all report title image
  • Published On : Dec 2021
  • Code : CMI4834
  • Industry : Pharmaceutical
  • Pages : 202
  • Formats :

Radiation and radioactive compounds play a crucial role in therapeutic and diagnostic approaches in oncology. From last few decades radiotherapy is used in cancer diagnostic and therapeutic applications.  Radiation therapy is a cancer treatment that uses high doses of radiation to kill cancer cells and shrink tumors.

The global oncology radiopharmaceuticals market is estimated to be valued at US$ 3,462.8 million in 2021 and is expected to exhibit a CAGR of 6.0% during the forecast period (2021-2028).

Figure 1. Global Oncology Radiopharmaceuticals Market in Terms of Value (US$ million), By Region, 2021

Oncology Radiopharmaceuticals  | Coherent Market Insights

Emerging use of radiopharmaceuticals as new cancer therapy is expected to drive the global oncology radiopharmaceuticals market growth during the forecast period.

Radiopharmaceuticals deliver radiation therapy directly and specifically to cancer cells. Radioactive iodine are being used to treat some types of thyroid cancer since the 1940s. In the area of oncology, the use of radiopharmaceuticals has increased particularly for imaging, diagnosis, staging, and follow up. Players are focusing on research and clinical trials testing for new radiopharmaceuticals to address the emerging use of radiopharmaceuticals is expected to augment the growth of market. For instance, in 2018, the U.S. Food and Drug Administration approved Lutathera (lutetium Lu 177 dotatate) a radioactive element for the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors. Lutathera was approved by the European Commission (EC) in September 2017.

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Oncology Radiopharmaceuticals Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 3,462.8 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 45.7% 2027 Value Projection: US$ 5,206.8 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Test Type: Radium-223 dichloride, Sodium iodide I-131, Lobenguane iodine-131, Lutetium-177, Yttrium-90, Fludeoxyglucose F 18, Gallium Citrate Ga 67, Technetium-99m, Others
  • By Route of Administration: Oral, Intravenous
  • By Application: Diagnosis, Treatment
  • By End User: Diagnostic Centers, Hospitals and Clinics, Research Institutes
Companies covered:

Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health

Growth Drivers:
  • Increasing demand for radiopharmaceuticals in cancer therapy
  • Shift towards combination therapies
Restraints & Challenges:
  • Lack of skilled professionals

Figure 2. Global Oncology Radiopharmaceuticals Market Share (%), By Application, 2021

Oncology Radiopharmaceuticals  | Coherent Market Insights

Shift towards combination therapies is expected to propel the global oncology radiopharmaceuticals market growth over the forecast period.

The use of radiopharmaceuticals in combination with other therapies to improve the treatment is likely fuel the growth of market.  A growing area of interest in radiopharmaceutical as a combination of a targeted therapeutic and diagnostic use is boost the growth of market. For instance, according to an article published in MEDPACE lutetium-177 and galium-68 are used together to diagnose and treat neuroendocrine tumors.

Global Oncology Radiopharmaceuticals Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 caused several challenges to cancer practices, especially to ensure continuity of treatment during this pandemic period. It has significantly affected healthcare systems and economies within a short timeframe. Radiation oncology departments are sensitive and dependent on diagnostic confirmation and therapeutic indication in cancer care. Moreover, the unprecedented demand for hospital services during the SARS-CoV-2 (COVID-19) pandemic has dramatically reduced the capability for dealing with non-acute health needs, including cancer care. Consecutively delay/decrease the number of cancer diagnostic cases is leads to hamper the market growth.

Global Oncology Radiopharmaceuticals Market: Restraints

Lack of trained professionals is one of the challenges that hamper the growth of the market. For instance, according to the National Cancer Institute, the number of nuclear medicine physicians who have training in both nuclear medicine and medical oncology is less in United States.

Key Players                   

Major players operating in the global oncology radiopharmaceuticals market include Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health.

Radiopharmaceuticals are medications that contain radioactive (isotopes), which are used for the treatment or diagnose of cancer. These medications can be administered into patient’s body orally, intravenously or interstitially (inserted into a cavity in the body). Radiopharmaceuticals are inserted into the body and when it reaches the targeted area of the body, it releases radioactive agents to destroy the tumor cells. Fludeoxyglucose F 18, Gallium Citrate Ga 67, Indium In 111 Pentetreotide, Methionine C 11, Radioiodinated Iobenguane, Sodium Fluoride F 18, Technetium Tc 99m Arcitumomab, Technetium Tc 99m Nofetumomab Merpentan are the oral radiopharmaceuticals used in the diagnosis of cancer

Radiopharmaceuticals can be used to treat following cancers:

  • Thyroid cancer
  • Brain cancer
  • Lymphoma
  • Cancers that have spread to the bones

Market Dynamics

Increasing number of drug approvals from regulatory bodies is expected to drive the growth of the global oncology radiopharmaceutical market during the forecast period. For instance, in May 2020, PETNET Solutions, Inc., a Siemens Healthineers company, and Zionexa USA, a wholly-owned subsidiary of Zionexa SAS, announced that the U.S. Food and Drug Administration (FDA) approved Cerianna (fluoroestradiol F 18) injection for intravenous use. Cerianna (fluoroestradiol F 18) is the first FDA-approved F-18 PET imaging agent specifically indicated for use in patients with recurrent or metastatic breast cancer.

Increasing number of inorganic growth strategies by market players is expected to drive the growth of global oncology radiopharmaceuticals market. For instance, in June 2021, Bayer AG a pharmaceuticals and life science company announced that the company signed an agreement to acquire Noria Therapeutics Inc. and PSMA Therapeutics Inc. Noria Therapeutics Inc is a radiotherapy company developing targeted therapeutic and imaging radiopharmaceuticals. This acquisition will provide rights to Bayer to differentiate alpha radionuclide therapy based on actinium-225 and a small molecule targeting prostate-specific membrane antigen (PSMA).

Key features of the study:

  • This report provides an in-depth analysis of the global oncology radiopharmaceutical market, provides market size (US$ Million), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new drug launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global oncology radiopharmaceutical market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
  • Key companies covered as a part of this study include Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
  • The global oncology radiopharmaceutical market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global oncology radiopharmaceutical market

Detailed Segmentation:

  • Global Oncology Radiopharmaceutical Market, By Type:
    • Radium-223 dichloride
    • Sodium iodide I-131
    • Lobenguane iodine-131
    • Lutetium-177
    • Yttrium-90
    • Fludeoxyglucose F 18
    • Gallium Citrate Ga 67
    • Technetium-99m
    • Others
  • Global Oncology Radiopharmaceutical Market, By Route of Administration:
    • Oral
    • Intravenous
  • Global Oncology Radiopharmaceutical Market, By Application:
    • Treatment
    • Diagnosis
  • Global Oncology Radiopharmaceutical Market, By End User:
    • Diagnostic Centers
    • Hospitals and Clinics
    • Cancer Research Institutes
  • Global Oncology Radiopharmaceutical Market, By Region:
    • North America
      • By Type:
        • Radium-223 dichloride
        • Sodium iodide I-131
        • Lobenguane iodine-131
        • Lutetium-177
        • Yttrium-90
        • Fludeoxyglucose F 18
        • Gallium Citrate Ga 67
        • Technetium-99m
        • Others
      • By Route of Administration:
        • Oral
        • Intravenous
      • By Application:
        • Treatment
        • Diagnosis
      • By End User:
        • Diagnostic Centers
        • Hospitals and Clinics
        • Cancer Research Institute
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Type:
        • Radium-223 dichloride
        • Sodium iodide I-131
        • Lobenguane iodine-131
        • Lutetium-177
        • Yttrium-90
        • Fludeoxyglucose F 18
        • Gallium Citrate Ga 67
        • Technetium-99m
        • Others
      • By Route of Administration:
        • Oral
        • Intravenous
      • By Application:
        • Treatment
        • Diagnosis
      • By End User:
        • Diagnostic Centers
        • Hospitals and Clinics
        • Cancer Research Institute
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Type:
        • Radium-223 dichloride
        • Sodium iodide I-131
        • Lobenguane iodine-131
        • Lutetium-177
        • Yttrium-90
        • Fludeoxyglucose F 18
        • Gallium Citrate Ga 67
        • Technetium-99m
        • Others
      • By Route of Administration:
        • Oral
        • Intravenous
      • By Application:
        • Treatment
        • Diagnosis
      • By End User:
        • Diagnostic Centers
        • Hospitals and Clinics
        • Cancer Research Institute
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type:
        • Radium-223 dichloride
        • Sodium iodide I-131
        • Lobenguane iodine-131
        • Lutetium-177
        • Yttrium-90
        • Fludeoxyglucose F 18
        • Gallium Citrate Ga 67
        • Technetium-99m
        • Others
      • By Route of Administration:
        • Oral
        • Intravenous
      • By Application:
        • Treatment
        • Diagnosis
      • By End User:
        • Diagnostic Centers
        • Hospitals and Clinics
        • Cancer Research Institute
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
    • Middle East
      • By Type:
        • Radium-223 dichloride
        • Sodium iodide I-131
        • Lobenguane iodine-131
        • Lutetium-177
        • Yttrium-90
        • Fludeoxyglucose F 18
        • Gallium Citrate Ga 67
        • Technetium-99m
        • Others
      • By Route of Administration:
        • Oral
        • Intravenous
      • By Application:
        • Treatment
        • Diagnosis
      • By End User:
        • Diagnostic Centers
        • Hospitals and Clinics
        • Cancer Research Institute
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Type:
        • Radium-223 dichloride
        • Sodium iodide I-131
        • Lobenguane iodine-131
        • Lutetium-177
        • Yttrium-90
        • Fludeoxyglucose F 18
        • Gallium Citrate Ga 67
        • Technetium-99m
        • Others
      • By Route of Administration:
        • Oral
        • Intravenous
      • By Application:
        • Treatment
        • Diagnosis
      • By End User:
        • Diagnostic Centers
        • Hospitals and Clinics
        • Cancer Research Institute
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Siemens Healthcare GmbH *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Novartis AG
    • Curium
    • GE Healthcare
    • Lantheus Medical Imaging, Inc.
    • International Isotopes, Inc.
    • Nordion
    • Eckert & Zieger
    • Acrotech Biopharma
    • Blue Earth Diagnostics
    • Zionexa
    • Bayer AG
    • Jubilant Pharma Limited
    • Cardinal Health

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global oncology radiopharmaceuticals market is estimated to be valued at US$ 3,462.8 million in 2021 and is expected to exhibit a CAGR of 6.0% between 2021 and 2028.
Increasing awareness regarding the radioactive compounds and their use in oncology are projected to boost the market growth over the forecast period.
Diagnosis segment is hold a major market share in the market.
The major factor hampering growth of the market include lack of trained workforce.
Major players operating in the market include Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health.

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