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Radiopharmaceuticals Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Publisher Global Market Insights
Published Aug 22, 2024
Length 110 Pages
SKU # GMI19204870

Description

Radiopharmaceuticals Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032


The global radiopharmaceuticals market was valued at USD 6.7 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% over the forecast period. This growth is primarily driven by the increasing prevalence of chronic diseases, rising demand for advanced diagnostic tools and treatments, and ongoing technological advancements in diagnostic imaging. Key imaging techniques like Positron Emission Tomography (PET) and Single Photon Emission Computed Tomography (SPECT) have significantly enhanced the accuracy of diagnostic processes, offering detailed functional and molecular insights that complement traditional anatomical imaging methods.

The demand for radiopharmaceuticals is further bolstered by their ability to improve diagnostic accuracy, enabling early detection and better management of chronic conditions such as cancer, cardiovascular diseases, and neurological disorders. As a result, there is a growing focus on developing radiotracers with improved sensitivity and specificity, which supports market expansion.

The overall radiopharmaceuticals industry is segregated based on Type, Radioisotope, Application, Source, End Use, and Region.

By type, the market is segmented into therapeutics and diagnostics, with diagnostics dominating the market at 72.6% in 2023. Radioisotopes such as Technetium-99m, Iodine-131, and Fluorine-18 are essential in imaging techniques like SPECT and PET, making them pivotal for diagnostic procedures across various medical fields.

Among radioisotopes, Technetium-99m holds the largest market share due to its favorable nuclear properties and versatility in forming stable radiopharmaceuticals for multiple diagnostic applications. The ability of this isotope to provide high-resolution imaging with minimal radiation exposure is a key factor contributing to its widespread use in medical imaging.

On the application front, the cancer segment is expected to see significant growth, driven by the increasing prevalence of cancer and the need for innovative diagnostics and therapies. Radiopharmaceuticals are increasingly used in cancer detection and treatment, making this segment a key driver of market growth.

The market is also segmented by source, with cyclotrons playing a crucial role due to their ability to produce various isotopes for immediate use, ensuring flexibility and safety in radiopharmaceutical production.

North America leads the global market, driven by the growing demand for advanced diagnostics and the proven clinical effectiveness of radiopharmaceuticals in improving patient outcomes. This region is expected to see robust growth during the forecast period.

Table of Contents

110 Pages
Chapter 1 Methodology and Scope
1.1 Market scope and definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates and calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360° synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of chronic conditions
3.2.1.2 Rising investments for novel cancer therapies
3.2.1.3 Advancements in diagnostic imaging
3.2.2 Industry pitfalls and challenges
3.2.2.1 High cost of therapies and diagnostic procedures
3.2.2.2 Stringent government regulations
3.3 Growth potential analysis
3.4 Reimbursement scenario
3.5 Regulatory landscape
3.6 Technological landscape
3.7 Porter's analysis
3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Company matrix analysis
4.4 Competitive analysis of major market players
4.5 Competitive positioning matrix
4.6 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Type, 2021 – 2032 ($ Mn)
5.1 Key trends
5.2 Therapeutic
5.3 Diagnostics
5.3.1 PET
5.3.2 SPECT
5.3.3 Other diagnostic tests
Chapter 6 Market Estimates and Forecast, By Radioisotopes, 2021 – 2032 ($ Mn)
6.1 Key trends
6.2 Technetium 99m
6.3 Gallium 68
6.4 lodine I
6.5 Fluorine 18
6.6 Copper 64
6.7 Radium 223
6.8 Zirconium 89
6.9 Other radioisotopes
Chapter 7 Market Estimates and Forecast, By Application, 2021 – 2032 ($ Mn)
7.1 Key trends
7.2 Cancer
7.2.1 Breast cancer
7.2.2 Prostate cancer
7.2.3 Lung cancer
7.2.4 Other cancer types
7.3 Neurology
7.4 Cardiology
7.5 Other applications
Chapter 8 Market Estimates and Forecast, By Source, 2021 – 2032 ($ Mn)
8.1 Key trends
8.2 Cyclotron
8.3 Nuclear reactors
Chapter 9 Market Estimates and Forecast, By End Use, 2021 – 2032 ($ Mn)
9.1 Key trends
9.2 Hospitals
9.3 Diagnostic imaging centers
9.4 Research and academic institutes
Chapter 10 Market Estimates and Forecast, By Region, 2021 – 2032 ($ Mn)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Spain
10.3.5 Italy
10.3.6 Netherlands
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Australia
10.4.5 South Korea
10.4.6 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.5.4 Rest of Latin America
10.6 Middle East and Africa
10.6.1 South Africa
10.6.2 Saudi Arabia
10.6.3 UAE
10.6.4 Rest of Middle East and Africa
Chapter 11 Company Profiles
11.1 Bayer AG
11.2 Bracco
11.3 Cardinal Health Inc.
11.4 Coquí Radiopharmaceuticals Corp
11.5 Curium Pharma
11.6 Eli Lilly and Company
11.7 General Electric Company
11.8 IRE ELiT
11.9 Iso-Tex Diagnostics, Inc
11.10 Jubilant Pharmova Limited
11.11 Lantheus
11.12 Novartis AG
11.13 SHINE Technologies, LLC
11.14 Telix Pharmaceuticals Limited

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