The global radiopharmaceuticals market size is projected to reach USD 9.54 billion by 2026. According to a report published by Fortune Business Insights, titled “Radiopharmaceuticals Market Size, Share & Industry Analysis, By Type (PET Radiopharmaceuticals, SPECT Radiopharmaceuticals), By Application (Neurology, Cardiology, Oncology, and Others), By End User (Hospitals & Clinics, Diagnostic Centres, and Others) and Regional Forecast, 2019-2026,” the market was valued at USD 4.86 billion in 2018. Driven by increasing number of successful clinical trials, the market will exhibit a CAGR of 9.0% from 2019-2026.
The report covers :
o Global radiopharmaceuticals market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast timeframe.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
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Leading Players operating in the Radiopharmaceuticals Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Lantheus Medical Imaging, Inc.
- Cardinal Health
- Norgine B.V.
- Advanced Accelerator Applications (Novartis AG)
- Bracco Diagnostic Inc.
- Jubilant Life Sciences Limited
- GE Healthcare (General Electric Company)
Driven by Increasing Number of Product Launches, Market to Expand at a High Rate
The increasing number of product launches has offered a wider scope for growth. The presence of several pipeline drugs will open up a potential for the growth of the market in the coming years. The increased investment has massively helped the development of these pipeline drugs. Increased emphasis on R&D of pipeline drugs has enabled the possibilities to explore the untapped potential that is carried by radiopharmaceuticals. In 2018, Norgine B.V. announced the launch of Lymphoseek, a radiopharmaceutical designed for oncological procedures. The report highlights new products, similar to Lymphoseek and gauges the impact of these products on the market.
North America to Witness Highest Growth; Growing Adoption of Nuclear Imaging to Aid Growth
The report segments the market on the basis of regional demographics into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America will emerge dominant in the coming years. The advancements in nuclear imaging has contributed to the growth of the market in North America. Increased awareness regarding the adverse effects of cancer and other serious diseases will create several growth opportunities for the companies operating in the regional market of North America.
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