Global Market for Radiopharmaceuticals to Reach $6.4 Billion in 2019; North American Market Surging with 9.2% CAGR

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According to new report from BCC Research, the global market for radiopharmaceuticals is forecast to expand through 2019 at a projected compound annual growth rate (CAGR) of 8%, approaching $6.4 billion.

Global Market for Radiopharmaceuticals
Global Market for Radiopharmaceuticals to Reach $6.4 Billion in 2019

BCC Research (http://www.bccresearch.com) reveals in its new report, RADIOPHARMACEUTICALS: TECHNOLOGIES AND GLOBAL MARKETS, the global market for radiopharmaceuticals is forecast to expand through 2019 at a projected compound annual growth rate (CAGR) of 8%, approaching $6.4 billion.

The global radiopharmaceuticals market is driven mostly by an aging population and cardiovascular, oncological and neurological disorders. Most of the radiopharmaceuticals are used in nuclear imaging, as it offers a non-invasive, stationary and dynamic image of the body’s organs. Radiopharmaceuticals are now a crucial part of the healthcare industry, due to their ability to identify various disease processes much earlier than other diagnostic tests.

U.S. FDA approval of new radiopharmaceuticals coupled with the improved supply of technetium-99 has expanded the market between 2012 and 2014. The North American market is the market leader and anticipated to grow from $2.1 billion in 2013 to $3.8 billion in 2019 at an estimated CAGR of 9.2%. This is followed by the European market segment. With a CAGR of 6.8%, the market is predicted to reach $1.6 billion by 2019. Emerging markets are increasing at a CAGR of 5.8%, and are foreseen to reach $762 million by the end of 2014 and $1 billion by 2019. Increasing awareness coupled with the rising diagnostic rates is the major growth factor for this market.

“R&D spending along with increasing competition, patent expiries and new technologies are directing this market,” says BCC Research pharmaceuticals analyst Shalini S. Dewan. “Advancements and new product launches have influenced market growth in the near future.”

RADIOPHARMACEUTICALS: TECHNOLOGIES AND GLOBAL MARKETS provides an in-depth analysis of the present and future strategies within the radiopharmaceuticals market. Revenues are broken down by the region. Sales figures are given for 2012 and 2013, estimated for 2014, and projected for 2019.

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(AT)bccresearch.com.

About BCC

BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(AT)bccresearch.com.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49-2 Walnut Park, Wellesley, MA 02481, Telephone: (+1) 781-489-7301; Email: editor(AT)bccresearch.com as the source and publisher. Thank you.

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Steven Cumming
BCC Research
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