Radiopharmaceuticals Market To Likely To Reach USD 7.13 Billion In 2021

With a plethora of market players such as GE Healthcare, Eczacibasi-Monrol Nuclear Products, Advanced Accelerator Applications S.A., Nordion, Inc., Lantheus Medical Imaging, Inc., Bayer Healthcare, Mallinckrodt plc, Cardinal Health, Inc., IBA Molecular Imaging, Bracco Imaging S.p.A, Siemens Healthcare, and Jubilant Pharma, the global radiopharmaceuticals market is all set to expand at a rapid speed in the years to come.

According to the analysts at Zion Market Research, the global radiopharmaceuticals market was capitalized at almost USD 4.32 Billion in 2015. In addition to this, the global radiopharmaceuticals market is anticipated to reach almost USD 7.13 Billion in 2021, increasing at a CAGR of over 8.8% from 2016 to 2021.

View Detail Report: “Radiopharmaceuticals Market by Type (Diagnostic Radiopharmaceuticals and Therapeutic radiopharmaceuticals), for Cardiology, Neurology, Oncology and Other Applications- Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021” report at https://www.zionmarketresearch.com/report/radiopharmaceutical-market

Rising Patient Awareness To Boost The Global Radiopharmaceuticals Market

The global radiopharmaceuticals market is increasing at a noteworthy pace due to rising patient awareness for precise diagnosis of disease, increasing application of molecular imaging, and rising preference of disease-aimed cancer therapy. On the other hand, factors such as shorter stringent regulatory rules and half-life of radiopharmaceuticals can hinder the global radiopharmaceuticals market.

Various activities held by market leaders and government is also the reason for the development of global radiopharmaceuticals market. For instance, the International Atomic Energy Agency (IAEA) is among the top pioneers leading the development of high-tech nuclear tech in the use of radiopharmaceuticals. It conducted the 3rd Research Coordination Meeting from September 1–5, 2014 at its headquarters as fraction of a current IAEA coordinated research project. The project aimed on the growth of Ga-68 radiopharmaceuticals. The meeting comprised 17 organizations from all over the world that are operating to enhance the benefits of Ga-68.

PET Modality Sector To Dominate The Global Radiopharmaceuticals Market In The Years To Come

The global radiopharmaceuticals market is divided based on applications and type. The global radiopharmaceuticals market was ruled by SPECT modality in 2015. The PET modality section is likely to increase at a moderately higher rate in years to come owing to the higher precision in diagnosis and enhanced quality of the image. In addition to this, development of PET segment is attributed to increasing R&D activities particularly in up-and-coming nations. The development of global radiopharmaceuticals market is also attributed to widening scope of radiopharmaceuticals applications such as thyroid, oncology, and bone pain palliation.

Asia Pacific To Show A Steady Growth For Global Radiopharmaceuticals Market

In 2015, North America had the biggest market share in the global radiopharmaceuticals market. The global radiopharmaceuticals market for Asia Pacific, on the other hand, will develop at the quickest rate in the years to come due to an increase in the requirement for SPECT and PET devices. This development was induced by increasing levels of patient awareness pertaining to oncology and cardiovascular diseases, thereby boosting the global radiopharmaceuticals market. The leading nations of Asia Pacific, such as Japan, China, and India, will show a steady development rate in the years to come for the global radiopharmaceuticals market.

The global radiopharmaceuticals market is segmented as follows:

By Type

• Diagnostic Radiopharmaceuticals
  • SPECT 
  • PET 
• Therapeutic radiopharmaceuticals
  • Beta emitters
  • Alpha emitters
  • Brachytherapy isotopes

By Application

• Cardiology
• Neurology
• Oncology
• Other

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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