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 $1.6 billion by 2026, growing at a CAGR of 5.7% during the forecast period 2021-2026. Radioactive diagnostic agents are used in the determination of total plasma and blood volume. They are also used for the diagnosis of metastatic neuroblastoma. Radioactive diagnostic agents are extensively being used across the world owing to the rise in the importance of diagnosis for a specific defect in the body and the growing demand for radioactive agents in cancer therapy and tumor imaging. The growing adoption of radiotracers for tumor imaging, rise in the availability of diagnostic X-rays in hospitals in developed nations, the increasing awareness about the importance of positron emission tomography scans, and the rise in investment by the key players to develop advanced radioactive diagnostic agents are the factors that are set to drive the growth of the Radioactive Diagnostic Agent Market for the period 2021-2026.

Report Coverage

The report: “Radioactive Diagnostic Agent Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Radioactive Diagnostic Agent Market.
By Product Type: Radioisotopes and Radiotracers.
By Application: Positron Emission Tomography and Single-Photon Emission Tomography.
By End User: Hospitals, Diagnostic Imaging Centers, Research Institutes, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).

Key Takeaways

  • Geographically, the North America Radioactive Diagnostic Agent Market accounted for the highest revenue share in 2020, and it is poised to dominate over the period 2021-2026 owing to the rise in the demand for diagnostic X-rays in developed regions.
  • The increase in the adoption of cost-effective diagnostic agents in hospitals is driving the Hospitals segment. However, the short half-life of radiopharmaceuticals is one of the major factors that is said to reduce the growth of the Radioactive Diagnostic Agent Market.
  • Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Radioactive Diagnostic Agent Market report.

Radioactive Diagnostic Agent Market Revenue Share, By Geography, 2020 (%)

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Radioactive Diagnostic Agent Market Segment Analysis - By Product Type

The Radioactive Diagnostic Agent Market based on the Product Type can be further segmented into Radioisotopes and Radiotracers. The Radiotracers segment held the largest share owing to the factors such as the increase in the demand for cost-effective radiotracers and the rise in the adoption of diagnostic agents that measure with high precision. According to statistics, semi-automatic MRI-template based analysis of the various tool using the radiotracers is potentially stable for target-selective radiotracers and metabolic radiotracers and are increasingly being used in Positron Emission Tomography scans for every 1,00,000 scans. This increase in the number of musculoskeletal disorders has propelled the demand for various shock wave devices, driving the growth of the Radioactive Diagnostic Agent Market. The Radioisotopes is estimated to be the fastest-growing segment with a CAGR of 6.3% over the period 2021-2026. This growth is owing to the factors such as the growing focus on developing advanced radioisotopes and the increase in the 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 the End User can be segmented into Hospitals, Diagnostic Imaging Centers, Research Institutes, and Others. The Hospitals segment held the largest share in 2020 owing to the factors such as the easy availability of diagnostic X-rays in hospitals and the growing adoption of cost-effective diagnostic agents in hospitals. The rise in the demand for advanced radioisotopes in hospitals is driving the growth of the Radioactive Diagnostic Agent Market. According to the World Nuclear Association, 10,000 hospitals across the world are using radioisotopes, and around 90% of these procedures are used for diagnosis. The Diagnostic Imaging Centers segment is estimated to be the fastest-growing segment with a CAGR of 6.7% over the period 2021-2026. This growth is owing to the factors such as the growing demand for radiotracers for tumor imaging and the rise in awareness about the availability of positron emission tomography 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 35% of the overall market in 2020. The growth in this segment is owing to the factors such as the increasing demand for diagnostic X-rays in developed regions and the growing adoption of radiotracers for tumor imaging. The growing availability of advanced radioactive diagnostic agents in developed nations is driving the growth of the Radioactive Diagnostic Agent Market. European segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the investment by the key players in the region to develop advanced diagnostic agents and the growing adoption of positron emission tomography scans. In recent years, more positron emission tomography scans were performed in Belgium, Denmark, and France than in other European Union (EU) member states.

Radioactive Diagnostic Agent Market Drivers

Increase in the Focus on Developing Advanced Radioactive Diagnostic Agents is Expected to Boost Product Demand.

The key players are developing advanced Radioactive Diagnostic Agents to meet the growing demand for radiotracers and radioisotopes in hospitals and are increasingly achieving regulatory approvals. For example, Eli Lilly Company has received the Food and Drug Administration (FDA) approval for its radioactive agent that is used in positron emission tomography scans, which is one of the major factors driving the growth of the Radioactive Diagnostic Agent Market.

Rise in the Prevalence of Target Conditions will Provide New Growth Avenues to the Industry Growth.

According to the World Health Organization (WHO), around 19 million cancer cases were estimated to report across the world by 2025. This rapid rise in the prevalence of cancer has propelled the demand for positron emission tomography scans, further propelling the demand for Radioactive Diagnostic Agent Market.

Radioactive Diagnostic Agent Market Challenges

Short Half-life of Radiopharmaceuticals may Pose Hindrance to Market Growth.

The key players in the market are increasing their investment to carry out various research and development activities for developing advanced radiotracers for tumor imaging. However, the radioactivity in Positron Emission Tomography scans decreases in 110 minutes if it is not used, which is one of the major factors estimated to reduce the growth of the Radioactive Diagnostic Agent Market.

Radioactive Diagnostic Agent Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Radioactive Diagnostic Agent Market. Key companies of this market are -

  • GE Healthcare
  • Mallinckrodt Pharmaceuticals
  • Cardinal Health
  • Navidea Biopharmaceuticals
  • Curium Pharma
  • Advanced Accelerator Applications
  • Bracco Diagnostic Inc
  • Jazz Pharmaceuticals
  • Lantheus Medical Imaging, Inc
  • Eli Lilly and Company

Acquisitions/Partnerships:

  • In August 2020, Navidea Biopharmaceuticals, Inc entered into a partnership with Jubilant Radiopharma for diagnostic imaging agents and enabled Nuclear Medicine departments to quantifiably monitor macrophages in patients.
  • In March 2020, Curium acquired Zevacor Molecular cardiac PET imaging, one of the most frequently used positron emission tomography (PET) agents in the United States for bringing additional value to the portfolio.
  • In June 2019, Bracco Diagnostic acquired Blue Earth Diagnostics, an imaging company, for $ 450 million. The addition of closing adjustment estimated at $25 million for focusing on molecular imaging agents.

Relevant Links:

Cancer Diagnostics Market - Forecast (2021 - 2026)
Report Code: HCR 0195

Radiopharmaceuticals/ Nuclear Medicine Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026
Report Code: HCR 21335

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1. Radioactive Diagnostic Agent Market - Overview
    1.1 Definitions and Scope
2. Radioactive Diagnostic Agent Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by Application
    2.4 Key trends by Geography
3. Radioactive Diagnostic Agent Market – Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split- Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis – Average Selling Price
4. Radioactive Diagnostic Agent Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Radioactive Diagnostic Agent Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Radioactive Diagnostic Agent Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    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 – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Radioactive Diagnostic Agent Market – By Product Type (Market Size –$Million/$Billion)
    8.1 Radioisotopes
    8.2 Radiotracers
9. Radioactive Diagnostic Agent Market – By Application (Market Size –$Million/$Billion)
    9.1 Positron Emission Tomography
        9.1.1 Oncology
        9.1.2 Brain Function
        9.1.3 Drug Development
        9.1.4 Neuroimaging
        9.1.5 Others
    9.2 Single-Photon Emission Tomography
        9.2.1 Tumor Imaging
        9.2.2 Brain Imaging
        9.2.3 Thyroid Imaging
        9.2.4 Others
10. Radioactive Diagnostic Agent Market – By End User (Market Size –$Million/$Billion)
    10.1 Hospitals
    10.2 Diagnostic Imaging Centers
    10.3 Research Institutes
    10.4 Others
11. Radioactive Diagnostic Agent Market - By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.1 U.K.
        11.2.2 France
        11.2.3 Germany
        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 India
        11.3.3 Japan
        11.3.4 South Korea
        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 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Radioactive Diagnostic Agent Market - Entropy
13. Radioactive Diagnostic Agent Market – Industry/Segment 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
        13.1.4 Competition Matrix
        13.1.5 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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