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Global Radiopharmaceuticals Market Size, Share, Trends, Value, Growth, Forecast: By Product Type: Diagnostic Nuclear Medicine, PET Radiopharmaceuticals, Therapeutic Nuclear Medicine, Brachytherapy Isotopes, Beta Emitters; By Applications; By Volume Assessment; By Source; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Global Radiopharmaceuticals Market Outlook
The global radiopharmaceuticals market value was USD 5.38 billion in 2023, driven by the increasing prevalence of chronic diseases across the globe. The market value is anticipated to grow at a CAGR of 7.5% during the forecast period of 2024-2032 to achieve a value of USD 10.31 billion by 2032.
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North America Market to Continue Dominating the Overall Market Over the Forecast Period
Owing to the presence of prominent pharmaceutical key players and well-funded research facilities, the North America region is estimated to maintain its dominance over the market share for radiopharmaceuticals. Meanwhile, the steady growth of the industry in leading Asia Pacific countries make a worthwhile contribution to the rising regional industry, which is projected to witness the fastest growth in the coming years. The SPECT segment, among the diagnostic radiopharmaceuticals, is extensively utilised in the maintenance of thyroid-related medical issues. Attributing to the commonality of these issues, the thyroid applications of radiopharmaceuticals is likely to witness robust growth during the forecast period. Moreover, under the therapeutic segment, oncology applications are estimated to grow in the coming years owing to a continual rise in the number of cancer cases. Although, due to the higher presence of alternatives in the therapeutic segment, the diagnostic pharmaceuticals are projected to achieve higher growth.
Radiopharmaceuticals: Market Segmentation
A radiopharmaceutical, also known as a medicinal radio compound, is a pharmaceutical drug containing radioisotopes that can be used as a diagnosis medication, as well as a therapeutic agent. Radiopharmaceuticals can be used for both chronic and critical diseases and are widely used in molecular imaging as biomarkers.
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By generators type, the market is segmented into:
- W-188/Re-188 Generators
- Mo-99/Tc-99m Generators
- Sr-82/Rb-82 Generators
- Sr-90/Y-90 Generators
- Ge-68/Ga-67,68 Generators
Based on application, the industry can be divided into:
- Diagnostic Radiopharmaceuticals
- SPECT (Single-Photon Emission Computed Tomography)
- PET (Positron Emission Tomography)
- Therapeutic Radiopharmaceuticals
- Oncology
- Cardiology and Neurology
- Theranostics
The end uses for radiopharmaceuticals include:
- Hospitals
- Diagnostic Centres
The EMR report looks into the regional markets of radiopharmaceuticals like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Higher Prevalence of Chronic Diseases Likely to Bolster the Market Growth for Radiopharmaceuticals
The radiopharmaceuticals sector is the fastest-growing segment in the pharmaceutical industry. The global market of radiopharmaceuticals is primarily propelled by the worldwide need for timely diagnostics and treatment of fatal diseases. Unhealthy lifestyles of people all over the world has resulted in a higher prevalence of chronic diseases in recent years, and subsequently, the revolutionary utilisation of radiopharmaceuticals in diagnostics is gaining popularity in the healthcare sector.
Moreover, rising acceptance of disease specific therapy, enhanced patient awareness regarding accurate and timely diagnosis, and expanding applications of molecular imaging are some other factors providing a boost to the market growth for radiopharmaceuticals. Meanwhile, various factors including supply volatility and competition from conventional diagnostic procedures, are likely to impede the market growth. Nevertheless, constant growth in the research and development sector, and high capital investment are estimated to counter any such hurdles.
Key Industry Players in the Global Radiopharmaceuticals Market
The report presents a detailed analysis of the following key players in the global radiopharmaceuticals market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Jubilant Pharma Holdings Inc.
- Clarity Pharmaceutical
- Cardinal Health
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Applications |
|
| Breakup by Volume Assessment |
|
| Breakup by Source |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Radiopharmaceuticals Market Overview
3.1 Global Radiopharmaceuticals Market Historical Value (2017-2023)
3.2 Global Radiopharmaceuticals Market Forecast Value (2024-2032)
4 Global Radiopharmaceuticals Market Landscape
4.1 Global Radiopharmaceuticals Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Radiopharmaceuticals Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by End User
4.2.3 Analysis by Applications
5 Global Radiopharmaceuticals Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Radiopharmaceuticals Market Segmentation
6.1 Global Radiopharmaceuticals Market, by Product Type
6.1.1 Market Overview
6.1.1.1 Diagnostic Nuclear Medicine
6.1.1.1.1 SPECT Radiopharmaceuticals
6.1.1.1.2 Technetium-99m
6.1.1.1.3 Thallium-201
6.1.1.1.4 Gallium-67
6.1.1.1.5 Iodine-123
6.1.1.1.6 Other
6.1.1.2 PET Radiopharmaceuticals
6.1.1.2.1 F-18
6.1.1.2.2 RU-82
6.1.1.2.3 Others
6.1.1.3 Therapeutic Nuclear Medicine
6.1.1.3.1 Alpha Emitters
6.1.1.3.2 Ra-223
6.1.1.4 Brachytherapy Isotopes
6.1.1.4.1 Intoiodine-125
6.1.1.4.2 Palladium-103
6.1.1.4.3 Cesium-131
6.1.1.4.4 Iridium-192
6.1.1.4.5 Other brachytherapy isotopes
6.1.1.5 Beta Emitters
6.1.1.5.1 Intoiodine-131
6.1.1.5.2 Yttrium-90
6.1.1.5.3 Samarium-153
6.1.1.5.4 Lutetium-177
6.1.1.5.5 Rhenium-186
6.1.1.5.6 Other beta emitters
6.2 Global Radiopharmaceuticals Market, by Applications
6.2.1 Market Overview
6.2.2 Diagnostic Applications
6.2.3 SPECT Applications
6.2.3.1 Cardiology
6.2.3.2 Bone Scans
6.2.3.3 Thyroid Applications
6.2.3.4 Pulmonary Scans
6.2.3.5 Other SPECT Applications
6.2.4 PET applications
6.2.4.1 Oncology
6.2.4.2 Cardiology
6.2.4.3 Neurology
6.2.4.4 Other PET applications
6.2.5 Therapeutic Applications
6.2.5.1 Thyroid Indications
6.2.5.2 Bone Metastasis
6.2.5.3 Lymphoma
6.2.5.4 Endocrine Tumors
6.2.5.5 Other Indications
6.3 Global Radiopharmaceuticals Market, by Volume Assessment
6.3.1 Market Overview
6.3.2 Diagnostic Procedures
6.3.3 Therapeutic Procedures
6.4 Global Radiopharmaceuticals Market, by Source
6.4.1 Market Overview
6.4.2 Nuclear Rectors
6.4.3 Cyclotrons
6.5 Global Radiopharmaceuticals Market, by End User
6.5.1 Market Overview
6.5.2 Hospitals
6.5.3 Ambulatory Surgical Centres
6.5.4 Diagnostic Centres
6.5.5 Cancer Research Institutes
6.5.6 Others
6.6 Global Radiopharmaceuticals Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Radiopharmaceuticals Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Radiopharmaceuticals Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Radiopharmaceuticals Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Radiopharmaceuticals Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Radiopharmaceuticals Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Cardinal Health
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 GE Healthcare
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Lantheus Medical Imaging
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Bayer AG
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Bracco Imaging
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Nordion
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 NTP Radioisotopes
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 NorthStar Medical Radioisotopes
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Eckert & Ziegler
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Braun Melsungen AG
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Smith Nephew
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Zimmer Biomet
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Hanger Inc.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Otto Bock Healthcare
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
18 Global Radiopharmaceuticals Market-Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Pricing Models and Strategies (Additional Insight)
21.1 Overview
21.2 Cost Model
21.2.1 Manufacturing Cost Analysis
21.2.2 Procurement Cost Analysis
21.2.3 Clinical Trial Cost Factors
21.3 Pricing Strategies
21.3.1 Competitor Pricing Analysis
21.3.2 Key Assessment of Product Attributes
21.3.3 Pricing Benchmark
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The radiopharmaceuticals Market was valued at USD 5.38 billion in 2023.
The market is expected to grow at a CAGR of 7.5% from 2024 to 2032 to reach a value of USD 10.31 billion by 2032.
The deployment of radiopharmaceuticals in SPECT diagnosis owing to the commonality of thyroid, and the oncology segment of therapeutics is driving the market growth.
The rising prevalence of radiopharmaceuticals to effectively diagnose and treat chronic diseases caused by unhealthy lifestyle is expected to propel the market growth of radiopharmaceuticals.
The major regional markets for radiopharmaceuticals are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The different types of generators used in the radiopharmaceutical industry are W-188/Re-188 generators, Mo-99/Tc-99m generators, Sr-82/Rb-82 generators, Sr-90/Y-90 generators, and Ge-68/Ga-67,68 generators.
The significant applications of radiopharmaceuticals are diagnostic radiopharmaceuticals, therapeutic radiopharmaceuticals, and theranostics.
The major end use sectors of the radiopharmaceutical industry are hospitals, and diagnostic centres.
The major players in the industry are Jubilant Pharma Holdings Inc., Clarity Pharmaceuticals, and Cardinal Health, among others.
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