Radiopharmaceuticals Market – Insights

Radiopharmaceuticals can be defined as drugs that contain radioactive molecule called radioisotopes. Radiopharmaceutical drugs are administered either orally, injected into the vein or are placed into the body cavity such as eye or bladder.

Statistics:

The global radiopharmaceuticals market is estimated to account for US$ 8,659.8 Mn in terms of value by the end of 2027.

Global Radiopharmaceuticals Market: Drivers

Increasing incidence of cancer is expected to propel growth of the global radiopharmaceuticals market over the forecast period.  Radiopharmaceuticals are designed to eliminate tumor cells by releasing radioactive agents. According to the World Health Organization, around 18.1 million new cases and 9.6 million deaths were registered due to cancer worldwide in 2018.

Moreover, increasing incidence of cardiovascular diseases is also expected to aid in growth of the market. Radiopharmaceuticals enhance the diagnostic utility of nuclear medicine in cardiac diseases such as coronary artery disease and cardiomyopathy (diseases of the heart muscle). According to ‘Heart disease and stroke statistics—2019 update’, a report from the American Heart Association, published in 2019, CAD accounted for 365,914 deaths in the U.S. in 2017.

North America region held dominant position in the global radiopharmaceuticals market in 2019, accounting for 59.9% share in terms of volume, followed by Europe.

Figure 1. Global Radiopharmaceuticals Market Share (US$ Mn), by Region, 2019

Radiopharmaceuticals  | Coherent Market Insights

Global Radiopharmaceuticals Market: Restraints

Shorter half-life of radiopharmaceuticals is expected to hinder growth of the global radiopharmaceuticals market. Radioactive isotope possess its own disintegration pattern, which depends on energy, matter, and rate of characteristic. Shorter half-life elevates higher radiation within short span, which is a major disadvantage for transportation of radioisotopes.

Moreover, high investment and long duration involved in development of radiopharmaceuticals is also expected to hamper growth of the market. For instance, the cost of developing an imaging agent are US$ 100–US$ 200 million over 8–10 years.

Global Radiopharmaceuticals Market: Opportunities 

Development of new radiopharmaceuticals that target specific biomarkers is expected to offer lucrative growth opportunities for players in the market. Such development can lead to early diagnosis and prognostic prediction in oncology neurology, and cardiology.

Moreover, development of radiopharmaceuticals with longer half-life and low price tag is also expected to aid in growth of the market.

Radiopharmaceuticals  | Coherent Market Insights

Technetium-99 segment in the global radiopharmaceuticals market was valued at US$ 2,883.0 Mn in 2019 and is expected to reach US$ 4,353.4 Mn by 2027 at a CAGR of 5.3%% during the forecast period.

Market Trends/Key Takeaways

The adoption of radiopharmaceuticals for the diagnosis and treatment of neurological disorders is a recent trend in the market. New tracers of amyloid plaques are used in PET imaging for neurodegenerative diseases. Moreover, the adoption of molecular radiopharmaceutical-based neuroimaging has increased as it offers several new diagnostic methods to assess and define neurodegenerative diseases during life.

Major players in the market are focused on receiving approvals from regulatory bodies for commercialization of their products. For instance, in January 2020, The Center for Probe Development and Commercialization (CPDC), a developer of radiopharmaceuticals, received clearance for its site in Hamilton, Ontario, to ship products to the U.S., from the U.S. Food and Drug Administration (FDA).

Value Chain Analysis

Radiopharmaceuticals  | Coherent Market Insights

Global Radiopharmaceuticals Market: Competitive Landscape

Major players operating in the radiopharmaceuticals market include, Siemens Healthineers (Siemens AG), Positron Corporation, Advanced Accelerator Applications, GE Healthcare (General Electric Co.), Mallinckrodt plc., Lantheus Holdings, Inc., Nordion, Inc., Bayer AG, Eckert & Ziegler, and IBA Radiopharma Solutions.

Global Radiopharmaceuticals Market: Key Developments

Major players in the market are focused on adopting partnership and collaboration strategies to expand their product portfolio. For instance, in December 2019, Fuzionaire Radioisotope Technologies K.K. collaborated with Osaka University Graduate School of Medicine to accelerate the discovery of novel anti-cancer radiotherapeutic agents.

In December 2019, Zionexa, a radiopharmaceutical company, entered into an exclusive manufacturing and distribution agreement with PETNET Solutions Inc., a Siemens Healthineers company, for Zionexa’s new PET diagnostic drug, Fluoroestradiol (FES), which is pending approval by the Food and Drug Administration (FDA).

Radiopharmaceuticals are defined as drugs which constitutes of radioactive molecule called radioisotopes. Radiopharmaceuticals are bounded to biological molecules which are able to target specific cells present within the human body. These radiopharmaceutical drugs are administered orally, intravenously or through body cavity such as eye or bladder. Radiopharmaceutical drugs are used for radioactive tracers in medical imaging and in therapy. Increasing incidence of cancer is expected to propel growth of the global radiopharmaceuticals market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the Radiopharmaceuticals market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global Radiopharmaceuticals market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Siemens Healthineers (Siemens AG), Positron Corporation, Advanced Accelerator Applications, GE Healthcare (General Electric Co.), Mallinckrodt plc. , Lantheus Holdings, Inc., Nordion, Inc., Bayer AG, Eckert & Ziegler, and IBA Radiopharma Solutions.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global Radiopharmaceuticals market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Radiopharmaceuticals market

Detailed Segmentation:

  • Radiopharmaceuticals Market, By Radioisotope:
    • Technetium-99
    • Gallium-67
    • Iodine-123
    • Iodine-125
    • 18F
    • Rubidium-82
    • Yttrium-90
    • Lutetium-177
    • Others
  • Radiopharmaceuticals Market, By Application:
    • Cardiology
    • Gastroenterology
    • Oncology
      • Brachytherapy
      • Others
    • Nephrology
    • Neurology
    • Immunology
    • Others
  • Radiopharmaceuticals Market, By End User:
    • Hospitals
    • Ambulatory Surgical Centers
    • Diagnostic Centers
    • Cancer Research Institutes
    • Others
  • Radiopharmaceuticals Market, By Region:
    • North America
      • By Radioisotope:
        • Technetium-99
        • Gallium-67
        • Iodine-123
        • Iodine-125
        • 18F
        • Rubidium-82
        • Yttrium-90
        • Lutetium-177
        • Others
      • By Application
        • Cardiology
        • Gastroenterology
        • Oncology
          • Brachytherapy
          • Others
        • Nephrology
        • Neurology
        • Immunology
        • Others
      • By End User
        • Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
        • Cancer Research Institutes
        • Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Radioisotope:
        • Technetium-99
        • Gallium-67
        • Iodine-123
        • Iodine-125
        • 18F
        • Rubidium-82
        • Yttrium-90
        • Lutetium-177
        • Others
      • By Application
        • Cardiology
        • Gastroenterology
        • Oncology
          • Brachytherapy
          • Others
        • Nephrology
        • Neurology
        • Immunology
        • Others
      • By End User
        • Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
        • Cancer Research Institutes
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Radioisotope:
        • Technetium-99
        • Gallium-67
        • Iodine-123
        • Iodine-125
        • 18F
        • Rubidium-82
        • Yttrium-90
        • Lutetium-177
        • Others
      • By Application
        • Cardiology
        • Gastroenterology
        • Oncology
          • Brachytherapy
          • Others
        • Nephrology
        • Neurology
        • Immunology
        • Others
      • By End User
        • Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
        • Cancer Research Institutes
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Radioisotope:
        • Technetium-99
        • Gallium-67
        • Iodine-123
        • Iodine-125
        • 18F
        • Rubidium-82
        • Yttrium-90
        • Lutetium-177
        • Others
      • By Application
        • Cardiology
        • Gastroenterology
        • Oncology
          • Brachytherapy
          • Others
        • Nephrology
        • Neurology
        • Immunology
        • Others
      • By End User
        • Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
        • Cancer Research Institutes
        • Others
      • By End User
        • Hospital
        • Ambulatory Surgical Centers
        • Clinics
        • Home Use
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Radioisotope:
        • Technetium-99
        • Gallium-67
        • Iodine-123
        • Iodine-125
        • 18F
        • Rubidium-82
        • Yttrium-90
        • Lutetium-177
        • Others
      • By Application
        • Cardiology
        • Gastroenterology
        • Oncology
          • Brachytherapy
          • Others
        • Nephrology
        • Neurology
        • Immunology
        • Others
      • By End User
        • Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
        • Cancer Research Institutes
        • Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Radioisotope:
        • Technetium-99
        • Gallium-67
        • Iodine-123
        • Iodine-125
        • 18F
        • Rubidium-82
        • Yttrium-90
        • Lutetium-177
        • Others
      • By Application
        • Cardiology
        • Gastroenterology
        • Oncology
          • Brachytherapy
          • Others
        • Nephrology
        • Neurology
        • Immunology
        • Others
      • By End User
        • Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
        • Cancer Research Institutes
        • Others
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Siemens Healthineers (Siemens AG) *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Positron Corporation
    • Advanced Accelerator Applications
    • GE Healthcare (General Electric Co.)
    • Mallinckrodt plc.
    • Lantheus Holdings, Inc.
    • Nordion, Inc.
    • Bayer AG
    • Eckert & Ziegler
    • IBA Radiopharma Solutions

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

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Radioisotope
      • Market Snippets, By Application
      • Market Snippets, By End User
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Radiopharmaceuticals Market, By Radioisotope, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Technetium-99
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Gallium-67
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Iodine-123
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Iodine-125
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • 18F
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Rubidium-82
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Yttrium-90
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Lutetium-177
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Radiopharmaceuticals Market, By Application, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Cardiology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Gastroenterology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Oncology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Brachytherapy
        • Others
    • Nephrology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Neurology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Immunology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Radiopharmaceuticals Market, By End User, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cancer Research Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global Radiopharmaceuticals Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Radioisotope, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Radioisotope, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Radioisotope, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Radioisotope, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of APAC
    • Middle East
      • Market Size and Forecast, By Radioisotope, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Radioisotope, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  8. Competitive Landscape
    • Company Profiles
      • Siemens Healthineers (Siemens AG)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Positron Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Advanced Accelerator Applications
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GE Healthcare (General Electric Co.)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Mallinckrodt plc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Lantheus Holdings, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Nordion, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Bayer AG
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Eckert & Ziegler
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • IBA Radiopharma Solutions
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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