Radiopharmaceuticals Market is Expected to Reach USD 12.2 Billion in 2018: Transparency Market Research
Albany, NY (PRWEB) July 11, 2013 -- According to a new market report published by Transparency Market Research “Radiopharmaceuticals Market – Global Industry Analysis, Size, Share, Trends and Forecast, 2012 – 2018,” the global market for radiopharmaceuticals was valued at approximately USD 3.8 billion in 2011 and is expected to reach USD 12.2 billion by 2018 at a CAGR of Transparency Market Research 18.3% from 2012 to 2018. North America led the global radiopharmaceuticals market with the highest market share as Canada continues to be the largest exporter of uranium and nuclear technology, forming the backbone of nuclear medicine and imaging studies.
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The market is expected to grow at a CAGR of 18.3% owing to tremendous research and technological developments occurring worldwide and the increasing awareness about nuclear medicine and molecular imaging procedures. The radiopharmaceuticals market is studied based on end-user groups, medical isotopes, applications and geography. Technetium (Tc-99m) is the most widely used radioisotope for medical applications. The majority of the application market for radiopharmaceuticals is constituted by the diagnosis market, and the therapeutic application segment is expected to grow at the fastest growth rate from 2012 to 2018.
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The global market for generators for radiopharmaceuticals was valued at over USD 200 million in 2011 and is expected to grow at a healthy CAGR from 2012 to 2018. The market currently consists only of Tc-99m generators; newer generators for molecules like Rubidium (Rb-82), Gallium (Ga-67) and Yttrium (Y-90) are expected to enter the market in the next few years. These are expected to exhibit high double digit growth rates during the forecast period.
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Key players in this market include Covidien Plc., Nordion Inc., Lantheus Medical Imaging and IBA Group, among others. The market is highly fragmented with leading global healthcare companies offering a wide range of diagnostic and therapeutic radiopharmaceuticals.
Radiopharmaceutical is also known as radioactive pharmaceuticals and is one of the growing segments in the healthcare vertical. It is a drug containing radioactive material into it. Radiopharmaceutical is a nuclear medication used as a tracer to diagnose and treat various cancer, tumors and other diseases. Many radiopharmaceutical use technetium-99m (Tc-99m) that has many useful properties of gamma-emitting tracer nuclide.
Radiopharmaceutical is majorly used to diagnose diseases such as- cancer, tumors, biliary track blockage, bone diseases, bone marrow diseases, brain diseases, colorectal disease, disorders of iron metabolism and absorption, heart disease, heart muscle damage (infarct), impaired flow of cerebrospinal fluid in brain, kidney diseases, liver diseases, lung diseases, parathyroid diseases; parathyroid cancer, pernicious anemia; improper absorption of vitamin B12 from intestines, red blood cell diseases, salivary gland diseases, spleen diseases, stomach and intestinal bleeding, stomach problems, tear duct blockage, thyroid diseases; thyroid cancer and urinary bladder diseases.
This may be given to the patient in a number of ways, for e.g. they may be given through mouth, through injections or it may be placed into the patient’s eye or into bladder. It is a small treatment, which includes use of simple substances containing radioactive isotopes. These radioactive agents are taken up in the cancerous area to destroy the affected tissues. It works effectively by targeting the areas in the body where the cancer is present. Individual are suggested to undertake Radiopharmaceuticals only by direct supervision of a doctor.
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Some of the top radiopharmaceutical companies in the healthcare market are WuXi AppTec, Inc., IsoTherapeutics Group, LLC, Positron Corporation, Medi Radiopharma LTD, BioNucleonics, Avid Radiopharmaceuticals, Cardinal Health, Eckert & Ziegler, Syncom, Hosokawa Micron Powder Systems, Mayo Clinic and others.
The report analyses the global scenario of Radiopharmaceuticals Market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the Radiopharmaceuticals Market size, production forecasts along with key factors driving and restraining the market.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1-518-618-1030, [email protected]
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