Global Lutetium-177 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lutetium-177 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Lu-177 is an ideal isotope for radiopharmaceutical therapy as its half-life makes it easier to combine Lu-177 with numerous biologically active compounds.

Market Overview:

The latest research study on the global Lutetium-177 market finds that the global Lutetium-177 market reached a value of USD 65.25 million in 2022. It’s expected that the market will achieve USD 232.87 million by 2028, exhibiting a CAGR of 23.62% during the forecast period.

Influence of COVID-19 Outbreak on Lutetium-177 Industry Development

The COVID-19 epidemic spread to more than 210 countries and regions around the world in three months, affecting nearly 7 billion people. The coronavirus epidemic has impacted all aspects of human health, economic growth, social development, national security, and international relations. It is a comprehensive challenge. The epidemic has drastically reversed expectations of moderate growth in the world economy in early 2020. After the outbreak, the employment situation in various countries has become more severe. Global investors panic, triggering turmoil in the financial and capital markets. The epidemic has caused huge losses to related industries and international trade. From the perspective of the general background, exports, consumption, and investment are driving the economy. After the outbreak of the epidemic, consumption, exports, and investment have all been affected to some extent. Therefore, the global economic downturn is inevitable.

More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries. Under such unfavorable circumstances, there will still be a possibility of a global decline in 2021.

Lutetium-177 Industry Trends

The future trend of products will develop towards carrier-free (high activity) Lu-177. Carrier-free Lu-177 is currently the most promising and market potential integrated radioactive diagnostic and therapeutic nuclide that can be used to prepare tumor-targeted Radiopharmaceuticals for diagnosis and treatment are of great significance for the diagnosis and treatment of neuroendocrine tumors, prostate cancer, breast cancer, cancer bone metastases, non-Hodgkin's lymphoma and other tumors. Because of its superior characteristics and functions, carrier-free Lu177 has become the focus of future Lu-177 product development and production. The preparation process of Lu-177 isotope is complicated and difficult to produce. There are fewer companies that can produce it internationally, and the price is relatively high. Lu-177 has a small market scale currently. While with the maturity of the industry's technology, increased product recognition, and increased attention to the industry, the Lu-177 market will increase significantly within a period of time.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

NRG is one of the major players operating in the Lutetium-177 market, holding a share of 34.93% in 2021.

NRG is the global market leader in producing nuclear isotopes (medical isotopes). Every day, more than 30,000 patients worldwide depend on NRG’s medical substances for their treatment.

Joint Stock Company Isotope (JSC Isotope) is a vital link that connects Russian isotope manufacturers and clients in foreign and domestic markets. JSC Isotope is the sole supplier of isotope products manufactured by ROSATOM State Corporation enterprises.

Segmentation Overview:

Among different product types, General Lutetium-177 segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Nuclear Therapy segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Lutetium-177 market covered in Chapter 3:

SCK CEN
Department of Atomic Energy (DAE)
JSC Isotope (Rosatom)
NRG
NTP Radioisotopes

In Chapter 4 and Chapter 14.2, on the basis of types, the Lutetium-177 market from 2018 to 2029 is primarily split into:

High Specific Activity Lutetium-177
General Lutetium-177

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lutetium-177 market from 2018 to 2029 covers:

Scientific Research
Nuclear Therapy
Industrial
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)