Global Radiopharmaceuticals Market Size study, by Type, by Application, by Radioisotope, by End User and Regional Forecasts 2022-2032

Description

Global Radiopharmaceuticals Market is valued approximately at USD 7.9 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 10.6% over the forecast period 2024-2032. Radiopharmaceuticals are drugs containing radioisotopes, used primarily for diagnostic imaging, functional examination, and the treatment of various diseases, especially in the realm of nuclear medicine. These drugs allow healthcare professionals to visualize and evaluate different physiological processes within the body, thereby facilitating accurate diagnosis and effective treatment. The surge in demand for radiopharmaceuticals is driven by technological advancements in imaging modalities such as PET and SPECT, the growing prevalence of chronic diseases, particularly cancer, and the increasing awareness among healthcare providers about the benefits of radiation therapy methods.

The increasing prevalence of chronic diseases is a major driver for the radiopharmaceuticals market. For instance, according to the Centers for Disease Control and Prevention (CDC), approximately 129 million Americans are projected to have at least one chronic disease by 2024. Moreover, the World Nuclear Association reported in 2024 that over 50 million nuclear medicine procedures are performed annually, with a rising demand for radioisotopes. This burgeoning need for nuclear medicine procedures underscores the significance of radiopharmaceuticals in modern healthcare, further propelling market growth.

Additionally, significant investments in healthcare infrastructure, particularly nuclear medicine units equipped with advanced imaging technology, have created opportunities for market expansion. The therapeutic applications of radiopharmaceuticals, especially in cancer treatment through targeted radionuclide therapy, are expanding, driving innovation and investment in the sector. However, the high cost of development, production, and distribution of radiopharmaceuticals, coupled with stringent regulatory requirements and the short half-life of many radioisotopes, poses significant challenges to market growth. Despite these hurdles, the development of novel radiopharmaceuticals tailored to specific patient populations and the increasing adoption of precision medicine offer substantial growth opportunities.

North America dominate the radiopharmaceuticals market in 2023, owing to its advanced healthcare infrastructure, well-established pharmaceutical industry, and supportive regulatory policies. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period, driven by growing investments in healthcare infrastructure, rising prevalence of chronic diseases, and increasing awareness about the benefits of radiopharmaceuticals.

Major market players included in this report are:

Novartis AG
Telix Pharmaceuticals Limited
Curium Pharmaceuticals
Lantheus Holdings, Inc.
GE Healthcare
Cardinal Health, Inc.
Bayer AG
Bracco Imaging S.p.A.
Jubilant Pharma Limited
Advanced Accelerator Applications S.A.
Actinium Pharmaceuticals, Inc.
Eckert & Ziegler Group
NorthStar Medical Radioisotopes, LLC
Nordion (Canada) Inc.
PharmaLogic Holdings Corp.

The detailed segments and sub-segment of the market are explained below:

By Type:

Diagnostic
Therapeutic

By Application:

Cancer
Cardiology
Others

By Radioisotope:

Technetium 99m
Gallium 68
Iodine I
Fluorine 18
Copper 64
Strontium 89
Yttrium 90
Radium 223
Actinium 225
Lutetium 177
Copper 67
Terbium 161
Zirconium 89
Others

By End User:

Hospitals and Clinics
Medical Imaging Centers
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Radiopharmaceuticals Market Executive Summary

1.1. Global Radiopharmaceuticals Market Size & Forecast (2022- 2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
- 1.3.3. By Radioisotope
- 1.3.4. By End User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Radiopharmaceuticals Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Radiopharmaceuticals Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Prevalence of Chronic Diseases
- 3.1.2. Technological Advancements in Imaging Modalities
- 3.1.3. Investments in Healthcare Infrastructure
3.2. Market Challenges
- 3.2.1. High Development and Production Costs
- 3.2.2. Stringent Regulatory Requirements
3.3. Market Opportunities
- 3.3.1. Novel Radiopharmaceuticals for Precision Medicine
- 3.3.2. Public-Private Partnerships for R&D
- 3.3.3. Digital Health Technologies for Personalized Travel Health Advisories

Chapter 4. Global Radiopharmaceuticals Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Radiopharmaceuticals Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Radiopharmaceuticals Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Diagnostic
- 5.2.2. Therapeutic

Chapter 6. Global Radiopharmaceuticals Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Radiopharmaceuticals Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Cancer
- 6.2.2. Cardiology
- 6.2.3. Others

Chapter 7. Global Radiopharmaceuticals Market Size & Forecasts by Radioisotope 2022-2032

7.1. Segment Dashboard
7.2. Global Radiopharmaceuticals Market: Radioisotope Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Technetium 99m
- 7.2.2. Gallium 68
- 7.2.3. Iodine I
- 7.2.4. Fluorine 18
- 7.2.5. Copper 64
- 7.2.6. Strontium 89
- 7.2.7. Yttrium 90
- 7.2.8. Radium 223
- 7.2.9. Actinium 225
- 7.2.10. Lutetium 177
- 7.2.11. Copper 67
- 7.2.12. Terbium 161
- 7.2.13. Zirconium 89
- 7.2.14. Others

Chapter 8. Global Radiopharmaceuticals Market Size & Forecasts by End User 2022-2032

8.1. Segment Dashboard
8.2. Global Radiopharmaceuticals Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Hospitals and Clinics
- 8.2.2. Medical Imaging Centers
- 8.2.3. Others

Chapter 9. Global Radiopharmaceuticals Market Size & Forecasts by Region 2022-2032

9.1. North America Radiopharmaceuticals Market
- 9.1.1. U.S. Radiopharmaceuticals Market
  - 9.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Application breakdown size & forecasts, 2022-2032
  - 9.1.1.3. Radioisotope breakdown size & forecasts, 2022-2032
  - 9.1.1.4. End User breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Radiopharmaceuticals Market
9.2. Europe Radiopharmaceuticals Market
- 9.2.1. U.K. Radiopharmaceuticals Market
  - 9.2.1.1. Type breakdown size & forecasts, 2022-2032
  - 9.2.1.2. Application breakdown size & forecasts, 2022-2032
  - 9.2.1.3. Radioisotope breakdown size & forecasts, 2022-2032
  - 9.2.1.4. End User breakdown size & forecasts, 2022-2032
- 9.2.2. Germany Radiopharmaceuticals Market
- 9.2.3. France Radiopharmaceuticals Market
- 9.2.4. Spain Radiopharmaceuticals Market
- 9.2.5. Italy Radiopharmaceuticals Market
- 9.2.6. Rest of Europe Radiopharmaceuticals Market
9.3. Asia-Pacific Radiopharmaceuticals Market
- 9.3.1. China Radiopharmaceuticals Market
- 9.3.2. India Radiopharmaceuticals Market
- 9.3.3. Japan Radiopharmaceuticals Market
- 9.3.4. Australia Radiopharmaceuticals Market
- 9.3.5. South Korea Radiopharmaceuticals Market
- 9.3.6. Rest of Asia Pacific Radiopharmaceuticals Market
9.4. Latin America Radiopharmaceuticals Market
- 9.4.1. Brazil Radiopharmaceuticals Market
- 9.4.2. Mexico Radiopharmaceuticals Market
- 9.4.3. Rest of Latin America Radiopharmaceuticals Market
9.5. Middle East & Africa Radiopharmaceuticals Market
- 9.5.1. Saudi Arabia Radiopharmaceuticals Market
- 9.5.2. South Africa Radiopharmaceuticals Market
- 9.5.3. Rest of Middle East & Africa Radiopharmaceuticals Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. Novartis AG
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Telix Pharmaceuticals Limited
- 10.3.3. Curium Pharmaceuticals
- 10.3.4. Lantheus Holdings, Inc.
- 10.3.5. GE Healthcare
- 10.3.6. Cardinal Health, Inc.
- 10.3.7. Bayer AG
- 10.3.8. Bracco Imaging S.p.A.
- 10.3.9. Jubilant Pharma Limited
- 10.3.10. Advanced Accelerator Applications S.A.
- 10.3.11. Actinium Pharmaceuticals, Inc.
- 10.3.12. Eckert & Ziegler Group
- 10.3.13. NorthStar Medical Radioisotopes, LLC
- 10.3.14. Nordion (Canada) Inc.
- 10.3.15. PharmaLogic Holdings Corp.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes