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A service for healthcare industry professionals · Tuesday, March 18, 2025 · 795,047,922 Articles · 3+ Million Readers

Radiopharmaceuticals Market to Reach $21.8 bn, Globally, by 2033 at 10.6% CAGR | GE Healthcare, Novartis AG, Bayer AG

PORTLAND, IA, UNITED STATES, March 18, 2025 /EINPresswire.com/ -- According to the report, the radiopharmaceuticals market was valued at $7.9 billion in 2023 and is estimated to reach $21.8 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033.

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Rise in the prevalence of chronic diseases, rise in the adoption of strategies by key players, and surge in R&D activities within the radiopharmaceuticals sector are the major factors that drive the growth of the global radiopharmaceuticals market. However, the high cost associated with the development and implementation of radiopharmaceuticals restricts the market growth. Moreover, the rise in the number of pipeline products is expected to present new opportunities in the coming years.

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The hospital and clinics segment to maintain its leadership status throughout the forecast period.

By end user, the hospitals & clinics segment held the largest market share in 2023, accounting for more than half of the global radiopharmaceuticals market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to register the highest CAGR of 11.1% during the forecast period. This is attributed to their comprehensive healthcare infrastructure, specialized expertise, and ability to provide a wide range of imaging and treatment services to patients.

The Technetium 99m segment to maintain its leadership status throughout the forecast period

By radioisotope, the Technetium 99m segment held the largest market share in 2023, accounting for more than two-fifths of the global radiopharmaceuticals market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to register the highest CAGR of 11.5% during the forecast period. This is attributed to its versatile nuclear properties, established production, clinical utility across diverse medical specialties, ongoing technological advancements, and supportive regulatory environment.

The cancer segment to maintain its lead position during the forecast period

By application, the cancer segment accounted for the largest share in 2023, contributing to more than half of global radiopharmaceuticals market revenue, and is projected to maintain its lead position during the forecast period. The same segment is expected to register the highest CAGR of 10.9% during the forecast period. This is attributed to the clinical need for effective cancer diagnostics and therapies, ongoing advancements in oncology research and molecular imaging technologies, the rise of personalized medicine approaches, and supportive regulatory environments fostering innovation and market access in oncology.

The diagnostic segment to maintain its lead position during the forecast period

By type, the diagnostic segment accounted for the largest share in 2023, contributing to more than two-thirds of global radiopharmaceuticals market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to the essential role of diagnostic radiopharmaceuticals in disease diagnosis and management, advancements in molecular imaging technologies, increase in demand for non-invasive diagnostic imaging services, and supportive regulatory environments fostering innovation and market access.

However, the therapeutic segment is expected to register the highest CAGR of 11.3% during the forecast period. This is attributed to advancements in radiopharmaceutical technology and molecular targeting strategies, increase in the prevalence of chronic diseases, and collaborative efforts fostering innovation and market expansion in therapeutic radiopharmaceuticals.

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North America to maintain its dominance by 2033

By region, North America held the largest market share in terms of revenue in 2023, accounting for two-fifths of the radiopharmaceuticals market revenue and is expected to dominate the market during the forecast period. This is attributed to its advanced healthcare infrastructure, strong pharmaceutical industry, supportive regulatory environment, and collaborative ecosystem fostering innovation and market growth in nuclear medicine. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.4% from 2024 to 2033. This is attributed to the increasing prevalence of chronic diseases, advancements in radiopharmaceutical technology, and collaborative efforts to improve healthcare infrastructure and innovation in nuclear medicine.

Leading Market Players

Bayer AG
Cardinal Health
Curium Pharma
Eli Lilly and Company
Jubilant Pharmova Limited
Lantheus
ITM Isotope Technologies Munich Se
Telix Pharmaceuticals Limited
Eckert and Ziegler
Bracco
South African Nuclear Energy Corporation (Necsa)
NorthStar Medical Radioisotopes
The State Atomic Energy Corporation Rosatom

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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