One Stop Shop For Reports One Stop Shop For Reports
  • All Reports
  • All Sectors
    • Chemicals & Materials
      • Advanced Materials
      • Bulk Chemicals
      • Coatings | Paints and Additives
      • Composites
      • Renewable | Speciality chemicals
    • Consumer Goods
      • Baby Products
      • Consumer Electronics
      • Consumer Packaging
      • Cosmetics & Personal Care
      • Homecare & Decor
      • Luxury & premium products
    • Energy and Power
      • Energy Efficiency and Conservation
      • Green | Renewable Energy
      • Non Renewable | Conventional Energy
      • Power Equipment and Devices
    • Life Science
      • Biotechnology
      • Diagnostics
      • Healthcare
      • Healthcare IT
      • Medical Devices & Supplies
      • Pharmaceuticals
    • Food and Beverage
      • Agriculture & Agri Products
      • Beverages
      • Food Ingredients
      • Food Services and Hospitality
      • Nutraceutical | Wellness Food
      • Processed & Frozen Foods
    • Automotive and Transportation
      • Automotive components
      • Automotive Logistics
      • Automotive systems and accessories
    • Information and Communications Technology
      • E Commerce and Outsourcing
      • Entertainment & Media
      • High Tech | Enterprise & Consumer IT
      • Information & Network Security
      • Mobility | Telecom & Wireless
      • Software and Services
    • Semiconductor and Electronics
      • Semiconductor Materials and Components
      • Display Technology
      • Electronics System and Components
      • Emerging technologies
      • Security and Surveillance
      • Sensors and Controls
    • Building and Construction
      • Construction Materials
      • HVAC
      • Residential Construction and Improvement
      • Roads & Highways
    • Manufacturing
      • Manufacturing Services
      • Heavy Manufacturing
      • Packaging
      • Engineering | Equipment and Machinery
  • Who Trust Us
  • [email protected]
  • +1 718 874 1545 (International)
  • +91 78878 22626 (Asia)

More Results

One Stop Shop For Reports One Stop Shop For Reports
  • All Reports
  • All Sectors
    • Chemicals & Materials
      • Advanced Materials
      • Bulk Chemicals
      • Coatings | Paints and Additives
      • Composites
      • Renewable | Speciality chemicals
    • Consumer Goods
      • Baby Products
      • Consumer Electronics
      • Consumer Packaging
      • Cosmetics & Personal Care
      • Homecare & Decor
      • Luxury & premium products
    • Energy and Power
      • Energy Efficiency and Conservation
      • Green | Renewable Energy
      • Non Renewable | Conventional Energy
      • Power Equipment and Devices
    • Life Science
      • Biotechnology
      • Diagnostics
      • Healthcare
      • Healthcare IT
      • Medical Devices & Supplies
      • Pharmaceuticals
    • Food and Beverage
      • Agriculture & Agri Products
      • Beverages
      • Food Ingredients
      • Food Services and Hospitality
      • Nutraceutical | Wellness Food
      • Processed & Frozen Foods
    • Automotive and Transportation
      • Automotive components
      • Automotive Logistics
      • Automotive systems and accessories
    • Information and Communications Technology
      • E Commerce and Outsourcing
      • Entertainment & Media
      • High Tech | Enterprise & Consumer IT
      • Information & Network Security
      • Mobility | Telecom & Wireless
      • Software and Services
    • Semiconductor and Electronics
      • Semiconductor Materials and Components
      • Display Technology
      • Electronics System and Components
      • Emerging technologies
      • Security and Surveillance
      • Sensors and Controls
    • Building and Construction
      • Construction Materials
      • HVAC
      • Residential Construction and Improvement
      • Roads & Highways
    • Manufacturing
      • Manufacturing Services
      • Heavy Manufacturing
      • Packaging
      • Engineering | Equipment and Machinery
  • Who Trust Us
Home ➤ Life Science ➤ Pharmaceuticals ➤ Radiopharmaceutical Market
Radiopharmaceutical Market
Radiopharmaceutical Market
Published date: Nov 2023 • Formats:
Request Sample Schedule a Call
  • Home ➤ Life Science ➤ Pharmaceuticals ➤ Radiopharmaceutical Market

Global Radiopharmaceuticals Market by Type (Diagnostic Nuclear Medicine and Therapeutic Nuclear Medicine), By Application (Oncology, Neurology, Cardiology, and other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2024-2032

  • Published date: Nov 2023
  • Report ID: 21356
  • Number of Pages: 232
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
  • Request a Free Sample
  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Type Analysis
    • Application Analysis
    • End-User Analysis
    • Key Market Segments
    • Drivers
    • Restraints
    • Opportunity
    • Trends
    • Regional Analysis
    • Key Players Analysis
    • Key Industry Developments
    • Report Scope

    Report Overview

    Global Radiopharmaceuticals Market size is expected to be worth around USD 10.3 Billion by 2032 from USD 4.9 Billion in 2023, growing at a CAGR of 8.85% during the forecast period from 2023 to 2032.

    Radiopharmaceuticals are the type of pharmaceutical drugs that include high-energy radioactivity. Radiopharmaceuticals are radioactive isotopes used in clinical centers for therapy and diagnosis. The medicinal drugs are inserted by medical professionals and radio pharmacists who are well-trained in nuclear medicine. They are taken both orally or directly injected into the body. Once medicine reaches the target location, it destroys the tumor cells by releasing radioactive agents.

    The increase in the prevalence of target diseases and increased demand for alpha radio immunotherapy-based target cancer treatments help grow the radiopharmaceuticals market. The increased use of PET scanners is responsible for the increased procedure volume.

    Rapidly adapting sophisticated radiopharmaceutical procedures for cancer treatment will boost the market revenue growth. The market is estimated as a challenge due to a lack of funding and technological innovation in emerging countries, reduced hospital budgets during the pandemic, and lack of infrastructure in low-income regions Restrict the market growth.

    However, the increase in the use of neurological applications and healthcare funding supports the growth of the radiopharmaceuticals market in the coming years.

    Radiopharmaceuticals Market

    Key Takeaways

    • Market Size: Global Radiopharmaceuticals Market size is expected to be worth around USD 10.3 Billion by 2032 from USD 4.9 Billion in 2023.
    • Market Growth: The market growing at a CAGR of 8.85% during the forecast period from 2023 to 2032.
    • Type Analysis: In 2022, the diagnostic nuclear medicine segment generated 52.4% of the revenue.
    • Application Analysis: The oncology segment dominated the market in terms of application, growing at a CAGR of 53% from 2023 to 2032.
    • End-Use Analysis: The hospitals and clinics segment Held the largest Shares in the Market segment.
    • Regional Analysis: North America held the highest revenue share of 47% in 2022.
    • Innovation and Research: Ongoing research and development in radiopharmaceuticals are expected to introduce more effective and precisely targeted diagnostic and therapeutic options.
    • Regulatory Support: Enhanced regulatory approvals for radiopharmaceuticals are facilitating their quicker entry into the market, boosting growth.
    • Market Challenges: Despite robust growth, challenges such as high costs, short half-life of radiopharmaceuticals, and stringent safety regulations remain prevalent.

    Type Analysis

    Diagnostic Nuclear Medicine Dominate the Product Type Segment in Radiopharmaceuticals Market

    Based on product type, the radiopharmaceuticals market is classified into Therapeutic nuclear medicine and Diagnostic nuclear medicine. The diagnostic segment dominates the market growth during the forecast period. The Technetium-99m is a radioisotope significantly used in diagnostic nuclear medicine.

    The radioisotope binds with several certain molecules to diagnose several diseases, such as cancer. Diagnostic nuclear medicine is classified into PET and SPECT radiopharmaceuticals. PET radiopharmaceuticals are segmented into 68Ga, 11C, 68Cu, and others.

    The SPECT is radiopharmaceuticals also segmented into Technetium-99m, Thallium-201, Xenon-133, and others. Therapeutic radiopharmaceuticals are expected to grow at the highest growth rate.

    Due to some factors, such as effective treatment advantages associated with treatments and rising interest in therapeutic radiopharmaceuticals by market key players concentrating on clinical trials, the market growth is boosted.

    Application Analysis

    Oncology holds Largest Shares in the Application Segment

    Based on application, the market is segmented into Neurology Devices, Cardiology, Oncology, and others. The Oncology segment holds the largest market share in the radiopharmaceuticals market during the forecast period. Due to the increasing number of diagnosed patients, the market demand increases.

    The market expansion is boosted by advanced development to provide individuals with monoclonal antibodies and radio-labeled peptides to treat and diagnose malignant tumors. The cardiology segment is also estimated to grow at a significant CAGR during the forecast period.

    The growth of this segment is due to the increasing use of radiopharmaceuticals for the diagnosis of cardiovascular diseases. The rising incidence of obesity, lifestyle disorders, and tumors caused by poor behaviors among the elderly are the main factors that drive the demand for radiopharmaceuticals.

    Radiopharmaceuticals Market

    End-User Analysis

    The hospitals and clinics segment Held the largest Shares in the Market segment.

    Based on end-users, the radiopharmaceuticals market is segmented into diagnostic centers, hospitals & clinics, and Other end-users. The hospitals and clinics segment is estimated to expand at the largest CAGR during the projection period due to the high demand for a procedural volume of radiopharmaceutical procedures and higher efficiency for handling such sensitive devices in hospitals and clinics.

    The diagnostic centers segment also held the largest segment in the radiopharmaceuticals market, with the highest CAGR during the projected period. This segment shows a growth rate due to rising diagnostic institutes and organizations.

    Key Market Segments

    Based on Product Type

    • Diagnostic Nuclear Medicine
    • Therapeutic Nuclear Medicine

    Based on Application

    • Neurology
    • Cardiology
    • Oncology
    • Others

    Based on End-User

    • Hospitals & clinics
    • Diagnostic Centers
    • Other End-users

    Drivers

    Increase in Prevalence of Chronic Diseases

    The increasing rate of chronic and acute diseases worldwide, such as cancers, is due to the major factors that help to drive the market growth. Radiopharmaceuticals devices diagnose the tumor cells present in the body.

    Most of the death rate is caused due to presence of cancer across the globe. Increasing advancements in development and research, especially in developing countries affecting medical devices and instruments, create lucrative opportunities in the radiopharmaceutical market. Advanced development and research are conducted in nuclear medicine, driving the market growth rates.

    A rising number of collaborations and partnerships with private and public companies for funding and innovative technology create enormous opportunities for the radiopharmaceutical market. There is a lack of organized & good manufacturing practice supplies in the radiopharmaceutical sector and strict regulations controlling the use of radiopharmaceuticals. Professionals advocate for establishing radiopharmaceutical pharmacies to solve the quality assurance difficulties and nuclear medicine.

    A centralized radiopharmacy concept provides various benefits to patients and government authorities, including the capacity to remove patient-specific prescriptions and demand for the items from all services and sources. These activities are estimated to improve market growth during the forecast period.

    Restraints

    Expiration of Radiopharmaceuticals due to Short-life

    The expiration of radiopharmaceuticals due to a short life span, limited infrastructure, high-cost development and research, expensive equipment, and lack of awareness of such factors restrict the market growth.

    Moreover, the lack of funding, government policies, and technologies in many countries are responsible for the decline of this market. During the pandemic, many hospital budgets are cut, and the lack of suitable treatments and infrastructure in the low-income region challenges market growth.

    The radiopharmaceuticals market provides new developments, production analysis, trade regulations, and market shares, affecting the localized and native market players.

    Opportunity

    Use of Radiopharmaceuticals in Neurological Application

    The increase in private-public funding for research & development activities, growing awareness about the benefits of radiotherapies, and the geriatric population increase this market’s growth.

    The advanced development & research in radiopharmaceuticals helps with the increase in demand of the market all around the world. Additionally, the rise in demand for the supply gap of mo-99, the increase in applications of radioisotopes in the healthcare industry, and the increasing use of radiopharmaceuticals in neurology will expand the market growth in the coming years.

    Trends

    Increase in Prevalence of Chronic Diseases to Boost the Market Growth

    Chronic conditions such as cancer, cardiovascular diseases, chronic lung disease, strokes, chronic kidney disease, Alzheimer’s disease, and various neurological problems are becoming more common worldwide.

    Nuclear substances are utilized for diagnosis, which is used for diagnostic tests such as Positron Emission Tomography (PET) and Single-photon Emission Computerized Tomography (SPECT), which is necessary for treating chronic diseases.

    With an increase in chronic diseases, there is also an increase in demand for radiopharmaceuticals to drive market expansion. Nuclear medicine includes the diagnosis of CVD and cancer. Many companies and stockholders focus on expanding the overall uses of radiopharmaceuticals in the market.

    The demand for adoption of radiopharmaceuticals is estimated to rise in the coming years.  Many market players are developing advanced products to treat various medical conditions, boosting market growth..

    Regional Analysis

    North America Generates the Largest Revenue Shares in the Radiopharmaceuticals Market

    North America dominates the radiopharmaceuticals market 47% due to the presence of healthcare facilities, the increase in the number of chronic diseases patients such as stocks, coronary disorder, and cancer, and the number of research activities in this region.

    The rise in cardiovascular and cancer diseases in the United States drives the growth of the radiopharmaceuticals market. The nuclear medicine rate has increased due to the increasing population and poor lifestyle choices, resulting in a rise in obesity and cancer cases.

    The adaption of advanced radioisotope manufacturing methods to treat this disease is estimated to boost radiopharmaceuticals in this region. The radiopharmaceuticals in this region provide radiologists with an advantage in treating various diseases. The targeted medicine and advanced technologies incorporated in cyclotrons for the medications of cardiovascular disorders and cancers will help boost the demand for the radiopharmaceutical market in the USA.

    Europe is estimated to have the second largest market growth segment due to regional expansion through mergers and acquisitions by the regional market players. Asia-Pacific is estimated to show significant growth during the forecast period.

    Due to the rise in government initiatives for advanced research & development, growing awareness, availability of markets, huge patient population, and well-developed infrastructure helps market growth. Also, the increase in cardiovascular diseases and major key market players is growing the healthcare demand in the Asia-Pacific region.

    The increase in radiological procedures due to the number of chronic disorders in the major countries such as India, Japan, and China drives the market growth in the Asia-Pacific region.

    Latin America and Middle East Africa regions are anticipated to witness an increase in healthcare expenditure and growing awareness of therapeutic and diagnostic medicines for the treatment of disorders.

    Radiopharmaceuticals Market

    Key Regions

            North America

      • The US
      • Canada

            Western Europe

      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Portugal
      • Ireland
      • Austria
      • Switzerland
      • Benelux
      • Nordic
      • Rest of Western Europe

             Eastern Europe

      • Russia
      • Poland
      • The Czech Republic
      • Greece
      • Rest of Eastern Europe

             APAC

      • China
      • Japan
      • South Korea
      • India
      • Australia & New Zealand
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC

             Latin America

      • Brazil
      • Colombia
      • Chile
      • Argentina
      • Mexico
      • Costa Rica
      • Rest of Latin America

             Middle East & Africa

      • Algeria
      • Egypt
      • Israel
      • Kuwait
      • Nigeria
      • Saudi Arabia
      • South Africa
      • Turkey
      • United Arab Emirates
      • Rest of MEA

    Key Players Analysis

    Emerging key players are focused on various strategic policies to develop their respective businesses in foreign markets. Several AI Voice Generator market companies are concentrating on expanding their existing operations and R&D facilities.

    Furthermore, businesses in the AI Voice Generator market are developing new products and portfolio expansion strategies through investments, mergers, and acquisitions. In addition, several key players are now focusing on different marketing strategies, such as spreading awareness about natural ingredients, which is boosting the target products’ growth.

    With many local and regional players’ presence, the radiopharmaceuticals market is fragmented. Market players are subject to intense competition from top market players, particularly those with strong brand recognition and high distribution networks. Companies have gained various expansion strategies, such as partnerships and product launches, to stay on top of the market.

    Market Key Players

    • Cardinal Health
    • GE Healthcare
    • Lantheus Medical Imaging
    • Bayer AG
    • NTP Radioisotopes
    • JSC Isotope
    • NorthStar Medical Radioisotopes
    • Eckert & Ziegler
    • Braun Melsungen AG
    • Smith & Nephew plc
    • Other key players

    Key Industry Developments

    • Acquisition by Cardinal Health: In September 2024, Cardinal Health announced the acquisition of Integrated Oncology Network for approximately $1.1 billion, highlighting its commitment to expanding oncology services across a network of independent community healthcare providers​.
    • New Product Launch: Cardinal Health was selected as the U.S. commercial distributor for Telix Pharmaceuticals’ Zircaix, a PET imaging agent for kidney cancer, announced in September 2024. This partnership is anticipated to enhance the availability of innovative diagnostic solutions across the U.S.​
    • Partnership for Theranostics: In December 2023, Cardinal Health entered into a manufacturing agreement with Clarity Pharmaceuticals to produce Clarity’s Targeted Copper Theranostics for U.S.-based clinical trials. This collaboration focuses on developing ready-to-use radiopharmaceuticals for cancer diagnosis and treatment.

    Report Scope

    Report Features Description
    Market Value (2022) USD 4.5 Billion
    Forecast Revenue (2032) USD 10.3 Billion
    CAGR (2023-2032) 8.85%
    Base Year for Estimation 2022
    Historic Period 2016-2021
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments
    Segments Covered By Type (Diagnostic Nuclear Medicine and Therapeutic Nuclear Medicine); By Application (Oncology, Neurology, Cardiology, and Other Applications); End-user (Hospital & Clinics and Diagnostic Center).
    Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape Cardinal Health, GE Healthcare, Lantheus Medical Imaging, Bayer AG, NTP Radioisotopes, JSC Isotope, NorthStar Medical Radioisotopes, Eckert & Ziegler, Braun Melsungen AG, Smith & Nephew plc, Other key players.
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
    Radiopharmaceutical Market
    Radiopharmaceutical Market
    Published date: Nov 2023
    add_shopping_cartBuy Now get_appDownload Sample
    keyboard_arrow_up
    • Cardinal Health
    • GE Healthcare
    • Lantheus Medical Imaging
    • Bayer AG Company Profile
    • NTP Radioisotopes
    • JSC Isotope
    • NorthStar Medical Radioisotopes
    • Eckert & Ziegler
    • B. Braun Melsungen AG Company Profile
    • Smith & Nephew plc
    • Other key players
  • settingsSettings

Related Reports

  • Radiotherapy Market
  • Radiofrequency Ablation Devices Market
  • Teleradiology Market
  • Radiotherapy-Induced Nausea and Vomiting Treatment Market
  • Pharmacovigilance Market
  • Pharmaceutical Excipients Market
  • Pharmacogenomics Market
  • Pharmaceutical Cartridges Market
  • Generic Pharmaceuticals Market
  • Biopharmaceutical CMO Market

Our Clients

  • Our Clients
Inquiry Before Buying

Radiopharmaceutical Market
  • 21356
  • Nov 2023
    • ★★★★★
      ★★★★★
    • (102)
add_shopping_cart Buy Now
Trusted by more than 17382 organizations globally
  • Client Logo
  • Client Logo
  • Client Logo
✖
Request a Sample Report
We'll get back to you as quickly as possible

Single User
$6,000
$3,999
USD / per unit
save 24%
Multi User
$8,000
$5,999
USD / per unit
save 28%
Corporate User
$10,000
$6,999
USD / per unit
save 32%
e-Access
Report Library Access
Data Set (Excel)
Print
Company Profile Library Access
Interactive Dashboard
Free Custumization No up to 10 hrs work up to 30 hrs work
Accessibility 1 User 2-5 User Unlimited
Analyst Support up to 20 hrs up to 40 hrs up to 50 hrs
Benefit Up to 20% off on next purchase Up to 25% off on next purchase Up to 30% off on next purchase
Buy Now ($ 3,999) Buy Now ($ 5,999) Buy Now ($ 6,999)
  • location_on420 Lexington Avenue, Suite 300 New York City, NY 10170,
    United States
  • phone+1 718 874 1545 (International)
  • phone+91 78878 22626 (Asia)
  • email[email protected]
  • Facebook Logo
  • Twitter Logo
  • LinkedIn Logo
Find Help
  • Contact Us
  • How to Order
Legal
  • Privacy Policy
  • Refund Policy
  • Frequently Asked Questions
  • Terms and Conditions
Explore
  • About Us
  • All Reports
  • All Sectors
  • Infographics
  • Statistics and Facts
  • Companies
Secured Payment Options
Secured Payment Options

© 2025 Market.Us. All Rights Reserved.