Radiopharmaceuticals Market – Global Outlook & Forecast 2021-2031

Radiopharmaceuticals Market – Global Outlook & Forecast 2021-2031

Radiopharmaceuticals Market Introduction

Radiopharmaceuticals are unique medicinal formulations containing radioisotopes/radionuclides/ radioactive isotopes bond to an organic molecule. Radioisotopes serve as beneficial source of ionizing radiation and are used in major clinical areas for diagnosis and/or therapy. Radioisotopes are mainly produced in nuclear reactors or in cyclotrons. Radioisotopes emitting gamma rays are used for diagnostic (imaging) purposes where the radiation has to escape the body before being detected by a specific device (SPECT/PET cameras). Whereas, radioisotopes emitting short range particles (alpha, beta or auger electron) are used for therapy owing to their power to lose all their energy over a very short distance, thereby causing a lot of local damage. This property is used for therapeutic purposes in cancer cells destruction, pain treatment in palliative care for bone cancer or arthritis etc.

Market - Headwinds & Tailwinds

The global radiopharmaceuticals market is mainly driven by rising prevalence of various chronic diseases, increasing awareness for early diagnosis of the diseases, advancements in molecular imaging techniques, and government initiatives to promote radiopharmaceuticals development. Furthermore, robust pipeline of products is also expected to play a pivotal role in contributing to the growth of the market globally. However, lack of harmonized regulatory guidelines is likely to restrain the market growth to a certain extent.

Radiopharmaceuticals Market Report

 

Market Segmentation & Insights

The global radiopharmaceuticals market has been analyzed from three perspectives: Type, Application and Region.

Radiopharmaceuticals Market by Type

Based on type, the market has been segmented into diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals. The diagnostic radiopharmaceuticals are further categorized into SPECT radiopharmaceuticals and PET radiopharmaceuticals. Whereas, therapeutic radiopharmaceuticals are further categorized into alpha emitters, beta emitters, and auger electron (AE) emitters. The diagnostic radiopharmaceuticals segment accounted for the largest share in the market. Diagnostic radiopharmaceuticals, also known as functional imaging or molecular imaging, enables physicians to accurately diagnose and stage complex diseases, such as neurological and cardiovascular disorders in early stages. Majority of radiopharmaceuticals are used for medical diagnostic purposes, and generally do not have concrete pharmacological effects on the body.

Radiopharmaceuticals Market by Application

Based on application, the radiopharmaceuticals market has been segmented into cardiovascular disorders, oncological disorders, neurological disorders, orthopedics disorders and others (endocrine disorders, respiratory disorders, gastrointestinal diseases, etc.). The oncological disorders segment holds the largest share in the market. Factors such as increasing incidences of cancer coupled with the growing geriatric population are playing a key role in propelling the growth of this segment. Moreover, increasing research activities for the development of radiopharmaceuticals that can be utilized for the diagnosis or treatment of cancer and new product launches by market players are also driving the growth of the oncological disorders segment.

Radiopharmaceuticals Market by Region

Based on region, the global radiopharmaceuticals market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the radiopharmaceuticals market, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to the presence of prominent players, increasing incidences of conditions such as cancer, cardiovascular diseases, neurological diseases, orthopedic diseases and adoption of advanced technologies for disease diagnosis & treatment.

Competitive Landscape

The radiopharmaceuticals market is marked by presence of prominent players such as Bayer, General Electric, Cardinal Health, Lantheus Medical Imaging, Inc., Bracco Diagnostic Inc., CURIUM, Nordion (Canada) Inc., Eczacıbaşı-Monrol, Advanced Accelerator Applications, SHINE Medical Technologies, LLC. Other players operating in the market NorthStar Medical Technologies, Eckert & Ziegler, Jubilant Radiopharma, Global Medical Solutions, among others.

Snapshot: Industry Developments

  • In Apr 2020, Advanced Accelerator Applications announced Health Canada’s approval for NETSPOT, a diagnostics imaging agent kit to detect neuroendocrine tumors. It is the first and only kit for the preparation of gallium (68Ga) oxodotreotide injection, a radioactive diagnostic agent for positron emission tomography (PET) imaging
  • In Mar 2020, Curium acquired Zevacor Molecular (a leader in the production of Strontium-82). This acquisition was aimed to expand the company’s portfolio in the positron emission tomography market
  • In Jan 2020, Jubilant Radiopharma received Health Canada’s approval for Drax Exametazime, a kit for the preparation of Tc99m Exametazime in leukocyte labeling. Drax Exametazime is utilized for the diagnosis of intra-abdominal infection and inflammatory bowel diseases
  • In Jan 2020, SHINE Medical Technologies entered into a collaboration with the Institute of Organic Chemistry and Biochemistry (IOCB) and GE Healthcare for the production of doses of the therapeutic isotope lutetium-177(LU-177), which is used in the treatment of neuroendocrine cancers

 

Key Insights Captured in the Report

  • Quantitative (market size and forecasts) and qualitative insights of the market across years - historical years, current year and forecasted years
  • Deep-rooted insights on headwinds, tailwinds and opportunities prevailing in the market
  • Quantitative (market size and forecasts) and qualitative insights at segment and sub-segment level
  • Comprehensive quantitative (market size and forecasts) and qualitative insights on geographic, regional and country level markets
  • Granular insights on the competitive landscape prevailing in the market
  • Competitive mapping of strategic developments 

     

Scope of the Radiopharmaceuticals Market Report:

Report Metrics Details
Market Size Period 2018-2031
Base Year 2020
Forecast Period 2021-2031
Market Segments Asessment of Radiopharmaceuticals Market By:
• Type
• Application
• Region
Geographic Scope North America
◦ U.S.
◦ Canada
Europe
◦ Germany
◦ UK
◦ France
◦ Rest of Europe (RoE)
Asia Pacific
◦ China
◦ Japan
◦ India
◦ Rest of Asia Pacific (RoAPAC)
Rest of the World
◦ Latin America
◦ Middle East & Africa
Companies Covered Bayer, General Electric, Cardinal Health, Lantheus Medical Imaging, Inc., Bracco Diagnostic Inc., CURIUM, Nordion (Canada) Inc., Eczacıbaşı-Monrol, Advanced Accelerator Applications, SHINE Medical Technologies, LLC., NorthStar Medical Technologies, Eckert & Ziegler, Jubilant Radiopharma, Global Medical Solutions, among others.

1 RESEARCH ENVELOPE

1.1 Market Classification

1.2 Scope of the Study

1.2.1 Timeline Considered for Market Study

· Historic Years – 2018 & 2019

· Base Year – 2020

· Projected Years – 2021 to 2031

1.3 Currency Used in the Report

2 RESEARCH METHODOLOGY

2.1 Research Approach

2.2 Data Collection Methodology

2.3 Data Sources

2.3.1 Secondary Sources

2.3.2 Primary Sources

2.4 Market Crackdown Methodology

2.4.1 Bottom-Up Approach

2.4.2 Top-Down Approach

2.5 Data Forecasting Model

2.6 Limitations and Assumptions for Study

3 HEADWINDS & TAILWINDS ASSESSMENT

4 MARKET OPPORTUNITIES ASSESSMENT

5 PREMIUM INSIGHTS

5.1 Key Market Trends

5.2 Key Players & Their Competitive Positioning (2020)

5.3 COVID-19 Impact Assessment

5.4 Pipeline Assessment

6 GLOBAL RADIOPHARMACEUTICALS MARKET - ANALYSIS & FORECAST, BY TYPE

6.1 Diagnostic Radiopharmaceuticals

6.1.1 SPECT Radiopharmaceuticals

6.1.2 PET Radiopharmaceuticals

6.2 Therapeutic Radiopharmaceuticals

6.2.1 Alpha Emitters

6.2.2 Beta Emitters

6.2.3 Auger Electron (AE) Emitters

7 GLOBAL RADIOPHARMACEUTICALS MARKET - ANALYSIS & FORECAST, BY APPLICATION

7.1 Cardiovascular Disorders

7.2 Oncological Disorders

7.3 Neurological Disorders

7.4 Orthopedics Disorders

7.5 Others (Endocrine Disorders, Respiratory Disorders, Gastrointestinal Diseases, etc.)

8 GLOBAL RADIOPHARMACEUTICALS MARKET - ANALYSIS & FORECAST, BY REGION

8.1 North America Radiopharmaceuticals Market

8.1.1 North America Radiopharmaceuticals Market, By Country

8.1.1.1 U.S.

8.1.1.2 Canada

8.1.2 North America Radiopharmaceuticals Market, By Type

8.1.3 North America Radiopharmaceuticals Market, By Application

8.2 Europe Radiopharmaceuticals Market

8.2.1 Europe Radiopharmaceuticals Market, By Country/Region

8.2.1.1 Germany

8.2.1.2 U.K

8.2.1.3 France

8.2.1.4 Rest of Europe (ROE)

8.2.2 Europe Radiopharmaceuticals Market, By Type

8.2.3 Europe Radiopharmaceuticals Market, By Application

8.3 Asia Pacific Radiopharmaceuticals Market

8.3.1 Asia Pacific Radiopharmaceuticals Market, By Country/Region

8.3.1.1 China

8.3.1.2 Japan

8.3.1.3 India

8.3.1.4 Rest of Asia Pacific (RoAPAC)

8.3.2 Asia Pacific Radiopharmaceuticals Market, By Type

8.3.3 Asia Pacific Radiopharmaceuticals Market, By Application

8.4 Rest of the World (RoW) Radiopharmaceuticals Market

8.4.1 Rest of the World Radiopharmaceuticals Market, By Region

8.4.1.1 Latin America

8.4.1.2 Middle East & Africa

8.4.2 Rest of The World Radiopharmaceuticals Market, By Type

8.4.3 Rest of The World Radiopharmaceuticals Market, By Application

9 COMPANY PROFILES

9.1 Bayer

9.1.1 Business Overview

9.1.2 Financial Metrics*

9.1.3 Product Portfolio

9.1.4 Key Developments

9.2 General Electric

9.3 Cardinal Health

9.4 Lantheus Medical Imaging, Inc.

9.5 Bracco Diagnostic Inc.

9.6 CURIUM

9.7 Nordion (Canada) Inc.

9.8 Eczacıbaşı-Monrol

9.9 Advanced Accelerator Applications

9.10 SHINE Medical Technologies, LLC

*Insights on financial metrics is subject to availability of information in the public domain

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