Global Radiopharmaceuticals Market to Reach $9.1 Billion by 2026

SAN FRANCISCO, Aug. 5, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Radiopharmaceuticals - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 17; Released: May 2021
Executive Pool: 1373
Companies: 78 - Players covered include Actinium Pharmaceuticals, Inc.; Alliance Medical; Alseres Pharmaceuticals, Inc.; Avid Radiopharmaceuticals; Avid Bioservices Inc; Bayer HealthCare Pharmaceuticals; Bracco Diagnostics, Inc.; Cardinal Health, Inc.; GE Healthcare; Ion Beam Applications S.A; Immunomedics, Inc.; Jubilant Pharma; Lantheus Medical Imaging Inc.; Medi-Radiopharma Ltd; Nordion, Inc.; Novartis/Advanced Accelerator Applications; PETNET Solutions Inc.; Positron Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product Type (SPECT Radioisotopes, PET Radioisotopes, Beta Emitters, Alpha Emitters, Other Product Types); Application (Oncology, Cardiology, Neurology, Other Applications); End-Use (Hospitals & Diagnostic Centers, Ambulatory Surgical Centers, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Radiopharmaceuticals Market to Reach $9.1 Billion by 2026
Radiopharmaceuticals are medicinal solutions containing radioisotopes or radiotracers, which are administered to the patient where they localize to specific organs and emit radiation. Growth in the global market is supported by growing number of nuclear procedures driven by rise in prevalence of cancer, and heart diseases. Significant therapeutic usage of radiopharmaceuticals became possible after the availability of cyclotrons and nuclear reactors which could synthesize large quantities of radioisotopes. The market is further supported by the recent discovery of newer and successful therapeutic applications of radiopharmaceuticals in oncology and cardiology prognosis. Additional impetus from a stream of drug development and testing phases demonstrate the interest surrounding radiopharmaceuticals. Development and progress in this space is anticipated to be fueled by immunology combined with radioisotopes and monoclonal antibodies so as to produce radioisotopes with unprecedented specificity in cancer diagnosis and therapy. Rising popularity of advanced SPECT/CT and PET/CT scanners is also expected to unravel new clinical opportunities.

Amid the COVID-19 crisis, the global market for Radiopharmaceuticals estimated at US$5.3 Billion in the year 2020, is projected to reach a revised size of US$9.1 Billion by 2026, growing at a CAGR of 9.4% over the analysis period. SPECT Radioisotopes, one of the segments analyzed in the report, is projected to grow at a 9.3% CAGR to reach US$4.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the PET Radioisotopes segment is readjusted to a revised 9.5% CAGR for the next 7-year period. This segment currently accounts for a 24% share of the global Radiopharmaceuticals market. PET diagnostic radiopharmaceuticals are employed in procedures utilizing PET/CT or PET diagnostic scanners while SPECT diagnostic radiopharmaceuticals are employed in procedures utilizing gamma cameras. Rising popularity of advanced SPECT/CT scanners is expected to unravel new clinical opportunities for SPECT Radioisotopes. Rise in PET procedural volume is expected to provide opportunities for radiopharmaceuticals such as Fluorodeoxyglucose (FDG).

The U.S. Market is Estimated at $2.7 Billion in 2021, While China is Forecast to Reach $576.4 Million by 2026
The Radiopharmaceuticals market in the U.S. is estimated at US$2.7 Billion in the year 2021. The country currently accounts for a 47.74% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$576.4 Million in the year 2026 trailing a CAGR of 12.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR while Rest of European market (as defined in the study) will reach US$645.7 Million by the end of the analysis period.

Beta Emitters Segment to Reach $1.6 Billion by 2026
Certain radiopharmaceuticals consist of radionuclides that deliver particulate emission such as beta or alpha radiations or auger electrons possessing the capability to kill diseased tissues. In the global Beta Emitters segment, USA, Canada, Japan, China and Europe will drive the 10.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$773.7 Million in the year 2020 will reach a projected size of US$1.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$71.7 Million by the year 2026, while Latin America will expand at a 11.3% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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