The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest radiopharmaceuticals market share, and Middle East was the fastest-growing region in 2022.

The global radiopharmaceuticals market is expected to grow from $5.9 billion in 2022 to $6.17 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The radiopharmaceuticals market is expected to grow from $8.25 billion in 2027 at a CAGR of 7.5%.

Major Driver In The Radiopharmaceuticals Market ­– Increase In The Prevalence Of Cancer And Cardiovascular Diseases
According to the International Agency for Research on Cancer (IARC), the global burden of cancer is expected to reach 27.5 million active cancer occurrences and 16.3 million cancer deaths by 2040, owing mostly to population growth and ageing. Cancer kills over 70% of people in low- and middle-income countries. As a result, growing cancer and cardiovascular disease cases are predicted to drive up demand for radiopharmaceuticals used in their treatment.

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Key Radiopharmaceuticals Market Segments
1) By Type: Diagnostic, Therapeutic, Other Types
2) By Application: Oncology, Cardiology, Gastroenterology, Neuroendocrinnology, Neurology, Nephrology, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Cancer Research Institutes, and Other End Users

Recent Radiopharmaceuticals Market Trend – Adopting Various Strategic Initiatives
Many firms are implementing various strategic initiatives, such as establishing a new manufacturing facility and increasing plant capacity, which is gaining traction in the radiopharmaceuticals industry. For example, ITM Isotopen Technologien Munchen AG (ITM) announced the opening of a new manufacturing facility in the Munich area to boost the production capacity of radiopharmaceuticals including high-purity (n.c.a.) Lutetium-177 and no-carrier-added (n.c.a.) Lutetium-177. Lutetium-177, also known as EndolucinBeta, is a novel isotope utilised in cancer therapy. This is the company’s first move towards satisfying the world’s huge demand for high-quality medical isotopes for precision oncology.

Radiopharmaceuticals Market Prominent Players
Major players in the radiopharmaceuticals market are Siemens Healthcare Private Limited, Bayer, GE Healthcare, Novartis AG, Cardinal Health, Lantheus Medical Imaging Inc., Bracco Imaging S.p.A., Nordion Inc. (A subsidiary of Sterigenics International), Mallinckrodt PLC., Curium, Eckert & Ziegler, Eli Lilly, Eckert & Ziegler, IBA Group, Merck & Co. Inc., Philips Healthcare, Fujifilm Holding Corporation, Areva Pharma, Navidea Biopharmaceuticals Inc., Actinium Pharmaceuticals Inc., Global Medical Solutions LTD., and Shine Medical Technologies.

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The Radiopharmaceuticals Global Market Report 2023  provides a comprehensive overview on the radiopharmaceuticals market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the radiopharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A radiopharmaceutical is a drug that contains a radioactive substance and is used to treat or diagnose disorders such as cancer. Radioactive medicine is another name for it. These are the processes used to diagnose illnesses or detect medical problems. They can be given to the patient in a variety of methods. They could be injected, orally injected, or injected into the eye or bladder, for example.

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