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Radiopharmaceuticals - Global Market Trajectory & Analytics

  • ID: 835008
  • Report
  • February 2022
  • Region: Global
  • 693 Pages
  • Global Industry Analysts, Inc

New Therapeutic Radiopharmaceuticals to Drive Global Market

Global Radiopharmaceuticals Market to Reach US$8.9 Billion by the Year 2026


Radiopharmaceuticals are medicinal solutions containing radioisotopes or radiotracers, which are administered to the patient where they localize to specific organs and emit radiation. Growth in the global market is supported by growing number of nuclear procedures driven by rise in prevalence of cancer, and heart diseases. Significant therapeutic usage of radiopharmaceuticals became possible after the availability of cyclotrons and nuclear reactors which could synthesize large quantities of radioisotopes. The market is further supported by the recent discovery of newer and successful therapeutic applications of radiopharmaceuticals in oncology and cardiology prognosis. Additional impetus from a stream of drug development and testing phases demonstrate the interest surrounding radiopharmaceuticals. Development and progress in this space is anticipated to be fueled by immunology combined with radioisotopes and monoclonal antibodies so as to produce radioisotopes with unprecedented specificity in cancer diagnosis and therapy. Rising popularity of advanced SPECT/CT and PET/CT scanners is also expected to unravel new clinical opportunities.

Amid the COVID-19 crisis, the global market for Radiopharmaceuticals estimated at US$5.3 Billion in the year 2020, is projected to reach a revised size of US$8.9 Billion by 2026, growing at a CAGR of 8.7% over the analysis period. SPECT Radioisotopes, one of the segments analyzed in the report, is projected to grow at a 8.1% CAGR to reach US$4.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pet Radioisotopes segment is readjusted to a revised 9.5% CAGR for the next 7-year period. This segment currently accounts for a 24% share of the global Radiopharmaceuticals market. PET diagnostic radiopharmaceuticals are employed in procedures utilizing PET/CT or PET diagnostic scanners while SPECT diagnostic radiopharmaceuticals are employed in procedures utilizing gamma cameras. Rising popularity of advanced SPECT/CT scanners is expected to unravel new clinical opportunities for SPECT Radioisotopes. Rise in PET procedural volume is expected to provide opportunities for radiopharmaceuticals such as Fluorodeoxyglucose (FDG).



The U.S. Market is Estimated at $2.7 Billion in 2021, While China is Forecast to Reach $545.7 Million by 2026


The Radiopharmaceuticals market in the U.S. is estimated at US$2.7 Billion in the year 2021. The country currently accounts for a 48% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$545.7 Million in the year 2026 trailing a CAGR of 11.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.7% and 6.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.6% CAGR while Rest of European market (as defined in the study) will reach US$591.5 Million by the end of the analysis period.

Beta Emitters Segment to Reach $1.6 Billion by 2026


Certain radiopharmaceuticals consist of radionuclides that deliver particulate emission such as beta or alpha radiations or auger electrons possessing the capability to kill diseased tissues. In the global Beta Emitters segment, USA, Canada, Japan, China and Europe will drive the 10.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$744.7 Million in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$65.1 Million by the year 2026, while Latin America will expand at a 10.5% CAGR through the analysis period.

Select Competitors (Total 137 Featured) -

  • Actinium Pharmaceuticals, Inc.
  • Alliance Medical
  • Avid Bioservices Inc
  • Bayer HealthCare Pharmaceuticals
  • Bracco Diagnostics, Inc.
  • Cardinal Health, Inc.
  • GE Healthcare
  • Ion Beam Applications S.A
  • Jubilant Pharma
  • Lantheus Medical Imaging Inc.
  • Medi-Radiopharma Ltd
  • Nordion, Inc.
  • Novartis/Advanced Accelerator Applications
  • Positron Corporation
  • Radiopharm Theranostics Ltd.
Frequently Asked Questions about the Global Market for Radiopharmaceuticals

What is the estimated value of the Global Market for Radiopharmaceuticals?

The Global Market for Radiopharmaceuticals was estimated to be valued at $5.3 Billion in 2020.

What is the growth rate of the Global Market for Radiopharmaceuticals?

The growth rate of the Global Market for Radiopharmaceuticals is 9.0%, with an estimated value of $8.9 Billion by 2026.

What is the forecasted size of the Global Market for Radiopharmaceuticals?

The Global Market for Radiopharmaceuticals is estimated to be worth $8.9 Billion by 2026.

Who are the key companies in the Global Market for Radiopharmaceuticals?

Key companies in the Global Market for Radiopharmaceuticals include Actinium Pharmaceuticals, Inc., Alliance Medical, Avid Bioservices Inc, Bayer HealthCare Pharmaceuticals, Bracco Diagnostics, Inc., Cardinal Health, Inc., GE Healthcare, Ion Beam Applications S.A and Lantheus Medical Imaging Inc..

Table of Contents

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Pandemic-Led Disruptions Affect Radiopharmaceuticals Supply, Hindering Nuclear Medicine Procedures in Several Countries
  • Imaging Screening Volume % Change 1H 2019 Vs 1H 2020 in US Hospitals
  • Distribution Bottlenecks amid COVID-19 Crisis Leave Hospitals Struggling with Supply of Medical Radioisotopes
  • Nuclear Medicine Services Limp Back to Normalcy after Easing of COVID-19 Restrictions
  • COVID-19 Presents Generational Opportunity
  • Radiopharmaceuticals - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • An Introduction to Radiopharmaceuticals
  • Mechanism of Action
  • Global Market Prospects & Outlook
  • Key Market Drivers
  • Market Restraints
  • Recognition of Intrinsic Cost Benefits: Critical to Market Acceptance
  • Classification of Radiopharmaceuticals
  • Diagnostic Radiopharmaceuticals: The Dominant Segment
  • Key Drivers
  • Positron Emission Tomography (PET)
  • Single Photon Emission Computed Tomography (SPECT)
  • Therapeutic Radiopharmaceuticals
  • Global Supply Shortages Continue to Challenge Market Growth
  • A Glimpse at Mo-99 Processors Worldwide
  • Nuclear Research Reactor Irradiators Worldwide: A Snapshot
  • Competitive Landscape
  • Radiopharmaceuticals Competitor Market Share Scenario Worldwide (in %): 2020
  • World Brands
  • Recent Industry Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Emergence of Radiotheranostics: Dual-Functioning Radiopharmaceuticals
  • Common Radionuclides Used in Theranostic Applications
  • Radiopharmaceuticals Become Promising for Cancer Theranostics
  • Changing Role of Radiopharmaceuticals in Diagnostic and Therapeutic Applications
  • Advent of New Radiopharmaceuticals Widen Scope
  • Select New Products
  • Startups Develop Unique Radiopharmaceutical Solutions
  • Potential Role of Carbon Dots in Imaging and Theranostics
  • Nano Radiopharmaceuticals: Promising Role in Therapeutic and Imaging Applications
  • Researchers Develop New Nanoparticles to Improve Radiopharmaceutical Efficiency
  • Oncoinvent and NPL Develops Unique Method to Measure & Deliver Dosages in Radiotherapy
  • Industry Focus Gears up for Innovative Radiopharmaceuticals with Therapeutic Benefits
  • Select Commercially Available Therapeutic Radiopharmaceuticals
  • Role of Radiopharmaceuticals as Diagnostic Technology
  • PET Eclipses SPECT in Cardiovascular Imaging
  • Worldwide Installed Base of Nuclear Imaging Equipment by Modality, PET Vs SPECT: 2020
  • Cardiac Amyloidosis Visualization: A Potential Application for PET
  • Innovative Radiopharmaceuticals to Boost Cardiac Applications
  • Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Radiopharmaceuticals: Direct and Targeted Approach for Cancer Treatment
  • Rising Cancer Incidence Worldwide Spurs Demand
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2020
  • Number of New Cancer Cases and Deaths (in Million) by Region for 2020
  • Intra-operative Lymphatic Mapping (ILM): Creates New Opportunities for Radiopharmaceuticals in Cancer Detection
  • Growing Prominence of Therapeutic Radiopharmaceuticals for Cancer Care
  • Rise in Incidence of Neurological Disorders to Drive Growth
  • Application of PET in Drug Development to Expand Opportunities
  • Personalized Medicine Drives Nuclear Medicine
  • Drug Ineffectiveness for Select Therapeutic Categories as a Percentage of Patient Population
  • Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019 and 2024
  • Gallium-68-labeled Radiopharmaceuticals: Production & Administering Challenges
  • Radiopharmaceuticals for COVID-19: Role in Diagnosis, Prognosis, and Therapeutic Uses
  • Arti?cial Intelligence: A Promising Tool in Radiotherapy and Radiopharmaceuticals
  • Aging Global Population: A Vital Demography
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Global Cancer Deaths by Age Group (in %) for 2019
  • Rise in Healthcare Expenditure to Drive Growth
  • World Healthcare Expenditure (In US$ Trillion) for the Years for 2017, 2019, 2021 & 2023
  • Elderly Healthcare Expenditure as a % of GDP in the US, Europe and Japan for 1970, 2010 and 2050
  • Relevant Aspects of Radiopharmaceutical Production
  • Regulatory Regime Governing Production and Use of Radiopharmaceuticals
  • The Facilitating Innovative Nuclear Diagnostics (FIND) Act, 2021
  • Challenges Facing Nuclear Medicine Industry

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Diagnostic Applications Stimulate Future Growth
  • Demographic Changes Offer Growth Opportunities
  • US Elderly Population: Expected Growth Rates (%) Over the Years 2005-2025
  • Rising Incidence of Cancer: A Major Growth Driver
  • Estimated Number of New Cancer Cases in the US by Gender and Affected Site for 2021
  • Estimated Number of Cancer-Related Deaths in the US by Gender and Body Site for 2021
  • Estimated Number of New Cancer Cases in the US by State for 2021
  • Estimated Number of Cancer-Related Deaths in the US by State for 2021
  • Cardiovascular Imaging to Lead Volume Growth
  • Radiopharmaceuticals Usage Grows in PET Imaging
  • Radioisotope/Radiopharmaceuticals Supply Scenario
  • Passing of Medicare Diagnostic Radiopharmaceutical Payment Equity Act

CANADA

  • Market Overview
  • Efforts on to Address Mo-99 Supply Shortage

JAPAN

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview

CHINA

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview

EUROPE

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview

FRANCE

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview

AUSTRALIA

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Overview

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Radiopharmaceuticals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 137

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Actinium Pharmaceuticals, Inc.
  • Alliance Medical
  • Avid Bioservices Inc
  • Bayer HealthCare Pharmaceuticals
  • Bracco Diagnostics, Inc.
  • Cardinal Health, Inc.
  • GE Healthcare
  • Ion Beam Applications S.A
  • Jubilant Pharma
  • Lantheus Medical Imaging Inc.
  • Medi-Radiopharma Ltd
  • Nordion, Inc.
  • Novartis/Advanced Accelerator Applications
  • Positron Corporation
  • Radiopharm Theranostics Ltd.