Radiopharmaceutical Market to Report a CAGR of 5.4% Between 2017 and 2024

Radiopharmaceutical Market: Scope and Trends

This report on the radiopharmaceutical market analyzes the current and future scenario of the global market. Increase in incidence of various diseases, development of new sources for radioisotope production, and rise in demand for nuclear medicine are boosting the radiopharmaceutical market. Increase in incidence of cancer and cardiovascular diseases, growth in awareness about effective use of radiopharmaceuticals, and rise in preference for SPECT and PET scans are some of the factors expected to drive the growth of the global radiopharmaceutical market during the forecast period.

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The radiopharmaceutical market report comprises an elaborate executive summary, which includes market snapshot that provides information about various segments. It also provides information and data analysis of the global market with respect to the segments based on radioisotopes, source, end-user, and geography. A detailed qualitative analysis of drivers and restraints, and opportunities has been provided in the market overview section. Additionally, the section comprises Porters Five Forces Analysis to help understand the competitive landscape in the market. This section also provides market attractiveness analysis in terms of geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global radiopharmaceutical market.

The healthcare industry and medical professionals have played a huge role in enhancing the growth prospects of the market vendors. The distributors of radioactive drugs have also helped market players in reaching to wider audiences and expanding their consumer base. On account of the lucrative opportunities that float in the global radiopharmaceuticals market, several new names have made their way into the market. The new market vendors are expected to capitalise on tying up with distributors in order to stand better chances of growth.

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The global market for radiopharmaceuticals is expected to grow at a CAGR of 5.4% over the period between 2017 and 2024, finds Transparency Market Research (TMR). The global market for radiopharmaceuticals is prognosticated to accumulate revenues worth US$7,430.8 million by 2024, rising up from a value of US$5,145.1 million in 2017. On the basis of end user, hospitals have emerged as the largest consumer of radiopharmaceuticals. Based on geography, the demand for radiopharmaceuticals has been the highest in North America due to the presence of excellent research facilities in the region.

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