Radiopharmaceuticals Market Size to Garner USD 13.67 Billion by 2032

The global radiopharmaceuticals market size was estimated to be around US$ 5.2 billion in 2022. It is projected to reach US$ 13.67 billion by 2032, indicating a CAGR of 10.2% from 2023 to 2032.

Key Takeaways

• North America led the market with the highest market share of 44% in 2022.
• Asia-Pacific is expected to expand at the fastest CAGR during the forecast period.
• By Radioisotopes, the technetium-99m segment has held the largest revenue share of 45% in 2022.
• By Radioisotopes, the Gallium-68 segment is anticipated to grow at a noteworthy CAGR of 13.1% during the projected period.
• By Application, the cancer segment generated more than 53% of revenue share in 2022.
• By Application, the cardiology segment is projected to expand at the fastest CAGR over the projected period.
• By Type, the diagnostic segment contributed more than 67% of revenue share in 2022.
• By Type, the therapeutics segment is estimated to grow at the fastest CAGR over the projected period.
• By End User, the hospitals and clinics segment registered over 52% of revenue share in 2022.
• By End User, the medical imaging centers segment is estimated to grow at a remarkable CAGR of 14.8% over the predicted period.

Overview:

The Radiopharmaceuticals Market is a dynamic sector within the healthcare industry that revolves around the development, production, and application of radioactive pharmaceuticals for diagnostic and therapeutic purposes. These specialized drugs play a crucial role in nuclear medicine, aiding in the diagnosis and treatment of various medical conditions, including cancer, cardiovascular diseases, and neurological disorders. Radiopharmaceuticals emit radiation that can be detected using imaging devices, allowing healthcare professionals to visualize and assess the functioning of organs and tissues within the human body.

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Radiopharmaceuticals Market Scope

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Growth Factors: The growth of the Radiopharmaceuticals Market is driven by several key factors. First and foremost, the increasing prevalence of chronic diseases, such as cancer and cardiovascular disorders, has propelled the demand for advanced diagnostic and therapeutic techniques. Radiopharmaceuticals, with their ability to provide precise and early detection of diseases, are becoming integral to personalized medicine. Additionally, advancements in technology, such as the development of novel radiotracers and imaging modalities, are contributing to the expansion of the market. The growing awareness among healthcare professionals and patients about the benefits of nuclear medicine further fuels the demand for radiopharmaceuticals.

Furthermore, the rising investments in research and development activities, coupled with collaborations between pharmaceutical companies and research institutions, are fostering innovation in the Radiopharmaceuticals Market. The integration of artificial intelligence and molecular imaging techniques is also enhancing the efficiency and accuracy of radiopharmaceutical applications. As regulatory bodies streamline approval processes, there is an increasing influx of new radiopharmaceuticals into the market, catering to a broader spectrum of medical conditions.

Region Snapshot:

The Radiopharmaceuticals Market exhibits a global presence, with North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa being key regions of interest. North America, particularly the United States and Canada, holds a significant market share owing to the well-established healthcare infrastructure, increasing investments in research, and the presence of major market players. Europe follows suit, with countries like Germany, the UK, and France driving market growth through technological advancements and a growing aging population.

The Asia-Pacific region is emerging as a key player in the Radiopharmaceuticals Market, driven by factors such as a rising incidence of chronic diseases, improving healthcare infrastructure, and increasing awareness about nuclear medicine applications. Latin America and the Middle East and Africa are witnessing steady growth, supported by healthcare infrastructure development initiatives and a growing focus on improving medical diagnostics and treatment capabilities in these regions.

Reasons to Purchase this Report:

• Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
• In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
• Market size in USD million and volume in million units provided for each segment and sub-segment.
• Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
• Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Radiopharmaceuticals Market Players

• Bayer AG
• Iso-Tex Diagnostics, Inc
• Jubilant Pharmova Limited
• Novartis AG
• General Electric Company
• Lantheus Holdings, Inc.
• Eli Lilly and Company
• Siemens AG
• Curium Pharma
• Cardinal Health Inc.

Market Segmentations

By Radioisotope

• Iodine I
• Gallium 68
• Technetium 99m
• Fluorine 18
• Others

By Application

• Cancer
• Cardiology
• Others

By Type

• Diagnostic
• Therapeutic

By End User

• Hospitals and clinics
• Medical Imaging centers
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Radiopharmaceuticals Market 

5.1. COVID-19 Landscape: Radiopharmaceuticals Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Radiopharmaceuticals Market, By Radioisotope

8.1. Radiopharmaceuticals Market, by Radioisotope, 2023-2032

8.1.1. Iodine I

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Gallium 68

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Technetium 99m

8.1.3.1. Market Revenue and Forecast (2020-2032)

8.1.4. Fluorine 18

8.1.4.1. Market Revenue and Forecast (2020-2032)

8.1.5. Others

8.1.5.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Radiopharmaceuticals Market, By Application

9.1. Radiopharmaceuticals Market, by Application, 2023-2032

9.1.1. Cancer

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Cardiology

9.1.2.1. Market Revenue and Forecast (2020-2032)

9.1.3. Others

9.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Radiopharmaceuticals Market, By Type 

10.1. Radiopharmaceuticals Market, by Type, 2023-2032

10.1.1. Diagnostic

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. Therapeutic

10.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Radiopharmaceuticals Market, By End User 

11.1. Radiopharmaceuticals Market, by End User, 2023-2032

11.1.1. Hospitals and clinics

11.1.1.1. Market Revenue and Forecast (2020-2032)

11.1.2. Medical Imaging centers

11.1.2.1. Market Revenue and Forecast (2020-2032)

11.1.3. Others

11.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 12. Global Radiopharmaceuticals Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.1.2. Market Revenue and Forecast, by Application (2020-2032)

12.1.3. Market Revenue and Forecast, by Type (2020-2032)

12.1.4. Market Revenue and Forecast, by End User (2020-2032)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.1.5.2. Market Revenue and Forecast, by Application (2020-2032)

12.1.5.3. Market Revenue and Forecast, by Type (2020-2032)

12.1.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.1.6.2. Market Revenue and Forecast, by Application (2020-2032)

12.1.6.3. Market Revenue and Forecast, by Type (2020-2032)

12.1.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.2.2. Market Revenue and Forecast, by Application (2020-2032)

12.2.3. Market Revenue and Forecast, by Type (2020-2032)

12.2.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.2.5.2. Market Revenue and Forecast, by Application (2020-2032)

12.2.5.3. Market Revenue and Forecast, by Type (2020-2032)

12.2.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.2.6.2. Market Revenue and Forecast, by Application (2020-2032)

12.2.6.3. Market Revenue and Forecast, by Type (2020-2032)

12.2.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.2.7.2. Market Revenue and Forecast, by Application (2020-2032)

12.2.7.3. Market Revenue and Forecast, by Type (2020-2032)

12.2.7.4. Market Revenue and Forecast, by End User (2020-2032)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.2.8.2. Market Revenue and Forecast, by Application (2020-2032)

12.2.8.3. Market Revenue and Forecast, by Type (2020-2032)

12.2.8.4. Market Revenue and Forecast, by End User (2020-2032)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.3.2. Market Revenue and Forecast, by Application (2020-2032)

12.3.3. Market Revenue and Forecast, by Type (2020-2032)

12.3.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.3.5.2. Market Revenue and Forecast, by Application (2020-2032)

12.3.5.3. Market Revenue and Forecast, by Type (2020-2032)

12.3.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.3.6.2. Market Revenue and Forecast, by Application (2020-2032)

12.3.6.3. Market Revenue and Forecast, by Type (2020-2032)

12.3.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.3.7.2. Market Revenue and Forecast, by Application (2020-2032)

12.3.7.3. Market Revenue and Forecast, by Type (2020-2032)

12.3.7.4. Market Revenue and Forecast, by End User (2020-2032)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.3.8.2. Market Revenue and Forecast, by Application (2020-2032)

12.3.8.3. Market Revenue and Forecast, by Type (2020-2032)

12.3.8.4. Market Revenue and Forecast, by End User (2020-2032)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.4.2. Market Revenue and Forecast, by Application (2020-2032)

12.4.3. Market Revenue and Forecast, by Type (2020-2032)

12.4.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.4.5.2. Market Revenue and Forecast, by Application (2020-2032)

12.4.5.3. Market Revenue and Forecast, by Type (2020-2032)

12.4.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.4.6.2. Market Revenue and Forecast, by Application (2020-2032)

12.4.6.3. Market Revenue and Forecast, by Type (2020-2032)

12.4.6.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.4.7.2. Market Revenue and Forecast, by Application (2020-2032)

12.4.7.3. Market Revenue and Forecast, by Type (2020-2032)

12.4.7.4. Market Revenue and Forecast, by End User (2020-2032)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.4.8.2. Market Revenue and Forecast, by Application (2020-2032)

12.4.8.3. Market Revenue and Forecast, by Type (2020-2032)

12.4.8.4. Market Revenue and Forecast, by End User (2020-2032)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.5.2. Market Revenue and Forecast, by Application (2020-2032)

12.5.3. Market Revenue and Forecast, by Type (2020-2032)

12.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.5.5.2. Market Revenue and Forecast, by Application (2020-2032)

12.5.5.3. Market Revenue and Forecast, by Type (2020-2032)

12.5.5.4. Market Revenue and Forecast, by End User (2020-2032)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Radioisotope (2020-2032)

12.5.6.2. Market Revenue and Forecast, by Application (2020-2032)

12.5.6.3. Market Revenue and Forecast, by Type (2020-2032)

12.5.6.4. Market Revenue and Forecast, by End User (2020-2032)

Chapter 13. Company Profiles

13.1. Bayer AG

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Iso-Tex Diagnostics, Inc

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Jubilant Pharmova Limited

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Novartis AG

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. General Electric Company

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Lantheus Holdings, Inc

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Eli Lilly and Company

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Siemens AG

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Curium Pharma

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Cardinal Health Inc.

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

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