Global Radiopharmaceuticals Market Size study, by Type (Diagnostic, Therapeutic), by Application (Cancer, Cardiology, Others), by Radioisotope (Technetium 99m, Gallium 68, Iodine I, Fluorine 18, Copper 64, Strontium 89, Yttrium 90, Radium 223, Actinium 22

Global Radiopharmaceuticals Market Size study, by Type (Diagnostic, Therapeutic), by Application (Cancer, Cardiology, Others), by Radioisotope (Technetium 99m, Gallium 68, Iodine I, Fluorine 18, Copper 64, Strontium 89, Yttrium 90, Radium 223, Actinium 225, Lutetium 177, Copper 67, Terbium 161, Zirconium 89, Others), by End User (Hospitals and Clinics, Medical Imaging Centers, Others) and Regional Forecasts 2022-2032

Global Radiopharmaceuticals Market is valued approximately at USD 7.9 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 10.6% over the forecast period 2024-2032. Radiopharmaceuticals are drugs containing radioisotopes, used primarily for diagnostic imaging, functional examination, and the treatment of various diseases, especially in the realm of nuclear medicine. These drugs allow healthcare professionals to visualize and evaluate different physiological processes within the body, thereby facilitating accurate diagnosis and effective treatment. The surge in demand for radiopharmaceuticals is driven by technological advancements in imaging modalities such as PET and SPECT, the growing prevalence of chronic diseases, particularly cancer, and the increasing awareness among healthcare providers about the benefits of radiation therapy methods.

The increasing prevalence of chronic diseases is a major driver for the radiopharmaceuticals market. For instance, according to the Centers for Disease Control and Prevention (CDC), approximately 129 million Americans are projected to have at least one chronic disease by 2024. Moreover, the World Nuclear Association reported in 2024 that over 50 million nuclear medicine procedures are performed annually, with a rising demand for radioisotopes. This burgeoning need for nuclear medicine procedures underscores the significance of radiopharmaceuticals in modern healthcare, further propelling market growth.

Additionally, significant investments in healthcare infrastructure, particularly nuclear medicine units equipped with advanced imaging technology, have created opportunities for market expansion. The therapeutic applications of radiopharmaceuticals, especially in cancer treatment through targeted radionuclide therapy, are expanding, driving innovation and investment in the sector. However, the high cost of development, production, and distribution of radiopharmaceuticals, coupled with stringent regulatory requirements and the short half-life of many radioisotopes, poses significant challenges to market growth. Despite these hurdles, the development of novel radiopharmaceuticals tailored to specific patient populations and the increasing adoption of precision medicine offer substantial growth opportunities.

North America dominate the radiopharmaceuticals market in 2023, owing to its advanced healthcare infrastructure, well-established pharmaceutical industry, and supportive regulatory policies. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period, driven by growing investments in healthcare infrastructure, rising prevalence of chronic diseases, and increasing awareness about the benefits of radiopharmaceuticals.

Major market players included in this report are:

Novartis AG

Telix Pharmaceuticals Limited

Curium Pharmaceuticals

Lantheus Holdings, Inc.

GE Healthcare

Cardinal Health, Inc.

Bayer AG

Bracco Imaging S.p.A.

Jubilant Pharma Limited

Advanced Accelerator Applications S.A.

Actinium Pharmaceuticals, Inc.

Eckert & Ziegler Group

NorthStar Medical Radioisotopes, LLC

Nordion (Canada) Inc.

PharmaLogic Holdings Corp.

The detailed segments and sub-segment of the market are explained below:

By Type:
• Diagnostic
• Therapeutic

By Application:
• Cancer
• Cardiology
• Others

By Radioisotope:
• Technetium 99m
• Gallium 68
• Iodine I
• Fluorine 18
• Copper 64
• Strontium 89
• Yttrium 90
• Radium 223
• Actinium 225
• Lutetium 177
• Copper 67
• Terbium 161
• Zirconium 89
• Others

By End User:
• Hospitals and Clinics
• Medical Imaging Centers
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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