Overview:
Radiopharmaceutical medications consist radioactive isotopes that are utilized in diagnosis or treatment of cancer. These can be oral, intravenous or interstitial medications. They are inserted into patient’s body and when they reach the targeted body part, they release these radioactive agents in order to kill the tumor cells. There are various types of oral radiopharmaceuticals that are used in cancer diagnosis such as Gallium Citrate Ga 67, Fludeoxyglucose F 18, Radioiodinated Iobenguane, and Methionine C 11 among various others.
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Impact of COVID-19 Pandemic:
The outbreak of coronavirus in China spread across more than 100 countries around the world. It adversely impacted several industries including medical care. Due to rapidly increasing cases of Covid-19, the diagnosis and management procedures of cancers were disrupted. Many of the non-emergency surgeries and treatment procedures along with radiation therapy were disrupted during the pandemic, which negatively affected the oncology radiopharmaceuticals market.
Market Drivers:
Rise in initiatives for R&D of oncology radiopharmaceuticals taken by government of many countries is expected boost growth of the global oncology radiopharmaceuticals market over the forecast period. For instance, in 2019 the National Cancer Institute announced the launch of Radiopharmaceutical Development Initiative (RDI) for boosting the number of trials for potential novel radiopharmaceuticals along with to increase clinical testing of novel drugs.
Furthermore, major players in the market continue to focus on R&D of oncology radiopharmaceuticals, which is likely to augment growth of the global oncology radiopharmaceuticals market over the forecast period. For instance, in March 2022, a leading pharmaceutical company, Novartis AG announced positive results of Phase 3 trials of radioligand therapy 177Lu-PSMA-617 designed to treat patient with advanced prostate cancer.
Regional Insights:
North America among regions is anticipated to witness substantial growth in the global oncology radiopharmaceuticals market over the forecast period. This is due to early approvals of radioactive isotopes in the region. For instance, in 2013, the U.S. Food and Drug Administration (FDA) granted approval to Bayer AG for its Xofigo for treatment of cancer.
Key Takeaways:
- The global oncology radiopharmaceuticals market is estimated to show a CAGR of 6.0% over the forecast period, this is due to rise development of novel radiopharmaceuticals for catering the opportunities in the market. For instance, in October 2021, a biotech company, RayzeBio announced the launch of US$ 45 Mn series A funding for advancing the development of company’s wide pipeline of targeted radiopharmaceuticals.
- Technetium-99m among types is anticipated to show a strong growth in the global oncology radiopharmaceuticals market during the forecast period as it allows the diagnosis of several diseases which also include cancers related to bone metastasis.
- Oral segment among route of administration is likely to witness robust growth in the global oncology radiopharmaceuticals market over the forecast period. This is due to availability of radiopharmaceuticals that are orally administered such as Technetium Tc 99m, Technetium Tc 99m Arcitumomab, and Gallium Citrate Ga 67 among others.
- Diagnosis segment among application is anticipated to witness substantial growth in the global oncology radiopharmaceuticals market over the forecast period, owing to rise in awareness about early diagnosis.
- Diagnostic centers segment among end users is projected to witness high growth in the global oncology radiopharmaceuticals market over the forecast period and this is due to rise in cases of cancer all over the world. For instance, as per the National Cancer Institute, in 2021, breast cancer affected 284,200 people in the U.S. being the most common cancer type.
Key Players:
Key players functioning in the global oncology radiopharmaceuticals market are Novartis AG, Jubilant Pharma Limited, Siemens Healthcare GmbH, Cardinal Health, GE Healthcare, Zionexa, Curium, Bayer AG, International Isotopes, Inc., Acrotech Biopharma, Lantheus Medical Imaging, Inc., Blue Earth Diagnostics, Eckert & Zieger, and Nordion.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Oncology Radiopharmaceuticals Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Oncology Radiopharmaceuticals Industry Impact
Chapter 2 Global Oncology Radiopharmaceuticals Competition by Types, Applications, and Top Regions and Countries
2.1 Global Oncology Radiopharmaceuticals (Volume and Value) by Type
2.3 Global Oncology Radiopharmaceuticals (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Oncology Radiopharmaceuticals Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Oncology Radiopharmaceuticals Market Analysis
Chapter 6 East Asia Oncology Radiopharmaceuticals Market Analysis
Chapter 7 Europe Oncology Radiopharmaceuticals Market Analysis
Chapter 8 South Asia Oncology Radiopharmaceuticals Market Analysis
Chapter 9 Southeast Asia Oncology Radiopharmaceuticals Market Analysis
Chapter 10 Middle East Oncology Radiopharmaceuticals Market Analysis
Chapter 11 Africa Oncology Radiopharmaceuticals Market Analysis
Chapter 12 Oceania Oncology Radiopharmaceuticals Market Analysis
Chapter 13 South America Oncology Radiopharmaceuticals Market Analysis
Chapter 14 Company Profiles and Key Figures in Oncology Radiopharmaceuticals Business
Chapter 15 Global Oncology Radiopharmaceuticals Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
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