A recent report published by Infinium Global Research on radiopharmaceuticals market provides in-depth analysis of segments and sub-segments in the global as well as regional radiopharmaceuticals industry
Pune, India -- (SBWIRE) -- 11/29/2019 -- The Infinium Global Research analyzes the "Radiopharmaceuticals Market (Radioisotopes - Technetium-99, Thallium-201, Gallium-67, Iodine-123, Flourine-18, Rubidium-82, Yttrium-90, Lutetium-177, and Other Radioisotopes; End-users - Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Research Centers): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". The global radiopharmaceuticals market is projected to grow at a CAGR of 8.5% over the forecast period of 2019-2025.
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Increasing Research and Development in Radiopharmaceuticals is Anticipated to Create Fruitful Opportunities for the Growth of the Industry
The rapidly expanding rate of cancer and cardiovascular aliments acts as a major driver for the growth of the radiopharmaceuticals market. According to the World Cancer Report, cancer rates could increase by 50% to 15 million new cases in the year 2020. Furthermore, organizations opting for opening private partnerships to upgrade diagnostic imaging centers are also anticipated to create fruitful opportunities for the radiopharmaceuticals market. However, the high cost of the radioisotopes may hamper the growth of the Radiopharmaceuticals market. Moreover, increasing research and development in radiopharmaceuticals is anticipated to create fruitful opportunities for the growth of the radiopharmaceuticals market.
Fluorine-18 is Expected to Expand at the Highest CAGR During the Forecast Period
The report on the global Radiopharmaceuticals market is bifurcated into radioisotopes and end-users. Based on radioisotopes, the markets are further bifurcated into Technetium-99, Thallium-201, Gallium-67, Iodine-123, Flourine-18, Rubidium-82, Yttrium-90, Lutetium-177, and Others. Among the radioisotopes, Technetium-99 held the largest share of 61.6 % in the market in 2017 as approx. 70% of radiopharmaceutical companies depend on Mo- 99 to produce Technetium-99. However, the Flourine-18 is expected to expand at the highest CAGR during the forecast period due to technological advances in various fields such as accelerator technology and radiochemistry for cancer treatment. Based on end-users, the markets are further divided into Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others. Diagnostic centres segment is expected to continue to dominate the market as these products are dispersed to hospitals directly due to its high cost which needs reimbursement and other regulatory approval for use in patients.
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The U.S. is the Key Country that Contributes to the Largest Revenue in the North America Region
North America held the largest share of over 50% in the global radiopharmaceuticals market in 2017. The U.S. is the key country that contributes to the largest revenue in the North America region. Radiopharmaceuticals market as it is one of the leading countries in the healthcare sector. Furthermore, the installation of new cyclotrons, increasing incidence of cancer, a growing number of heart patients, and well-defined reimbursement policies from public and private health insurance firms contribute heavily to the growth of the radiopharmaceuticals market in the U.S.
Radiopharmaceuticals Market: Competitive Analysis
The radiopharmaceutical market is highly consolidated with few companies that offer advanced technology systems and nuclear medicines for treating diseases. The global market is dominated by the top five players, namely, GE Healthcare, Cardinal Health, Inc., Mallinckrodt Pharmaceuticals, Lantheus Medical Imaging, Inc. and Bayer AG. Furthermore, several major players are entering the market owing to the rapid growth potential of the radiopharmaceuticals industry. In December 2018, Swiss pharma giant, Novartis completed the acquisition of Endocyte, Inc., a US-based biopharmaceutical company focused on developing radioligand and CAR-T therapies for cancer treatment. Through this acquisition, Novartis plans to strengthen leadership in nuclear medicine and radio-ligand therapy for treating cancer.
Browse Detailed TOC, Description, and Companies Mentioned of the "Radiopharmaceuticals Market"
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the radiopharmaceutical.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.