Global Nuclear Medicine or Radiopharmaceuticals Market is Estimated to Value Over USD 6.1 Billion by 2026 End

  • 15 Oct 2019

Global Nuclear Medicine/Radiopharmaceuticals Market is estimated to value over USD 6.1 billion by 2026 end and register a CAGR of over 4.9% during the forecast period 2019 to 2026.

It is to be observed that factors such as the rise of applications in radioisotopes, substantial public awareness, imaging devices, a large volume of radiopharmaceuticals and a cancer treatment that is based on alpha therapy, are all reasons which helped to revitalise the global nuclear medicine/radiopharmaceuticals market growth. Furthermore, market analysis shows that the manufacture of radiopharmaceuticals with the help of cyclotrons, increasing requirements in the emerging markets, and opting for the latest methods as opposed to the traditional equipment have helped in expanding the global nuclear medicine/radiopharmaceuticals market size.

Radiopharmaceuticals are constituted by radioactive isotopes which comprise of applications in therapeutics and diagnosis. They contain a substance which is radioactive and is used in treatments such as cardiac, cancer and neurological disorders. These therapeutic radiopharmaceuticals serve as a more convenient option for illnesses such as cancer and oncology treatment. In fact, it is a far safer option for patients as opposed to X-rays and other imaging techniques.

Technological innovations in imaging has posed many shifts and changes with the arrival of hybrid technology namely, the single photon emission computed tomography (SPECT) and positron emission tomography (PET). A far more accurate and precise diagnosis can be made possible with the aid of imaging, along with a heightened attenuation correction, specificity and localization. To add to this, SPECT has made many strides in avenues such as thyroid imaging, cardiology, cancer diagnosis and spleen/liver imaging. In the case of PET, also known as hybrid imaging, radiopharmaceuticals such as 18F-fluorodeoxyglucose (18F-FDG). This is used extensively in PET diagnosis.

The nuclear medicine/radiopharmaceuticals market is projected to expand, primarily, due to alpha radioimmunotherapy involved treatment, a strong presence of chronic diseases and innovations in imaging techniques that involves the use of radiopharmaceuticals. All these factors combined, have been instrumental in boosting the market growth of the pharmaceuticals industry. However, there are certain hindrances owing to the lack of availability of substitutes in the radiopharmaceuticals, stringent regulations in clinical investigations and translational methodologies, scarcity in reimbursement, as well as the short life span associated with the radiopharmaceuticals. Such hindrances, will most likely, pose negative impacts on the global nuclear medicine/radiopharmaceuticals market potential during the forecast time frame.

Some of the players operating in the global radiopharmaceuticals and nuclear medicine market includes  Lantheus Medical Imaging Inc., Eczacibasi-Monrol Nuclear Products, GE Healthcare, IBA Molecular Imaging, Bayer Healthcare, Nordion Inc, Bracco Imaging S.p.A, Advanced Accelerator Applications S.A., Cardinal Health Inc. 

 

Nuclear Medicine/ Radiopharmaceutical Market Segmentation:

By Type

  • Diagnostic Nuclear Medicine

- Spect Radiopharmaceuticals

~ Tc-99m

~ Tl-201

~ Ga-67

~ I-123

~ Other Spect Isotopes

- Pet Radiopharmaceuticals

~ F-18

~ Ru-82

~ Other Pet Isotopes

  • Therapeutic Nuclear Medicine

- Alpha Emitters

~ Ra-223

- Beta Emitters

~ I-131

~ Y-90

~ Sm-153

~ Re-186

~ Lu-177

~ Other Beta Emitters

- Brachytherapy Isotopes

~ I-125

~ Ir-192

~ Pd-103

~ Cs-131

~ Other Brachytherapy Isotopes

By Application

  • Diagnostic Applications
  • Spect Applications

- Cardiology

- Lymphoma

- Neurology

- Thyroid

- Other Spect Applications

  • Pet Applications

- Oncology

- Cardiology

- Neurology

- Other Pet Applications

  • Therapeutic Applications

- Thyroid

- Bone Metastasis

- Lymphoma

- Endocrine Tumors

- Other Therapeutic Applications

By Procedural Volume

  • Diagnostic Procedures

- Spect Radiopharmaceuticals

- Pet Radiopharmaceuticals

  • Therapeutic Procedures

- Beta Emitters

- Alpha Emitters

- Brachytherapy Isotopes

By Region

 

FutureWise Key Takeaways:

  •    Growth prospects
  •    SWOT analysis
  •    Key trends
  •    Key data-points affecting market growth

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global nuclear medicine/pharmaceuticals  market by type, by application, by procedural volume and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
  • To forecast and evaluate micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
  • To record, evaluate and analyze competitive landscape mapping- technological advancements, product launches, expansions and mergers

 

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