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Radiopharmaceuticals Market Trends, Size, Growth & Forecast 2028

(CityRegions.Com, August 21, 2021 )

Market Overview

Radiopharmaceuticals also known as Nuclear medicines are a group of pharmaceutical drugs which have radioactivity and can be used as diagnostic and therapeutic agents.

Radiopharmaceuticals emit radiation themselves, which is different from fluids within the body which absorb or alter external electromagnetism or ultrasound. This phenomenon helps to identify the various abnormalities such as cancer cells, within the human body.

Market Drivers and Restraints

Global radiopharmaceuticals market is growing at a steady pace and anticipated to exhibit similar faster growth in the future.

The market growth is attributed to driving factors such as improvements in diagnostic facilities, an increase in the number of new cancer cases, and an increase in preference for radiation therapy for cancer treatment.

Moreover, developments in imaging technologies using radiopharmaceuticals and alpha radioimmunotherapy-based targeted cancer treatment are also key factors fueling the growth of the market.

The global radiopharmaceuticals market might experience a hindrance in the growth owing to the short half-life of radiopharmaceuticals, supply-demand gap of the pharmaceuticals, and high equipment prices of diagnostic imaging devices.

Market Segmentation

By Radioisotopes

• Tec.99

• F18

• Iodine 131

• Leutetium 177

• Yttrium 90

• Gallium 68

• Gallium 67

• Rubidium 82

• Iodine 123

• Iodine 125

• Indium 111

• Others

By Application

• Oncology

• Cardiology

• Gastroenterology

• Neuroendocrinology

• Neurology

• Nephrology

• Others

By Source

• Cyclotrons

• Nuclear Reactor

By End User

• Hospitals

• Diagnostic Imaging Centers

• Ambulatory Surgical Centers

• Cancer Research Institute

Competitive Analysis

Several new players have entered into the global market for a radiopharmaceutical, and this trend denotes to the growing acceptance and popularity of dangerous drugs across the globe.

The market vendors that have earned a name for themselves in the global radiopharmaceuticals market have stuck to the basics of proper planning, marketing, and distribution of products. Established market vendors are recalibrating their business strategies to fit the needs and want of the consumers.

The distributors of dangerous drugs have also played a key role in reaching to wider audiences and expanding their consumer base. Product launch is one of the key strategy adopted by the principal manufacturers to improve their market presence across the globe.

For instance, In January 2018, Norgine B.V., a leading European specialty pharmaceutical company has announced the launch of LYMPHOSEEK® (Tc 99m tilmanocept) in Finland and Sweden. LYMPHOSEEK is a radiopharmaceutical used for diagnostic purposes by nuclear medicine specialists and surgeons.

Related Reports:

Biopharmaceuticals Market, Active Pharmaceutical Ingredients Market, Biopharmaceuticals Market, Pharmaceutical Intermediates Market, Pharmaceutical Vials Market

DataM Intelligence

Sai Kiran

+1 877 441 4866

Source: EmailWire.Com


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