Radiopharmaceuticals Market Research Report, Size, Share, Growth, Industry Analysis by Type (Diagnostic (SPECT Radiopharmaceuticals, PET Radiopharmaceuticals) and Therapeutic), Application (Neurology, Cardiology, Oncology and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) – Forecast till 2027
Radiopharmaceuticals Market -Overview
The radiopharmaceuticals market is expected to expand in the coming years as the delivery mechanism through pharmacies advances. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. By 2025, the global market is estimated to gain an 8.10% CAGR in the forecast period.
The rise in degenerative illnesses is projected to continue to have a major effect on the radiopharmaceuticals industry in the upcoming years. The high-paced research and development by the market companies are estimated to motivate the radiopharmaceuticals market share.
Radiopharmaceuticals Market Segmental Analysis
The segmental examination of the radiopharmaceuticals market is carried out on the basis of type, application, and region. The type segment of the radiopharmaceuticals market has been split into diagnostics and therapeutics. The application segment of the radiopharmaceuticals market comprises of cardiology, oncology, and neurology. The region segment of the radiopharmaceuticals market consists of Africa, the Americas, Europe, the Middle East, and the Asia-Pacific.
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Radiopharmaceuticals Market Regional Overview
The regional scrutiny of the radiopharmaceuticals market consists of Africa, the Americas, Europe, the Middle East, and the Asia-Pacific. The radiopharmaceutical market in North America is the largest, as this region has a high rate of nuclear medicine adoption. In addition, innovative therapeutic technologies are becoming more widely used in this region. Furthermore, North America is regarded for having a high purchasing power. All of these reasons are leading to the region’s explosive rise in radiopharmaceuticals. Furthermore, the total expansion of the US radiopharmaceutical firm is being fueled by the prevalence of cancer and cardiovascular disease. The well-established main players in this area will launch a new product during the projected year and expand the radiopharmaceuticals market. More demand for radiopharmaceuticals is being driven by government funding in the European region. In addition, Asia-Pacific is the region with the fastest increasing market. In this region, the demand for nuclear medicine is increasing due to the rising geriatric rate. In the radiopharmaceuticals sector, the Middle East and Latin America are the fastest-growing markets.
Radiopharmaceuticals Market Competitive Analysis
The signing of several international trade agreements is expected to boost the expansion of the market’s economy. The use of technology and a strategy-based approach is likely to increase the likelihood of future success. Many government agencies are providing fiscal stimulus to help their national markets recover, which is expected to boost global demand. The industry’s growth is expected to be fueled by market businesses’ investments in building strong e-commerce and retail channels. The reformative trends that are forming the global market are anticipated to lift the market. In the following months, the creation of strong delivery chains is expected to accelerate developments. The increase in the rate of innovation is expected to open up new market opportunities. The market’s heightened focus on high-revenue decision-making is expected to hasten its return to normalcy in the coming months. Organizations want to invest in technology and innovation for the post-COVID-19 future and need to maintain resilience for the next major upheaval. However, many companies are yet to address the delayed risks and potential vulnerabilities introduced during the pandemic’s growth ability.
The outstanding contenders in the radiopharmaceutical market are GE Healthcare, Lantheus Medical Imaging, Jubilant Life Sciences, Norgine B.V, Curium, Bracco Diagnostic, Novartis AG, Cardinal Health, Siemens Healthiness, JSC Isotopes, Curium, and Australian Nuclear Science and Technology.
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Radiopharmaceuticals Industry Updates:
July 2021 Evergreen Theragnostics, Inc., a leading radiopharmaceutical Contract Development and Manufacturing Organization (CDMO) has expanded its manufacturing facility in Springfield, NJ, in a significant strategic move. Evergreen has already begun expanding into developing a GMP state-of-the-art alpha emitter production center at its Springfield facility, which is slated to open in the next two months and will be combined into Evergreen’s current facility. Evergreen’s capabilities to serve alpha-based radiopharmaceutical programs from pre-clinical pharmaceutical research to commercial manufacture and supply will be bolstered by the addition, which will open in Q1 2022.
Aug 2021 POINT Biopharma Global Inc., a company dedicated to accelerating the discovery, development, and global access to life-changing radiopharmaceuticals, announced today that the 25-patient safety and dosimetry lead-in of the Company’s Phase 3 SPLASH study evaluating PNT2002 for the treatment of metastatic castration-resistant prostate cancer had been completed, and initial dosing has begun (mCRPC). Patients with PSMA-expressing mCRPC who had progressed on ARAT therapy but were ineligible or opposed to chemotherapy were enrolled in the open-label safety and dosimetry lead-in.
Table of Content
1 EXECUTIVE SUMMARY
1 OVERVIEW 23
1.1.1 MARKET SYPNOSIS 23
2 MARKET INTRODUCTION
2.1 SCOPE OF THE STUDY 24
2.2 RESEARCH OBJECTIVE 24
2.3 LIST OF ASSUMPTIONS 24
3 RESEARCH METHODOLOGY
3.1 OVERVIEW 26
3.2 DATA MINING 26
3.2.1 SECONDARY RESEARCH 27
3.2.2 PRIMARY RESEARCH 28
3.2.3 FORECASTING METHODS 29
3.3 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 31
3.3.1 BOTTOM-UP APPROACH 31
3.3.2 TOP-DOWN APPROACH 32
3.4 DATA TRIANGULATION 33
3.5 VALIDATION 33
4 MARKET DYNAMICS
4.1 OVERVIEW 34
4.2 DRIVERS 35
4.2.1 GROWING APPLICATION OF RADIOISOTOPES IN THE HEALTHCARE INDUSTRY 35
4.2.2 INCREASING USE OF RADIOPHARMACEUTICALS FOR THE DIAGNOSIS & TREATMENT OF CHRONIC DISEASES 35
4.2.3 TECHNOLOGICAL ADVANCEMENTS IN THE DIAGNOSTICS SECTOR 36
4.3 RESTRAINTS 37
4.3.1 SHORT HALF-LIFE OF RADIOPHARMACEUTICALS 37
4.3.2 HIGH COST OF RADIOPHARMACEUTICALS 37
4.4 OPPORTUNITY 38
4.4.1 TECHNOLOGICAL ADVANCEMENTS IN RADIOPHARMACEUTICAL OR MEDICINAL RADIO COMPOUNDS 38
5 MARKET FACTOR ANALYSIS
5.1 GLOBAL RADIOPHARMACEUTICALS MARKET: SUPPLY CHAIN ANALYSIS 39
5.1.1 NUCLEAR RESEARCH REACTORS (NRRS) 39
5.1.2 PROCESSORS 40
5.1.3 GENERATOR MANUFACTURERS 41
5.1.4 NUCLEAR PHARMACIES 41
5.1.5 PATIENTS AND HEALTH CARE PROVIDERS 41
5.2 PORTER’S FIVE FORCES MODEL 42
5.2.1 THREAT OF NEW ENTRANTS 43
5.2.2 BARGAINING POWER OF SUPPLIERS 43
5.2.3 BARGAINING POWER OF BUYERS 43
5.2.4 THREAT OF SUBSTITUTES 44
5.2.5 INTENSITY OF RIVALRY 44
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