Radiopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Product Type, Application, and End User

Radiopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Product Type, Application, and End User

  • August 2021 •
  • 220 pages •
  • Report ID: 6154064 •
  • Format: PDF
The radiopharmaceuticals market is projected to reach US$ 13,818.17 million by 2028 from US$ 7,550.74 million in 2021; it is expected to grow at a CAGR of 9.0% from 2021 to 2028.

The growth of the market is primarily attributed to the rising prevalence of chronic diseases, suitability of alpha radioimmunotherapy in targeted cancer treatment, and advancements in nuclear imaging techniques.Moreover, the use of nuclear medicines for personalized treatment is expected to foster the market growth during the forecast period.

However, the short shelf-life of radiopharmaceuticals and the availability of substitutes hinder the market growth.The medical practices worldwide continue to adapt to the challenges of COVID-19.

On the one hand, healthcare professionals are responding to the pandemic, and on the other, it ensures minimal disruption to non-COVID-related procedures and hospitalizations.Hospitals and other healthcare facilities across the world are forced to postpone elective procedures, such as surgeries.

Most nonurgent therapies have been postponed.

The global radiopharmaceuticals market is segmented on the basis of type, product type, application, and end user.Based on type, the market is bifurcated into diagnostic nuclear medicine and therapeutic nuclear medicine.

The diagnostic nuclear medicine segment is holding a larger share of the market and is anticipated to register a higher CAGR during 2021-2028.By product type, the market is segmented into Technetium-99m, Thallium-201, Gallium-67, Iodine-131, Copper-64, and other.

The Technetium-99m segment held the largest share of the market in 2021, whereas the gallium-67 segment is anticipated to register the highest CAGR during the forecast period.By application, the market is segmented into oncology, cardiology, neurology, and others.

The oncology segment is holding the largest market. However, the cardiology segment is estimated to register the highest CAGR during the forecast period. By end user, the market is segmented into hospitals, imaging centers, academic and research centers, and others. The hospitals segment is holding the largest market share. However, the imaging centers segment is estimated to register the highest CAGR during the forecast period.

The World Health Organization (WHO), American Society of Nuclear Cardiology, and American College of Radiology are a few primary and secondary sources referred to while preparing the report on the radiopharmaceuticals market.
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