Global Radiopharmaceuticals Market Outlook 2020

NEW YORK, Dec. 6, 2016 /PRNewswire/ -- Radioisotopes are radioactive isotopes having an unstable balance of atomic nucleus. Radioisotopes are produced either by using nuclear research reactor or by using cyclotron. These isotopes emit energy in the form of alpha, beta or gamma when changed to a stable nature. The gamma rays, thus emitted are used in Nuclear medicine, specifically in medical diagnostics. In this field, the radiation is used to provide diagnostic information about a human body's functioning. Radiotherapy is also used to treat some life-threatening diseases like cancer. Also, it has been observed that the increasing use of radioisotopes is one of the major reasons for a fall in deaths caused by cancer across the globe. It is because of this feature that the demand for radioisotopes or otherwise called radiopharmaceuticals is increasing significantly.

The global radiopharmaceuticals market is dominated by the North American region followed by the European region. Owing to the production of Mo-99 by the Canada and continuous research activities in different clinical institutes in USA such as National Cancer Institute, the North American market is headed for a strong growth in the future. Other markets in the Asia-Pacific region are also expected to show a significant growth in the future, with China, India, Japan, South Korea, Brazil, and South Africa being the most promising and potential regions. The major driver of growth in these countries is the domestic production of isotopes by reactors coupled with supportive government initiatives.

The radiopharmaceuticals market can be segmented into diagnostic & therapeutic radiopharmaceuticals. Close to 90% of the global radiopharmaceuticals market is dominated by diagnostic segment wherein SPECT accounts for major market share. The SPECT market is dominated by Tc-99m isotopes and F-18 accounts for majority of share in PET segment.
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