Worldwide Radiopharmaceuticals Market 2019 Research Report implements an exhaustive study on Market Research Future. This Report Cover Key Market Driver, market size, growth rate, opportunities, market Dynamics and Overall Analysis.
Radiopharmaceuticals Market – Overview
The radiopharmaceutical market has grown significantly in response to demand for diagnosis and therapeutic purposes. Market intensive reports associated with the healthcare industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The market is projected grow with a CAGR of 8.7 % approximately during the forecast period.
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The usage of radiopharmaceuticals in the various branches of the healthcare industry has increased the demand that is experienced by the market. The growth in the occurrence rates of terminal diseases such as cardiovascular and cancer ailments have opened up the opportunities for market expansion. Increased levels of spending and investments in the market have increased the growth rates in the market.
In Q3 2018, Novartis (Advanced Accelerator Applications) acquired two new radioisotope drugs – Lu-PSMA-617 from Endocyte and FF-10158 from Fujifilm Toyama Chemical.
Leading players in the global radiopharmaceuticals market include Jubilant Life Sciences Ltd., Sun Pharmaceutical Industries Ltd., Cardinal Health Inc., GE Healthcare, Advanced Accelerator Applications SA (owned by Novartis), Nordion Inc., Bracco Diagnostic Inc., Avid Radiopharmaceuticals, IBA Dosimetry GmbH, Canadian Nuclear Laboratories, Mallinckrodt Pharmaceuticals, Lantheus Medical Imaging Inc., Medtronic, Bayer AG, and Siemens AG.
The market for radiopharmaceuticals globally is segmented based on type of test, type, route of administration, application, and end user. The type based segmentation of the market for radiopharmaceutical comprises of therapeutic type radiopharmaceuticals and diagnostic type radiopharmaceuticals. The market segmentation by type of test consists of lung scan, bone scan, myocardial perfusion scan, gallium scan, parathyroid scans, white blood cell scan, cerebral perfusion scan, renal nuclear medicine scan, hepatobiliary scans and others. The application based segment of the market consists of oncology, cardiology, neurology, urology, and others. The market segmentation by route of administration into intravenous, oral, and others. Lastly on the basis of the end users, the market is segmented into diagnostic centers, hospitals, research institutes and others.
The Radiopharmaceutical Market globally is segmented into regions such as Europe, Americas, Asia Pacific, and the Middle East & Africa. The Americas region is controlling a majority market share followed by the European region. The Americas region dominates the radiopharmaceuticals market due to the existence of a huge patient population diagnosed with various chronic diseases like coronary disorders, cancer, stroke, changing lifestyles and growing research & development for effective therapies with relatively fewer side effects. Growing investment in research & development and incidence of leading players in the market have powered the market expansion. The European region controls the second biggest market for the radiopharmaceuticals, which is followed by the Asia Pacific region. Rising investment in research and occurrence of a huge patient pool has motivated the market in the European region. The Asia Pacific region is a rapidly growing market due to a large number of factors such as huge population base, growing prevalence of chronic diseases, fast developing economies and growing investments in healthcare. Additionally, rising awareness among individuals and mounting diagnostic rates have powered the demand for SPECT and PET devices in this region.
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