A recent report published by Infinium Global Research on radiopharmaceuticals market provides in-depth analysis of segments and sub-segments in the global as well as regional radiopharmaceuticals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional radiopharmaceuticals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global radiopharmaceuticals market. According to the report, the global radiopharmaceuticals market is projected to grow at a CAGR of 8.5% over the forecast period of 2019-2025.
Radiopharmaceuticals used in molecular and nuclear imaging serve a vital purpose inpatient care. Radiopharmaceuticals are unique medicinal formulations encompassing radioisotopes which are used in major clinical areas for diagnosis and therapy. Radioisotopes are used as nuclear medicines which emit alpha and beta emission rays for treating diseases. Radiopharmaceutical products are used for the treatment of diseases such as cancer, cardiovascular heart disease, neurology, and bone fracture detection.
The rapidly expanding rates of cancer and cardiovascular diseases are the primary driving factor for the growth of the radiopharmaceuticals market. In addition, the cancer rates could further increase by 50% to 15 million new cases in the year 2020, according to the World Cancer Report. Growth in cancer diagnostics and treatments have ignited the preference of doctors towards the utilization of radiopharmaceuticals. Radiopharmaceuticals like F-18, samarium, and technetium, which contribute more than 75% to the PET-analysis showcase, are utilized as a part of imaging to analyze cancer and cardiac diseases. With the expanding frequency of cancer and cardiovascular infections, the interest for radiopharmaceuticals will likewise increase. Furthermore, public-private partnerships are emerging for modernization of the healthcare infrastructure owing to the high cost of nuclear medicine devices and budget constraints. This factor is also aiding the adoption of radiopharmaceuticals for several treatments. However, comparatively short life of radiopharmaceuticals coupled with high cost hampers the growth of the market. Moreover, the growing focus on targeted therapies and an increasing number of potential radioisotopes in the pipeline creates fruitful opportunities for the market players.
Among the regions, North America is expected to hold the largest share in the global radiopharmaceuticals market. The U.S. radiopharmaceuticals market is estimated to be the largest market among the North American countries. The installation of new cyclotrons, an increase in the incidence of cancer and heart patients, and well-defined reimbursement policies from public and private health insurance firms fuel the growth of the radiopharmaceuticals market in the U.S. market. In addition, according to the World Nuclear Association, U.S. based Coqui Pharmaceuticals signed a contract with Argentinian nuclear engineering company INVAP to build an open-pool reactor similar to Australia’s Opal reactor in order to have better Mo-99 production facility at Alachua County, Florida. Europe is anticipated to hold the second-largest share owing to the growing prevalence of cancer and increasing reimbursement policies.
The report on global radiopharmaceuticals market covers segments such as radioisotopes and end-users. On the basis of radioisotopes, the sub-markets include technetium-99, thallium-201, gallium-67, iodine-123, flourine-18, rubidium-82, yttrium-90, lutetium-177, and other radioisotopes. On the basis of end-users, the sub-markets include hospitals, ambulatory surgical centers, diagnostic centers, and research centers.
The report provides profiles of the companies in the market such as GE Healthcare, Cardinal Health, Inc., Mallinckrodt Pharmaceuticals, Lantheus Medical Imaging, Inc., Bayer AG, Advanced Accelerator Applications S.A., Bracco Imaging S.p.A., Eczacibasi Monrol Nuclear Products Co., Nordion Inc., and Urenco Group.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of radiopharmaceuticals market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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