Radiopharmaceutical Market to Reach Valuation of ~US$ 5.4 Bn by 2027: Transparency Market Research

Radiopharmaceutical Market to Reach Valuation of ~US$ 5.4 Bn by 2027: Transparency Market Research

PR Newswire

ALBANY, New York, March 6, 2020

ALBANY, New York, March 6, 2020 /PRNewswire/ -- Rise in disposable income of people in emerging economies is expected to enable them to avail better healthcare facilities. Hence, availability of better imaging techniques are likely to prompt healthcare service providers to make significant investments in advanced medical automation technologies in order to meet patient needs, improve operational efficiency, and save both service costs and time. This is anticipated to drive the global radiopharmaceutical market.

Transparency Market Research Logo

Transparency Market Research, New York: According to the report, the global radiopharmaceutical market was valued at US$ 3.6 Bn in 2018 and is projected to expand at a CAGR of ~4% from 2019 to 2027. Some of the factors driving the radiopharmaceutical market are expansion activities of key radiopharma players; applications in clinical trials; and increase in aging population, pipeline assessment of new drugs, and disease indication mortality. Shutdown of some of the nuclear reactors has led to the development of cyclotron as an alternate source of production of radioisotopes.

Increase in prevalence of cancer and rise in demand for nuclear scans for precise diagnosis are among the key factors driving the expansion of the radiopharmaceutical market. Additionally, cost advantage over outsourced radioactive tracers and accessibility of technologically advanced diagnostic devices such as positron emission tomography scan (PET/CT) and a single-photon emission computerized tomography (SPECT) are playing a crucial role in propelling the radiopharmaceutical market.

Based on end user, the hospital segments accounted for major share of the global radiopharmaceutical market in terms of revenue in 2018. The segment is expected to expand at a moderate CAGR during the forecast period. Hospitals are major end-users of radiopharmaceutical products, which are used in the treatment of diseases such as cancer, cardiovascular heart diseases, neurological disorders, and diabetes. Hospitals are an important channel for the usage of radioisotopes as nuclear medicine. According to government healthcare facilities, hospitals have reimbursement plans and advanced technology systems for disease treatment.

Read Detailed TOC of the Report -  

Radiopharmaceutical products are made of radioactive agents, which are required to be handled by experts for treating cancer and other diseases. Hence, patients prefer treatment available in hospitals. Another reason for this preference is that new diagnostic systems are easily available due to government initiatives.

Radiopharmaceutical Market: Prominent Regions

North America held the largest share of the global radiopharmaceutical market in 2018. The demand for medical devices and services continues to be high in the U.S. It is anticipated to increase in the future due to rapidly increasing aging population. Additionally, demand for advanced medical products and technologies is increasing. This is expected to augment the radiopharmaceutical market in North America.

Asia Pacific accounted for a significant share of the global radiopharmaceutical market in 2018. The market in the region is expected to grow at a rapid pace during the forecast period. The radiopharmaceutical market in Asia Pacific is expected to expand at a rapid pace due to higher production rate of isotopes.

Download A PDF Brochure of the Report - 

Production of radioisotopes is higher in Japan, China, India, Australia, and South Korea, which held major shares of the radiopharmaceutical market in Asia Pacific. The radiopharmaceutical market in Japan is expected to be prominent during the forecast period due to the activities of Sumitomo Corporation, which supplies radioactive raw material to radiopharmaceutical companies. Introduction of a new accelerator system for production of radioisotopes in Japan and Australia is projected to propel the radiopharmaceutical market.

Some of the factors likely to boost the radiopharmaceutical market in Asia Pacific are increase in access to healthcare services; growth in per capita income; rise in demand for radiopharmaceuticals; surge in incidence of cancer and heart-related diseases; and speedy introduction of advanced technological systems such as PET/CT, SPECT, and a few accelerator systems.

Inquire for a Sample Copy of the Report -  

Radiopharmaceutical Market: Key Players

Key players are expanding their footprint to strengthen their positions in the global radiopharmaceutical market. These players are collaborating with other companies to secure and strengthen their positions in the radiopharmaceutical market. In December 2018, Advanced Accelerator Applications signed exclusive option and license agreement with FUJIFILM Toyama Chemical to develop and commercialize radiolabeled FF-10158 for oncology indications. Leading players in the global radiopharmaceutical market include GE Healthcare, Lantheus Medical Imaging, Inc., Mallinckrodt, Siemens Healthineers, Advanced Accelerator Applications, Bayer AG, Eckert & Ziegler, IBA Radiopharma Solutions, Philips, and Jubilant Life Sciences Limited.

Purchase this Report - 

Global Radiopharmaceutical Market: Segmentation

Radiopharmaceutical Market, by Source

Radiopharmaceutical Market, by Radioisotope

Radiopharmaceutical Market, by Application

Radiopharmaceutical Market, by Type

Radiopharmaceutical Market, by End-user

Radiopharmaceutical Market, by Region

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Nuclear Medicine Market - This nuclear medicine market report has been developed by healthcare experts with a solitary aspiration to act as a dependable business document for selected audiences such as manufacturers and distributors of radiopharmaceuticals, healthcare institutions including hospitals and medical schools, research and development institutes, contract manufacturing organizations, and venture capitalists.

Neuroendocrine Tumors Market  - Major players operating in the global neuroendcriens tumors market include F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb, Eli Lilly & Company, Novartis AG, Pfizer Ltd., Amgen, Inc., Ispen SA, Teva Pharmaceuticals, Ltd., Callisto Pharmaceuticals Pvt. Ltd., and Biosynthema, Inc.

Pheochromocytoma Market - According to an article published by Progenics Pharmaceuticals Inc., the number of patients in the U.S. is around 4000 to 6000 currently, with less than 1000 new cases diagnosed in 2016. Additionally, unhealthy lifestyle habits such as smoking and drinking are contributing to growth of the pheochromocytoma market in North America. Asia Pacific is one of the most promising markets for pheochromocytoma, as the region is developing rapidly. Furthermore, presence of emerging economies and easy penetration of the market in developing countries in Asia would drive the pheochromocytoma market in Asia Pacific in the near future.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453


Voltar noticias em Inglês