Oncology radiopharmaceuticals market

Oncology Radiopharmaceuticals Market, 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, and Others), by Route of Administration (Oral and Intravenous), by Application (Diagnosis and Treatment), by End User (Diagnostic Centres, Hospitals and Clinics, and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

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Dec 2021
CMI4834
202 Pages
Excel & Pdf
Pharmaceutical

Summary

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

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.

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

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.

Table of Content

*Browse 39 market data tables and 22 figures on "Oncology Radiopharmaceutical Market” - Global Forecast to 2028.

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- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global oncology radiopharmaceuticals market during the forecast period (2021-2028)?

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.

What are the major factors driving the market growth?

Increasing awareness regarding the radioactive compounds and their use in oncology are projected to boost the market growth over the forecast period.

Which is the leading type segment in the market?

Diagnosis segment is hold a major market share in the market.

What are the key factors hampering growth of the market?

The major factor hampering growth of the market include lack of trained workforce.

Which are the major players operating in the market?

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.