The global radiopharmaceuticals market is also segmented on the basis of end-user application into two categories namely hospitals and diagnostic centers. The hospitals accounted for the largest share of this market in 2012 on account of the high availability of skilled medical practitioners in the radiology departments of hospitals. However, rising number of diagnostic centers especially in developed countries such as the U.S. is expected to accelerate the growth of the radiopharmaceuticals for diagnostic centers market in the future.
Unique medicinal formulations containing radioisotopes are referred to as radiopharmaceuticals. These radiopharmaceuticals are used for diagnostic and therapeutic purposes. Radiopharmaceuticals are divided into four major categories namely radiopharmaceutical preparation (medicinal ready to use suitable for a human product containing a radionuclide), radionuclide generator (a system which generates a daughter radionuclide), radiopharmaceutical precursor (a radionuclide produced for radio-labeling) and radiopharmaceutical preparation kit (vial containing non-radionuclide components of a radiopharmaceutical preparation).
Growing preference for disease targeted cancer therapy, increasing patient awareness levels demanding accurate diagnosis and expanding applications of molecular imaging are some of the drivers of the global radiopharmaceuticals market. Technological advancements enabling the use of radiolabeled peptides and monoclonal antibodies for the diagnosis and treatment of cancerous tumors is (referred to as radiopharmaceutical based personalized therapy) will fuel future growth of this market.
Our market research study takes a closer look at the radiopharmaceutical industry, providing a holistic perspective on market dynamics, patient preference, disease trends, and supply and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as microenvironmental level. The study aims at providing granular information, regarding estimates and forecasts for five major generator types namely Mo-99/Tc-99m, W-188/Re-188 generators, Sr-82/Rb-82 generators, Sr-90/Y-90 generators, and Ge-68/Ga-67,68 generators.
This report also analyzes the market in terms of applications by segmenting the market into two major types’ namely diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals. The diagnostic radiopharmaceuticals market dominates the overall market in terms of market share on account of the high usage rate of molecular imaging in the field of diagnosis.
The report also provides the same level of information for key regional markets. North America, Europe, Asia Pacific, and the Rest of the world constitute the geographical segmentation of the radiopharmaceuticals market.
North America holds the largest market share in the overall radiopharmaceuticals market. Radioisotope sources such as Canada’s National Research Universal Reactor and MDS Nordion meet the demand for radioisotopes in this region. However, the recent shutdown of the National Research Universal Reactor has caused a supply-demand gap. This facility supplied Mo-99 which is a precursor to Tc-99 which is one of the most used radioisotopes in the U.S.
The Asia-Pacific radiopharmaceuticals market on the other hand will grow at the fastest rate during the forecast period owing to a rise in the demand for PET and SPECT devices induced by rising patient awareness levels pertaining to cardiovascular diseases and oncology.
This research study encompasses a competitive landscape of the radiopharmaceuticals market. Revenue analysis, product benchmarking, and strategic developments of key market players such as Cardinal Health Inc., GE Healthcare, IBA Group, Lantheus Medical Imaging, Covidien Plc, Positron Corporation, NTP Radioisotopes Pty Ltd. and others are also provided in this report.
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Amongst the majorly used Covid-19 screening options, imaging is preferred by most healthcare professionals as it provides a primary diagnosis in a short time. All the imaging modalities including nuclear imaging have been used exhaustively to study Covid-19 and its effect on different patients in each demography. These are used in theories such as comparison of the vulnerability of pediatric and geriatric patients, and treatment response for several drug combinations. The rising requirement for advanced lung imaging solutions is expected to boost the development studies for lung phantoms. A detailed study on lung deterioration in Covid-19 patients is expected to provide advanced measures for early detection of the disease. The report will account for Covid19 as a key market contributor.