Radiopharmaceuticals Global Market To Reach Value Of About $7 Billion In 2025

26 Oct, 2021

The radiopharmaceuticals market consists of sales of radiopharmaceuticals and related services by entities (organizations, sole traders, and partnerships) that produce radiopharmaceuticals used in treating cancer, cardiovascular, and other diseases. Radiopharmaceuticals are radioactive compounds administered to the patients, monitored via specific imaging devices, and used for diagnostic and therapeutic purposes.

Global Radiopharmaceuticals Market Size And Drivers:

The global radiopharmaceuticals market is expected to grow from $4.78 billion in 2020 to $5.12 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.75 billion in 2025 at a CAGR of 7%. The increasing prevalence of cancer and cardiovascular diseases is projected to drive the demand for the radiopharmaceuticals market.

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Trends In The Global Radiopharmaceuticals Market

Research collaborations and partnerships are gaining significant popularity in the radiopharmaceuticals market over recent years. Major companies operating in the radiopharmaceuticals market are collaborating with other industry players to conduct R&D activities to expand their business. For instance, in March 2020, Debiopharm, a Switzerland-based biopharmaceutical company, signed a research agreement with 3B Pharmaceuticals (3BP), a Germany-based biotechnology firm, to develop the Debio 0228 radioligand program, targeting CAIX (Carbonic Anhydrase 9) enzyme to fight the progression of cancer.

Global Radiopharmaceuticals Market Segments:
The global radiopharmaceuticals market is further segmented –
By Type: Diagnostic, Therapeutic, Others
By Application: Oncology, Cardiology, Gastroenterology, Neuroendocrinology, Neurology, Nephrology, Others
By End User: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Cancer Research Institutes, Others
By Geography: The global radiopharmaceuticals market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Radiopharmaceuticals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides radiopharmaceuticals market overviews, analyzes and forecasts market size and growth for the global radiopharmaceuticals market, radiopharmaceuticals market share, radiopharmaceuticals market players, radiopharmaceuticals market segments and geographies, radiopharmaceuticals market’s leading competitors’ revenues, profiles and market shares. The radiopharmaceuticals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.