Radioactive Diagnostic Agent Market - Forecast(2022 - 2027)

Report Code: HCR 0634 Report Format: PDF + Excel

Radioactive Diagnostic Agent Market Overview

Radioactive Diagnostic Agent Market size is estimated to reach $10.5 billion by 2027, growing at a CAGR of 8.2% during the forecast period 2022-2027. Radioactive diagnostic agents are principally utilized to discover abnormalities and malfunction of particular tissue or organ in a body. Diagnostic methods involve medications that are integrated with radiotracers, which discharge gamma rays from radiotracers inside the body. Diagnostic agents are utilized to diagnose some conditions. X-ray dyes and radioactive isotopes are substances injected into the body to focus on some areas at the time of X-rays, MRI, or CT scans. Radiotracers and radiopharmaceuticals are substances that pursue the behavior of different biological procedures. They are also utilized for flow visualization by way of various medical imaging modalities like Positron Emission Tomography (PET imaging), Single Photon Emission Computed Tomography (SPECT imaging), and Computed Radioactive Particle Tracking (CARPT) systems. Positron emission tomography (PET) is a functional imaging method that utilizes radioactive substances termed radiotracers to envision and assess alterations in metabolic procedures, and in additional physiological actions inclusive of blood flow, regional chemical composition, and absorption. Tumor imaging is a clinical and experimental medical technology planned to localize neoplastic lesions in a body utilizing a labeled antibody or its fragment. Tumor imaging relies on the presence of an antigen that is either exclusively expressed on the tumor or at least has a considerable difference in its quantity and/or dispersion between the tumor and normal tissues. Tumor antigens are normally divided into two kinds namely tumor-specific antigens and tumor-associated antigens.

The augmenting technological progress involving extensive application of positron emission tomography (PET) and the heightening awareness regarding health in developing nations are set to drive the Radioactive Diagnostic Agent Market. The growing count of cancer patients is set to propel the growth of the Radioactive Diagnostic Agent Market during the forecast period 2022-2027. This represents the Radioactive Diagnostic Agent Industry Outlook.

Report Coverage

The report: Radioactive Diagnostic Agent Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Radioactive Diagnostic Agent Market.

By Product Type: Radioisotopes, Radiotracers.
By Application: Single-Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET).
By End User: Hospitals, Nursing Facilities, Long Term Care Centers, Diagnostic Imaging Centers, Pharmaceutical Companies, Research Centers, Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

  • Geographically, North America Radioactive Diagnostic Agent Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging application of U.S. Food and Drug Administration authorized novel radioactive diagnostic imaging agents to discover unique neuroendocrine tumors along with the proliferating application of positron emission tomography (PET) to assist in disclosing the metabolic or biochemical function of the tissues and organs in the North American region.
  • Radioactive Diagnostic Agent Market growth is being driven by the increasing application of radioactive diagnostic agents in cancer therapy which may involve the application of positron emission tomography (PET) scan and in the discovery of intrinsic organ complexities. However, the steely competition amidst current makers of radioactive diagnostic agents, government regulations for the decrease of complete healthcare cost and consequent upturn in bulk purchasing by way of INHs (Isonicotinic Acid Hydrazide or Isoniazid) and GPOs (Group Purchasing Organizations) are some of the major factors hampering the growth of Radioactive Diagnostic Agent Market. 
  • Radioactive Diagnostic Agent Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Radioactive Diagnostic Agent Market report. 

Radioactive Diagnostic Agent Market: Market Share (%) by Region, 2021

Radioactive Diagnostic Agent Market

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Radioactive Diagnostic Agent Market Segment Analysis – By Product Type:

The Radioactive Diagnostic Agent Market based on product type can be further segmented into Radioisotopes and Radiotracers. The Radiotracers Segment held the largest market share in 2021. This growth is owing to the surging demand for xost0effective radiotracers and the expanding acceptance of radioactive diagnostic agents with high accuracy. Radiotracers are utilized for flow visualization by way of distinct technologies, like Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), and Computed Radioactive Particle Tracking (CARPT). The proliferating utilization of radiotracers in positron emission tomography (PET) is further propelling the growth of the Radiotracers segment.

Furthermore, the Radioisotopes segment is estimated to grow with the fastest CAGR of 8.8% during the forecast period 2022-2027 owing to the extensive attention on establishing progressive radioisotopes, the benefits of radioisotopes like specificity, selectivity, and reduced detection limit, and the boost in demand for radioisotopes in single-photon emission tomography scans.

Radioactive Diagnostic Agent Market Segment Analysis – By End User:

The Radioactive Diagnostic Agent Market based on end-user can be further segmented into Hospitals, Nursing Facilities, Long Term Care Centers, Diagnostic Imaging Centers, Pharmaceutical Companies, Research Centers, and Others. The Hospitals segment held the largest market share in 2021. This growth is owing to the surging application of cost-effective Radioactive Diagnostic Agents for the treatment of various ailments like cancer in hospitals. Radiotracers may be extensively utilized in Positron Emission Tomography (PET) scans. The extensive application of radioisotopes across the world for diagnosis is further propelling the growth of this segment.

Furthermore, the Diagnostic Imaging Centers segment is estimated to grow with the fastest CAGR of 8.5% during the forecast period 2022-2027 owing to the surging demand for radiotracers for tumor imaging and the increasing awareness of positron emission tomography (PET) scans.

Radioactive Diagnostic Agent Market Segment Analysis – By Geography:

The Radioactive Diagnostic Agent Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America held the largest share with 42% of the overall market in 2021. The growth of this region is owing to the expanding healthcare industry and the proliferating elderly population in the North American region. A PET radiotracer (also termed PET tracer) is a positron-emitting radiopharmaceutical utilized in positron emission tomography (PET). The increasing application of radiotracers for cancer therapy is further propelling the growth of the Radioactive Diagnostic Agent Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like expanding application of positron emission tomography (PET) for the treatment of cancer in the Asia-Pacific region. The enormous count of patients in countries like India and China is further fuelling the progress of the Radioactive Diagnostic Agent Market in the Asia-Pacific region.

Radioactive Diagnostic Agent Market Drivers

Surging FDA Approvals For Radioactive Diagnostic Agent Are Projected To Drive The Growth Of Radioactive Diagnostic Agent Market:

On December 01, 2020, the Food and Drug Administration (FDA) authorized Gallium 68 PSMA-11 to the University of California, Los Angeles, and the University of California, San Francisco. On May 26, 2021, the FDA authorized Pylarify. Gallium 68 PSMA-11 and Pylarify are radioactive diagnostic agents, designated for positron emission tomography (PET) of prostate-specific membrane antigen (PSMA) positive lesions in men with prostate cancer. The FDA indication for Pylarify and Gallium 68 PSMA-11 is:

“PSMA positive lesions in men with prostate cancer

  1. With suspected metastasis who are candidates for initial definitive therapy.
  2. With suspected recurrence based on elevated serum prostate-specific antigen (PSA) levels.”

The surging FDA approvals for Radioactive Diagnostic Agents are therefore fuelling the growth of the Radioactive Diagnostic Agent Market during the forecast period 2022-2027.

Novel Product Launches Involving Radioactive Diagnostic Agents Are Expected To Boost The Demand Of Radioactive Diagnostic Agent:

In October 2020, Bracco Diagnostics, the U.S. subsidiary of Italy-based Bracco Imaging, introduced the CardioGen-82 infusion system consequent to accepting authorization from the Food and Drug Administration (FDA). The cardioGen-82 infusion system is planned to enhance automation, effectiveness, and simplicity in cardiac positron emission tomography (PET) myocardial perfusion imaging (MPI). The infusion system model will take the place of the firm’s present infusion system. The closed system generates rubidium Rb 82 chloride injection for intravenous application. Rubidium Rb 82 chloride injection is a radioactive diagnostic agent designated for the PET imaging of the myocardium under rest or pharmacologic stress conditions. These kinds of novel product launches involving Radioactive Diagnostic Agents are therefore driving the growth of the Radioactive Diagnostic Agent Market during the forecast period 2022-2027.

Radioactive Diagnostic Agent Market Challenges

Limitations Of Radiotracers Are Hampering The Growth Of The Radioactive Diagnostic Agent Market:

Prior to introducing a radiotracer into a system, it must be certain how it will function within it. In some circumstances, the tracer may go through a breakdown, phase alteration, unacceptable absorption, adsorption, or chemical interaction with system components. All this can result in erroneous outcomes. It is frequently hard to fulfill all the needs of a perfect tracer. Some compromises need to be made. Even if a radiotracer satisfies the required criteria, it may not be accessible to tracer groups in developing nations. These issues are thus hampering the growth of the Radioactive Diagnostic Agent Market.

Radioactive Diagnostic Agent Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Radioactive Diagnostic Agent top 10 companies include:

  1. GE healthcare
  2. Cardinal Health
  3. Mallinckrodt
  4. Eli Lilly and Company
  5. Navidea Biopharmaceuticals
  6. Advanced Accelerator Applications
  7. Blue Earth Diagnostics Limited
  8. Lantheus Medical Imaging, Inc.
  9. Curium Pharma
  10. Bracco Diagnostic Inc.

Recent Developments

  • In September 2021, Lantheus Holdings, Inc. (Lantheus) and RefleXion Medical, Inc., declared a growth and commercialization collaboration to assess the application of piflufolastat F 18, Lantheus’ prostate-specific membrane antigen (PSMA)-targeted positron emission tomography (PET) imaging agent, to authorize real-time therapeutic supervision of biology-guided radiotherapy1 (BgRT) in prostate cancer utilizing the RefleXion X1™ platform. Lantheus is an entrenched leader and completely combined provider dedicated to creative imaging diagnostics, targeted therapeutics, and artificial intelligence solutions to discover, combat and pursue severe medical conditions. RefleXion is a therapeutic oncology firm leading BgRT as a novel modality for healing all phases of cancer.
  • In December 2021, Navidea Biopharmaceuticals, Inc., declared the introduction of the NAV3-33 Phase 3 clinical trial labeled “Evaluation of Tc99m Tilmanocept Imaging for the Early Prediction of Anti-TNF? Therapy Response in Patients with Moderate to Severe Active Rheumatoid Arthritis (RA).” This Phase 3 trial will demonstrate the capability of Tc99m tilmanocept imaging to act as an early predictor of healing response in rheumatoid arthritis (“RA”) patients changing to an anti-TNF? therapy. Trial details will be informed to clinicaltrials.gov.
  • In April 2021, Cardinal Health introduced Outcomes™, a digital ecosystem linking pharmacists, payers, and pharmaceutical firms to alleviate the challenges of medication non-adherence. Outcomes conveys digital health solutions for customized medication therapy handling, digital patient engagement, and telepharmacy, through its Connect™ platform so that these three customer classes can improve patient adherence to medicine, fuel superior health outcomes for patients, and decrease the cost of care. Outcomes integrate numerous existing Cardinal Health businesses within Connected Care, inclusive of mscripts™, OutcomesMTM™, and TelePharm.

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1. Radioactive Diagnostic Agent Market Overview
    1.1 Definitions and Scope
2. Radioactive Diagnostic Agent Market - Executive Summary
3. Radioactive Diagnostic Agent Market – Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Financial Analysis- Key Companies
    3.3 Market Share Analysis- Key Companies
    3.4 Patent Analysis- Global
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Radioactive Diagnostic Agent Market – Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Radioactive Diagnostic Agent Market – Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Radioactive Diagnostic Agent Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Radioactive Diagnostic Agent Market – By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Radioactive Diagnostic Agent Market - By Product Type
    8.1 Radioisotopes
    8.2 Radiotracers
9. Radioactive Diagnostic Agent Market - By Application
    9.1 Single-Photon Emission Computed Tomography (SPECT)
    9.2 Positron Emission Tomography (PET)
10. Radioactive Diagnostic Agent Market - By End User 
    10.1 Hospitals
    10.2 Nursing Facilities
    10.3 Long Term Care Centers
    10.4 Diagnostic Imaging Centers
    10.5 Pharmaceutical Companies
    10.6 Research Centers
    10.7 Others
11. Radioactive Diagnostic Agent Market - By Geography
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest Of The World
        11.5.1 Middle East
        11.5.2 Africa
12. Radioactive Diagnostic Agent Market - Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs and partnerships
13. Radioactive Diagnostic Agent Market – Industry Competition Landscape (Premium)
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Radioactive Diagnostic Agent Market – Key Company List by Country Premium (Premium)
15. Radioactive Diagnostic Agent Market - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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