Nuclear medicine/ radiopharmaceuticals are agents used to diagnose certain medical problems or treat certain diseases condition. Increasing awareness of radiopharmaceuticals, growing number of pharmaceutical companies and rising research institutes are major factors that assisting the growth of nuclear medicine/ radiopharmaceuticals market globally.

The report titled “Nuclear medicine/ radiopharmaceuticals Market - Growth, Future Prospects and Competitive Analysis, 2017–2025” offers strategic insights into the overall radiopharmaceuticals market along with the market size and estimates for the duration 2015 to 2025. The research study covers in-depth analysis of market segments based on type (diagnostic and therapeutic radiopharmaceuticals), application (diagnostics, diagnostic applications) and different geographical regions.

Market size and forecast for these regional and country level markets are presented in this study for the period 2015-2025. Market growth rates for the forecast period 2017-2025 are also included in this report, considering 2016 as the base year.

Along with quantitative information, qualitative information sets and assessment tools are provided in this study for better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges and opportunities assists the readers for understanding the ongoing trends in the global nuclear medicine/ radiopharmaceuticals market. Tools such as market positioning of key players and attractive investment proposition provide the readers with insights on the competitive scenario of the global nuclear medicine/ radiopharmaceuticals market. This report concludes with company profiles section that highlights major information about the key players engaged in global nuclear medicine/ radiopharmaceuticals market. In-depth competitive environment analysis and historical years (2015) market size data are also provided in the report.      

Thus, the research study provides a holistic view of the global radiopharmaceuticals market, offering market size and estimates for the period from 2015 to 2025, keeping in mind the above-mentioned factors.

Radiopharmaceuticals are unique medicinal formulations containing radioactive substances or radioactive drugs which are used for diagnosis and therapeutic interventions. It is observed that, in the base year 2016, diagnostic radiopharmaceutical is major revenue generating segment, due to the rising incidence of cancer and cardiac disease , improved affordability, more precise technique and advancement in PET and SPECT scan are prime factors that driving the growth of radiopharmaceutical market. Due to the increased sensitivity, image quality, shorter scan times, and potential to do multiple scans PET radiopharmaceutical expected to show significant market growth during forecast period.

Based on application, the global nuclear medicine/ radiopharmaceuticals market is segmented as follows:

• Therapeutic
  • Thyroid
  • Oncology
  • Bone Metastasis
  • Other Applications
• Diagnostics
  • Cardiology
  • Thyroid
  • Oncology
  • Other Therapeutic Application

Radiopharmaceutical is a radioactive pharmaceutical agent that is used for diagnostic or therapeutic procedures, depending upon its physicochemical and radiation properties. Application of radiopharmaceuticals is categorized into two major areas, diagnostic and therapeutic. It is estimated that, therapeutic application will show fastest market growth during forecast period due to its advantages over the traditional drug therapies such as targeted therapeutic action and lower side effects. Radiopharmaceuticals application in cardiology and oncology is anticipated to grow significantly during forecast period due to its increasing applicability in diagnosis of the disease; furthermore growing prevalence of different forms of cancer and cardiovascular disease will fuel the market growth. However, stringent regulatory guidelines regarding manufacturing of radiopharmaceuticals may negatively impacting the market growth of radiopharmaceuticals.

It is observed that in the base year 2016, North America was largest revenue contributor in global nuclear medicine/ radiopharmaceuticals market; the market growth is mainly driven by United States. Technological advancement, higher investment in R&D activities, presence of key manufacturer and presence of large number of research institutes are major factors that are driving the radiopharmaceuticals market in North America. However, Asia Pacific is expected to show lucrative growth during forecast period due to increasing partnership of key players with local manufacturer, growing incidence and mortality of severe diseases, growing number of geriatric population, and rapidly expanding pharmaceutical industries in this region. Emerging Asian countries such as China and India are expected to exhibit highest market growth due developing economic condition and growing partnership of key players with local manufacturers.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Nuclear Medicine/ Radiopharmaceuticals market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Nuclear Medicine/ Radiopharmaceuticals market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Nuclear Medicine/ Radiopharmaceuticals market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Nuclear Medicine/ Radiopharmaceuticals market?
• Which is the largest regional market for Nuclear Medicine/ Radiopharmaceuticals market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Nuclear Medicine/ Radiopharmaceuticals market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Nuclear Medicine/ Radiopharmaceuticals market worldwide?