What Is The Current and Historic Market Size Analysis Of The Radiopharmaceuticals Market?
The radiopharmaceuticals market has seen considerable growth due to a variety of factors.
• The size of the radiopharmaceuticals market has seen consistent growth in the past few years. The market is expected to increase from $6.46 billion in 2024 to $6.77 billion in 2025, with a compound annual growth rate (CAGR) of 4.7%.
The earlier growth can be linked to factors such as increased health care spending, governmental efforts, the ease of treatment and alterations in living habits.
What are the Market Size and Expected Growth Rates for the Radiopharmaceuticals Market?
The radiopharmaceuticals market is expected to maintain its strong growth trajectory in upcoming years.
• The market for radiopharmaceuticals is anticipated to experience a swift expansion in the coming years, escalating to a worth of $10.59 billion by 2029 at a compound annual growth rate (CAGR) of 11.8%.
Factors contributing to the projected growth in this period include a surge in the elderly population, rising instances of cancer and cardiovascular disorders, significant capital investments, and the introduction of new products. Key strategies anticipated during the forecast period consist of forming partnerships with other businesses to increase revenue and enhance product quality, capitalizing on plant expansion to meet growing demands, and investing in modern technologies to accommodate emerging needs. It will also involve utilizing in silico modelling for a more logical and scientific approach, leveraging artificial intelligence to trim down R&D expenses and expedite drug development, investing in cardiology-related tech to augment revenues, and adopting disease-specific methods facilitating precise and timely cancer diagnosis.
Which Key Drivers Are Propelling The Radiopharmaceuticals Market's Growth?
The growing rates of cancer and cardiovascular diseases are anticipated to boost the demand in the radiopharmaceuticals market. The emergence of radiopharmaceuticals as an effective and safe alternative to conventional medicines is evident. With their benefits, such as targeted therapy, radiopharmaceuticals provide an advantage to radiologists in treating cancer and cardiovascular diseases. Cancer ranks as the second leading cause of mortality, with approximately one in six global deaths attributed to it. For instance, in April 2024, the France-based specialized agency, International Agency for Research on Cancer (IARC), reported that in 2022, close to 20 million new cancer cases and 9.7 million cancer-related deaths occurred worldwide. They project this figure to rise to 29.9 million fresh cases and 15.3 million deaths annually by 2040. Therefore, the escalating incidence of cancer and cardiovascular diseases are projected to bolster the demand for radiopharmaceuticals in treating these ailments.
What Are The Key Segments Within The Global Radiopharmaceuticals Market?
The radiopharmaceuticals market covered in this report is segmented –
1) By Type: Diagnostic, Therapeutic
2) By Application: Oncology, Cardiology, Gastroenterology, Neuroendocrinology, Musculoskeletal, Respiratory, Nephrology, Other Applications
3) By End User: Hospitals And Ambulatory Surgical Centers, Diagnostic Centers, Cancer Research Institutes
Subsegments:
1) By Diagnostic: Positron Emission Tomography (PET) Radiopharmaceuticals, Single Photon Emission Computed Tomography (SPECT) Radiopharmaceuticals
2) By Therapeutic: Alpha Emitters, Beta Emitters, Brachytherapy
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What New Trends Are Influencing The Radiopharmaceuticals Market?
Numerous businesses are implementing strategic moves, like setting up new production sites and ramping up plant capacities, all of which are garnering substantial traction in the radiopharmaceuticals market. For example, ITM Isotopen Technologien Munchen AG (ITM) has publicised the inauguration of its fresh manufacturing plant in Munich’s vicinity with the objective of escalating the production of high-purity (n.c.a) Lutetium-177 and no-carrier-added (n.c.a) Lutetium-177 bearing radiopharmaceuticals. Widely recognised as EndolucinBeta, Lutetium-177 is a groundbreaking isotope employed in cancer treatment. This initiative is the enterprise's approach to fulfil the soaring need for high-grade medical isotopes for precision oncology around the globe.
Who Are the Key Players In The Radiopharmaceuticals Market?
Major companies operating in the radiopharmaceuticals market include:
• Cardinal Health
• Curium Pharma
• Siemens Healthineers AG
• Novartis AG
• General Electric Company (GE)
• IBA Group
• Bayer AG
• Lantheus Medical Imaging Inc.
• Bracco Imaging S.p.A.
• Eckert & Ziegler
• Nihon Medi-Physics Co. Ltd.
• Fujifilm Corporation
• ANSTO
• Yantai Dongcheng Pharmaceutical Group Co. Ltd.
• Bracco Imaging SpA.
• Canon Inc.
• China Isotope & Radiation Corporation (CIRC)
• Alliance Medical
• Advanced Accelerator Applications
• JSC Isotope
• Pharm-Sintez
• Synektik SA
• Polatom
• RadioMedic sro
• ÚJV Rež
• Actinium Pharmaceuticals Inc.
• Alseres Pharmaceuticals Inc.
• Avid Radiopharmaceuticals
• Fusion Pharmaceuticals
• Peregrine Pharmaceuticals Inc.
• PETNET Solutions Inc.
• Positron Corporation
• Triad Isotopes Inc.
• Telix Pharmaceuticals
• Rosatom
• Alliance Medical Group
• Hologic Inc.
• Segami Corporation
• Eczacýbaþý-Monrol Nuclear Products
• NTP Radioisotopes.
What Are The Regional Insights Into The Radiopharmaceuticals Market?
North America was the largest region in the global radiopharmaceuticals market in 2024. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the radiopharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
