The rise in cancer, cardiovascular, and neurological illness prevalence, the rise in demand for medical imaging, and the rise in product approval for radiopharmaceuticals are the main factors driving the growth of the Spain radiopharmaceuticals market share. The market is growing as a result of an increase in radiopharmaceutical R&D.
The alarming increase in the prevalence of chronic illnesses, including cancer, cardiovascular diseases, and neurological diseases is a crucial factor propelling the market for radiopharmaceuticals. The demand for radiopharmaceuticals is increased by such disease's rising prevalence as well as the corresponding rise in diagnosis and treatment needs. To identify and treat cancer, radiopharmaceuticals are injected into the body, where they gather in malignant tissues, enabling the detection and management of the illnesses.
Additionally, the market for radiopharmaceuticals is being driven by an increase in PET imaging and a rise in demand for accurate diagnostics. Moreover, during the forecast period, rising physician knowledge of nuclear medicine is anticipated to fuel market expansion for radiopharmaceuticals. The International Atomic Energy Agency had estimated that by 2020, 80% of medical imaging will be used annually to diagnose diseases, including cancer.
Moreover, in March 2023, AtomVie Global Radiopharma Inc., a company in the radiopharmaceutical sector, constructed an industry-leading Contract Development and Manufacturing Organisation (CDMO) facility for radiopharmaceuticals in Ontario, Canada. The brand-new facility will be used exclusively to distribute radiopharmaceuticals medicines around the world. A new subsidiary, Blue Earth Therapeutics, was also launched by Bracco Imaging in March 2022 with the goal of creating the next generation of therapeutic radiopharmaceutical technology. The existence of the radiopharmaceuticals sector offers a chance for the market for radiopharmaceuticals to expand.
On the other hand, side effects of radiopharmaceuticals such as drowsiness, fainting, fever, flushing, headache, nausea, vomiting, stomach pain, skin rashes, and difficulty in breathing are anticipated to limit the growth of the market during the forecast period.
The COVID-19 pandemic has had a significant impact on radiopharmaceuticals market. The pandemic has caused major disruptions to the production and supply of radiopharmaceuticals to the nuclear medicine department, resulting in shortages of radiopharmaceuticals. According to the European Journal of Nuclear Medicine and Molecular Imaging, in July 2021, around 81% of the countries reported a decrease in diagnostic scintigraphy procedures during the COVID-19 pandemic.
INSYSBIO, INDUVAC, B-NUCLEAR, GE HEALTHCARE, NUCLEUS BIOTEK, NUCLEON, TRADEO, EGAMMA, PHARMALINE, MEDIPHARMA are some of the companies operating in the market.
The alarming increase in the prevalence of chronic illnesses, including cancer, cardiovascular diseases, and neurological diseases is a crucial factor propelling the market for radiopharmaceuticals. The demand for radiopharmaceuticals is increased by such disease's rising prevalence as well as the corresponding rise in diagnosis and treatment needs. To identify and treat cancer, radiopharmaceuticals are injected into the body, where they gather in malignant tissues, enabling the detection and management of the illnesses.
Additionally, the market for radiopharmaceuticals is being driven by an increase in PET imaging and a rise in demand for accurate diagnostics. Moreover, during the forecast period, rising physician knowledge of nuclear medicine is anticipated to fuel market expansion for radiopharmaceuticals. The International Atomic Energy Agency had estimated that by 2020, 80% of medical imaging will be used annually to diagnose diseases, including cancer.
Moreover, in March 2023, AtomVie Global Radiopharma Inc., a company in the radiopharmaceutical sector, constructed an industry-leading Contract Development and Manufacturing Organisation (CDMO) facility for radiopharmaceuticals in Ontario, Canada. The brand-new facility will be used exclusively to distribute radiopharmaceuticals medicines around the world. A new subsidiary, Blue Earth Therapeutics, was also launched by Bracco Imaging in March 2022 with the goal of creating the next generation of therapeutic radiopharmaceutical technology. The existence of the radiopharmaceuticals sector offers a chance for the market for radiopharmaceuticals to expand.
On the other hand, side effects of radiopharmaceuticals such as drowsiness, fainting, fever, flushing, headache, nausea, vomiting, stomach pain, skin rashes, and difficulty in breathing are anticipated to limit the growth of the market during the forecast period.
The COVID-19 pandemic has had a significant impact on radiopharmaceuticals market. The pandemic has caused major disruptions to the production and supply of radiopharmaceuticals to the nuclear medicine department, resulting in shortages of radiopharmaceuticals. According to the European Journal of Nuclear Medicine and Molecular Imaging, in July 2021, around 81% of the countries reported a decrease in diagnostic scintigraphy procedures during the COVID-19 pandemic.
INSYSBIO, INDUVAC, B-NUCLEAR, GE HEALTHCARE, NUCLEUS BIOTEK, NUCLEON, TRADEO, EGAMMA, PHARMALINE, MEDIPHARMA are some of the companies operating in the market.
Key Benefits For Stakeholders
- Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
- Analyze the key strategies adopted by major market players in Spain radiopharmaceuticals market.
- Assess and rank the top factors that are expected to affect the growth of Spain radiopharmaceuticals market.
- Top player positioning provides a clear understanding of the present position of market players.
- Detailed analysis of the Spain radiopharmaceuticals market segmentation assists to determine the prevailing market opportunities.
- Identify key investment pockets for various offerings in the market.
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Key Market Segments
By Type
- Diagnostic
- Therapeutic
By End User
- Hospitals and clinics
- Medical Imaging centers
- Others
By Radioisotope
- Fluorine 18
- Iodine I
- Gallium 68
- Others
- Technetium 99m
By Application
- Cancer
- Cardiology
- Others
- Key Market Players
- INSYSBIO
- INDUVAC
- B-NUCLEAR
- GE HEALTHCARE
- NUCLEUS BIOTEK
- NUCLEON
- TRADEO
- EGAMMA
- PHARMALINE
- MEDIPHARMA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPAIN RADIOPHARMACEUTICALS MARKET, BY RADIOISOTOPE
CHAPTER 5: SPAIN RADIOPHARMACEUTICALS MARKET, BY APPLICATION
CHAPTER 6: SPAIN RADIOPHARMACEUTICALS MARKET, BY TYPE
CHAPTER 7: SPAIN RADIOPHARMACEUTICALS MARKET, BY END USER
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- INSYSBIO
- INDUVAC
- B-NUCLEAR
- GE HEALTHCARE
- NUCLEUS BIOTEK
- NUCLEON
- TRADEO
- EGAMMA
- PHARMALINE
- MEDIPHARMA
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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