The latest report by IMARC Group, titled “Radiopharmaceuticals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the Radiopharmaceuticals Market Size. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global radiopharmaceuticals market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028. Radiopharmaceuticals, or medicinal radioisotopes, refer to a crucial component of the global healthcare landscape, having wide-ranging applications in the diagnosis and treatment of various diseases. These radioisotopes are utilized in both therapeutic and diagnostic medical procedures, particularly in nuclear medicine, where they play a pivotal role in disease detection, staging, and therapy. In therapeutic applications, radiopharmaceuticals are instrumental in the treatment of a variety of conditions, notably cancer, where they contribute to targeted therapy. In diagnostics, they enhance the accuracy and efficacy of imaging technologies, such as PET and SPECT scans.
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Global Radiopharmaceuticals Market Trends:
The increasing prevalence of chronic diseases, especially cancer, where early diagnosis and effective treatment are crucial represents one of the key factors driving the global radiopharmaceutical market. Radiopharmaceuticals enhance the precision and efficacy of both, which is boosting the demand for radiopharmaceuticals. In addition, advancements in imaging technologies, such as PET and SPECT, are increasing the use of radiopharmaceuticals for diagnostic purposes. Furthermore, ongoing research and development (R&D) activities in nuclear medicine, propelled by increasing investments and supportive regulatory frameworks, are bolstering the market growth. Notably, the development of novel radiopharmaceuticals for various clinical applications represents a significant trend in the market. The advent of theranostics, combining diagnostics and therapeutics, presents immense growth opportunities, as it aligns with the rising trend toward personalized medicine. Meanwhile, the expansion of healthcare infrastructure across emerging economies and the increase in healthcare spending are facilitating the growth of the market. Moreover, the rising burden of chronic diseases, advancements in medical technologies, and evolving healthcare dynamics, are some of the other factors creating a positive outlook for the market across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global radiopharmaceuticals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, application and end use.
Competitive Landscape with Key Players:
- Advanced Accelerator Applications (Novartis AG)
- Bayer AG
- Bracco S.p.A.
- Cardinal Health Inc.
- Curium Pharma
- General Electric Company
- IBA RadioPharma Solutions
- Jubilant Pharma Limited
- Lantheus Medical Imaging Inc
- Nordion Inc. (Sotera Health)
- NTP Radioisotopes SOC Ltd
- PharmaLogic Holdings Corp.
- Siemens AG.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Advanced Accelerator Applications (Novartis AG), Bayer AG, Bracco S.p.A., Cardinal Health Inc., Curium Pharma, General Electric Company, IBA RadioPharma Solutions, Jubilant Pharma Limited, Lantheus Medical Imaging Inc, Nordion Inc. (Sotera Health), NTP Radioisotopes SOC Ltd, PharmaLogic Holdings Corp. and Siemens AG.
Breakup by Product Type:
- Diagnostic Nuclear Medicine
- Therapeutic Nuclear Medicine
On the basis of the product type, the market has been segmented into diagnostic and therapeutic nuclear medicine.
Breakup by Application:
- Oncology
- Cardiology
- Neurology
- Endocrinology
- Others
Based on the application, the market has been categorized into oncology, cardiology, neurology, endocrinology, and others.
Breakup by End Use:
- Hospitals and Clinics
- Research Institutes
- Diagnostic Centers
On the basis of the end use, the market has been classified into hospitals and clinics, research institutes, and diagnostic centers.
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Application, End Use, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Advanced Accelerator Applications (Novartis AG), Bayer AG, Bracco S.p.A., Cardinal Health Inc., Curium Pharma, General Electric Company, IBA RadioPharma Solutions, Jubilant Pharma Limited, Lantheus Medical Imaging Inc, Nordion Inc. (Sotera Health), NTP Radioisotopes SOC Ltd, PharmaLogic Holdings Corp. and Siemens AG |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report
1. What was the size of the global radiopharmaceuticals market in 2022?
2. What is the expected growth rate of the global radiopharmaceuticals market during 2023-2028?
3. What has been the impact of COVID-19 on the global radiopharmaceuticals market?
4. What are the key factors driving the global radiopharmaceuticals market?
5. What is the breakup of the global radiopharmaceuticals market based on the product type?
6. What is the breakup of the global radiopharmaceuticals market based on the application?
7. What is the breakup of the global radiopharmaceuticals market based on the end use?
8. What are the key regions in the global radiopharmaceuticals market?
9. Who are the key players/companies in the global radiopharmaceuticals market?
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