Global Radiopharmaceuticals Market Size - Industry Trends & Forecast Report 2027 - PDF document

Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) Global Radiopharmaceuticals Market Size - Industry Trends & Forecast Report 2027 S ummary Global Radiopharmaceuticals Market, By Product Type (Diagnost ic Nuclear Medicine (SPECT Radiopharmaceuticals and PET Radiopharmaceuticals) and Therapeutic Nuclear Medicine), By Application (Oncology, Cardiology, Neurology, Endocrinology, and Others), By End User (Hospitals, Specialty Clinics, and Diagnostic Centers) , By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2020 - 2027 A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global radiopharmaceuticals Market was worth USD 4.31 Billion in the year 2020. It is estimated to grow at the CAGR of 6.0%, earning revenue of around USD 6.43 Billion by the end of 2027. Increasing chronic disorders like cancer and cardiovascular diseases across the world due to the aging population, unhealthy food habits contribute to the growth of the Radiopharmaceuticals Market. The high demand for nuclear medicines like single - photon emission computerized tomography (SPECT) and Positron emission tomography (PET) scans for cancer diagnos is and increasing patient awareness for accuracy of this method in the diagnosis led to the market growth. However, the high cost of developing radiopharmaceutical treatment and stringent regulatory requirements are hindering the development of the radioph armaceuticals market . View report Press release Sample report Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) Global Radiopharmaceuticals Market Size - Industry Trends & Forecast Report 202 7 The global radiopharmaceuticals market was worth USD 4.31 Billion in 2020 and is further projected to reach USD 6.43 Billion by 2027, at a CAGR of 6. 0% during 2021 - 2027 (forecast period) . The growth of the market is aided by an increase in cancer cases and the increased use of medical imaging as a diagnostic tool. Other factors contributing to the market's continued growth include improved R&D activiti es, especially in developing economies, and the advancement of radiopharmaceutical applications such as thyroid, oncology, and bone pain palliatio n Global Radiopharmaceuticals Market Overview : Radiopharmaceuticals are pharmace utical formulations that include radioactive isotopes used in diagnosis and therapeutics. They include a radioactive agent used to treat cancer, as well as heart and neurological conditions. Nowadays, medical practitioners are using more convenient therape utic radiopharmaceutical methods in place of traditional chemotherapy for oncology and cancer treatment, which is unlocking new avenues in the radiopharmaceuticals market. Moreover, it helps physicians during diagnosis and works as a suitable and safer sub stitute for patients compared to X - Rays and other external radiation imaging devices . Global Radiopharmaceuticals Market Forecast and Trend s Growth Driver s High demand for early diagnosis in the event of cancer and cardiovascular chronic disease s High demand for single - photon emission computerized tomography ( SPECT) and Positron emission tomograph y (PET) scans to diagnose diseases like cancer and other chronic disorders are contributing to the Radiopharmaceuticals Market. A sharp rise in cancer inc idence and increased use of medical imaging as a diagnostics procedure are driving the growth of the market. Moreover, patients nowadays are becoming more aware of the accuracy of their diagnoses, which in turn is driving the market growth. Additionally, r ising molecular imaging applications are a major contributor to the global radiopharmaceuticals market's growth . Convenience of treatmen t Owing to the ease of the procedure, which requires minimally invasive procedures, patients nowadays prefer radiophar maceuticals over chemotherapy. The increasing number of cardiac patients and the adoption of clear imaging techniques, with the help of investigative equipment such as PET and SPECT, are the factors that are driving the global radiopharmaceuticals industry . For oncology and cancer therapy, these are more convenient and suitable therapeutic radiopharmaceuticals. It not only assists doctors in diagnosis but is also a more convenient and safer choice for patients as compared to X - Rays and other external imagin g instruments . Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) Restraint s High cost and Regulatory requirement s Some of the factors restricting the market's growth are supply shortages, logistical difficulties, and a lack of qualified clinical professionals. Furthermore, the high cost of developing radiopharmaceuticals, as well as strict regulatory requirements, restrict the market's growth. Radiopharmaceuticals face additional scrutiny and undergo unique regulatory and sanction pathways. Sometimes, extensive testing may also put investigators under a lot of financial strain. Furthermore, reimbursement causes issues for the manufacturer, and high capital investment hampers the market growth . Impact of COVID - 19 in the industr y Almost every sector has been impacted by the raging coronavirus - induced pa ndemic. This has also had a negative effect on the development, production, and supply of nuclear medicine, as well as the growth of the radiopharmaceuticals industry. The supply chain for radiopharmaceuticals and diagnostic kits has also been disrupted as a result of the pandemic. Moreover, due to suppliers’ cost, and transportation issues, nuclear medicine manufacturers have been facing problems in obtaining cold kits used for simplifying radiopharmaceutical production . Global Radiopharmaceuticals Mar ket: By Product Typ e Based on type, the global radiopharmaceuticals market is categorized into Diagnostic Nuclear Medicine and Therapeutic Nuclear Medicine. The Diagnostic Nuclear Medicine segment will be the fastest - growing segment during the forecast per iod. The Diagnostic Nuclear Medicine is subdivided into single - photon emission computerized tomography (SPECT) and Positron emission tomography (PET) Radiopharmaceuticals. Between these, the SPECT segment is expected to grip the maximum share during the pr edicted period owing to its wide availability and low cost . Global Radiopharmaceuticals Market: By Applicatio n Based on application, the global radiopharmaceuticals market is categorized into Oncology, Cardiology, Neurology, Endocrinology, and other s . O ut of these , the oncology segment is projected as the fast - growing section due to the growing prevalence of cancer crosswise different age groups. Also, PET procedure, is increasingly being accepted for cancer diagnosis due to high imaging capabilities, wh ich is contributing in the growth of oncology section. The oncology segment has donated more than half of the market share in the overall market for radiopharmaceuticals . Global Radiopharmaceuticals Market: By End User s Based on end - use r , global radiopha rmaceuticals market is categorized into Hospitals, Specialty Clinics, and Diagnostic Centers. The Hospital segment is likely Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) to dominate as the fast - growing segment during the forecasted period. It is mainly due to the rise in the adoption of various imagi ng technologies that include PET scan or MRI Scan and the growing occurrence of qualified medical practitioners in the radiology department throughout the globe. However, the rising number of diagnostic centers, especially in developed countries such as th e U.S., is expected to hasten the development of radiopharmaceuticals for the diagnostic centers market in the future . Global Radiopharmaceuticals Market – Regional Insight s The Global Radiopharmaceuticals Market is categorized into North America, Latin America, Europe, Asia Pacific, the Middle - East, and Africa. [WU4] North America is predicted to hold the major radiopharmaceuticals market share. The significant market share can be attributed to the advancement of innovative technologies in the region for manufacturing radioisotopes. Additionally, government support and company initiatives are also contributing the market growth. The Asia - Pacific radiopharmaceuticals market is also poised to grow at the fastest rate during the forecast period due to an increase in the demand for PET and SPECT devices induced by increased patient awareness levels . Recent Development s In April 2021, Cardinal Health, an American multinational health care services organization, launched NavistaTM TS to assist oncology practices in improving patient care, lowering costs, and achieving succes s in value - based care . In June 2020 , Nihon Medi - Physics and Global Medical Solutions a leading - edge manufacturer and distributor of radiopharmaceuticals, diagnostic imaging products, equipment, devices, and services, announced a strategic partnership in Nuclear Medicine Markets in Asia and Oceania . Competitive Landscap e Key players in the global radiopharmaceuticals market are Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Curium Pharma, Life Molecular Imaging, Lantheus Holdings, In c., Cardinal Health, Inc., General Electric Company, Bracco S.p.A., Bayer AG, Advanced Accelerator Applications, S.A., Eli Lilly and Company, Nihon Medi - Physics. Co. Ltd., FUJIFILM Toyama Chemical Co., Ltd., Jubilant Life Sciences Ltd., Samyoung Unitech, D uChemBio, Inc., and other key manufacturers. A few notable successes in the targeted radiology therapeutic space are changing the dynamic, causing a new influx of investor capital into these innovations as well as increased merger and acquisition activity, which has resulted in significant value creation for investors . Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) Scop e Attribut e Detail s Years Considere d Historical data – 2016 - 201 9 Base Year – 201 9 Forecast – 2020 – 202 7 Facts Covere d Revenue in USD Billio n Market Coverag e U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE, South Africa, Saudi Arabi a Product/Service Segmen t atio n By Product Type, By Application, By End User, By Regio n Key Player s Key players for global radiopharmaceuticals market are Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Curium Pharma, Life Molecular Imaging, Lantheus Holdings, Inc., Cardinal Health, Inc., General Electric Company, Bracco S.p.A., Bayer AG, Advanced Accelerator Applications, S.A., Eli Lilly and Company, Nihon Medi - Physics. Co. Ltd., FUJIFILM Toyama Chemical Co., Ltd., Jubilant Life Sciences Ltd., Samyoung Unitech, and DuChemBio, Inc. and other key manufacturers . · By Product Typ e § Diagnostic Nuclear Medicin e o SPECT Radiopharmaceutical s o PET Radiopharmaceuticals ) § Therapeutic Nuclear Medicin e · Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) By Applicatio n § Oncolog y § Cardiolog y § Neurolog y § Endocrinolog y § Other s · By End Use r § Hospital s § Specialty Clinic s § Diagnostic Center s · By Regio n § North Americ a § Latin Americ a § Europ e § Asia Pacifi c § The Middle Eas t § Afric a Global Radiopharmaceuticals Market Thriving: Projected to touch USD 6.43 Billion by 2027, growing at the CAGR of 6.0% during the forecast period (2020 - 2027) About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us at info@blueweaveconsulting.com