The radiopharmaceutical therapeutic market is projected to expand from US$ 2.71 billion in 2023 to US$ 7.30 billion by 2031, reflecting a compound annual growth rate (CAGR) of 13.1% during the period from 2023 to 2031.
The anticipated growth in the radiopharmaceutical therapeutic market can be largely attributed to the rising acceptance of targeted therapies alongside the increasing incidence of cancer. Nevertheless, the limited shelf-life of radiopharmaceuticals poses a challenge to the market's expansion.
According to data from the World Cancer Research Fund International, approximately 1.02 million new cancer cases were diagnosed in Japan in 2020, with an age-standardized incidence rate of 282.9 per 100,000 individuals. The American Cancer Society's report for 2023 indicates that around 43,720 new cases of thyroid cancer were identified in the United States, comprising 12,540 males and 31,180 females. Additionally, there were 2,120 fatalities attributed to thyroid cancer in the same year, with 970 males and 1,150 females succumbing to the disease. The American Society of Clinical Oncology highlights that prostate cancer remains one of the most prevalent cancers among men, with approximately 34,500 deaths recorded in the US in 2020. Radiopharmaceutical therapies are currently employed in the treatment of thyroid cancer, prostate cancer, and well-differentiated neuroendocrine tumors. These therapies are designed to specifically target cancerous cells, thereby minimizing damage to surrounding healthy tissues. For example, I-131 is utilized in the treatment of hyperthyroidism and thyroid cancer. Consequently, the demand for radiopharmaceutical therapeutics is on the rise, propelling the growth of the radiopharmaceutical therapeutic market.
Application-Based Insights
The radiopharmaceutical therapeutic market is segmented based on application into oncology, neurology, cardiology, and other areas. The oncology segment accounted for a substantial share of the market in 2023 and is expected to exhibit the highest CAGR throughout the forecast period. The effectiveness of radiopharmaceutical therapeutics in treating prostate cancer has garnered attention from both clinicians and patients. Notably, in March 2022, Novartis received approval from the US Food and Drug Administration for Pluvicto (lutetium Lu-177 vipivotide tetraxetan), which is indicated for adult patients with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer.
End User-Based Insights
From the perspective of end users, the radiopharmaceutical therapeutic market is divided into hospitals, oncology clinics, and other facilities. The hospitals segment held a significant share of the market in 2023 and is projected to achieve the highest CAGR from 2023 to 2031. The increasing demand for treatments related to cardiovascular diseases and oncology is a primary driver of growth within the hospital segment. Additional factors contributing to market expansion include shorter hospital stays, access to superior facilities, and comprehensive care. Moreover, government reimbursement programs play a crucial role in bolstering the growth of this segment. The rising incidence of various diseases, coupled with an increasing number of hospitals worldwide and the rapid advancement of surgical procedures, positively impacts the growth of the radiopharmaceutical therapeutic market.
The insights and data presented in this report are derived from reputable sources, including the US Food and Drug Administration, World Cancer Research Fund International, and the American Cancer Society, ensuring a comprehensive understanding of the radiopharmaceutical therapeutic market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Radiopharmaceutical Therapeutics Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Radiopharmaceutical Therapeutics Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Radiopharmaceutical Therapeutics Market - Global Market Analysis
6.1 Radiopharmaceutical Therapeutics - Global Market Overview
6.2 Radiopharmaceutical Therapeutics - Global Market and Forecast to 2031
7. Radiopharmaceutical Therapeutics Market - Revenue Analysis (USD Million) - By Product Type, 2021-2031
7.1 Overview
7.2 Technitium-99m
7.3 Thallium-201
7.4 Gallium-68
7.5 Iodine-131
7.6 Copper-64
7.7 Others
8. Radiopharmaceutical Therapeutics Market - Revenue Analysis (USD Million) - By Therapy Type, 2021-2031
8.1 Overview
8.2 Alpha Emitters
8.3 Beta Emitters
8.4 Brachytherapy Isotopes
9. Radiopharmaceutical Therapeutics Market - Revenue Analysis (USD Million) - By Application, 2021-2031
9.1 Overview
9.2 Oncology
9.3 Neurology
9.4 Cardiology
9.5 Others
10. Radiopharmaceutical Therapeutics Market - Revenue Analysis (USD Million) - By End User, 2021-2031
10.1 Overview
10.2 Hospitals
10.3 Oncology Clinics
10.4 Others
11. Radiopharmaceutical Therapeutics Market - Revenue Analysis (USD Million), 2021-2031 - Geographical Analysis
11.1 North America
11.1.1 North America Radiopharmaceutical Therapeutics Market Overview
11.1.2 North America Radiopharmaceutical Therapeutics Market Revenue and Forecasts to 2031
11.1.3 North America Radiopharmaceutical Therapeutics Market Revenue and Forecasts and Analysis - By Product Type
11.1.4 North America Radiopharmaceutical Therapeutics Market Revenue and Forecasts and Analysis - By Therapy Type
11.1.5 North America Radiopharmaceutical Therapeutics Market Revenue and Forecasts and Analysis - By Application
11.1.6 North America Radiopharmaceutical Therapeutics Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Radiopharmaceutical Therapeutics Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Radiopharmaceutical Therapeutics Market
11.1.7.1.1 United States Radiopharmaceutical Therapeutics Market, by Product Type
11.1.7.1.2 United States Radiopharmaceutical Therapeutics Market, by Therapy Type
11.1.7.1.3 United States Radiopharmaceutical Therapeutics Market, by Application
11.1.7.1.4 United States Radiopharmaceutical Therapeutics Market, by End User
11.1.7.2 Canada Radiopharmaceutical Therapeutics Market
11.1.7.2.1 Canada Radiopharmaceutical Therapeutics Market, by Product Type
11.1.7.2.2 Canada Radiopharmaceutical Therapeutics Market, by Therapy Type
11.1.7.2.3 Canada Radiopharmaceutical Therapeutics Market, by Application
11.1.7.2.4 Canada Radiopharmaceutical Therapeutics Market, by End User
11.1.7.3 Mexico Radiopharmaceutical Therapeutics Market
11.1.7.3.1 Mexico Radiopharmaceutical Therapeutics Market, by Product Type
11.1.7.3.2 Mexico Radiopharmaceutical Therapeutics Market, by Therapy Type
11.1.7.3.3 Mexico Radiopharmaceutical Therapeutics Market, by Application
11.1.7.3.4 Mexico Radiopharmaceutical Therapeutics Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. Industry Landscape
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. Radiopharmaceutical Therapeutics Market - Key Company Profiles
14.1 Cardinal Health
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 Bayer AG
14.3 Novartis
14.4 Jubliant DraxImage Inc.
14.5 Curium
14.6 Yantai Dongcheng Pharmaceutical Group
14.7 Lantheus
14.8 Telix Pharmaceuticals
14.9 Q BioMed
14.10 Radiopharm Theranostics
15. Appendix
15.1 Glossary
15.2 About
15.3 Market Intelligence Cloud
NA
NA
LIST OF TABLES
LIST OF FIGURES
The List of Companies - Radiopharmaceutical Therapeutic Market
Cardinal Health
Bayer
Novartis
Jubilant DraxImage Inc.
Curium
Yantai Dongcheng Pharmaceutical Group
Lantheus
Q BioMed
Telix Pharmaceuticals
Radiopharm Theranostics.
