Asia Pacific Radiopharmaceuticals Market To Reach $3.76 Billion By 2030

Asia Pacific Radiopharmaceuticals Market Growth & Trends

The Asia Pacific radiopharmaceuticals market size is estimated to reach USD 3.76 billion by 2030, expanding at a CAGR of 10.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Radiopharmaceuticals are widely used in the field of oncology, and cardiovascular diseases. Ongoing research and studies demonstrating positive results are widening the scope of radioisotope applications for the diagnosis and treatment of bone diseases, respiratory diseases, thyroid-related diseases, and conditions of the digestive tract. Along with these applications, the radioisotopes are largely used in radiopharmacology to study drug movement in lab subjects.

Gamma emitter Technetium-99m is the most commonly used radioisotope in radiopharmaceuticals. Other widely used radioisotopes include Fluorine-18, Indium-111, and Iodine-131. Numerous research studies are further expanding the application areas of radiopharmaceuticals in diagnostics as well as in therapeutics.

The adoption of PET as a diagnostic tool is rapidly increasing since it offers high accuracy over other diagnostic techniques. The accuracy in the diagnosis has a direct impact on the decision-making and treatment monitoring process. PET is commonly integrated with X-ray and computed tomography to increase the accuracy. The growing demand for these diagnostic procedures is expected to fuel market growth during the forecast period.

Currently available cancer treatment options, such as chemotherapy and radiation therapy, include drugs and radiations, which are non-target specific. Thus, these therapies have a major disadvantage of affecting the whole body or the organs surrounding the target site. Radioisotopes have an advantage over these techniques since they aid in targeting specifically the tumor without affecting the surrounding body parts. Thus, benefits associated with these diagnostic and treatment procedures is augmenting the demand for radiopharmaceuticals in disease treatment and diagnosis.

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Asia Pacific Radiopharmaceuticals Market Report Highlights

• The buyers of radiopharmaceutical include hospitals, physicians, diagnostic laboratories, research institutes, and others. Hospitals form the biggest buyer groups owing to their high patient turnover and greater financing capabilities.

• Therapeutic products such as Alpha Emitters, Beta Emitters, and Brachytherapy are anticipated to exhibit lucrative growth. The emergence of new treatment options for thyroid and other diseases is expected to support the growth over the forecast period.

• The key diagnostic application areas of radiopharmaceuticals formed the largest market in 2023. These applications are in cardiology, neurology, oncology, and thyroid. The advent of accurate diagnostic methods and high burden of disorders supported the growth of this segment.

• Thailand in South East Asia and China are expected to dominate the APAC radiopharmaceutical market. Efforts undertaken by the UN and other local healthcare authorities in this region are expected to result in the installation of more PET and SPECT systems, thereby driving the demand.

• Key players of the industry include Nordion, Inc., ANSTO, Mallinckrodt Public Limited company, IRE - IRE ELiT - BE, Bracco Imaging S.P.A and government initiatives such as the Institute of Radioisotopes and The Australian Nuclear Science and Technology Organization (ANSTO).

Asia Pacific Radiopharmaceuticals Market Segmentation

Grand View Research has segmented the Asia Pacific radiopharmaceuticals market based on product, application, end use, and region:

Asia Pacific Radiopharmaceuticals Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostics

  • SPECT

  • PET

• Therapeutics

  • Alpha Emitters

  • Beta Emitters

  • Brachytherapy

Asia Pacific Radiopharmaceuticals Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiology

  • SPECT

  • PET

• Neurology

• Oncology

• Thyroid

  • SPECT

  • Therapeutic Applications

• Lymphoma

• Bone Metastasis

  • SPECT

  • Therapeutic Applications

• Endocrine Tumor

• Pulmonary Scans

• Urology

• Others

Asia Pacific Radiopharmaceuticals End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Centers

• Others

Asia Pacific Radiopharmaceuticals Country Outlook (Revenue, USD Million, 2018 - 2030)

• Asia Pacific

  • Japan

  • China

  • India

  • Singapore

  • Australia

  • South Korea

  • New Zealand

  • Thailand

  • Philippines

List of Key Players in Asia Pacific Radiopharmaceuticals Market

• Nordion Inc.

• Bracco

• IRE - IRE ELiT – BE

• NTP

• ANSTO

• ECZACIBA?I-MONROL

• Lantheus

• Eckert & Ziegler

• Mallinckrodt company

• Cardinal Health.