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The global radiopharmaceuticals market value was USD 5.38 billion in 2023, driven by the increasing prevalence of chronic diseases across the globe. The market value is anticipated to grow at a CAGR of 7.5% during the forecast period of 2024-2032 to achieve a value of USD 10.31 billion by 2032.
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Owing to the presence of prominent pharmaceutical key players and well-funded research facilities, the North America region is estimated to maintain its dominance over the market share for radiopharmaceuticals. Meanwhile, the steady growth of the industry in leading Asia Pacific countries make a worthwhile contribution to the rising regional industry, which is projected to witness the fastest growth in the coming years. The SPECT segment, among the diagnostic radiopharmaceuticals, is extensively utilised in the maintenance of thyroid-related medical issues. Attributing to the commonality of these issues, the thyroid applications of radiopharmaceuticals is likely to witness robust growth during the forecast period. Moreover, under the therapeutic segment, oncology applications are estimated to grow in the coming years owing to a continual rise in the number of cancer cases. Although, due to the higher presence of alternatives in the therapeutic segment, the diagnostic pharmaceuticals are projected to achieve higher growth.
A radiopharmaceutical, also known as a medicinal radio compound, is a pharmaceutical drug containing radioisotopes that can be used as a diagnosis medication, as well as a therapeutic agent. Radiopharmaceuticals can be used for both chronic and critical diseases and are widely used in molecular imaging as biomarkers.
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By generators type, the market is segmented into:
Based on application, the industry can be divided into:
The end uses for radiopharmaceuticals include:
The EMR report looks into the regional markets of radiopharmaceuticals like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The radiopharmaceuticals sector is the fastest-growing segment in the pharmaceutical industry. The global market of radiopharmaceuticals is primarily propelled by the worldwide need for timely diagnostics and treatment of fatal diseases. Unhealthy lifestyles of people all over the world has resulted in a higher prevalence of chronic diseases in recent years, and subsequently, the revolutionary utilisation of radiopharmaceuticals in diagnostics is gaining popularity in the healthcare sector.
Moreover, rising acceptance of disease specific therapy, enhanced patient awareness regarding accurate and timely diagnosis, and expanding applications of molecular imaging are some other factors providing a boost to the market growth for radiopharmaceuticals. Meanwhile, various factors including supply volatility and competition from conventional diagnostic procedures, are likely to impede the market growth. Nevertheless, constant growth in the research and development sector, and high capital investment are estimated to counter any such hurdles.
The report presents a detailed analysis of the following key players in the global radiopharmaceuticals market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Applications |
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Breakup by Volume Assessment |
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Breakup by Source |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The radiopharmaceuticals Market was valued at USD 5.38 billion in 2023.
The market is expected to grow at a CAGR of 7.5% from 2024 to 2032 to reach a value of USD 10.31 billion by 2032.
The deployment of radiopharmaceuticals in SPECT diagnosis owing to the commonality of thyroid, and the oncology segment of therapeutics is driving the market growth.
The rising prevalence of radiopharmaceuticals to effectively diagnose and treat chronic diseases caused by unhealthy lifestyle is expected to propel the market growth of radiopharmaceuticals.
The major regional markets for radiopharmaceuticals are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The different types of generators used in the radiopharmaceutical industry are W-188/Re-188 generators, Mo-99/Tc-99m generators, Sr-82/Rb-82 generators, Sr-90/Y-90 generators, and Ge-68/Ga-67,68 generators.
The significant applications of radiopharmaceuticals are diagnostic radiopharmaceuticals, therapeutic radiopharmaceuticals, and theranostics.
The major end use sectors of the radiopharmaceutical industry are hospitals, and diagnostic centres.
The major players in the industry are Jubilant Pharma Holdings Inc., Clarity Pharmaceuticals, and Cardinal Health, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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