Radiopharmaceutical Market 2018 - Current and Future Plans

Pune, India, 28th August 2018: WiseGuyReports announced addition of new report, titled “Global Radiopharmaceutical Market Research Report - Forecast to 2023”.

Introduction
Radiopharmaceuticals are those radioisotopes when used for diagnosis or therapy, typically stimulate no physiological response from the patient. They are the unique medicinal formulations containing radioisotopes which can be used diagnosis and treatment of various chronic diseases. Radioisotopes play a very crucial part in the medical diagnostic procedures. In combination with imaging devices which record the gamma rays emitted from inside, healthcare professionals can study the dynamic processes taking place in various parts of the body.

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Increasing prevalence of chronic diseases which indicates the growing need for early diagnosis and treatment is one of the major factors responsible for the growth of the market. Moreover, rising expenditure in oncology and growing emphasis on cancer management has also accelerated the market growth owing to the need for new diagnostic and treatment options for common as well as rare cancers.

Both diagnostic & treatment characteristics of radiopharmaceutical driving the market growth. As per World Nuclear Association, in a quarter of the world population, about one person in 50 uses diagnostic nuclear medicine each year, and the frequency of therapy with radioisotopes is about one-tenth of this. Nuclear medicine uses radiation to provide diagnostic information about the functioning of a person's specific organs and used to treat some medical conditions, especially cancer, using radiation to weaken or destroy particular targeted cells.

Whereas certain factors such as the high cost of radiopharmaceuticals is restraining the growth of the market. As per National Research Universal (NRU), the cost of some nuclear medicine have increased by as much as 1,000 percent recently. Similarly, according to the research, the overall financial cost for the underutilized radiopharmaceutical materials due to canceled and rescheduled procedures for 142 patients was about 39,760 US dollar. The daily financial loss from these cancellations was between USD 560 to USD 1120

The global radiopharmaceuticals market is expected to reach to the market value of USD 10,473.88 million by 2023 from USD 5,841.22 million in 2016 and have a CAGR of 8.7% during the forecast period, 2017–2023.

On the basis of type, the market for Radiopharmaceutical is segmented into diagnostic type radiopharmaceuticals and therapeutic type radiopharmaceuticals By type, the market for diagnostic type radiopharmaceuticals accounted for the largest market share in 2017.
On the basis of type of tests, the market for Radiopharmaceutical is segmented into myocardial perfusion scan, lung scan, bone scan, white blood cell scan, gallium scan, renal nuclear medicine scan, parathyroid scans, hepatobiliary scans, cerebral perfusion scan and others. By type of tests, the market for intermediate Radiopharmaceutical accounted for the largest market share in 2017.
The global Radiopharmaceutical, by application, is segmented into oncology, cardiology, neurology, urology, and others. By application, the market for Oncology accounted for the largest market share in 2017.
The global Radiopharmaceutical, by route of administration, is segmented into oral, intravenous and other route of administration. The intravenous segment holds the largest market share in global Radiopharmaceutical, by route of administration.
On the basis of the route of administration, the global Radiopharmaceutical market is segmented into intravenous, intravitreal, and others. The intravitreal segment dominates the global Radiopharmaceutical market.
The global Radiopharmaceutical, on the basis of end-user, is segmented into hospitals, diagnostic centers, research institutes and others. Hospitals hold the largest market share in the global Radiopharmaceutical market.

Key Players
The key players for the Radiopharmaceutical market are Bayer AG, Cardinal Health Inc., General Electric Company, Lantheus Medical Imaging, Inc., Siemens, Avid Radiopharmaceuticals, IBA Dosimetry and Others.

Study Objectives
• To provide historical and forecast revenue of the market segments and sub-segments with respect to – regional markets and their countries
• To provide insights into factors influencing and affecting the market growth
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• To provide economic factors that influence the global Radiopharmaceutical market

Target Audience
• Pharmaceutical and Medical Device Industries
• Potential Investors
• Medical Research Institutes
• Key Executive (CEO and COO) and Strategy Growth Manager
• Research Companies

Key Findings
• The major market players in the global Radiopharmaceutical market are F Bayer AG, Cardinal Health Inc., General Electric Company, Lantheus Medical Imaging, Inc., Siemens, Avid Radiopharmaceuticals, IBA Dosimetry and Others.
• Siemens accounted for more than 13.2% share of the global Radiopharmaceutical Market
• Based on type of tests, Bone Scan segment accounts the largest market share which is expected to reach USD 2,513.68 million by 2023 from USD 1,470.34 million in 2016
• Based on application, the market for oncology is expected to reach USD 4,747.76 million by 2023
• Based on route of administration, intravenous segment was the largest segment in the year 2017 and is expected to reach USD 7,316.86 million by 2023 from USD 3,995.90 million in 2016
• On the basis of region, Asia pacific region is projected to be the fastest growing region, at a CAGR of 9.3% during the forecast period.

Table of Content: Key Points
1 Report Prologue
2 Executive Summary
3 Market Introduction
4 Research Methodology
5 Market Dynamics
6 Market Factor Analysis
7 Global Radiopharmaceutical Market, by Type
8 Global Radiopharmaceuticals Market, by Type of Test
…Continued

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