The global radiopharmaceuticals market to grow at a CAGR of 9.02% during the period 2017-2021.
The report, Global Radiopharmaceuticals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is partnerships for development of radiopharmaceuticals. Some of the leading nuclear medicines and nuclear imaging companies are forming partnerships to solve long-standing radiopharmaceutical concerns in medical imaging and increase their market share. These partnerships will increase the production of low-cost radiopharmaceuticals, which will boost the growth of the market.
According to the report, one of the major drivers for this market is the rising burden of the neurological disorders. Neurological disorders are diseases that are related to the brain, spine, and the nerves. There are over 600 diseases of the nervous system, some of the most common diseases are epilepsy, Parkinson's disease, brain tumors, and stroke; while some of the less familiar ones include frontotemporal dementia.
Further, the report states that one of the major factors hindering the growth of this market is the shortage of radioisotopes. Mo-99 is a precursor of Tc-99, and its half-life is 66 hours, which after decaying, forms Tc-99. It emits gamma rays, which help clinicians create images for diagnosis and monitor the spread of disease. Tc-99 is used in more than 40 million imaging procedures globally, which covers around 72% of all procedures in nuclear medicine. However, shortage of few important radioisotopes such as Mo-99 has an adverse effect on the global radiopharmaceuticals market.