Radiopharmaceutical Therapies Market Size, Share, By Radioisotope Type (Iodine-131, Gallium-68, Technetium-99m, Zirconium 89, Copper 64, Radium 223, Fluorine 18, Lutetium-177, Rubidium-82, Indium-111, and Others), By Source (Nuclear Reactors, Cyclotrons, and Others), By Application (Oncology, Cardiology, Gastroenterology, Neurology, Nephrology and Others), By End-User (Hospitals, Diagnostic Centers, Cancer Research Institutes, Ambulatory Surgical Centers, and Others) and By Region - Trends, Analysis and Forecast till 2034

Radiopharmaceuticals Therapies Market is driven by growing advancements in nuclear medicine as well as increasing applications of diagnostic and therapeutic sectors. In addition, developments in targeted therapies especially in oncology and increasing cases of chronic diseases including cancer and cardiovascular diseases are another factors propelling growth of the global market. Furthermore, technological advancements such as advanced imaging techniques which increases the efficiency and cost-effectiveness of production is also anticipated to create opportunities for growth of the global market over the forecast period.

• In 2023, radiopharmaceuticals therapies market was estimated to be worth USD 15.32 Billion.
• By 2034, the target market is expected to grow to USD 27.3 Billion.
• Target market is expanding at a CAGR of 6.6%

Key Takeaways:

• North America held the largest share of the market in 2024.
• Europe is projected to be the fastest-growing market in the coming years.
• By radioisotope type, technetium-99m dominate the target market growth.
• By source, cyclotrons is expected to dominate the target market growth.
• By application, oncology dominate the target market growth.
• By end user, hospitals are expected to dominate the target market growth.

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Key Drivers of Target Market:

Widespread Usage in Healthcare Sector

Healthcare providers mainly use radiopharmaceuticals for nuclear medicine imaging tests. Providers perform millions of nuclear medicine procedures by using it. Providers also treat certain condition of cancer; as therapeutic radiopharmaceuticals is a significant part of cancer treatment.

Restrains:

Risk of Radiopharmaceuticals

The use of radionuclides involves an interprofessional approach, and many different disciplines must work in tandem to deliver these toxic agents. Risks include extravasation, where radiopharmaceuticals are accidentally injected into the soft tissue surrounding the vein, which can cause harm to the patient and result in inaccurate readings for treatment. 

• Counterbalance Statements: Each healthcare team member must understand the critical nature of their role and what exactly it entails and provide input to ensure proper diagnostic results with no unnecessary risks to the patient.

Opportunities:

New Innovations and Technological Advancements

Recent research and development in radiopharmaceutical therapy has led to new technologies and advancements such as targeted delivery, non-invasive visualization, new radionuclides, etc. which improve the treatment of cancer. It will be also helpful in upcoming forecast period.

• For instance, in July 2024, Full-Life Technologies, a global radio therapeutics company, has entered into a license agreement with SK Biopharmaceuticals, a global biotech company, for exclusive worldwide clinical research, development, manufacturing, and commercialization rights to Full-Life's FL-091 radiopharmaceutical compound targeting neurotensin receptor 1 (NTSR1) positive cancers.

The market is segmented based on Radioisotope Type, Source, Application, End User, and Region.

By Radioisotope Type	By Source	By Application	By End User
Iodine-131 Gallium-68 Technetium-99m Zirconium-89 Copper-64 Radium-223 Fluorine-18 Lutetium-177 Rubidium-82 Indium-111 Others	Nuclear Reactors Cyclotrons Others	Oncology Cardiology Gastroenterology Neurology Nephrology Others	Hospitals Diagnostic Centers Cancer Research Institutes Ambulatory Surgical Centers Others

 

 

 

 

 

 

 

 

 

Radioisotope Type Insights:

On the basis of radioisotope type radiopharmaceuticals therapies market is segmented into Iodine-131, Gallium-68, Technetium-99m, Zirconium-89, Copper-64, Radium-223, Fluorine-18, Lutetium-177, Rubidium-82, Indium-111, and others. Technetium-99m dominate the target market growth due to its widespread use in diagnostic nuclear medicine studies, properties, versatility, etc.

• For Instance, in November 2023, The CRP focused on transferring the knowledge acquired to produce a series of ^99mTc radiopharmaceuticals for imaging various biological substrates of relevant clinical interest using the most efficient methods of ^99mTc labelling.

Source Insights:

The radiopharmaceuticals therapies market by source is segmented into Nuclear Reactors, Cyclotrons, and Others. Cyclotrons is expected to dominate the target market growth as it is primary source of radiopharmaceuticals.

Application Insights:

On the basis of application radiopharmaceuticals therapies market is segmented into Oncology, Cardiology, Gastroenterology, Neurology, Nephrology, and others. Oncology dominate the target market growth due to increasing cases of cancer, huge shift towards personalized medicine, technological advancements, etc.

• For Instance, in January 2024, Lantheus expands Radiopharmaceutical oncology pipeline via strategic agreements with perspective therapeutics.

End User Insights:

The Radiopharmaceuticals Therapies Market by end user is segmented into Hospitals, Diagnostic Centers, Cancer Research Institutes, Ambulatory Surgical Centers, and Others. Hospitals are expected to dominate the target market growth due to increasing demand and uses.

Regional Insights

North America: This region is expected to dominate the growth of the market during forecast period due to strong healthcare ecosystem, increasing R & D activities, increasing cases of chronic diseases, strong presence of leading pharmaceutical companies, innovations in technology, and among others.   

Europe: This region is considered to be the fastest growing region in the target market as due to growing adoption of technological advancements, increasing cases of chronic diseases, increasing demand for novel therapies, rising investments, etc.  

Radiopharmaceuticals Therapies Market Report Scope:

Attribute	Details
Market Size 2024	USD 16.2 Billion
Projected Market Size 2034	USD 27.3 Billion
CAGR Growth Rate	6.6% (2024-2034)
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels, analyzing industry trends and opportunities across sub-segments from 2024 to 2034. It segments the market by Radioisotope Type, Source, Application, End User, and Region.

Segmentation:

By Radioisotope Type:

• Iodine-131
• Gallium-68
• Technetium-99m
• Zirconium-89
• Copper-64
• Radium-223
• Fluorione-18
• Lutetium-177
• Rubidium-82
• Indium-111
• Others

By Source:

• Nuclear Reactors
• Cyclotrons
• Others

By Application:

• Oncology
• Cardiology
• Gastroenterology
• Neurology
• Nephrology
• Others

By End User:

• Hospitals
• Diagnostic Centers
• Cancer Research Institutes
• Ambulatory Surgical Centers
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the Radiopharmaceuticals Therapies Market include Bayer AG, Cardinal Health, Eli Lilly and Company, Lantheus, Novartis AG, Bracco, Jubilant Draximage Radiopharmacies, Inc., Eckert & Ziegler, IBA Radiopharma Solutions, Mallinckrodt, NMR, NTP, and PharmaLogic.

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• In August 2024, Siemens Healthineers aims to grow its PET imaging business by picking up the radiodiagnostic manufacturing and distribution network of Novartis’ Advanced Accelerator Applications division.
• In May 2024, ARTBIO, Inc. (ARTBIO), a clinical-stage radiopharmaceutical company developing a new class of targeted alpha radioligand therapies (ARTs), and Nucleus RadioPharma Inc. (Nucleus), the world’s first fully integrated development, manufacturing, and supply chain organization for radiopharmaceuticals, announced a strategic manufacturing and supply agreement to support ARTBIO’s therapeutic product manufacturing.
• In May 2024,  Mariana Oncology, a fully integrated biotechnology company pioneering a new era of radiopharmaceutical innovation to treat people with cancer, announced it will be acquired by Novartis for $1 billion upfront and up to $750 million in potential milestone payments.

Analyst View:

The industry is placed for substantial growth due growing advancements in nuclear medicine as well as increasing applications of diagnostic and therapeutic sectors, developments in targeted therapies especially in oncology and increasing cases of chronic diseases including cancer and cardiovascular diseases. New innovations and development, advance technologies as well as many collaborations and partnerships helps to boost the growth of the market in upcoming years.

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• Bayer AG
• Cardinal Health
• Eli Lilly and Company
• Lantheus
• Novartis AG
• Bracco
• Jubilant Draximage Radiopharmacies, Inc.
• Eckert & Ziegler
• IBA Radiopharma Solutions
• Mallinckrodt
• NMR
• NTP
• PharmaLogic.