Global Radiopharmaceuticals Market

Radiopharmaceuticals Market by Applications (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), End-users (Diagnostic Centers and Hospitals), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

  • Report ID: HC-2622
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 192
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The global radiopharmaceuticals market size is estimated to register a significant CAGR during the forecast period, 2021-2028. The growth of the radiopharmaceuticals market is attributed to the wide prevalence of chronic disorders. Increasing research & development activities by leading pharmaceutical companies along with the introduction of new technology in radiopharmaceuticals are anticipated to boost the market growth to further extent.


Global Radiopharmaceuticals Market summary

Radiopharmaceuticals mainly focuses on medicinal formulations that are unique in nature, which are majorly consisting of radioactive materials or radioisotopes. Radiopharmaceuticals are majorly used for the purpose of diagnostic, therapeutic, and treatment of a particular disease. This is a field of molecular imaging where special types of cameras are connected with the computer that produces detailed pictures of the particular body area needed to be examined by detecting radioisotopes. Radiopharmaceuticals are majorly divided into four categories namely radiopharmaceutical precursor, radiopharmaceutical preparation, radiopharmaceutical preparation kit, and radionuclide generator. Radiopharmaceutical precursor is a radionuclide produced for radio labeling. Radiopharmaceutical preparation is a medicine that contains radionuclide suitable for human products and is ready to use. Radiopharmaceutical preparation kit is used for the preparation of radiopharmaceuticals that consist of non-radionuclide components. Lastly, radionuclide generator is a type of system that is used for the generation of daughter radionuclide.

Radiopharmaceuticals have a huge potential to treat cancer and cardiac disorders. As per the reports by the National Cancer Institute (NCI) in 2018, approximately 1,735,350 new cancer cases were diagnosed in the U.S., which resulted into increase in the adoption of radiopharmaceuticals. Moreover, the U.S. Food and Drug Administration has eased its strict regulatory procedures on radiopharmaceuticals diagnostic & therapeutic and all pharmaceutical agents. However, radiopharmaceuticals diagnostic needs a lengthy process as it has to pass through unique investigations for approvals and regulations, which can cause financial burdens to the investors due to the immense toxicology testing.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing incidence of cancer cases along with several other cardiac disorders across the globe is anticipated to fuel the market growth during the forecast period.
  • Technological advancements for the treatment & diagnosis of cancerous tumors using monoclonal antibodies & radiolabeled peptides are expected to propel the market growth.
  • Growing level of awareness of patients regarding radiopharmaceuticals for the surging demand of accurate diagnosis is anticipated to drive the market growth.
  • High cost of diagnostic & therapeutic equipment and procedures related to radiopharmaceuticals and stringent regulatory guidelines for approval are expected to restrain the market growth.
  • Growing demand for image guiding diagnostics & procedures coupled with increasing application of molecular imaging are projected to create key opportunities for the market expansion in the coming years.

Scope of the Report

The report on the global radiopharmaceuticals market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Radiopharmaceuticals Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals) and End-users (Diagnostic Centers and Hospitals)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

NTP Radioisotopes Pvt Ltd.; Cardinal Health Inc.; Lantheus Medical Imaging; Positron Corp.; GE Healthcare; IBA Group;  and Covidien PLC

Market Segment Insights

Diagnostic radiopharmaceuticals segment is anticipated to dominate the market

On the basis of applications, the global radiopharmaceuticals market is bifurcated into diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals. The diagnostic radiopharmaceuticals segment is anticipated to dominate the market during the forecast period owing to the increasing usage of molecular imaging in the field of diagnosis.


Global Radiopharmaceuticals Market applications

Diagnostic centers segment is expected to grow at a rapid pace

Based on end-users, the market is divided into diagnostic centers and hospitals. The hospitals segment constituted a major share of the market in 2019 and is projected to account for a major market share during the projected period owing to the presence of medical practitioners in the hospitals who are highly skilled. On the other hand, the diagnostic centers segment is expected to grow at a rapid pace in the coming years attributed to the increasing number of diagnostic centers across the globe.


Global Radiopharmaceuticals Market end-users

Asia Pacific is projected to account for a key market share

In terms of regions, the global radiopharmaceuticals market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major share of the market in 2019 and is anticipated to exhibit a high CAGR during the forecast period owing to the high demand for radioisotopes in the region. However, the regional market growth is slightly hampered due to the disruption of supply-demand chain impacted by the shutdown of the National Research Universal Reactor. However, Asia Pacific is estimated to account for a key market share during the forecast period attributed to the increasing level of awareness among the patients along with the increasing demand for photon emission computerized tomography (PECT) and positron emission tomography (PET) devices in the region.


Global Radiopharmaceuticals Market region

Segments

Segments Covered in the Report
The global radiopharmaceuticals market has been segmented on the basis of
Applications

  • Diagnostic Radiopharmaceuticals
  • Therapeutic Radiopharmaceuticals

End-users

  • Diagnostic Centers
  • Hospitals

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • NTP Radioisotopes Pvt Ltd.
  • Cardinal Health Inc.
  • Lantheus Medical Imaging
  • Positron Corp.
  • GE Healthcare
  • IBA Group
  • Covidien PLC

 

Competitive Landscape

Key players competing in the global radiopharmaceuticals market are NTP Radioisotopes Pvt Ltd.; Cardinal Health Inc.; Lantheus Medical Imaging; Positron Corp.; GE Healthcare; IBA Group; and Covidien PLC. Many of these players have adopted business strategies such as launch of new products, advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their consumer base and expand their market position globally.

Global Radiopharmaceuticals Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Radiopharmaceuticals Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Radiopharmaceuticals Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Radiopharmaceuticals Market - Supply Chain
  4.5. Global Radiopharmaceuticals Market Forecast
     4.5.1. Radiopharmaceuticals Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Radiopharmaceuticals Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Radiopharmaceuticals Market Absolute $ Opportunity
5. Global Radiopharmaceuticals Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Radiopharmaceuticals Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Radiopharmaceuticals Demand Share Forecast, 2019-2026
6. North America Radiopharmaceuticals Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Radiopharmaceuticals Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Radiopharmaceuticals Demand Share Forecast, 2019-2026
7. Latin America Radiopharmaceuticals Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Radiopharmaceuticals Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Radiopharmaceuticals Demand Share Forecast, 2019-2026
8. Europe Radiopharmaceuticals Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Radiopharmaceuticals Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Radiopharmaceuticals Demand Share Forecast, 2019-2026
9. Asia Pacific Radiopharmaceuticals Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Radiopharmaceuticals Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Radiopharmaceuticals Demand Share Forecast, 2019-2026
10. Middle East & Africa Radiopharmaceuticals Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Radiopharmaceuticals Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Radiopharmaceuticals Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Radiopharmaceuticals Market: Market Share Analysis
  11.2. Radiopharmaceuticals Distributors and Customers
  11.3. Radiopharmaceuticals Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. NTP Radioisotopes Pvt Ltd.
     11.4.2. Cardinal Health Inc.
     11.4.3. Lantheus Medical Imaging
     11.4.4. Positron Corp.
     11.4.5. GE Healthcare
     11.4.6. IBA Group
     11.4.7. Covidien PLC

Segments Covered in the Report
The global radiopharmaceuticals market has been segmented on the basis of
Applications

  • Diagnostic Radiopharmaceuticals
  • Therapeutic Radiopharmaceuticals

End-users

  • Diagnostic Centers
  • Hospitals

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • NTP Radioisotopes Pvt Ltd.
  • Cardinal Health Inc.
  • Lantheus Medical Imaging
  • Positron Corp.
  • GE Healthcare
  • IBA Group
  • Covidien PLC

 

Key players competing in the global radiopharmaceuticals market are NTP Radioisotopes Pvt Ltd.; Cardinal Health Inc.; Lantheus Medical Imaging; Positron Corp.; GE Healthcare; IBA Group; and Covidien PLC. Many of these players have adopted business strategies such as launch of new products, advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their consumer base and expand their market position globally.

Global Radiopharmaceuticals Market keyplayers

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