Radiopharmaceuticals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Radiopharmaceuticals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global radiopharmaceuticals market reached a value of US$ 4.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2027, exhibiting a CAGR of 6.76% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Radiopharmaceuticals are unique formulations comprising radioisotopes that are used in clinical areas for diagnosis and therapy. These medicinal drugs are administered by a radio pharmacist, a medical professional who specializes in nuclear medicine. They are taken in the form of a pill or injected into a vein or cavity of the patient’s body. Once they reach the targeted location, they release radioactive agents to destroy the tumor cells. As a result, radiopharmaceuticals are used to treat thyroid, brain, lymphoma and other types of cancer that have spread to the bones.

Radiopharmaceuticals Market Trends:
The increasing prevalence of cancerous diseases on account of the rising aging population and unhealthy dietary patterns represent the key factors contributing to the growing use of radiopharmaceuticals across the globe. Apart from this, the escalating number of diagnostic centers is also supporting the market. Moreover, the rising number of oncologists that are suggesting disease-targeted cancer therapy, which utilizes drugs to target specific proteins and genes involved in the development of cancer cells, are positively influencing the overall sales. Furthermore, the use of radiolabeled peptides and monoclonal antibodies for the diagnosis and treatment of cancerous tumors, along with rising healthcare expenditures, is strengthening the market growth. Other major factors anticipated to propel the growth of the market include the increasing use of radiopharmaceuticals by oncologists to track radioactivity throughout the body and determine the presence of cancer cells and the increasing shift towards positron emission tomography (PET) and single-photon emission computerized tomography (SPECT) scans.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global radiopharmaceuticals market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, application and end use.

Breakup by Product Type:

Diagnostic Nuclear Medicine
Therapeutic Nuclear Medicine

Breakup by Application:

Oncology
Cardiology
Neurology
Endocrinology
Others

Breakup by End Use:

Hospitals and Clinics
Research Institutes
Diagnostic Centers

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Accelerator Applications (Novartis AG), Bayer AG, Bracco S.p.A., Cardinal Health Inc., Curium Pharma, General Electric Company, IBA RadioPharma Solutions, Jubilant Pharma Limited, Lantheus Medical Imaging Inc, Nordion Inc. (Sotera Health), NTP Radioisotopes SOC Ltd, PharmaLogic Holdings Corp. and Siemens AG.

Key Questions Answered in This Report:
How has the global radiopharmaceuticals market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global radiopharmaceuticals market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global radiopharmaceuticals market and who are the key players?
What is the degree of competition in the industry?