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APAC Radiopharmaceuticals Market Worth $2.9 Billion By 2024: Grand View Research, Inc.

QIAGEN
Posted on: 26 Oct 16

SAN FRANCISCO, October 26, 2016 /PRNewswire/ --

The APAC radiopharmaceuticals/nuclear medicine market is expected to reach USD 2.9 billion by 2024, according to the new report by Grand View Research, Inc. Radiopharmaceuticals are widely used in the field of oncology, and cardiovascular diseases. Ongoing research and studies demonstrating positive results is widening the scope of radioisotope applications for the diagnosis and treatment of bone diseases, respiratory diseases, thyroid-related diseases, and conditions of the digestive tract. Along with these applications, the radioisotopes are largely used in radiopharmacology to study drug movement in lab subjects.

Gamma emitter Technetium-99m is the most commonly used radioisotope in radiopharmaceuticals. Other widely used radioisotopes include Fluorine-18, Indium-111, and Iodine-131. Numerous research studies are further expanding the application areas of radiopharmaceuticals in diagnostics as well as in therapeutics.

Adoption of PET as a diagnostic tool is rapidly increasing since it offers high accuracy over other diagnostic techniques. The accuracy in the diagnosis has a direct impact on decision-making and treatment monitoring process. PET is commonly integrated with X-ray and computed tomography to increase the accuracy. The growing demand for these diagnostic procedures is expected to fuel the market growth during the forecast period.

Currently available cancer treatment options, such as chemotherapy and radiation therapy, include drugs and radiations, which are non-target specific. Thus, these therapies have a major disadvantage of affecting the whole body or the organs surrounding the target site. Radioisotopes have an advantage over these techniques since they aid in targeting specifically the tumor without affecting the surrounding body parts. Thus, benefits associated with these diagnostic and treatment procedures is augmenting the demand for radiopharmaceuticals in disease treatment and diagnosis.

Browse full research report with TOC on "Asia Pacific Radiopharmaceuticals Market Analysis By Product (Diagnostics: SPECT, PET; Therapeutics: Alpha Emitters, Beta Emitters, Brachytherapy), By Type (Catheter, Doppler OCT, Handheld, Tabletop), By Application (Diagnostics: Cardiology, Neurology, Oncology, Thyroid, Lymphoma; Therapeutics: Thyroid, Bone Metastasis, Lymphoma, Endocrine Tumor) And Segment Forecasts to 2024" at: http://www.grandviewresearch.com/industry-analysis/asia-pacific-radiopharmaceuticals-market

Further key findings from the study suggest: 

The buyers of radiopharmaceutical include hospitals, physicians, diagnostic laboratories, research institutes and others. Hospitals form the biggest buyer groups owing to their high patient turnover and greater financing capabilities.

Therapeutic products such as Alpha Emitters, Beta Emitters and Brachytherapy are anticipated to exhibit lucrative growth. Emergence of new treatment options for thyroid and other diseases is expected to support the growth over the forecast period.

The key diagnostic application areas of radiopharmaceuticals formed the largest market in 2015. These applications are in cardiology, neurology, oncology, and thyroid. Advent of accurate diagnostic methods and high burden of disorders supported the growth of this segment.

Thailand in South East Asia and China are expected to dominate the APAC radiopharmaceutical market. Efforts undertaken by the UN and other local healthcare authorities in this region are expected to result in installation of more PET and SPECT systems, thereby driving the demand.

Key players of the industry include Nordion, Inc., Bayer AG, Mallinckrodt Public Limited company, GE Healthcare, Bracco Imaging S.P.A and government initiatives such as Institute of Radioisotopes and The Australian Nuclear Science and Technology Organization (ANSTO)

Browse related reports by Grand View Research: 

Anti-Obesity Therapeutics Market - http://www.grandviewresearch.com/industry-analysis/anti-obesity-therapeutics-market

Orthobiological Products Market - http://www.grandviewresearch.com/industry-analysis/orthobiological-products-market

Bone Morphogenetic Proteins (BMP) Market - http://www.grandviewresearch.com/industry-analysis/bone-morphogenetic-proteins-market

Biotechnology Reagents Market   - http://www.grandviewresearch.com/industry-analysis/biotechnology-reagent-market

Grand View Research has segmented the APAC radiopharmaceuticals market on the basis of product: 

APAC Radiopharmaceuticals Product Outlook (Revenue, USD Million, 2013 - 2024) DiagnosticsSPECT

TC-99m

TL-201

GA-67

I-123

Others

PET

F-18

RB-82

Others

TherapeuticsAlpha Emitters

RA-223

Beta Emitters

I-131

Y-90

SM-153

Re-186

Lu-117

Others

Brachytherapy

Cesium-131

Iodine-125

Palladium-103

Iridium-192

Others

Radiopharmaceuticals Regional Outlook (Revenue, USD Million, 2013 - 2024) South East Asia

Indonesia

Thailand

Laos

Myanmar

Philippines

Malaysia

Vietnam

Cambodia

Rest of Asia Pacific

Japan

China

India

Access research Insight - http://www.grandviewresearch.com/research-insights/apac-radiopharmaceuticals-market-insights-improved-healthcare-infrastructure-government-initiatives-key-drivers

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Read Our Blogs - http://www.grandviewresearch.com/blogs/healthcare

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com

Web: http://www.grandviewresearch.com  

For more information:
www.prnewswire.com/news-releases/apac-radiopharmaceuticals-market-worth-29-billion-by-2024-grand-view-research-inc-598646311.html

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 26/10/2016

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