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Radiopharmaceutical Market Will Likely Witness Growth Encouraged by Advancements in Nuclear Medicine

Revenue-wise, the global radiopharmaceuticals market is estimated to attain a value of US$7,430.8 million by 2024, mounting from its calculated worth of US$5,145.1 million as of 2017.


Albany, NY -- (SBWIRE) -- 06/22/2018 -- Radiopharmaceuticals are imperative in facilitating apt therapeutics for critical medical conditions pertaining to immunology, oncology, and neurology among others. Application of nuclear medicines has contributed amply towards the growth of radiopharmaceutical market. In its recent healthcare report titled, 'Radiopharmaceutical Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024', Market Research Hub (MRH) evaluates the impact of recent trends and developments on the growth of radiopharmaceutical market.

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Technology Up-Gradation Remains at the Fore for Radiopharmaceutical Market

Radiopharmaceuticals market is experiencing a major enhancement phase owing to the myriad transformations incorporated by market players in radiopharmaceuticals market. Incorporation of new technology to attain critical findings based on isotopes is ensuring sustainable growth in radiopharmaceuticals market.

A recent report confirmed the approval of GE Healthcare's radiopharmaceutical supplement, DaTscan which will find ample use in the diagnosis and treatment of parkinsonian syndrome. This is a major breakthrough for the company to establish a strong foothold in the radiopharmaceutical market.

Additionally, IBA a leading provider of radiopharmaceutical cyclotrons has recently bagged a new project from Arizona Isotopes Science Research Corp. The company is entrusted to install Cyclone 70 system. The venture will leverage isotope production at a continuous level which will aid in superior diagnosis of critical medical maladies such as cardiovascular diseases. With this deal in place, IBA anticipates to harbor stability and strengthen its position in radiopharmaceutical market.

Illustrative research components compiled in the report brief readers about the various factors that drive the market. This section of the report enlists the segments that are prevalent in radiopharmaceutical market, which include, radioisotope, source, end-user, and application. Based on radioisotope, the radiopharmaceutical market is split as technetium-99, gallium-67, iodine-123, 18f, rubidium-82, yttrium-90, lutetium-177. On the basis of source the radiopharmaceutical market is sectioned as nuclear reactors and cyclotrons. Based on end-user the market is fragmented as hospitals, ambulatory surgical centers, diagnostic centers and others. On the basis of application the radiopharmaceutical market is bifurcated as cardiology, gastroenterology, oncology, nephrology, neurology, immunology, and others. Readers can gain vital insights about the segment that is identified as a major revenue driver. Also readers can analyze the impact of these segments on the holistic growth of radiopharmaceutical market.

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Alongside, the report also outlines the regional segmentation of radiopharmaceutical market. Based on region the radiopharmaceutical market is segmented as Europe, North America, Latin America, Asia-Pacific, and Middle East and Africa. Based on the research findings encapsulated in the report, readers can gauge the impact of strategies applied by leading players on customer response besides comprehending the impact of these strategies on the growth of radiopharmaceutical market.

Competitive Landscape in Radiopharmaceutical Market

Veritable insights compiled in the report aid readers to understand the influence of winning marketing tactics in driving favorable customer response and purchase decisions. Analyzing these core report statistics can guide new and existing market players to devise business objectives that incur maximum profit. Leading players identified in radiopharmaceutical market are Advanced Accelerator Applications (AAA), Eckert & Ziegler, GE Healthcare, IBA Radiopharma Solutions, Lantheus Holdings, Inc., Mallinckrodt PLC, Nordion, Inc., Siemens Healthineers, and Positron Corporation.

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