Mexico Radiopharmaceuticals Market By Radioisotope (Technetium 99m, Fluorine 18, Iodine I, Gallium 68, Others), By Application (Cancer, Cardiology, Others), By Type (Diagnostic, Therapeutic), By End User (Hospitals and clinics, Medical Imaging centers, Ot

Mexico Radiopharmaceuticals Market By Radioisotope (Technetium 99m, Fluorine 18, Iodine I, Gallium 68, Others), By Application (Cancer, Cardiology, Others), By Type (Diagnostic, Therapeutic), By End User (Hospitals and clinics, Medical Imaging centers, Others): Opportunity Analysis and Industry Forecast, 2023-2032

The Mexico radiopharmaceuticals market is expected to witness a favorable growth during the forecast period. With the rise in investments in R&D of radiopharmaceuticals for clinical and restorative applications, the market is expected to witness significant growth. The essential radioisotopes in the radiopharmaceuticals market in Mexico are Technetium 99m, Fluorine 18, Iodine I, Gallium 68, and also others. The significant applications of radiopharmaceuticals in Mexico include cancer, cardiology, and others. In terms of type, the major radiopharmaceuticals in the Mexican market are diagnostic and therapeutic. The major customers of radiopharmaceuticals are hospitals & clinics, medical imaging centers, and others.

The development of the Mexico radiopharmaceuticals market can be attributed to factors such as a rising prevalence of cancer worldwide, technical improvements in radiopharmaceuticals, as well as using radiopharmaceuticals for medical diagnosis of specific diseases. The rising prevalence of cancer cells in Mexico as well as the increasing demand for early diagnosis of cancer cells are anticipated to be the major factors driving the development in this market. The rising preference for nuclear medicine procedures owing to its effectiveness for imaging as well as medical diagnosis is additionally expected to drive the growth of the market. In addition, the introduction of 3D printing innovation in the production of radiopharmaceuticals is anticipated to develop opportunities for new product launches during the forecast years.

On the contrary, the rigid governing regulations as well as the high cost of radiopharmaceuticals are anticipated to act as restricting factors for the market growth. Furthermore, stringent federal government regulations regarding the supply and circulation are expected to hamper the development of the market during the forecast years.

The market environment of Mexico radiopharmaceuticals is studied by using Porter’s 5 forces analysis. Threat of new participants, negotiating power of purchasers, negotiating power of distributors, threat of substitutes, and degree of competitive rivalry in the market are taken into consideration. The risk of new entrants out there is mini due to stringent guidelines associated with the manufacturing and sale of radiopharmaceuticals. In addition, the presence of many well-known players in the market also restricts the entry of new players as well as creates a competitive environment in the market. The bargaining power of purchasers in the market is moderate owing to the presence of several well-known distributors. Moreover, the vendors usually offer discount rates to customers for bulk orders, which further strengthens their power in the market.

The bargaining power of distributors is low, owing to the visibility of presence distributors. In addition, customers can conveniently switch over to a different supplier owing to the presence of several providers in the market. The threat of alternatives is low, due to the benefits of radiopharmaceuticals for diagnosis and imaging. The accessibility of alternatives such as optical imaging and magnetic vibration imaging for imaging & medical diagnosis is low. The level of competitive rivalry in the market is high due to the existence of reputable players in the industry. In addition, the introduction of new modern technologies and the substantial financial investments in R&D tasks in the sector have actually increased the number of competitors in the market.

The future trends in the Mexico radiopharmaceuticals market include the introduction of new radiopharmaceuticals, R&D in the field of imaging, and the presence of new players in the market. The use of radiopharmaceuticals in targeted therapies is expected to increase in the upcoming years. In addition, the increasing awareness about the benefits of radiopharmaceuticals is anticipated to drive the growth of the market during the forecast period.

The demand need for radiopharmaceuticals from the healthcare facilities and clinical imaging facilities is expected to boost the market growth. Furthermore, the rising technical innovations in radiopharmaceuticals is expected to create possibilities for new product launches in the market. The leading players in the Mexico radiopharmaceuticals market are focusing on launching new products in the market. They are additionally investing dramatically in R&D tasks. For instance, in March 2019, the U.S.-based radioisotope business, PETnet Solutions, released a brand-new radioisotope, Technetium 99m, in Mexico. In addition, the business has actually established solution facilities in significant cities of Mexico, which offers radiopharmaceuticals to the local healthcare facilities.

The leading companies are also concentrating on expanding their manufacturing capacity. For instance, in February 2020, the Mexican radiopharmaceuticals firm, Ergomed, announced the development of its radiopharmaceuticals.

Key companies profile in the report are Sanofi, Gammaglobulin, Grupo Angel, Promecaps SA, Radiofarm SA de CV, Micro-Innova SA de CV, Nucleomex SA de CV, Plena Pharma SA de CV, Bioenex SA de CV, Farmefluar SA de CV.

The radiopharmaceuticals market share is segmented into Radioisotope, Application, Type, End User, and region. On the basis of radioisotopes, the market is classified into Technetium-99m, Fluorine-18, Iodine I, Gallium-68, and others. On the basis of application, the market is divided into cancer, cardiology, and others. On the basis of type, the market is bifurcated into diagnostic, and therapeutic. On the basis of end user, the market is fragmented into hospitals and clinics, medical imaging centers, and others. The others segment includes diagnostic centers, and research institute.

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SWOT Analysis

Key Market Segments

By Type

Diagnostic
Therapeutic

By End User

Hospitals and clinics
Medical Imaging centers
Others

By Radioisotope

Fluorine 18
Iodine I
Gallium 68
Others
Technetium 99m

By Application

Cancer
Cardiology
Others

Key Market Players

Sanofi
Gammaglobulin
Grupo Angel
Promecaps SA
Radiofarm SA de CV
Micro-Innova SA de CV
Nucleomex SA de CV
Plena Pharma SA de CV
Bioenex SA de CV
Farmefluar SA de CV

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