Radiopharmaceuticals Market Report | Global Forecast To 2029
Rapid increase in PET and SPECT scanning machines availability is likely to result towards growing demand for radio therapeutics and radio diagnostic events across the globe in the near future. Apart from this, growth in technological improvements with regards to PET scanning devices is expected to further surge the production sales of radiopharmaceuticals across the globe in the coming years. Most importantly, high level of accessibility and awareness has been driving the revenue growth of radiopharmaceuticals market.
A renowned research firm after a thoroughgoing analysis reached on to declare few facts and figures relating to radiopharmaceuticals market. The global market for radiopharmaceuticals is set to witness a healthy CAGR of 5% during the forecast period of 2019 – 2029. Increasing application of nuclear medicine in oncology will garner around half the market value share by the end of 2029. The profiled players that are operating in the radiopharmaceuticals market includes IBA Radiopharma Solutions, Nordion, Inc., GE Healthcare (General Electric Co.), Siemens Healthineers (Siemens AG), Eckert & Ziegler, Lantheus Holdings, Inc. and Advanced Accelerator Applications.
The profiled companies are expected to observe a noteworthy growth in the near future across the globe, which would be beneficial for the overall growth of radiopharmaceuticals market on a larger basis. Manufacturers with the profiled players are seen working keenly on strategic developments that is inclusive of expansion of the product portfolio, innovation as well as advancement of their existing and emerging products, which in due course will help in increasing the customer-base.
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IBA Radiopharma Solutions Signs Strategic Contract with AZI
The profiled companies as well as manufacturers can note the point that IBA has recently signed a contract with AZI (Arizona Isotopes Science Research Corp.) for the purpose of installing Cyclone® 70 systems in Arizona, USA. The notable point is that this project has been completely financed and the installation process has been worth around $20Mn. This installation will basically be beneficial for continuous manufacturing of isotopes utilized in cardiovascular diseases diagnosis as well as for various other critical illnesses. Customers must note the point that IBA Radiopharma Solutions has been the only supplier of radiopharmaceutical cyclotrons as it also holds experience and expertise for constructing the existing high energy system.
Heavy investments can be made in IBA Radiopharma Solutions as they can help in attaining the aim of delivering medical isotopes for the purpose of treatment as well as diagnosis of various critical illnesses worldwide.
BWX Technologies, Inc. Plans to Acquire Nordion Medical Isotopes Business of Sotera Health
The profiled companies as well as manufacturers can note the point that BWX Technologies, Inc. has been planning to acquire Nordion medical isotopes business of Sotera Health. This acquisition is for the purpose of de-risking and accelerating the entry of BWX Technologies, Inc. in the medical radioisotope market through addition of licensed infrastructure, two production centers as well as almost 150 highly experienced and trained and personnel. BWX Technologies, Inc. is working towards unique as well as traditional competencies with regards to radiochemical processing for the purpose of expanding high growth potential.
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Radiopharmaceuticals Market: Segmentation
- Nuclear Reactors
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
- Cancer Research Institute
- North America
- Latin America
- Western Europe
- Eastern Europe
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