Global Radiopharmaceuticals Market Report and Forecast 2023-2031
Global Radiopharmaceuticals Market Outlook
The global radiopharmaceuticals market value was USD 5 billion in 2022, driven by the increasing prevalence of chronic diseases across the globe. The market value is anticipated to grow at a CAGR of 7.50% during the forecast period of 2023-2031 to achieve a value of USD 9.53 billion by 2031.
Radiopharmaceuticals: Introduction
Radiopharmaceuticals, also known as radioactive drugs or radiotracers, are a group of pharmaceutical agents containing radioactive isotopes that are used in nuclear medicine for the diagnosis and treatment of various diseases, such as cancer, cardiovascular disorders, and neurological conditions. Radiopharmaceuticals emit radiation that can be detected by imaging devices, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scanners, enabling physicians to visualize the functioning of organs and tissues, and identify abnormalities at an early stage.
Radiopharmaceuticals Market Scenario
The global radiopharmaceuticals market has experienced significant growth in recent years, driven by factors such as the increasing prevalence of chronic diseases, rising awareness about the benefits of early diagnosis, and advancements in nuclear medicine. Furthermore, the development of novel radiopharmaceuticals, expansion of therapeutic applications, and growing investments in research and development have contributed to the market's expansion.
North America: The largest market for radiopharmaceuticals, driven by factors such as the advanced healthcare infrastructure, a strong focus on research and development, and the presence of major radiopharmaceutical manufacturers.
Europe: The second-largest market, with increasing demand for radiopharmaceuticals due to growing awareness about the benefits of early diagnosis and a supportive regulatory framework.
Asia-Pacific: Expected to witness the highest growth rate due to factors such as a rapidly aging population, increasing prevalence of chronic diseases, and growing investments in healthcare infrastructure.
Radiopharmaceuticals Market Segmentations
Market Breakup by Product Type
- Diagnostic Nuclear Medicine
- SPECT Radiopharmaceuticals
- Technetium-99m
- Thallium-201
- Gallium-67
- Iodine-123
- Other
- PET Radiopharmaceuticals
- F-18
- RU-82
- Others
- Therapeutic Nuclear Medicine
- Alpha Emitters
- Ra-223
- Brachytherapy Isotopes
- Intoiodine-125
- Palladium-103
- Cesium-131
- Iridium-192
- Other brachytherapy isotopes
- Beta Emitters
- Intoiodine-131
- Yttrium-90
- Samarium-153
- Lutetium-177
- Rhenium-186
- Other beta emitters
- Diagnostic Applications
- SPECT Applications
- Cardiology
- Bone Scans
- Thyroid Applications
- Pulmonary Scans
- Other SPECT Applications
- PET applications
- Oncology
- Cardiology
- Neurology
- Other PET applications
- Therapeutic Applications
- Thyroid Indications
- Bone Metastasis
- Lymphoma
- Endocrine Tumors
- Other Indications
- Diagnostic Procedures
- Therapeutic Procedures
- Nuclear Rectors
- Cyclotrons
- Hospitals
- Ambulatory Surgical Centres
- Diagnostic Centres
- Cancer Research Institutes
- Others
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Trends in the Radiopharmaceuticals Market
Some key trends of the market are as follows:
- Development of novel radiopharmaceuticals: The introduction of new radiopharmaceuticals with improved diagnostic and therapeutic properties has expanded the range of clinical applications and driven market growth.
- Expansion of therapeutic applications: The increasing use of radiopharmaceuticals for targeted cancer therapy, such as peptide receptor radionuclide therapy (PRRT) and radioimmunotherapy, has contributed to market expansion.
- Advancements in nuclear medicine: Technological advancements in imaging devices and the growing adoption of hybrid imaging techniques, such as PET/CT and SPECT/CT, have improved the accuracy and reliability of radiopharmaceutical-based diagnostics.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Cardinal Health
- GE Healthcare
- Lantheus Medical Imaging
- Bayer AG
- Bracco Imaging
- Nordion
- NTP Radioisotopes
- NorthStar Medical Radioisotopes
- Eckert & Ziegler
- Braun Melsungen AG
- Smith Nephew
- Zimmer Biomet
- Otto Bock Healthcare
- 1 Preface
- 1.1 Objectives of the Study
- 1.2 Key Assumptions
- 1.3 Report Coverage – Key Segmentation and Scope
- 1.4 Research Methodology
- 2 Executive Summary
- 3 Global Radiopharmaceuticals Market Overview
- 3.1 Global Radiopharmaceuticals Market Historical Value (2016-2022)
- 3.2 Global Radiopharmaceuticals Market Forecast Value (2023-2031)
- 4 Global Radiopharmaceuticals Market Landscape
- 4.1 Global Radiopharmaceuticals Developers Landscape
- 4.1.1 Analysis by Year of Establishment
- 4.1.2 Analysis by Company Size
- 4.1.3 Analysis by Region
- 4.2 Global Radiopharmaceuticals Product Landscape
- 4.2.1 Analysis by Product Type
- 4.2.2 Analysis by End User
- 4.2.3 Analysis by Applications
- 5 Global Radiopharmaceuticals Market Dynamics
- 5.1 Market Drivers and Constraints
- 5.2 SWOT Analysis
- 5.3 Porter’s Five Forces Model
- 5.4 Key Demand Indicators
- 5.5 Key Price Indicators
- 5.6 Industry Events, Initiatives, and Trends
- 5.7 Value Chain Analysis
- 6 Global Radiopharmaceuticals Market Segmentation
- 6.1 Global Radiopharmaceuticals Market, by Product Type
- 6.1.1 Market Overview
- 6.1.1.1 Diagnostic Nuclear Medicine
- 6.1.1.1.1 SPECT Radiopharmaceuticals
- 6.1.1.1.2 Technetium-99m
- 6.1.1.1.3 Thallium-201
- 6.1.1.1.4 Gallium-67
- 6.1.1.1.5 Iodine-123
- 6.1.1.1.6 Other
- 6.1.1.2 PET Radiopharmaceuticals
- 6.1.1.2.1 F-18
- 6.1.1.2.2 RU-82
- 6.1.1.2.3 Others
- 6.1.1.3 Therapeutic Nuclear Medicine
- 6.1.1.3.1 Alpha Emitters
- 6.1.1.3.2 Ra-223
- 6.1.1.4 Brachytherapy Isotopes
- 6.1.1.4.1 Intoiodine-125
- 6.1.1.4.2 Palladium-103
- 6.1.1.4.3 Cesium-131
- 6.1.1.4.4 Iridium-192
- 6.1.1.4.5 Other brachytherapy isotopes
- 6.1.1.5 Beta Emitters
- 6.1.1.5.1 Intoiodine-131
- 6.1.1.5.2 Yttrium-90
- 6.1.1.5.3 Samarium-153
- 6.1.1.5.4 Lutetium-177
- 6.1.1.5.5 Rhenium-186
- 6.1.1.5.6 Other beta emitters
- 6.2 Global Radiopharmaceuticals Market, by Applications
- 6.2.1 Market Overview
- 6.2.2 Diagnostic Applications
- 6.2.3 SPECT Applications
- 6.2.3.1 Cardiology
- 6.2.3.2 Bone Scans
- 6.2.3.3 Thyroid Applications
- 6.2.3.4 Pulmonary Scans
- 6.2.3.5 Other SPECT Applications
- 6.2.4 PET applications
- 6.2.4.1 Oncology
- 6.2.4.2 Cardiology
- 6.2.4.3 Neurology
- 6.2.4.4 Other PET applications
- 6.2.5 Therapeutic Applications
- 6.2.5.1 Thyroid Indications
- 6.2.5.2 Bone Metastasis
- 6.2.5.3 Lymphoma
- 6.2.5.4 Endocrine Tumors
- 6.2.5.5 Other Indications
- 6.3 Global Radiopharmaceuticals Market, by Volume Assessment
- 6.3.1 Market Overview
- 6.3.2 Diagnostic Procedures
- 6.3.3 Therapeutic Procedures
- 6.4 Global Radiopharmaceuticals Market, by Source
- 6.4.1 Market Overview
- 6.4.2 Nuclear Rectors
- 6.4.3 Cyclotrons
- 6.5 Global Radiopharmaceuticals Market, by End User
- 6.5.1 Market Overview
- 6.5.2 Hospitals
- 6.5.3 Ambulatory Surgical Centres
- 6.5.4 Diagnostic Centres
- 6.5.5 Cancer Research Institutes
- 6.5.6 Others
- 6.6 Global Radiopharmaceuticals Market by Region
- 6.6.1 Market Overview
- 6.6.2 North America
- 6.6.3 Europe
- 6.6.4 Asia Pacific
- 6.6.5 Latin America
- 6.6.6 Middle East and Africa
- 7 North America Radiopharmaceuticals Market
- 7.1 Market Share by Country
- 7.2 United States of America
- 7.3 Canada
- 8 Europe Radiopharmaceuticals Market
- 8.1 Market Share by Country
- 8.2 United Kingdom
- 8.3 Germany
- 8.4 France
- 8.5 Italy
- 8.6 Others
- 9 Asia Pacific Radiopharmaceuticals Market
- 9.1 Market Share by Country
- 9.2 China
- 9.3 Japan
- 9.4 India
- 9.5 ASEAN
- 9.6 Australia
- 9.7 Others
- 10 Latin America Radiopharmaceuticals Market
- 10.1 Market Share by Country
- 10.2 Brazil
- 10.3 Argentina
- 10.4 Mexico
- 10.5 Others
- 11 Middle East and Africa Radiopharmaceuticals Market
- 11.1 Market Share by Country
- 11.2 Saudi Arabia
- 11.3 United Arab Emirates
- 11.4 Nigeria
- 11.5 South Africa
- 11.6 Others
- 12 Patent Analysis
- 12.1 Analysis by Type of Patent
- 12.2 Analysis by Publication year
- 12.3 Analysis by Issuing Authority
- 12.4 Analysis by Patent Age
- 12.5 Analysis by CPC Analysis
- 12.6 Analysis by Patent Valuation
- 12.7 Analysis by Key Players
- 13 Grants Analysis
- 13.1 Analysis by year
- 13.2 Analysis by Amount Awarded
- 13.3 Analysis by Issuing Authority
- 13.4 Analysis by Grant Application
- 13.5 Analysis by Funding Institute
- 13.6 Analysis by NIH Departments
- 13.7 Analysis by Recipient Organization
- 14 Funding Analysis
- 14.1 Analysis by Funding Instances
- 14.2 Analysis by Type of Funding
- 14.3 Analysis by Funding Amount
- 14.4 Analysis by Leading Players
- 14.5 Analysis by Leading Investors
- 14.6 Analysis by Geography
- 15 Partnership and Collaborations Analysis
- 15.1 Analysis by Partnership Instances
- 15.2 Analysis by Type of Partnership
- 15.3 Analysis by Leading Players
- 15.4 Analysis by Geography
- 16 Regulatory Framework
- 16.1 Regulatory Overview
- 16.1.1 US FDA
- 16.1.2 EU EMA
- 16.1.3 INDIA CDSCO
- 16.1.4 JAPAN PMDA
- 16.1.5 Others
- 17 Supplier Landscape
- 17.1 Cardinal Health
- 17.1.1 Financial Analysis
- 17.1.2 Product Portfolio
- 17.1.3 Demographic Reach and Achievements
- 17.1.4 Mergers and Acquisitions
- 17.1.5 Certifications
- 17.2 GE Healthcare
- 17.2.1 Financial Analysis
- 17.2.2 Product Portfolio
- 17.2.3 Demographic Reach and Achievements
- 17.2.4 Mergers and Acquisitions
- 17.2.5 Certifications
- 17.3 Lantheus Medical Imaging
- 17.3.1 Financial Analysis
- 17.3.2 Product Portfolio
- 17.3.3 Demographic Reach and Achievements
- 17.3.4 Mergers and Acquisitions
- 17.3.5 Certifications
- 17.4 Bayer AG
- 17.4.1 Financial Analysis
- 17.4.2 Product Portfolio
- 17.4.3 Demographic Reach and Achievements
- 17.4.4 Mergers and Acquisitions
- 17.4.5 Certifications
- 17.5 Bracco Imaging
- 17.5.1 Financial Analysis
- 17.5.2 Product Portfolio
- 17.5.3 Demographic Reach and Achievements
- 17.5.4 Mergers and Acquisitions
- 17.5.5 Certifications
- 17.6 Nordion
- 17.6.1 Financial Analysis
- 17.6.2 Product Portfolio
- 17.6.3 Demographic Reach and Achievements
- 17.6.4 Mergers and Acquisitions
- 17.6.5 Certifications
- 17.7 NTP Radioisotopes
- 17.7.1 Financial Analysis
- 17.7.2 Product Portfolio
- 17.7.3 Demographic Reach and Achievements
- 17.7.4 Mergers and Acquisitions
- 17.7.5 Certifications
- 17.8 NorthStar Medical Radioisotopes
- 17.8.1 Financial Analysis
- 17.8.2 Product Portfolio
- 17.8.3 Demographic Reach and Achievements
- 17.8.4 Mergers and Acquisitions
- 17.8.5 Certifications
- 17.9 Eckert & Ziegler
- 17.9.1 Financial Analysis
- 17.9.2 Product Portfolio
- 17.9.3 Demographic Reach and Achievements
- 17.9.4 Mergers and Acquisitions
- 17.9.5 Certifications
- 17.10 Braun Melsungen AG
- 17.10.1 Financial Analysis
- 17.10.2 Product Portfolio
- 17.10.3 Demographic Reach and Achievements
- 17.10.4 Mergers and Acquisitions
- 17.10.5 Certifications
- 17.11 Smith Nephew
- 17.11.1 Financial Analysis
- 17.11.2 Product Portfolio
- 17.11.3 Demographic Reach and Achievements
- 17.11.4 Mergers and Acquisitions
- 17.11.5 Certifications
- 17.12 Zimmer Biomet
- 17.12.1 Financial Analysis
- 17.12.2 Product Portfolio
- 17.12.3 Demographic Reach and Achievements
- 17.12.4 Mergers and Acquisitions
- 17.12.5 Certifications
- 17.13 Hanger Inc.
- 17.13.1 Financial Analysis
- 17.13.2 Product Portfolio
- 17.13.3 Demographic Reach and Achievements
- 17.13.4 Mergers and Acquisitions
- 17.13.5 Certifications
- 17.14 Otto Bock Healthcare
- 17.14.1 Financial Analysis
- 17.14.2 Product Portfolio
- 17.14.3 Demographic Reach and Achievements
- 17.14.4 Mergers and Acquisitions
- 17.14.5 Certifications
- 18 Global Radiopharmaceuticals Market-Distribution Model (Additional Insight)
- 18.1 Overview
- 18.2 Potential Distributors
- 18.3 Key Parameters for Distribution Partner Assessment
- 19 Key Opinion Leaders (KOL) Insights (Additional Insight)
- 20 Company Competitiveness Analysis (Additional Insight)
- 20.1 Very Small Companies
- 20.2 Small Companies
- 20.3 Mid-Sized Companies
- 20.4 Large Companies
- 20.5 Very Large Companies
- 21 Pricing Models and Strategies (Additional Insight)
- 21.1 Overview
- 21.2 Cost Model
- 21.2.1 Manufacturing Cost Analysis
- 21.2.2 Procurement Cost Analysis
- 21.2.3 Clinical Trial Cost Factors
- 21.3 Pricing Strategies
- 21.3.1 Competitor Pricing Analysis
- 21.3.2 Key Assessment of Product Attributes
- 21.3.3 Pricing Benchmark
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