Industry Background:
Growth stage driven by rising number of cancer cases and increasing awareness about nuclear medicine will help to boost global radio-pharmaceutical market in the foretasted period. Unique medicinal formulations containing radioisotopes are called to as radio-pharmaceuticals. It is pharmaceutical formulations comprising radioactive isotopes that are used in diagnosis as well as therapeutics. Radio-pharmaceuticals are divided into four major categories namely radio-pharmaceutical preparation (medicinal ready to use suitable for human product containing a radionuclide), radio-pharmaceutical precursor (a radionuclide produced for radio-labeling), radionuclide generator (a system which generates a daughter radionuclide), and radio-pharmaceutical preparation kit (vial containing non-radionuclide components of a radio-pharmaceutical preparation).
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Cardinal Health (United States), GE Healthcare (United States), Curium (France), Bayer (Germany), Lantheus Medical Imaging (United States), Advanced Accelerator Applications (France), Jubilant Life Sciences (India), Mallinckrodt plc. (United Kingdom), Medtronic, Inc. (Ireland) and Cardinal Health, Inc. (United States) |
According to AMA, the market for Radiopharmaceutical is expected to register a CAGR of 8.4% during the forecast period to 2028. This growth is primarily driven by Initiatives to Lessen the Demand-Supply Gap of Mo-99 and Growing Patient Awareness Levels Demanding Accurate Diagnosis.
Globally, a noticeable market trend is evident Growing Demand for Alpha Radioimmunotherapy-Based Targeted Cancer Treatment
The Pharmaceuticals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cardinal Health (United States), GE Healthcare (United States), Curium (France), Bayer (Germany), Lantheus Medical Imaging (United States), Advanced Accelerator Applications (France), Jubilant Life Sciences (India), Mallinckrodt plc. (United Kingdom), Medtronic, Inc. (Ireland) and Cardinal Health, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 2nd May 2018, Curium signed an agreement to acquire Cyclopharma’s manufacturing and commercial operations in France.
On 26th January 2018, AAA received US FDA Approval for LUTATHERA used in the treatment of gastroenteropancreatic neuroendocrine tumors.
Influencing Trend:
Growing Demand for Alpha Radioimmunotherapy-Based Targeted Cancer Treatment and Increasing Incidence of Cardiac Patients and Adoption Of Clear Imaging Technique
Market Growth Drivers:
Initiatives to Lessen the Demand-Supply Gap of Mo-99 and Growing Patient Awareness Levels Demanding Accurate Diagnosis
Challenges:
High Capital Investment Required
Restraints:
Rising Concern Regarding Short Half-Life of Radio-pharmaceuticals and Supply Shortages and Limited Number of Trained Medical Personnel.
Opportunities:
Huge Demand Due To Use of Radio-pharmaceuticals in Neurological Applications and Technological Advancement in Applications of Molecular Imaging
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Radiopharmaceutical Market
- Analysis about New Entrants in Radiopharmaceutical Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Radiopharmaceutical Study Sheds Light on
The Radiopharmaceutical Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Radiopharmaceutical industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Radiopharmaceutical industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.