At 8.2% Global CAGR of Radiopharmaceutical Market Size and Share 2028 | Industry Analysis By Trends, Key Findings | Growth with USD 11.9 Bn: Forecast Report by Zion Market Research
NEW YORK, April 21, 2022 /PRNewswire/ -- As per Zion Market Research study, Radiopharmaceutical industry accrued ROI of approximately around US$ 5.8 billion in 2021 and is expected to gain income of almost US$ 11.9 billion in 2028.
Apparently, Radiopharmaceutical Market is set to register humungous gains of nearly 8.2% in time interval of 2022 to 2028. Moreover, expansion of radiopharmaceutical market over next six years is subject to humungous demand for nuclear drugs such as PET scans & SPECT scans for diagnosing ailments including cancer & other forms of chronic disorders during its preliminary phase. In addition to this, large-scale use of medical imaging techniques as a diagnostic method is enlarging scope of radiopharmaceutical industry surge. Furthermore, rise in diagnostic units in developed countries such as Canada, the U.S., Germany, and the UK will open new vistas of growth for radiopharmaceutical industry. Massive utility of 99m Tc radiopharmaceutical in neuroendocrine tumor imaging method as well as thyroid uptake pertechnetate will exalt industry landscape. Use of new technologies in nuclear imaging including PET and SPECT will enlarge market size. Nonetheless, massive costs incurred in producing radiopharmaceuticals in comparison to ROI can restrict growth of radiopharmaceutical industry.
Key Industry Insights & Finding of the Radiopharmaceutical Market Reports:
- As per the analysis shared by our research analyst, the Radiopharmaceutical Market is expected to grow annually at a CAGR of around 8.2% (2022-2028).
- Through the primary research, it was established that the Radiopharmaceutical Market was valued approximately USD 5.8 Billion in 2021 and is projected to reach to roughly USD 8.2 Billion by 2028.
- North America over forecasting years can be attributed to rise in occurrence of chronic disorders such as heart ailments and cancer in countries such as the U.S.
Zion Market Research published the latest report titled as "Radiopharmaceutical Market - By Radioisotope Type (Technetium-99, Fluorine-18, Iodine-131, And Leutetium-177), By Application (Oncology, Cardiology, Gastroenterology, Neuroendocrinology, Neurology, And Nephrology), By Source (Cyclotrons And Nuclear Reactors), And By End-User (Hospitals And Diagnostic Labs): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2022 – 2028." into their research database.
Radiopharmaceutical Market : Overview
Radiopharmaceuticals are a class of radioactive substances that can be utilized for therapeutic purpose or diagnostic purpose. Moreover, radiopharmaceuticals find large-scale applications in breast cancer and neuroendocrine tumors. In addition to this, the product also finds myriad utility in nuclear medicine. However, administration of radiopharmaceuticals is systemic and they are projected to be restricted to particular tissues owing to its bio-molecular features. Additionally, radiopharmaceuticals actively emit radiation and this makes their storage difficult in comparison to non-radioactive pharmaceuticals. This has restricted use of radiopharmaceuticals.
Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.zionmarketresearch.com/sample/radiopharmaceutical-market
Our Free Sample Report Includes:
- 2022 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190 + Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Zion Market Research methodology
Industry Dynamics:
Radiopharmaceutical Market : Growth Dynamics
- Imaging techniques will embellish growth of radiopharmaceutical market
Rise in occurrence of ailments such as heart disorders, neurological ailments, and cancer will boost radiopharmaceutical market trends. Prominent surge in use of nuclear medicine in oncology has prompted demand for radiopharmaceuticals in recent years. In addition to this, launching of new technologies in nuclear imaging systems including PET and SPECT will prop up expansion of radiopharmaceutical industry. Nevertheless, huge costs of producing radiopharmaceuticals against ROI and strict laws governing radioactive emissions will put brakes on growth of radiopharmaceutical industry.
Furthermore, surge in research & development activities is projected to steer growth of radiopharmaceutical industry. Moreover, surge in patient awareness, need of precise diagnosis, and rise in use of molecular imaging techniques will embellish growth of radiopharmaceutical market. Use of monoclonal antibodies & radiolabeled peptides for identifying and treating malignant tumors will steer expansion of radiopharmaceuticals industry. Need for treating various kinds of diseases and massive use of targeted treatments such as radiopharmaceutical therapy will proliferate expansion of radiopharmaceutical market.
Radiopharmaceutical Market : Segmentation
- Oncology Segment To Expand Rapidly Over Forecasting Timeline
Swift elevation of oncology segment in next six years can be credited to rise in occurrence of cancer across various age-groups of population. In addition to this, rise in use of PET methods for diagnosing cancer will have huge impact on growth of oncology segment.
Directly Purchase a Copy of the Report @ https://www.zionmarketresearch.com/buynow/su/radiopharmaceutical-market
Breakthroughs in Radiopharmaceutical Market
- In March 2022, GE Healthcare declared first patient dosed in its phase III clinical experiments for PET radiopharmaceutical imaging agents. It is likely to carry out clinical trial for SPECT radiopharmaceutical imaging agent in next phase. The strategic move is aimed at diagnosing adult population for Parkinson syndrome along with enhancing patient care services. Reportedly, GE Healthcare is planning to augment its radiopharmaceutical portfolio through these two pipeline radiopharmaceuticals, one for PET and another for SPECT.
- In March 2022, Novartis AG won approval of U.S. Food and Drug Administration for selling radiopharmaceutical for treating advanced stage of prostate cancer.
- In April 2022, Iran has unleashed new generation of radiopharmaceutical referred as LU-177. It is developed by Iranian scientists and is used for diagnosing as well as curing various kinds of cancerous tissues. Moreover, LU-177 has ability to kill cancer tumor tissues by linking to tumor receptors. The mechanism of LU-177 is expected to prevent metastatis through disruption of circulating blood near tumors.
Technetium-99 To Lead Radioisotope Type Segment By 2028
Expansion of technetium-99 segment over next six years can be credited to use of the radioisotope for morphological imaging of internal body parts such as kidneys, liver, and bones. Apart from this, easy access of this radioisotope at reduced prices is set to produce huge demand for radioisotope in near future.
Get More Insight before Buying@: https://www.zionmarketresearch.com/inquiry/radiopharmaceutical-market
List of Key Players of Radiopharmaceutical Market :
- Jubilant Pharmova
- Lantheus Holdings Inc.
- Mallinckrodt Pharmaceuticals
- Cardinal Health Inc.
- GE Healthcare
- Advanced Accelerator Applications
- The Bracco Group
- Eczacibasi-Monrol Nuclear Products
- Nordion Inc.
- Bayer AG
- IBA Molecular Imaging Private Limited
- Siemens Healthineers AG.
Key questions answered in this report:
- What are the growth rate forecast and market size for Radiopharmaceutical Market ?
- What are the key driving factors propelling the Radiopharmaceutical Market forward?
- What are the most important companies in the Radiopharmaceutical Market Industry?
- What segments does the Radiopharmaceutical Market cover?
- How can I receive a free copy of the Radiopharmaceutical Market sample report and company profiles?
Report Scope:
Free Brochure: https://www.zionmarketresearch.com/requestbrochure/radiopharmaceutical-market
Regional Dominance:
- North America To Make Notable Contributions Towards Regional Market Size By 2028
Expansion of radiopharmaceutical market in North America over forecasting years can be attributed to rise in occurrence of chronic disorders such as heart ailments and cancer in countries such as the U.S. In addition to this, surging aging populace and changing lifestyles has resulted in obesity leading to huge sale of nuclear drugs. This has driven growth of regional market. Acceptance of new technologies for radioisotope production for treating chronic ailments will result in expansion of radiopharmaceuticals market in countries such as the U.S.
Global Radiopharmaceutical Market is segmented as follows:
Radiopharmaceutical Market: By Radioisotope Type Outlook (2022-2028)
- Technetium-99
- Fluorine-18
- Iodine-131
- Leutetium-177
Radiopharmaceutical Market: By Application Outlook (2022-2028)
- Oncology
- Cardiology
- Gastroenterology
- Neuroendocrinology
- Neurology
- Nephrology
Radiopharmaceutical Market: By Source Outlook (2022-2028)
- Cyclotrons
- Nuclear Reactors
Radiopharmaceutical Market: By End-User Outlook (2022-2028)
- Hospitals
- Diagnostic Labs
Radiopharmaceutical Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Press Release For Radiopharmaceutical Market: https://www.zionmarketresearch.com/news/radiopharmaceutical-market-analysis
Browse Other Related Research Reports from Zion Market Research
- Digital Pathology Market - Global Industry Analysis: The global digital pathology market was worth around USD 725.10 million in 2021 and is estimated to grow to about USD 1,493.66 million by 2028, with a compound annual growth rate (CAGR) of approximately 12.8 percent over the forecast period.
- Healthcare Regulatory Affairs Outsourcing Market - Global Industry Analysis: The global Healthcare Regulatory Affairs Outsourcing Market accrued earnings worth approximately 5.23 (USD Billion) in 2020 and is predicted to gain revenue of about 12.14 (USD Billion) by 2028, is set to record a CAGR of nearly 11.7% over the period from 2021 to 2028.
- Pharmaceutical Intermediates Market - Global Industry Analysis: The global Pharmaceutical Intermediates Market accrued earnings worth approximately 28,117 (USD Million) in 2020 and is predicted to gain revenue of about 39,779 (USD Million) by 2028, is set to record a CAGR of nearly 4.1% over the period from 2021 to 2028.
Browse through Zion Market Research's coverage of the Global Pharmaceutical Industry
Follow Us on: LinkedIn | Twitter | Facebook
About Us
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651
Email: [email protected]
Website: https://www.zionmarketresearch.com/
Blog - https://zmrblog.com/
SOURCE Zion Market Research
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article