Radiopharmaceuticals in Nuclear Medicine Market to Surpass US$ 10.6 Billion Threshold by 2026 - Coherent Market Insights

Published On : May 10, 2019

The global radiopharmaceuticals in nuclear medicine market by Product Type (Diagnostic Nuclear Medicine (SPECT Radiopharmaceuticals and PET Radiopharmaceuticals) and Therapeutic Nuclear Medicine), By Application (Oncology, Cardiology, Neurology, Endocrinology, and Others), By End User (Hospitals, Specialty Clinics, and Diagnostic Centers), and By Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 4,986.4 million in 2017 and is projected to exhibit a CAGR of 8.9% over the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. The global radiopharmaceuticals in nuclear medicine market is expected to witness significant growth over the forecast period, due to factors such as collaborations and partnerships, mergers and acquisitions, and product launches. Furthermore, factors such as wide number of applications of radiopharmaceuticals, abundance of radiopharmaceuticals, and production of radiopharmaceuticals from cyclotrons presence is expected to fuel growth of the global radiopharmaceuticals in nuclear medicine market.

In March 2019, NorthStar Medical Radioisotopes, LLC signed a contract with Ion Beam Applications S.A. (IBA) to purchase eight Rhodotron TT300 HE electron beam accelerators to expand the U.S. production of non-uranium based radioisotope Mo-99. In January 2019, Progenics Pharmaceuticals, Inc. and Curium Pharma entered into an agreement to develop and commercialize PyL in Europe. PyL is Progenics’ PSMA-targeted small molecule PET/CT imaging agent, designed to visualize prostate cancer currently in Phase 3 development. Moreover, in 2018, Advanced Accelerator Applications S.A. entered into an exclusive worldwide license agreement with Cancer Targeted Technology, LLC (CTT) to develop and market an investigational new drug product, F-18-labeled CTT1057. Such collaborations and partnerships are expected to support the global radiopharmaceuticals in nuclear medicine market growth over the forecast period.

Browse 50 Market Data Tables and 53 Figures spread through 279 Pages and in-depth TOC on Global Radiopharmaceuticals in Nuclear Medicine Market by Product Type (Diagnostic Nuclear Medicine (SPECT Radiopharmaceuticals, and PET Radiopharmaceuticals) and Therapeutic Nuclear Medicine), By Application (Oncology, Cardiology, Neurology, Endocrinology, and Others), By End User (Hospitals, Specialty Clinics, and Diagnostic Centers) and By Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2026

To know the latest trends and insights prevalent in the Global Radiopharmaceuticals in Nuclear Medicine Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/radiopharmaceuticals-market-70

In February 2019, Progenics Pharmaceuticals, Inc. acquired the manufacturing facility in Somerset, New Jersey for AZEDRA. This Somerset site serves as a launch facility for AZEDRA and will also provide manufacturing support for the company’s development stage radiopharmaceuticals. In August 2018, Alliance Medical Group (a Division of Life Healthcare Group) acquired Piramal Imaging and renamed it as Life Molecular Imaging (LMI). LMI is now part of the Alliance Medical Molecular Imaging division, an integrated business including research and development laboratories, a network of cyclotrons, radio pharmacies, and imaging facilities. Moreover, in May 2018, Curium enhanced its position in the France PET market with the acquisition of France-based commercial and manufacturing operations of Cyclopharma, developer and manufacturer of PET diagnostics.

Key Takeaways of the Global Radiopharmaceuticals in Nuclear Medicine Market:

  • The global radiopharmaceuticals in nuclear medicine market is expected to exhibit a CAGR of 9% over the forecast period (2018–2026), owing to rising prevalence of diseases and rising need for early diagnosis for the same. For instance, according to National Cancer Institute, 2016, an estimated 16.8 million new cases of cancer were diagnosed in the U.S. with around 595,690 deaths from the disease. The number of people with cancer is expected to increase up to 19 million by 2024.
  • Manufacturers are focusing on research and development of radiopharmaceuticals, which is expected to aid in market growth over the forecast period
  • Therapeutic nuclear medicines segment is expected to witness significant growth over the forecast period, owing to launch of potential blockbuster products in the segment
  • Asia Pacific market is expected to witness significant growth, owing to increasing demand for radiopharmaceuticals in the region
  • Major players operating in the global radiopharmaceuticals in nuclear medicine market include Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Curium Pharma, Life Molecular Imaging, Lantheus Holdings, Inc., Cardinal Health, Inc., General Electric Company, Bracco S.p.A., Bayer AG, Advanced Accelerator Applications, S.A., and Eli Lilly and Company

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