Radiopharmaceuticals Market to Surpass USD 10 Billion by 2018

Release Date: 28-Apr-2014

The global market for radiopharmaceuticals was estimated to be valued at approximately USD 5.3 billion in 2013. Owing to factors like the increasing adoption rates of PET and SPECT scanners, alpha radioimmunotherapy based targeted cancer treatment, and ready availability of radiopharmaceutical from cyclotrons, coupled with significant developments in research and technology, this market is expected to record a CAGR of close to 15% to reach approximately USD 10.6 billion by 2018.

The global radiopharmaceuticals market is dominated by the North American region followed by the European region. Owing to the production of Mo-99 by the Canada NRU reactor and continuous research activities in different clinical institutes such as National Cancer Institute and Avid Radiopharmaceuticals, the US market is headed for a strong growth in the future. Additionally, Canada is the major destination in the USA which exports significant volumes of uranium and nuclear technology, which forms the major feedstock for nuclear medicine and imaging studies. Other markets in the Asia-Pacific region are also expected to show a significant growth in the future, with China, India, Japan, South Korea, Brazil, and South Africa being the most promising and potential regions. The major driver of growth in these countries is the domestic production of isotopes by reactors coupled with supportive government initiatives.

The diagnostic radiopharmaceuticals market accounts for approximately 90% of the global radiopharmaceuticals market and is dominated by the SPECT segment. Most important radioisotopes in the SPECT diagnostic market include Tc-99m, Tl- 201, Ga-67, and I-123. Of these, Tc-99m accounts for the maximum share in the segment pie. In the PET market, the major radioisotopes are F-18, and Rb-82, with the former having a dominant share. In addition to the growth in the most popular isotopes like Tc-99m and F-18, there is also a significant growth being recorded in the Tl-201 and Rb-82 isotopes segment.


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