Type (Therapeutic, Diagnostics)
The diagnostics segment is set to hold over 73.1% radiopharmaceuticals market share by the end of 2037. In imaging modalities like SPECT and PET, radioisotopes including technetium-99m, iodine-131, and fluorine-18 are frequently utilized. These isotopes are added to radiopharmaceuticals, which are given to patients and subsequently monitored with specialist imaging apparatus. Furthermore, by 2032, it is anticipated that the advantages of radioactive imaging over conventional diagnostic imaging would contribute to the growth of the category. Utilizing radioisotopes for functional imaging, as opposed to conventional anatomical imaging techniques (like CT or MRI), which show structural information, discloses metabolic activity, cellular function, and biochemical activities within tissues.
Moreover, during the forecast period, a rising number of industrial advancements by radiopharmaceuticals market players such as alliances, joint ventures, and collaborations are anticipated to accelerate segment expansion. For example, Jubilant Radiopharma and Evergreen Theragnostics inked a strategic collaboration agreement in June 2023 so that the former would produce and market the latter's OCTEVY tumor diagnostic tool in the U.S.
Radioisotopes (Technetium 99m, Gallium 68, Iodine I, Fluorine 18, Copper 64, Radium 223, Zirconium 89, Other radioisotopes)
By the end of 2037, technetium 99m segment is expected to capture around 45% radiopharmaceuticals market share. Tc-99m has advantageous nuclear characteristics for imaging in medicine. With an energy level of 140 keV, the gamma rays it releases have exceptional penetration through tissue and can be detected by gamma cameras. This characteristic allows for high-resolution imaging while exposing patients and medical professionals to the least amount of radiation. Furthermore, Tc-99m's capacity to form stable complexes with a variety of ligands makes it simple to include in a broad spectrum of radiopharmaceuticals. Because of its adaptability, radiopharmaceuticals for specialized diagnostic uses, such as cardiology, oncology, nephrology, and neurology, have been developed.
In addition, due to this radioisotope's adaptability, industry participants are always concentrating on the creation and launch of related products. During the projection period, a favorable environment for category growth is anticipated to be created by such product debuts in conjunction with a considerable pipeline. For example, Curium and NRG inked a strategic agreement in August 2022 to produce molybdenum-99, which is essential to the manufacturing of technetium-99m, a radioisotope. This action has improved the ability to provide uninterrupted nuclear imaging services to patients.
Our in-depth analysis of the radiopharmaceuticals market includes the following segments
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Author Credits: Radhika Pawar
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