Radiopharmaceuticals Market to be driven at 18.3% CAGR by Increasing Incidence of Cancer: Transparency Market Research

Albany – NY, Oct. 20, 2015 (GLOBE NEWSWIRE) — Transparency Market Research has announced the release of a new market research report examining the global radiopharmaceuticals market. The report analyzes historical statistics concerning the market and dominant market trends affecting the dynamics and future alteration of the market. It breaks down the market by various criteria for a comprehensive understanding of the market and profiles major companies operating in the global radiopharmaceuticals market to provide an understanding of the competitive landscape of the market.The report, titled “Radiopharmaceuticals Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018“, puts the market statistics regarding radiopharmaceuticals under the microscope in a variety of ways. It analyzes the supply chain analysis of the global radiopharmaceuticals market to understand the dynamics of the market and examines the impact analysis of the various major factors that govern the market’s development both positively and negatively.

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Thus, the report will help clients identify potential barriers and formulate market strategies keeping those in mind, indicate emerging and monopoly markets to invest in, and help conceptualize the development of total solutions.The report identifies the growing incidence of cancer and increasing preference for extremely specific remedies targeted at particular conditions as the major growth drivers for the global radiopharmaceuticals market. Cancer therapeutics involving radiopharmaceuticals are a major trend expected to propel the growth of the market thanks to the increased ease it offers to the patient, particularly in contrast with the conventional chemotherapy. In addition, increasing use of radiopharmaceuticals in molecular imaging is also helping the global radiopharmaceuticals market grow at a healthy rate.

The global radiopharmaceuticals market was worth US$3.8 billion in 2011 and is expected to be growing at a stupendous CAGR of 18.3% to reach a value of US$12.2 billion by 2018.This high growth rate is calculated taking into account various market restraints such as the stringent regulatory frameworks that regulate the storage and usage of radiopharmaceuticals all over the world, a global shortage of supply, and the strengthening threat from substitute treatments.The report categorizes the global radiopharmaceuticals market on the basis of the end user applying the radiopharmaceuticals, the application of the radiopharmaceuticals, and the geographical distribution of the global market. It also categorizes the radiopharmaceutical generator market on the basis of the radioactive isotope used in it.Mo-99/Tc-99m generators took up an overwhelmingly dominant share of the global radiopharmaceuticals market, leading other segments such as Sr-82/Rb-82 generators, Ge-68/Ga-67, 68 generators, Sr-90/Y-90 generators, and W-188/Re-188 generators.

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“The technetium isotope Tc-99m has established marketing channels in the global market but the other segments are expected to make heavy inroads into the dominance of Tc-99m generators in the forecast period. In fact, all other segments of generators are expected to grow at double-digit CAGRs during the forecast period,” a TMR analyst said.

According to application, the global radiopharmaceuticals market is divided into the use of radiopharmaceuticals for diagnosis, which includes the techniques of SPECT and PET and has applications in oncology, cardiovascular disorders, and others such as neurology and gastrointestinal disorders; and the use of radiopharmaceuticals for therapy, inclusive of the various isotopes used in cancer treatment and the treatments used in other types of disorders such as cardiovascular and neurological. Oncology dominates the global market for radiopharmaceuticals comprehensively.

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