Radiopharmaceuticals also known as Nuclear medicines are a group of pharmaceutical drugs which have radioactivity and can be used as diagnostic and therapeutic agents.
Radiopharmaceuticals emit radiation themselves, which is different from fluids within the body which absorb or alter external electromagnetism or ultrasound. This phenomenon helps to identify the various abnormalities such as cancer cells, within the human body.
Market Drivers and Restraints
Global radiopharmaceuticals market is growing at a steady pace and anticipated to exhibit similar faster growth in the future.
The market growth is attributed to driving factors such as improvements in diagnostic facilities, an increase in the number of new cancer cases, and an increase in preference for radiation therapy for cancer treatment.
Moreover, developments in imaging technologies using radiopharmaceuticals and alpha radioimmunotherapy-based targeted cancer treatment are also key factors fueling the growth of the market.
The global radiopharmaceuticals market might experience a hindrance in the growth owing to the short half-life of radiopharmaceuticals, supply-demand gap of the pharmaceuticals, and high equipment prices of diagnostic imaging devices.
Market Segmentation
By Radioisotopes
Tec.99
F18
Iodine 131
Leutetium 177
Yttrium 90
Gallium 68
Gallium 67
Rubidium 82
Iodine 123
Iodine 125
Indium 111
Others
By Application
Oncology
Cardiology
Gastroenterology
Neuroendocrinology
Neurology
Nephrology
Others
By Source
Cyclotrons
Nuclear Reactor
By End User
Hospitals
Diagnostic Imaging Centers
Ambulatory Surgical Centers
Cancer Research Institute
Competitive Analysis
Several new players have entered into the global market for a radiopharmaceutical, and this trend denotes to the growing acceptance and popularity of dangerous drugs across the globe.
The market vendors that have earned a name for themselves in the global radiopharmaceuticals market have stuck to the basics of proper planning, marketing, and distribution of products. Established market vendors are recalibrating their business strategies to fit the needs and want of the consumers.
The distributors of dangerous drugs have also played a key role in reaching to wider audiences and expanding their consumer base. Product launch is one of the key strategy adopted by the principal manufacturers to improve their market presence across the globe.
For instance, In January 2018, Norgine B.V., a leading European specialty pharmaceutical company has announced the launch of LYMPHOSEEKฎ (Tc 99m tilmanocept) in Finland and Sweden. LYMPHOSEEK is a radiopharmaceutical used for diagnostic purposes by nuclear medicine specialists and surgeons.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
