At 4.9% CAGR, Radiopharmaceuticals Market to hit USD 8832.7 Mn to 2028, says Brandessence Market Research

LONDON, Feb. 8, 2022 /PRNewswire/ -- According to Brandessence Market Research, The Radiopharmaceuticals Market size reached 6319.2 Million in 2021. The Radiopharmaceuticals Market is growing at robust CAGR of 4.9%, and reach size of USD 8832.7 Million by end of Forecast 2028.

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. Radiopharmaceutical Market Size, Share, Companies & Trends Analysis Report By Type (Diagnostic Radiopharmaceuticals, Therapeutic Radiopharmaceuticals), By End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers), By Application (Cardiology, Neurology, Oncology), Based On Region And Segment Forecasts, 2022 – 2028

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Scope of The Radiopharmaceuticals Market Report:

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.

Radiopharmaceuticals Companies Focusing In this Report:

• Cardinal Health, Inc.,
• Advanced Accelerator Applications S.A.,
• IBA Molecular Imaging,
• Lantheus Medical Imaging, Inc.,
• Jubilant Pharma,
• Mallinckrodt plc,
• Eczacibasi-Monrol Nuclear Products,
• GE Healthcare,
• Bracco Imaging S.p.A,
• Nordion, Inc.,
• Bayer Healthcare,
• Siemens Healthcare
• Others

Global Radiopharmaceutical Market Segmentation:

By Type

• Diagnostic Radiopharmaceuticals
• Therapeutic radiopharmaceuticals

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Centers
• Others

By Application

• Cardiology
• Neurology
• Oncology
• Other

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.

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Reginal Analysis:

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 Radiopharmaceutical Market Report is also available for below region:

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

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