The Radiopharmaceuticals Market is being driven by Rising incidence of neurological disorders
The Radiopharmaceuticals Market is expected to grow at a CAGR of 12.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7020.5 million. The disruption in the nuclear reactor-supplied radiopharmaceuticals has instigated discussions regarding alternative production methods, specifically cyclotrons. These devices enable the production of on-site radiopharmaceuticals for hospitals, with approximately 80% of the generated isotopes suitable for medical applications. Cyclotrons offer significant advantages, including enhanced safety, reduced operating costs, and minimal waste generation. As a result, there is a substantial market potential for cyclotron-produced radioisotopes, such as copper-64, gallium-67, iodine-123, and thallium-201, in medical imaging. Factors like the increasing adoption of cyclotron-based radiopharmaceuticals are anticipated to propel the expansion of the global radiopharmaceuticals market throughout the forecast period.
Get more information on Radiopharmaceuticals Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
214 |
|
Base year |
2024 |
|
Historic period |
2019-2023 |
|
Forecast period |
2025-2029 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 12.3% |
|
Market growth 2025-2029 |
USD 7020.5 million |
|
Market structure |
market_structure.ucfirst |
|
YoY growth 2024-2025(%) |
10.7 |
|
Key countries |
US, Germany, UK, Canada, China, France, Brazil, Japan, India, and UAE |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Radiopharmaceuticals Market is experiencing significant growth due to the rising prevalence of chronic diseases, particularly in the geriatric population. Nuclear medicine plays a crucial role in personalized therapy, with hospitals and clinics, medical imaging centers, and healthcare expenditure driving demand. Drug development techniques and alternative treatments, including cyclotron production, are advancing diagnostic imaging and therapeutic agents for cancer and neurological disorders. Precision medicine and healthcare innovation are revolutionizing disease diagnosis and targeted treatment, while radiation therapy and imaging technology enhance patient care. Isotope supply and regulatory challenges are key considerations in this dynamic market. Molecular imaging and targeted treatments are transforming cancer care and neurological disorder management through PET scans, medical isotopes, and theranostics.
The radiopharmaceuticals market is a significant segment within the larger global pharmaceuticals industry, focusing on the production and research and development of nuclear medicines for medical imaging and personalized therapy. Chronic diseases, particularly in the cardiovascular and cancer divisions, are primary drivers for this market's growth. With an aging population, the geriatric demographic represents a substantial market opportunity, as the prevalence of chronic conditions increases with age. The global pharmaceuticals market encompasses manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. According to Technavio, the market's expansion will be fueled by the growing geriatric population, with one-fourth of the US population projected to be over 60 years old by 2050, and Europe expected to reach a similar ratio by 2030.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
