Market Research Future published a half cooked research report on “Global Radio pharmaceutical Market Research Report- Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Global Radio pharmaceutical Information, by types (Diagnostic and Therapeutic Radio pharmaceuticals) by application (cardiology, thyroid, oncology, neurology, others) by end users (hospitals, research centers, clinics)- Forecast to 2022
Radio pharmaceuticals or Nuclear medicines are medicinal formulations containing radioisotopes which are safe for administration in humans for diagnosis or for therapy. These organic molecules carry the radio isotopes to tissues, specific organs and cells as the properties of radioisotopes are specific. Among the several applications of radioisotopes, medical applications were considered to be of the highest priority.
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Radio pharmaceuticals are used in diagnosis and treatment of cancer. Radio pharmaceuticals can provide useful information about the function and molecular biology of cancer by measuring several of the causal factors. In future, specific roles of radio pharmaceuticals for diagnosis in oncology may include the lymphatic system, development of new blood vessels and monitoring gene therapy.
According to a recent study report published by the Market Research Future, The global market for Radio pharmaceutical is estimated to grow tremendously by 2022, registering a decent rate of CAGR during the forecast period 2017 – 2022.
Radio pharmaceuticals market Growth is augmented by the increasing importance of radio tracers in the treatment of cancer and cardiovascular diseases. Moreover, with the emergence of developed methods for employing radioisotopes to impede the maturation of malignant tumors, cells, and tissues by the research institutes the use of radio pharmaceuticals in cancer medications has surged. However, the factors such as the brief life of radio pharmaceuticals, supply shortages, logistical difficulties, and limited number of trained medical personnel without specified guidelines available for their use in commercial-scale drug production may hamper the growth of the global market of Radio pharmaceuticals, states the MRFR Research Analyst while sharing the market insights and commenting upon this deep diving study report, presented through more than 100 market data tables and figures, widely spread over 80 pages.
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Radio pharmaceutical Global Market – Key Players
A number of producers and suppliers have developed capacities for radio pharmaceuticals production and its distribution (transport). Operating on international or regional level they are manufacturing products regularly to meet the demands. The assured availability of radio pharmaceuticals has greatly contributed to the growth of nuclear medicine practices in various countries, in addition to ensuring price stability of radio pharmaceuticals imported from large manufacturers. Production and distribution of radio pharmaceuticals has also helped to reduce the number of radioactive consignments that need to be transported across international borders.
MRFR analysis comprises of the study of following players operating in the market that empowers us to acquaint with their trends. Some of the key players in this market are: GE Healthcare (UK), Merck & Co., Inc. (US), Jubilant Pharma. LLC (India), Bracco Imaging S.p.A (US), Eczacibasi-Monrol (Turkey), Bayer Pharma AG (Germany), IBA Molecular Imaging (United States), Mallinckrodt Pharmaceuticals (US) and others.
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Radio pharmaceutical Global Market – Segments:
The Global Radio pharmaceutical market has been segmented in to 3 key dynamics for an easy grasp.
- Segmentation by Types includes Diagnostic and Therapeutic Radio pharmaceuticals
- Segmentation by Applications consists of cardiology, thyroid, oncology, neurology, others.
- Segmentation by the End users includes Hospitals, Clinics, research centers and others.
Diagnostics segment accounted for the largest market share of radiopharmaceuticals in the year 2014. Furthermore, in diagnostics segment SPECT captured the largest share of radiopharmaceuticals market. In the application segment cardiology accounted largest share of the nuclear medicine market in the year 2014.
Radio pharmaceutical Global Market – Synopsis & Scenario
The conventional chemotherapy methods being replaced by more convenient therapeutic radiopharmaceuticals for oncology and cancer treatment may open new avenues in the radiopharmaceuticals market. Additionally, radiopharmaceuticals not only help physicians during diagnosis, but also work as a convenient and safer alternative for patients as compared to X-Rays and other external radiation imaging devices.
The overall impact of recent trends and changes in health care economics and operational viability of hospitals will result in nuclear medicine practitioners looking to the centralized radio pharmacies to meet a larger portion of their radiopharmaceutical needs, as well as to value added services, such as education and research and development.
Radio pharmaceutical Market – Regional Analysis
Globally North America is the largest market for radio pharmaceutical. The North American market for radio pharmaceutical is expected to grow at a decent rate of CAGR of and is expected to value millions of USD by the end of the forecasted period. The North American radio pharmaceutical market is growing at a significant pace because of increasing preference of targeted cancer therapy because of which the radio pharmaceuticals are growing in demand.
Europe is the second-largest market for radio pharmaceutical which is expected to grow at a significant rate of CAGR. Whereas Asia pacific is expected to be a fastest growing market and is expected to grow at a rapid rate.
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