The Insight Partners published latest research report on “Radiopharmaceuticals Market Growth Report, Size, Trends, Revenue Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Product Type, Application and End User” the global market size is projected to reach USD 13,818.17 million by 2028 from USD 7,550.74 million in 2021; it is expected to grow at a CAGR of 9% from 2021 to 2028.
The Insight Partners published latest research report on "Radiopharmaceuticals Market Growth Report, Size, Trends, Revenue Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Product Type, Application and End User" the global market size is projected to reach USD 13,818.17 million by 2028 from USD 7,550.74 million in 2021; it is expected to grow at a CAGR of 9% from 2021 to 2028.
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The COVID-19 pandemic has negatively impacted the US radiopharmaceutical market. As per the Society of Nuclear Medicine and Molecular Imaging (SNMMI), the outbreak had changed the policies for radiopharmaceutical preparations in nuclear medicine (NM) departments by negatively impacting the regular operation of radiopharmacy labs. The COVID-19 crisis has a potential economic impact on most of the sectors, including the oncology procedures. The pandemic has hindered cancer diagnosis and surgeries and is likely to negatively impact the market.
Based on product type, the radiopharmaceuticals market is segmented into Technetium-99m, Thallium-201, Gallium-67, Iodine-131, Copper-64, and other. The Technetium-99m segment is estimated to hold the largest share in the market during the forecast period. The market growth for this segment is attributed to its wide range of application in single photon emission computed tomography (SPECT). For instance, Neurolite (Technetium-99m bicisate) manufactured by Lantheus Medical Imaging is used as an adjunct in the localization of stroke in patients in SPECT imaging.
The World Health Organization (WHO), American Society of Nuclear Cardiology, and American College of Radiology are a few primary and secondary sources referred to while preparing the report on the radiopharmaceuticals market.
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Global Radiopharmaceuticals Market Report Scope, Segmentations, Regional & Country Scope:
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Report Coverage |
Details |
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Market Size Value in |
USD 7,550.74 Million in 2021 |
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Market Size Value by |
USD 13,818.17 Million by 2028 |
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Growth rate |
CAGR of 9% from 2021-2028 |
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Forecast Period |
2021-2028 |
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Base Year |
2021 |
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No. of Pages |
220 |
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No. of Tables |
139 |
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No. of Charts & Figures |
85 |
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Historical data available |
Yes |
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Segments covered |
Type, Product Type, Application, and End User |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country scope |
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Companies Covered |
Cardinal Health, GE Healthcare, Curium, Lantheus Medical Imaging, Bayer AG, Bracco Imaging, Eczacýbaþý-Monrol Nuclear Products, Nordion, Advanced Accelerator Applications, NTP Radioisotopes |
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Key Research Capabilities |
Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
Browse key market insights spread across 220 pages with 139 list of tables & 85 list of figures from the report, "Radiopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Diagnostic Nuclear Medicine and Therapeutic Nuclear Medicine), Product Type (Technetium-99m, Thallium-201, Gallium-67, Iodine-131, Copper-64, and Other), Application (Oncology, Cardiology, Neurology, and Others), and End User (Hospitals, Imaging Centers, Academic and Research Centers, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/radiopharmaceuticals-market/
The growth of the market is primarily attributed to the rising prevalence of chronic diseases, suitability of alpha radioimmunotherapy in targeted cancer treatment, and advancements in nuclear imaging techniques. Moreover, the use of nuclear medicines for personalized treatment is expected to foster the market growth during the forecast period. However, the short shelf-life of radiopharmaceuticals and the availability of substitutes hinder the market growth. The medical practices worldwide continue to adapt to the challenges of COVID-19. On the one hand, healthcare professionals are responding to the pandemic, and on the other, it ensures minimal disruption to non-COVID-related procedures and hospitalizations. Hospitals and other healthcare facilities across the world are forced to postpone elective procedures, such as surgeries. Most nonurgent therapies have been postponed.
The developments in the radiopharmaceuticals Market have been characterized as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as launches, expansion, enhancement as well as relocation. Inorganic growth strategies witnessed in the market were mergers & acquisitions, partnership, collaborations, alliance, and agreement & joint ventures. These activities have paved way for expansion of business and customer base of market players.
Growth Strategies by the Key Players operating in the Global Radiopharmaceuticals Market:
Jul 2021 - Lantheus received U.S. FDA approval of PYLARIFY (piflufolastat F 18) injection, the first and only commercially available PSMA PET imaging agent for prostate cancer. PYLARIFY was developed to target PSMA, a protein that is overexpressed on the surface of more than 90% of primary and metastatic prostate cancer cells.
Jun 2021 - Curium has successfully completed the acquisition of the Austrian radiopharmaceuticals Company IASON, further expanding its footprint in Europe for its broad portfolio of life saving diagnostic solutions.
Jun 2021 - Bayer AG announced the acquisition of Noria Therapeutics Inc. (Noria) and PSMA Therapeutics Inc. Through this acquisition, Bayer AG will obtain exclusive rights to a differentiated alpha radionuclide investigational compound based on actinium-225 and a small molecule directed towards prostate-specific membrane antigen (PSMA).
May 2021 - Telix entered a global clinical supply agreement with Eczacbacs -Monrol Nuclear Products Co. (Monrol) for the supply of no carrier added (NCA) lutetium-177 (177Lu), a key therapeutic isotope used in Telix’s portfolio of Molecularly Targeted Radiation (MTR) products.
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