According to a recent market research report released by Transparency Market Research, the global radiopharmaceuticals market is estimated to witness rapid expansion at a CAGR of 18.30% during the period between 2012 and 2018. The report, titled "Radiopharmaceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", projects the global radiopharmaceuticals market to reach a valuation of US$12.2 bn by 2018. The overall market was worth US$3.8 bn in 2011.
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The report points out that the growing preference for disease-specific therapy, especially radiopharmaceutical-based cancer therapy, will boost the global radiopharmaceuticals market. Increasing awareness about accurate diagnosis, coupled with expanding molecular imaging applications, will push the growth of the market during the forecast horizon. However, the report mentions that strict regulatory guidelines for production, storage, and usage of radiopharmaceuticals will hamper the growth of the global radiopharmaceuticals market. Worldwide supply shortages, along with price sensitivity and the presence of competitive alternatives, will also negatively impact the overall market. The report states that the increasing demand for accurate diagnosis and treatment, particularly in emerging markets, and the rise of radiopharmaceutical-based personalized therapy will create new growth opportunities for the global radiopharmaceuticals market.
On the basis of type of radioactive isotope, the report segments the global radiopharmaceuticals market into Mo-99/Tc-99m generators, Sr-82/Rb-82 generators, Ge-68/Ga-67,68 generators, W-188/Re-188 generators, and Sr-90/Y-90 generators. So far, Mo-99/Tc-99m generators have dominated the overall market owing to their established marketing channels. However, during the forecast horizon, it is expected that other segments of the market will witness growth at double-digit CAGRs.
Depending on application, the report categorizes the global radiopharmaceuticals market into diagnosis and therapy. The usage of radiopharmaceuticals for diagnosis includes the techniques of SPECT and PET, wherein radiopharmaceuticals are applied for the diagnosis of cardiovascular disorders, cancer, neurological disorders, thyroid diseases, and gastrointestinal disorders. The usage of radiopharmaceuticals for therapy includes various isotopes used in oncology, neurology, and cardiology. Oncology dominates the overall market for radiopharmaceuticals. While treating cancer, these radioactive agents target the cancerous areas in the body to destroy the affected tissues.
The report studies the global radiopharmaceuticals market with data related to four key regional segments: Europe, North America, Asia Pacific, and Rest of the World. The demand for radiopharmaceuticals from the Asia Pacific region will be significantly high in the near future, with a growing number of patients suffering from cancer in the region.
The report profiles some of the key players in the global radiopharmaceuticals market, such as Covidien Plc, Cardinal Health Inc., IBA Group, GE Healthcare, Monrol Nuclear Products Inc., Lantheus Medical Imaging, Nordion Inc., Polatom, NTP Radioisotopes Ltd., Positron Corporation, and Siemens Healthcare. The report provides insightful information about the key players, including their business strategies, product portfolio, financial overview, and recent developments.
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