Peptide Receptor Radionuclide Therapy Market by Application 2016 to 2024

Radiopharmaceutical Market: Scope and Trends

This report on the radiopharmaceutical market analyzes the current and future scenario of the global market. Increase in incidence of various diseases, development of new sources for radioisotope production, and rise in demand for nuclear medicine are boosting the radiopharmaceutical market. Increase in incidence of cancer and cardiovascular diseases, growth in awareness about effective use of radiopharmaceuticals, and rise in preference for SPECT and PET scans are some of the factors expected to drive the growth of the global radiopharmaceutical market during the forecast period.

The global radiopharmaceutical market was valued at US$4.7 bn in 2015 and is estimated to reach US$7.4 bn by 2024, expanding at a CAGR of 5.3% from 2016 to 2024.

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The radiopharmaceutical market report comprises an elaborate executive summary, which includes market snapshot that provides information about various segments. It also provides information and data analysis of the global market with respect to the segments based on radioisotopes, source, end-user, and geography. A detailed qualitative analysis of drivers and restraints, and opportunities has been provided in the market overview section. Additionally, the section comprises Porters Five Forces Analysis to help understand the competitive landscape in the market. This section also provides market attractiveness analysis in terms of geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global radiopharmaceutical market.

Radiopharmaceutical Market: Segmentation

Based on radioisotope, the market has been segmented into Technetium-99, Lutetium-177, Rubidium-87, Iodine-123, Yttrium-90, and Gallium-62. Technetium-99 is the most widely used radioisotope across the globe; around 70% of radiopharmaceutical companies depend on Mo-99 to produce Technetium-99, as per the World Nuclear Association. The market segments have been analyzed based on available approved products, cost-effectiveness, and preference for technological systems by physicians and patients. The market size and forecast for each of these segments have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year.

Based on source, the radiopharmaceutical market has been segmented into two major categories: nuclear reactors and cyclotrons. The market segments have been extensively analyzed based on increase in demand for radioisotopes for nuclear medicines, availability of radioisotopes and raw materials, radioisotopes short half-life and number of production units used for production of radioisotopes. Different types of end-user utilize radiopharmaceutical products to treat diseases either through imaging techniques or the therapeutics method.

Under the end-user segment, hospitals plays a major role followed by ambulatory surgical centers, diagnostic centers, and others (such as universities, research laboratories, and pathology labs). The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2014 to 2024. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2016 to 2024, considering 2015 as the base year. Application segment signifies the usage of radiopharmaceutical products through different disease indication such as oncology, cardiology, neurology, nephrology, gastroenterology, immunology and others. Oncology segment is the dominant sector which emphasizes the use of different radioisotopes for treating various cancers and overcome the side effects of therapeutics. Brachytherapy is a sub segment of oncology application which signifies the methods of treating cancer through implants, surgery or radiation technology. The segment is expected to have a significant growth during the forecast period. 

Geographically, the global radiopharmaceutical market has been categorized into five major regions and the key countries in the respective region: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, Japan, China, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, Saudi Arabia, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year.

Radiopharmaceutical Market: Competitive Landscape

The report also profiles major players in the global radiopharmaceutical market based on various attributes such as company overview, financial overview, product portfolio, business strategies, SWOT analysis, and recent developments. Major players profiled in this report include Advanced Accelerator Applications (AAA), Eckert & Ziegler, GE Healthcare, IBA Radiopharma Solutions, Lantheus Holdings, Inc., Mallinckrodt plc., Nordion, Inc., Siemens Healthineers, and Positron Corporation.

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Active Role in Cancer Diagnosis and Treatment Spurs Use of Radiopharmaceuticals, Market to Rise Exponentially

Radiopharmaceuticals are a group of pharmaceutical drugs that have radioactivity. They are used for the diagnosis and treatment of various diseases such as tumors, cancers, and diseases affecting the bone marrow, heart, kidney, liver, lungs, salivary gland, and urinary bladder. The radiopharmaceuticals market is expanding owing to the increasing rate of chronic cardiovascular and neurology diseases and will be worth US$12.2 bn by 2018, expanding at a whopping CAGR of 18.3%, according to a report published by Transparency Market Research. 

The spectrum of radiopharmaceuticals is broadening due to the coordinated efforts of chemists, physicians, and manufacturers of synthesis equipment. 

Actinium Pharmaceuticals, Inc. Enters into Agreement with Zevacor Pharma, Inc. for Production of Iomab-B

Actinium Pharmaceuticals, Inc., a biopharmaceutical company that is developing an innovative targeted payload immunotherapeutic to treat advanced forms of cancer, has recently entered into an agreement with radiopharmaceutical products manufacturer Zevacor Pharma, Inc. in the U.S. The two companies have entered the agreement to produce Iomab-B, which is a radioimmunotherapy to be used as an induction and conditioning agent prior to bone marrow transplant. Iomab-B is to be used on patients above 55 years of age who are undergoing treatment for acute myeloid leukemia (AML). 

Iomab-B is a radioimmunoconjugate comprising iodine-131 radioisotope and BC8, which is a novel murine monoclonal antibody. BC8 was developed to target CD45, which is a pan-leukocytic antigen found in the white blood cells. CD45 makes BC8 useful in targeting white blood cells in preparation for the transplantation of the hematopoietic stem cell in a number of blood cancer indications. 

BC8, when labeled with radioactive isotopes, transports radioactivity directly to the location of cancerous growth, thus avoiding side effects of radiation on the healthy tissues. Iomab-B can be used as a conditioning agent on patients suffering from Hodgkin's disease, Non-Hodgkin lymphomas, acute lymphoblastic leukemia, chronic lymphocytic leukemia, multiple myeloma, and chronic myeloid leukemia. 

Such new developments in the field of medical science are expected to drive the radiopharmaceuticals market in future.

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SPECT and PET – The Science of Medical Imaging 

Single photon emission computerized tomography (SPECT) and positron emission tomography (PET) are useful in enabling doctors to determine the presence and size of cancerous tumors. PET and SPECT work on the same principle – that of detecting gamma rays and building a 3D picture of a cancerous tumor. A radioactive tracer, such as glucose with a radioactive isotope, is injected into the patient. As tumor cells grow, they require higher amounts of glucose. Blood carries glucose throughout the body of the patient but it is absorbed mostly by the cancerous or tumor site, absorbing the isotope with it. The isotope then decays, emitting gamma rays. The gamma rays are then collected by the detectors present around the patient, which then builds up a picture of the positions and shape of the tumor, along with where they came from. 

Utilization of a radiotracer in PET and SPECT for imaging has changed the entire process of diagnosis of disease. With rising cases of cancer and tumors and the resultant need to diagnose them effectively, the use of radiopharmaceuticals is only expected to show an upward graph.