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Radiopharmaceuticals in Nuclear Medicine
Therapeutic nuclear medicine utilizes minute amounts of radioactive material known as radiotracers to diagnose, treat, and monitor various diseases.
SEATTLE , WASHINGTON, UNITED STATES, December 13, 2021 /EINPresswire.com / -- Global Radiopharmaceuticals in Nuclear Medicine Market
Therapeutic nuclear medicine utilizes minute amounts of radioactive material known as radiotracers to diagnose, treat, and monitor various diseases. These include leukemia, lung cancer, gastrointestinal, reproductive, or immune system disorders, and many other medical conditions. The technology is highly accurate and can provide results instantaneously, even in real time. Radiotherapy is the use of a radioactive substance to facilitate the treatment of cancer and other diseases.
The global radiopharmaceuticals in nuclear medicine market is estimated to be valued at US$ 6,700.5 million in 2020 and is expected to exhibit a CAGR of 8.0% over the forecast period (2020-2027).
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Recent Developments
Major players operating in the global radiopharmaceuticals in nuclear medicine market are focused on adopting merger and acquisition strategies to expand their product portfolio. For instance, in 2017, Cardinal Health, Inc. acquired North American rights of Lymphoseek, a radiopharmaceutical diagnostic imaging agent, from Navidea Biopharmaceuticals, Inc.
Global Radiopharmaceuticals in Nuclear Medicine Market: Drivers
R&D of novel products is expected to propel growth the global radiopharmaceuticals in nuclear medicine market over the forecast period. For instance, in July 2018, GE Healthcare and Lantheus Holdings, Inc., parent company of Lantheus Medical Imaging, Inc., initiated a second Phase 3 clinical trial of Flurpiridaz 18F (called the AURORA study), an investigational agent being evaluated for the detection of coronary artery disease (CAD), one of the most common forms of heart disease.
Global Radiopharmaceuticals in Nuclear Medicine Market: Restraints
Low availability of Technetium-99m and prolonged closures of nuclear reactors is expected to restrain growth of the global radiopharmaceuticals in nuclear medicine market over the forecast period. For instance, in March 2018, the National Research Universal nuclear reactor in Chalk River, Ontario, Canada went offline for the final time and the Osiris reactor in France shut down at the end of 2015.
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Global Radiopharmaceuticals in Nuclear Medicine Market: Competitive Landscape
Major players operating in the global radiopharmaceuticals in nuclear medicine market include, Advanced Accelerator Applications, S.A., Bracco S.p.A., Bayer AG, Curium Pharma, Cardinal Health, Inc., DuChemBio, Inc., Eli Lilly and Company, FUJIFILM Toyama Chemical Co., Ltd., General Electric Company, Jubilant Life Sciences Ltd., Life Molecular Imaging, Lantheus Holdings, Inc., Nihon Medi-Physics. Co. Ltd., NorthStar Medical Radioisotopes LLC, Progenics Pharmaceuticals, Inc., and Samyoung Unitech.
Global Radiopharmaceuticals in Nuclear Medicine Market: Key Takeaways
Major players operating in the global radiopharmaceuticals in nuclear medicine market are focused on approval and launch of new products to expand their product portfolio. For instance, in February 2018, the U.S. Food and Drug Administration approved NorthStar Medical Radioisotopes, LLC's RadioGenix System, a radioisotope separation platform that is indicated for producing widely-used medical radioisotope technetium-99 from the company's non-uranium based molybdenum-99.
Global Radiopharmaceuticals in Nuclear Medicine Market: Segmentation
On the basis of product type, the global radiopharmaceuticals in nuclear medicine market is segmented into:
Diagnostic Nuclear Medicine
SPECT Radiopharmaceuticals
PET Radiopharmaceuticals
Therapeutic Nuclear Medicine
On the basis of application, the global radiopharmaceuticals in nuclear medicine market is segmented into:
Oncology
Cardiology
Neurology
Endocrinology
Others
On the basis of end user, the global radiopharmaceuticals in nuclear medicine market is segmented into:
Hospitals
Specialty Clinics
Diagnostic Centers
On the basis of region, the global radiopharmaceuticals in nuclear medicine market is segmented into:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
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