In a recently published report, Radiopharmaceuticals Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Radiopharmaceuticals Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Radiopharmaceuticals Market valued approximately USD 5.72 billion in 2018 is anticipated to grow with a healthy growth rate of more than 5.60% over the forecast period 2019-2026. The Radiopharmaceuticals Market is continuously growing in the global scenario at significant pace. Radiopharmaceuticals are a group of pharmaceuticals drug which have radioactivity. It can be used as diagnostic and therapeutic agent. Radiopharmaceuticals are unique medicinal formulations containing radioisotopes which are used in major clinical area for diagnosis or therapy. The procedures and facilities for the production, use, and storage of radiopharmaceuticals are subject to licensing by national or regional authorities. Increasing incidence of cardiovascular diseases, growing preference for PET and SPET scans, rise in consciousness about positive effects and enhancements in radiotracers are the substantial driving factors of the market during the forecast period. Moreover, increase in use of radiopharmaceuticals in neurological applications are the factors that likely to create numerous opportunity in the near future. However, scarcity of radioisotopes, strict regulatory standards and high cost of the procedure are the factors that limiting the growth of the market during the forecast period.
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The regional analysis of Global Radiopharmaceuticals Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to presence of excellent research facilities and rising healthcare expenditure in the region. Europe is estimated to grow at stable growth rate in the global Radiopharmaceuticals market over the upcoming years. Further, Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026 due to rising demand for PET and SPECT devices and rising patient awareness levels pertaining to cardiovascular diseases and oncology in the region.
The major market player included in this report are:
Advanced Accelerator Applications (AAA)
Bayer AG
Eckert & Ziegler
GE Healthcare
IBA Radiopharma Solutions
Lantheus Holdings Inc.
Mallinckrodt Plc
Nordion Inc.
Positron Corporation
Siemens Healthineers
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Radioisotope:
Technetium-99
Gallium-67
Iodine-123
18F
Rubidium-82
Yttrium-90
Lutetium-177
By Source:
Nuclear Reactors
Cyclotrons
By Application:
Cardiology
Gastroenterology
Oncology
Nephrology
Neurology
Immunology
Others
By End-User:
Hospitals
Ambulatory Surgical Centers
Diagnostic Centers
Others
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Radiopharmaceuticals Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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