For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Market Overview of Global Radiopharmaceuticals market:
According to our latest research, the global Radiopharmaceuticals market looks promising in the next 5 years. As of 2022, the global Radiopharmaceuticals market was estimated at USD 7336.93 million, and it's anticipated to reach USD 14786.83 million in 2028, with a CAGR of 12.39% during the forecast years.
Nuclear medicine is a medical specialty that uses radioactive tracers (radiopharmaceuticals) to diagnose and treat disease. Radiopharmaceuticals are unique medicinal formulations containing radioisotopes that are used in major clinical areas, and monitored via specific imaging devices, for diagnosis and/or therapy.
Assessment of the Overall Impact of COVID-19 on the Industry
The challenges for radiopharmaceuticals in COVID-19 come primarily from the supply chain.
Production of radioisotopes for the production of medical procedures continued during the Covid19 pandemic, but hospitals may face shortages due to bottlenecks in transportation and distribution. While most major actors continue to produce radioisotopes, production facilities have been defined as essential by the relevant governments. However, many airlines are no longer operating and borders are closed due to the epidemic, which has affected sales of medical radioisotopes around the world. Because most research and education activities using isotopes have been put on hold, many hospitals have delayed diagnostic applications. The most common medical radioisotope, technetium-99m (Tc-99m), is used in about 40 million procedures each year. All major producers of this radioisotope continue to operate. Research reactors in Argentina, Australia, Belgium, France, Poland, the Netherlands, Russia, South Africa, and the U.S. are poised to continue to meet demand. mo-99 is delivered by air, primarily as a source of Tc-99m to hospitals and nuclear medicine centers, usually within a few hours of administration to patients.
The North America accounts for about half of the global market, but relies on three suppliers of Mo-99/Tc-99m. Meanwhile, most African countries rely on a single supplier for this radioisotope, which is commonly used for cancer imaging tests. Many countries do not have access to therapeutic tracers because of cost and supply or distributor issues.
Market Development Constraints
Raw material supply challenge
There are generally three preparation methods for radiopharmaceuticals, the first is obtained from generators such as 99mTc which is prepared by molybdenum technetium generator, the second is obtained from 18F only by cyclotron bombardment of stable isotope 18O, the first two require companies to build nuclear pharmacies around hospitals and prepare them for use now; the third type is prepared directly from the reactor, such as 89Sr, which is prepared from a high-pass nuclear reactor, prepared into drugs in a standard GMP plant, and then transported to the hospital, and this type of product generally requires a half-life of several days to tens of days and is mainly used as a therapeutic drug. However, most of the initial raw materials for the preparation of nuclide drugs come from nuclear reactors, and the half-life of many raw materials is relatively short, so raw materials have a certain degree of scarcity and supply is relatively tight, such as 99Mo, the raw material for 99mTc. There are mainly 10 reactors supplying molybdenum worldwide, and with the decommissioning of NRU in Canada and OSIRIS in France, the capacity has been reduced by more than 20%. With the decommissioning of the NRU in Canada and OSIRIS in France, capacity has been reduced by more than 20% and the supply of molybdenum has become tight.
Region Overview:
From 2023-2028, North America is estimated to witness robust growth prospects.
Company Overview:
Curium, Novartis (AAA) , GE Healthcare , Eli Lilly and Bayer AG are the five key players in the global Radiopharmaceuticals market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Radiopharmaceuticals market in the past 5 years.
Curium Pharma is a company developing, manufacturing, and distributing SPECT, PET, and therapeutic radiopharmaceutical products for the nuclear medicine industry. Its portfolio of products includes generators, cold kits, hot and auxiliary products used in the diagnosis and treatment of a range of diseases affecting the thyroid, lungs, liver, bones, brain, heart, glands, kidneys, and joints.
Novartis is a Switzerland-based pharmaceutical company. The Company develops, manufactures, and markets branded and generic prescription drugs, active pharmaceutical ingredients (APIs), biosimilars and ophthalmic products. The Company uses science and digital technologies for treatments in the disease areas of immunology, dermatology, cancer, ophthalmology, neuroscience, respiratory, cardiovascular, renal and metabolism.
Advanced Accelerator Applications, a Novartis company, is an innovative radiopharmaceutical company developing, producing and commercializing nuclear medicine theragnostics. AAA is also an established leader in radiopharmaceuticals for Positron Emission tomography (PET) and Single-Photon Emission Computed Tomography (SPECT) diagnostic imaging, mainly used in clinical oncology, cardiology and neurology.
Segmentation Overview:
Among different product types, Technetium-99 segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Oncology segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Radiopharmaceuticals market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Radiopharmaceuticals Market Report:
Market Size Estimates: Radiopharmaceuticals market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Radiopharmaceuticals market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Radiopharmaceuticals market
Segment Market Analysis: Radiopharmaceuticals market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Radiopharmaceuticals market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Radiopharmaceuticals Market: Revenue and sales volume of major countries in each region
Radiopharmaceuticals Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Radiopharmaceuticals market in major regions.
Radiopharmaceuticals Industry Value Chain: Radiopharmaceuticals market raw materials & suppliers, manufacturing process, distributors, downstream customers
Radiopharmaceuticals Industry News, Policies & Regulations
Key players in the global Radiopharmaceuticals market are covered in Chapter 12:
Jubilant Pharma
Curium
GE Healthcare
PeptiDream
ROTOP Pharmaka GmbH
Novartis (AAA)
Eczac?ba?? Monrol Nuclear Products
Sun Pharmaceutical Industries
Bracco Imaging
Eli Lilly
Lantheus Medical Imaging
Yantai Dongcheng Pharmaceutical
Cardinal Health
Bayer AG
In Chapter 2 and Chapter 15.1, based on types, the Radiopharmaceuticals market from 2018 to 2028 is primarily split into:
Technetium-99
Fluorine-18
Iodine-131
Lutetium-177
Yttrium-90
Radium-223
Gallium-67
Rubidium-82
Iodine-123
Iodine-125
Indium-111
Others
In Chapter 3 and Chapter 15.2, based on applications, the Radiopharmaceuticals market from 2018 to 2028 covers:
Oncology
Cardiology
Neurology
Endocrinology
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Radiopharmaceuticals market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028