Research Nester released a report titled “Radiopharmaceuticals Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global radiopharmaceuticals market in terms of market segmentation by application, by treatment area, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Radiopharmaceuticals are tiny particles of radioactive isotopes that are given to the patients in order to diagnose and treat various disorders. The radiopharmaceuticals market is anticipated to record a CAGR of around 9% over the forecast period, i.e., 2019-2027. The market is segmented by application, by treatment area, by end user and by region, out of which, the application segment is further bifurcated into therapeutic and diagnostic segments. On the basis of application, the diagnostic segment is estimated to hold the largest share in the market which can be attributed to the rising usage of radiopharmaceuticals in various imaging techniques such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT). On the basis of end user, the market is segmented into hospitals, research institutes, diagnostic centers and others, out of which, the hospitals segment is predicted to witness highest growth on account of growing patient population in hospitals as well as the rising cases of cancer and other disorders.
The radiopharmaceuticals market in North America is estimated to occupy the leading share in the market as a result of rising advancements in medical technology in the region. The presence of radioisotopes in the United States and Canada further promotes the research and development in the field of radiopharmaceuticals in the region. On the other hand, the market in Asia Pacific is anticipated to grow at the highest rate during the forecast period on account of growing incidences of disorders which increase the demand for diagnostic techniques in the region.
Rising Cases of Cancer and Cardiovascular Disorders to Boost the Market Growth
According to a study conducted by the European Association of Nuclear Medicine, about 90% of radiopharmaceuticals are used in medical imaging technologies.
The growing awareness among people about the risks associated with cancer and the need for getting an early diagnosis is estimated to raise the demand for medical imaging technologies. As a majority of radiopharmaceuticals are applied in the field of diagnostics, the market is anticipated to witness an incline in the upcoming years. However, the lack of skilled professionals and scientists working in the field of radiopharmaceuticals is predicted to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global radiopharmaceuticals market which includes company profiling of General Electric Company (NYSE: GE), Novartis AG (SWX: NOVN), Eckert & Ziegler (ETR: EUZ), Siemens Medical Solutions USA, Inc. (ETR: SHL), Bayer (ETR: BAYN), IBA Molecular (EBR: IBAB), Cardinal Health (NYSE: CAH), Curium, Lantheus Medical Imaging, Inc. ( NASDAQ: LNTH) and Bracco Diagnostic Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global radiopharmaceuticals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.