The Global Radiopharmaceuticals Market is expected to reach USD 9.49 billion by 2024 from USD 4.87 billion in 2016, at a CAGR of 8.7% in the forecast period 2017 to 2024.
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The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Radiopharmaceuticals are a group of pharmaceuticals drug which have radioactivity. It can be used as diagnostic and therapeutic agent.
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Radiopharmaceuticals are unique medicinal formulations containing radioisotopes which are used in major clinical area for diagnosis or therapy. The procedures and facilities for the production, use, and storage of radiopharmaceuticals are subject to licensing by national or regional authorities.
This licensing includes compliance both with governing radioactive materials and with those regulations governing pharmaceutical preparations. Additional regulations may apply for issues such as transportation or dispensing of radiopharmaceuticals.
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The global market is segmented based on type, procedural volumes, application, sources, end-user, and geography.
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On the basis of type, the global radiopharmaceuticals market is sub-segmented into diagnostic and therapeutic radiopharmaceuticals. In 2017, diagnostic radiopharmaceuticals segment dominate the market and is expected to grow at the highest in the forecast period.
This is due to the production of MO-99 in the U.S., FDA approvals of radiopharmaceuticals, initiatives of International Atomic Energy Agency (IAEA), new irradiation facility in Germany, installation of PET scanners in India, andgovernment investments in Rest of Asia-Pacific.
On the basis of procedural volumes, the global radiopharmaceuticals market is sub-segmented into diagnostic procedures and therapeutic procedures. Diagnostic procedures are further sub-segmented into single-photon emission computed tomography (SPECT) radiopharmaceuticals and positron emission tomography (PET) radiopharmaceuticals.
Therapeutic procedures are further sub-segmented into beta emitters, alpha emitters and brachy therapy.
On the basis of application, the global radiopharmaceuticals market is sub-segmented into diagnostic application and therapeutic application. Diagnostic application are further sub-segmented into single-photon emission computed tomography (SPECT) and positron emission tomography (PET).
Single-photon emission computed tomography (SPECT) includes cardiology, lymphoma, thyroid, neurology and others. Positron emission tomography (PET) includes oncology, cardiology, neurology and others.
Therapeutic application is further sub-segmented into thyroid, bone metastasis, lymphoma, endocrine tumours and others.
On the basis of sources, the global radiopharmaceuticals market is sub-segmented into nuclear reactors and cyclotrons.
On the basis of end user, the global radiopharmaceuticals market is sub-segmented into hospitals, ambulatory surgical centers, diagnostic centers, cancer research institutes and others. In 2017, hospital segment dominate the market with the highest market share due to accessibility of highly skilled medical practitioners in the radiology departments of hospitals.
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Major Market Competitors:
Some of the major players operating in the global radiopharmaceuticals market are Cardinal Health Inc., MallinckrodtPlc., GE Healthcare, Lantheus Medical Imaging Inc., Bayer AG, Bracco Imaging SpA, Eczacibasi-Monrol Nuclear Products, Nordion Inc., Advanced Accelerator Applications S.A., IBA Molecular Imaging, CovidienPlc, Positron Corporation, NTP Radioisotopes Pty. Ltd., Advanced Medical Isotope Corporation, Avid Radiopharmaceuticals, Jubilant Pharma, Actinium Pharmaceuticals Inc., AREVA Meds,Immunomedics Inc., Merck& Co., Inc., Navidea, PETNET Solutions Inc., Eckert & Ziegler, Siemens Healthcare, and Positron Corporation among others.
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