largest market, with increasing demand for radiopharmaceuticals due to growing awareness about the benefits of early diagnosis and a supportive regulatory framework.

Asia-Pacific: Expected to witness the highest growth rate due to factors such as a rapidly aging population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure.

Market Segmentation

by Product Type

Diagnostic Nuclear Medicine

• SPECT Radiopharmaceuticals
• Technetium-99m
• Thallium-201
• Gallium-67
• Iodine-123
• Other

PET Radiopharmaceuticals

• F-18
• RU-82
• Others

Therapeutic Nuclear Medicine

• Alpha Emitters
• Ra-223

Brachytherapy Isotopes

• Intoiodine-125
• Palladium-103
• Cesium-131
• Iridium-192
• Other brachytherapy isotopes

Beta Emitters

• Intoiodine-131
• Yttrium-90
• Samarium-153
• Lutetium-177
• Rhenium-186
• Other beta emitters

by Applications

• Diagnostic Applications

SPECT Applications

• Cardiology
• Bone Scans
• Thyroid Applications
• Pulmonary Scans
• Other SPECT Applications

PET Applications

• Oncology
• Cardiology
• Neurology
• Other PET applications

Therapeutic Applications

• Thyroid Indications
• Bone Metastasis
• Lymphoma
• Endocrine Tumors
• Other Indications

by Volume Assessment

• Diagnostic Procedures
• Therapeutic Procedures

by Source

• Nuclear Rectors
• Cyclotrons

by End User

• Hospitals
• Ambulatory Surgical Centres
• Diagnostic Centres
• Cancer Research Institutes
• Others

Key Trends in the Radiopharmaceuticals Market

Some key trends of the market are as follows:

• Development of novel radiopharmaceuticals: The introduction of new radiopharmaceuticals with improved diagnostic and therapeutic properties has expanded the range of clinical applications and driven market growth
• Expansion of therapeutic applications: The increasing use of radiopharmaceuticals for targeted cancer therapy, such as peptide receptor radionuclide therapy (PRRT) and radioimmunotherapy, has contributed to market expansion
• Advancements in nuclear medicine: Technological advancements in imaging devices and the growing adoption of hybrid imaging techniques, such as PET/CT and SPECT/CT, have improved the accuracy and reliability of radiopharmaceutical-based diagnostics

Radiopharmaceuticals Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Cardinal Health
• GE Healthcare
• Lantheus Medical Imaging
• Bayer AG
• Bracco Imaging
• Nordion
• NTP Radioisotopes
• NorthStar Medical Radioisotopes
• Eckert & Ziegler
• Braun Melsungen AG
• Smith Nephew
• Zimmer Biomet
• Otto Bock Healthcare

For more information about this report visit https://www.researchandmarkets.com/r/dsmjje

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