Radiopharmaceutical Market

The Global Radiopharmaceuticals Market is valued at USD 6319.2 Million in 2021 and is expected to reach USD 8832.7 Million by 2028 with a CAGR of 4.9% over the forecast period.

Radiopharmaceutical Market report is segmented on type, end-user, application, and by regional & country level. Based upon the type, the market is segmented into Diagnostic Radiopharmaceuticals and Therapeutic radiopharmaceuticals. On the basis of end-user, the market is segmented into Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others. Based upon application, the market is classified into Cardiology, Neurology, Oncology, and Other.

Scope:

Radiopharmaceuticals are pharmaceutical agents which contain radioactive materials used for therapeutic or diagnostic procedures. These radioactive materials are mostly radioisotopes that emit gamma radiation of a short wavelength which can destroy the cells. These radiopharmaceuticals are mostly used for cancer cell destruction, arthritis, and treatment for pain. Radiopharmaceuticals are used in various diagnostic procedures, nuclear medicine mostly in medical imaging. One of the major divisions of radiopharmaceuticals is contributed by radiotracers which are used in medical imaging to diagnose any dysfunction in tissues. Around 5-8 years is the typical duration which these radiopharmaceuticals take for the launch in the market and human use.

The regions covered in this Radiopharmaceutical market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of Radiopharmaceutical market is subdivided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Companies:

Some major key players for the Radiopharmaceutical market are

• Cardinal Health, Inc.
• GE Healthcare
• Bayer AG
• Bracco Imaging S.p.A.
• Lantheus Holdings, Inc.
• Nordion, Inc.
• Eckert & Ziegler
• Advanced Accelerator Applications (AAA)
• Curium Pharma
• Jubilant Pharma
• NTP Radioisotopes SOC Ltd.
• Triad Isotopes, Inc.
• Institute of Isotopes Co., Ltd.
• Navidea Biopharmaceuticals
• SOFIE
• Others

Segmentation:

By Type of Radiopharmaceuticals

• Diagnostic Radiopharmaceuticals
• Therapeutic Radiopharmaceuticals

By Application

• Oncology
• Cardiology
• Neurology
• Endocrinology
• Others

By End Users

• Hospitals
• Diagnostic Centers
• Research Institutions
• Others

An increase in the prevalence of cancer and increased use of medical imaging as a diagnostics procedure is the key factor that helps the market to grow.

There has been tremendous growth in the prevalence of various chronic disorders such as cancer, cardiovascular disorders, and others has fueled the growth of the radiopharmaceutical market. As per the Research UK report, there were around 17 million new cases of cancer has been reported in 2018. As the prevalence of chronic disorders has increased it has also increased the demand for better and accurate diagnosis for better treatment. This in turn has increased the use of medical imaging on a large scale which involves the use of radiopharmaceuticals as a tracer to detect the dysfunctional tissue in the body.

Moreover, these drugs are useful for the better and pain-relieving treatment in chronic disorders, further development in radiopharmaceuticals is expected to contribute to the growth of the radiopharmaceutical market over the forecast period. The increase in research and development activities with technological advancement and strategic alliances in the market are expected to create ample opportunities in the radiopharmaceuticals market. However, mishandling during the manufacturing process and the high cost of radiopharmaceuticals are expected to hamper the growth of the radiopharmaceuticals market.  

North America is expected to dominate the market.

North America is expected to account for the major market share and is expected to dominate the market over the forecast period. Due to the presence of developed countries such as U.S., Canada and others coupled with increased prevalence of cancer and medical imaging and increased public awareness. Europe is expected to closely follow North America in terms of market share due to the presence of advanced infrastructure, increase in research & development and technological advancement are expected to promote the growth of the radiopharmaceutical market over the forecast period.

The Asia Pacific is expected to develop significantly in terms of growth rate and maintain its dominance over the forecast period. Increased adoption of advanced technology, increased prevalence of chronic disorders, increase in public awareness, increase in disposable income and others factors are expected to promote the growth of the radiopharmaceutical market. Latin America, Africa and Middle East is expected to develop moderately in the near future.

On Special Requirement Graphite Electrode Market  Report is also available for the below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 6319.2 Million
Base year considered	2020
Forecast Period CAGR %:	4.9%
Market Size Expected in 2028:	USD 8832.7 Million
Tables, Charts & Figures:	175
Pages	300
Radiopharmaceutical Companies	Cardinal Health, Inc., GE Healthcare, Bayer AG, Bracco Imaging S.p.A., Lantheus Holdings, Inc., Nordion, Inc., Eckert & Ziegler, Advanced Accelerator Applications (AAA), Curium Pharma, Jubilant Pharma, NTP Radioisotopes SOC Ltd., Triad Isotopes, Inc., Institute of Isotopes Co., Ltd., Navidea Biopharmaceuticals, SOFIE, Others.
Segments Covered	By Type, By End-User, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa