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Radiopharmaceuticals Market - Drivers and Trends by Technavio

Technavio Research
Posted on: 25 Aug 17

Technavio analysts forecast the global radiopharmaceuticals marketto grow at a CAGR of over 9% during the forecast period, according to their latest report.

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Technavio has published a new report on the global radiopharmaceuticals market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global radiopharmaceuticalsmarketfor 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

An interruption in the supply of radiopharmaceuticals produced in nuclear reactors led to debates regarding the production of these isotopes using other techniques. Cyclotrons allow the production of hospital-based radiopharmaceuticals. Approximately 80% of the isotopes produced in cyclotrons can be used for medical applications. Also, cyclotrons offer various advantages such as safety, low operating costs, and low waste generation.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global radiopharmaceuticals market:

  • Rising burden of the neurological disorders
  • Growing cancer cases and rising investment in oncology market
  • Minimal side effects of the radiopharmaceuticals as compared with its potential benefits

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Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Rising burden of the neurological disorders

Neurological disorders are diseases that are related to the brain, spine, and the nerves. There are over 600 diseases of the nervous system, some of the most common diseases are epilepsy, Parkinson's disease, brain tumors, and stroke; while some of the less familiar ones include frontotemporal dementia.

Sapna Jha, a lead infectious and rare diseases research analyst at Technavio, says, “The two of the imaging instruments such as SPECT and PET use radiopharmaceuticals to diagnose the brain disorders. The management of several neurological disorders such as schizophrenia, epilepsy, Alzheimer's, and head trauma may be benefitted from the radiopharmaceutical agents.”

Growing cancer cases and rising investment in oncology market

The increasing prevalence of cancers across the globe has turned out to be one of the major factors leading to the rising investment in various diagnostic and therapeutic approaches for the disease. Globally, cancer leads to high mortality and morbidity. In 2015, approximately 8.5-9 million people died due to cancer worldwide.

“The growing cases of cancer has led to a huge investment in the oncology segment; however, the developing countries such as China and India demand higher investment in the oncology segment owing to their large patient pool. Although the rising healthcare investment in the developing countries is expected to boost the growth of cancer treatment market in the region, the high cost of treatment still hinders the market growth in these countries,” adds Sapna.

Minimal side effects of the radiopharmaceuticals as compared with its potential benefits

Radiopharmaceuticals have fewer side effects as compared with its potential benefits. This is one of the major factors for the recommendation of the drugs for various diagnostic and treatment purposes. Presently, there are no known long-term side effects of low-dose exposure of radiopharmaceuticals. Some health hazards may be caused due to radiopharmaceuticals such as soreness, bleeding, and swelling at the site of injection, but these are quite rarely observed.

The low rates of adverse effects of radiopharmaceuticals are mainly due to a small amount of the drug used during the various process. Also, the radiopharmaceuticals are used for their specific localized action produced due to the physiologic mechanism and not for any pharmacological action, and hence pharmacologic action is not anticipated from it.

Top vendors:

  • Bayer
  • Cardinal Health
  • GE Healthcare
  • Lantheus Medical Imaging

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170825005014/en/

Business Wire
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Last updated on: 25/08/2017

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