WiseGuyReports.Com Publish a New Market Research Report On –“ Radiopharmaceutical Market to 2022 –Global Market Size, Development Status, Top Manufacturers, and Forecasts”.
Radiopharmaceutical Market 2019
Radiopharmaceutical products are a group of compounds or drugs that have radioactive properties. Radioactivity is the process by which unstable atoms can lose energy through radiation. These isotopes are largely used in the medical field for diagnosis and therapy of various diseases and conditions. The fact that these isotopes can target specific cells, tissues and organs make it a very important compound in the healthcare industry. According to the World Nuclear Association, about one person in 50 will use some kind of nuclear medicine in his/her life time.
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The key players for the Radiopharmaceutical market are Bayer AG, Cardinal Health Inc., General Electric Company, Lantheus Medical Imaging, Inc., Siemens, Avid Radiopharmaceuticals, IBA Dosimetry and Others.
The increase in the number of chronic diseases in adults and children drive the radiopharmaceutical market. Both diagnosis and treatment based products are in demand right now. Oncology is the study of cancer management and the rising expenditure in the oncology department is also a factor that is causing the demand for these isotopes. In 2015, the World Cancer Research Fund International estimated that cancer is the second biggest cause of deaths globally.
This global radiopharmaceutical market study does clear research on the status of the market now and estimates how the market would be during the forecasted period of 2017 to 2023. The main restraint for the growth of this market is the high cost of these radioisotopes. The price of these medicines has increased by 1000 percentage in the recent past. Research estimates that the cost of materials due to cancelled and rescheduled procedures is about USD 560-1120 everyday.
The two broad types of radiopharmaceutical processes are diagnostic and therapeutic types. In 2017, the diagnostic type accounted for the biggest market share. Depending on the types of tests available, the intermediate radiopharmaceutical test was the market leader. The other common tests used globally are renal nuclear medicine scan, parathyroid scan, gallium scan, bone scan, and white blood cell scan. Based on the application, oncology, urology, cardiology, and neurology are the common areas where these processes and isotopes are used. Out of these, oncology was the clear market leader in 2017. By route of administration, the report analyzes oral, intravenous and other types.
Regions like North America, Europe, Asia Pacific, the Middle East, and Africa and the rest of the world are studied for their demand and use of radiopharmaceutical products. Out of these, in the forecasted period, Asia Pacific will emerge the market leader, holding the maximum market shares. The CAGR of this region in the coming years is projected to be 9.3%. A detailed analysis of each of these regions is provided in the report. Also, the key players in these regions and their growth plans are discussed in the report. The report gives vital insider information and market drivers for each of these areas.
At the beginning of October 2019, Lantheus, a company that made diagnostic hardware and handled nuclear medicines announced its plan to buy Progenics Pharmaceuticals, cancer drug maker. This acquisition will make Lantheus a market leader in the cancer diagnostic and drug industry.
Table of Contents – Major key Points
- Report Prologue
- Executive Summary
- Market Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Radiopharmaceutical Market, by Type
- Global Radiopharmaceuticals Market, by Type of Test
- Global Radiopharmaceutical Market, by Application
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