SEATTLE, Jan. 27, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global oncology radiopharmaceuticals market is estimated to be valued at US$ 3,462.8 million in 2021 and is expected to exhibit a CAGR of 6.0% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Oncology Radiopharmaceuticals Market:
A growing interest in field of radiopharmaceuticals leads to increase investment such as merger, acquisition, collaboration etc.by key market players, which is expected to drive the growth of the market over the forecast period. For instance, in October 2018, Novartis AG, a pharmaceutical company announced the acquisition of Endocyte. Endocyte is a biopharmaceutical company focused on developing targeted therapeutics for cancer treatment. This acquisition enabled Novartis to expand its expertise in radiopharmaceuticals and accelerate development of innovative radioligand technology for treating cancer.
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Key Market Takeaways:
The global oncology radiopharmaceuticals market is expected to exhibit a CAGR of 6.0% during the forecast period. Advantages of using radiopharmaceuticals such as effective and specific targeting of tumor cells, availability of various forms including free inorganic, conjugated to antibodies, small biomolecules etc. in the treatment of diseases like cancer is likely boost the demand and thereby, drive the growth of the market.
Among type, technetium-99m segment is expected to witness the largest market share in the global oncology radiopharmaceuticals market over the forecast period. Expanded use of technetium-99m is likely to fuel the segment growth. For instance, in June 2021, the U.S. Food and Drug Administration approved Technetium Tc 99m for pediatric cancer patients.
Among route of administration, oral segment is expected to account for largest market share in the global oncology radiopharmaceuticals market over the forecast period. As radiopharmaceuticals are taken orally in liquid form, ease of administration is likely to drive the segment growth.
Among application, diagnosis segment is expected to account for the largest market share in the global oncology radiopharmaceuticals market over the forecast period. Significant role of radiopharmaceuticals in diagnosis application is contributing to the segment growth.
Among end users, diagnostic centers segment is expected to hold dominant position in the market during the forecast period. Increase in awareness regarding the early diagnosis leads to surge in diagnostic rate and thereby, fuel the segment growth.
Among region, North America is expected to dominate the global oncology radiopharmaceuticals market over the forecast period. Presence of key market players such as Novartis AG, Bayer AG, and others drive the growth of the market.
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Competitive Landscape:
Key players operating in the global oncology radiopharmaceuticals market include Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health
Market Segmentation:
- Global Oncology Radiopharmaceutical Market, By Type:
- Radium-223 dichloride
- Sodium iodide I-131
- Lobenguane iodine-131
- Lutetium-177
- Yttrium-90
- Fludeoxyglucose F 18
- Gallium Citrate Ga 67
- Technetium-99m
- Others
- Global Oncology Radiopharmaceutical Market, By Route of Administration:
- Oral
- Intravenous
- Global Oncology Radiopharmaceutical Market, By Application:
- Treatment
- Diagnosis
- Global Oncology Radiopharmaceutical Market, By End User:
- Diagnostic Centers
- Hospitals and Clinics
- Cancer Research Institutes
- Global Oncology Radiopharmaceutical Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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