Radiopharmaceuticals Global Market To Reach Value Of About $ 5.88 Billion In 2023
The global radiopharmaceuticals market is expected to decline from $5.07 billion in 2019 to $4.78 billion in 2020 at a compound annual growth rate (CAGR) of -5.72%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $5.88 billion in 2023 at a CAGR of 7.13%.
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.
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The global radiopharmaceuticals market is further segmented based on type and geography.
By Type: Diagnostic, Therapeutic, Others.
By Application: Oncology, Cardiology, Gastroenterology, Neuroendocrinnology, 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. Among these regions, the North America radiopharmaceuticals market accounts for the largest share in the global radiopharmaceuticals market.
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Trends In The 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
Radiopharmaceuticals Global Market Report 2020 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.