Radiopharmaceuticals Market is poised to expand at over 4.66% CAGR during the forecast period of 2021 and 2031

As per Future Market Insights (FMI), driven by rising cases of cancer and cardiovascular diseases, radiopharmaceutical market registered steady year-on-year growth at 4.90% CAGR in 2021. Increasing development of radioisotopes to curb the cases of cancer have propelled the market demand, topping a valuation of US$ 6,107.2 Mn in 2021. Rising cases of prostate and breast cancer, especially in developed countries including the U.S., the U.K., and Germany, have increased the application of radiopharmaceuticals.

Read Report – https://www.futuremarketinsights.com/reports/radiopharmaceuticals-market

Government initiatives and research activities undertaken to develop advanced radioisotopes for the treatment of cancer and to develop novel therapeutics will boost the demand. Also, introduction of novel technologies such as Positron Emission Technology and others in nuclear imaging systems will bolster growth.

However, due to the global shutdown witnessed in the FQ-20 in response to the COVID-19 outbreak, growth declined considerably. Suspended production of radioisotopes and disruption in the research activities delayed the deployment of projects in the healthcare sector.

Although, with increasing development activities and increasing commercialization of radiopharmaceuticals by industry giants have picked up the pace for the growth of market. Alongside this, increasing cases of cancer will accelerate the development of nuclear medicines in the field of radiopharmaceuticals.

Request for a Sample Copy of Report – https://www.futuremarketinsights.com/reports/sample/rep-gb-1992  

Key Takeaways from FMI’s Radiopharmaceuticals Market Study

• In terms of application, oncology will contribute over 50% of global market share owing to the rising prevalence of cancer across the globe.
• Cyclotrons are expected to be the primary source of radiopharmaceuticals, accounting for maximum market share
• Based on radioisotope type, technetium-99 will remain highly preferred radioisotope in the global radiopharmaceutical market
• The U.S. will retain its global dominance backed by the high cancer and cardiovascular cases rising in the country
• India will emerge as lucrative market owing to the favorable government initiatives promoting the radiopharmaceuticals market
• Germany and the U.K. are spearheading the growth of Europe market, which is projected to grow at over 9% CAGR

Ask from Market Research Expert – https://www.futuremarketinsights.com/ask-question/rep-gb-1992      

Competitive Landscape

Leading radiopharmaceuticals market players are focusing on expanding their customer base through strategic mergers and acquisition. Increasing research and development activities to develop advanced radioisotopes for the cancer treatment is another core strategy adopted by leading players.

Top 5 players including Siemens AG, GE Healthcare, Curium, Lantheus Holdings Inc., and Eckert & Ziegler are dominating the global radiopharmaceuticals market, contributing over 90% of revenue share.

Contact Information:

Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com