About Radiopharmaceuticals in Nuclear Medicine
Radiopharmaceuticals are radioactive compounds that have a bound radionuclide in their structure, whose purpose is directing the radionuclide to a location to be treated or to obtain images. Nuclear medications, also known as radiopharmaceuticals, are used to treat lymphoma and bone metastases. Nuclear medicines such as F-18, Tc-99, Ga-67, and I-123 are used in diagnostic operations, while I-131, Ir-192, Y-90, I-125, Lu-177, and Ra-223 are employed in therapeutic procedures. In comparison to chemotherapy, the convenience of treatment using minimally invasive approaches attracts more people to radiopharmaceuticals. The radiopharmaceuticals industry is driven by the rising number of cardiac patients and the development of clear imaging techniques using diagnostic equipment such as PET and SPECT. Supply constraints, logistical challenges, and a scarcity of skilled medical professionals are among the problems limiting the market's growth.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Radiopharmaceuticals in Nuclear Medicine market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cardinal Health (United States), GE Healthcare (United States), Curium (France), Lantheus Medical Imaging (United States), Bayer AG (Germany), Bracco Imaging (Italy), Eczacıbaşı-Monrol Nuclear Products (Turkey), Nordion (Canada), Advanced Accelerator Applications (France) and NTP Radioisotopes (South Africa) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are JSC Isotope (Russia), NorthStar Medical Radioisotopes (United States), Eckert & Ziegler (Germany), IBA Molecular Imaging, Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Life Molecular Imaging, Cardinal Health, Inc., Eli Lilly and Company, Nihon Medi-Physics. Co. Ltd., FUJIFILM Toyama Chemical Co., Ltd., Jubilant Life Sciences Ltd., Samyoung Unitech, DuChemBio, Inc., Rotem Industries and Cambridge Isotope Laboratories, Inc..
Segmentation Overview
AMA Research has segmented the market of Global Radiopharmaceuticals in Nuclear Medicine market by Type (Diagnostic Nuclear Medicine [PECT Radiopharmaceuticals, PET Radiopharmaceuticals], Therapeutic Nuclear Medicine [Alpha Emitters, Beta Emitters] and Brachytherapy Isotopes [Iodine-125, Palladium-103, Cesium-131, Iridium-192, Other]), Application (SPECT Applications [Cardiology, Bone Scans, Thyroid Applications, Pulmonary Scans, Other SPECT Applications], PET Applications [Oncology, Cardiology, Neurology, Other PET Applications] and Therapeutic Applications [Thyroid Indications, Bone Metastasis, Lymphoma, Endocrine Tumors, Other]) and Region.
On the basis of geography, the market of Radiopharmaceuticals in Nuclear Medicine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Radiopharmaceuticals in Nuclear Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand due to increasing Initiatives to reduce the demand and supply gap of Mo-99
Market Growth Drivers:
Rising incidence as well as prevalence of target conditions and Huge Development of alpha-radioimmunotherapy-based targeted cancer treatments
Challenges:
Hospital budget cuts and high equipment costs
Restraints:
Short half-life of radiopharmaceuticals
Opportunities:
Use of radiopharmaceuticals in neurological applications
Market Leaders and their expansionary development strategies
On 31 May 2021, Curium has successfully completed the acquisition of the Austrian radiopharmaceuticals Company IASON, further expanding its footprint in Europe for its broad portfolio of life-saving diagnostic solutions. This is the second acquisition of a positron-emission-tomography (PET) radiopharmaceutical business by Curium this year after the acquisition of M2i, a leading Irish PET player, earlier this year. As part of the transaction, some non-core businesses, including a portfolio of real estate properties, were divested to a group of entrepreneurs.
On 21st March 2021, GE Healthcare today unveiled StarGuide, a next-generation SPECT/CT system that uses the latest digital technologies to help clinicians improve patient outcomes in bone procedures, cardiology, neurology, oncology, and other medical specialties. The system’s cutting edge 12 CZT Digital Focus Detectors not only scan patients in 3D to provide more information to clinicians but are also optimized for Theranostic procedures, which combine the delivery of therapy to patients with diagnosis to monitor disease.
Analyst View
Coronavirus disease 2019 (COVID19) is an acute respiratory infectious disease caused by the coronavirus 2 (SARSCoV2) of the severe acute respiratory syndrome. COVID-19 was hardly unknown before the outbreak in Wuhan, China, in December 2019. In just a few weeks, it went from a regional catastrophe to a global epidemic. On March 11, 2020, the World Health Organization (WHO) proclaimed COVID-19 a pandemic. The COVID-19 pandemic has resulted in significant modifications in radiology department clinical operations around the world.
Key Target Audience
Radiopharmaceuticals in Nuclear Medicine Providers, Government Orgnization, Private Research Organization, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.