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Growing Uptake in Cancer Diagnostics and Therapeutics Open New Frontiers in Radiopharmaceutical Market, Valuation Predicted to Touch ~US$ 5.4 Bn by 2027, TMR

- Increasing deployment of 99m Tc Isotope in disease diagnostic and other emerging applications of nuclear medicine to thrive on multi-disciplinary research

- Players aim at complying with stringent regulatory guidelines to develop new radiopharmaceuticals

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Transparency Market Research

Apr 14, 2021, 08:30 ET

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ALBANY, N.Y., April 14, 2021 /PRNewswire/ -- The use of radiopharmaceuticals as a therapeutic modality is gaining traction in neurology, oncology, and cardiology. The expanding array of radiopharmaceutical agents is enriching the arena of radiopharmaceutical therapy and advancing its use in metastatic cancer. The growing number of radiopharmaceuticals approved for therapy by the FDA is a key trend expanding the frontiers in radiopharmaceuticals market. The therapies show the combined efficacy of chemotherapy and targeted biologic therapy. The expanding avenue of nuclear medicine imaging for diagnosing, staging, and treating diseases is shaping the evolution of the radiopharmaceuticals market. Technetium – 99 is one of the prominent radiopharmaceuticals that have been adopted for panoply of diagnostic procedures, on the back of the availability of short-lived 99m Tc. 188Re is another radiopharmaceutical that is being utilized in numerous therapeutic applications. The emerging radiopharmaceutical therapy is opening new vistas in personalizing health care.

 The global radiopharmaceutical market is projected to garner a CAGR of ~4% during 2019 – 2027 and touch a valuation of ~US$ 5.4 Bn by the end of this period.

Request for Analysis of COVID-19 Impact on Radiopharmaceutical Market – https://www.transparencymarketresearch.com/covid19.php

Key Findings of Radiopharmaceutical Market Study

Strides by Nuclear Medicine to Open New Vistas in Therapeutics

Past few years have seen rapidly growing number of nuclear medicine procedures—millions of them are performed every year in the U.S. alone. The strides are evident in the growing use of positron emission tomography (PET) in diagnosing and evaluating medical conditions non-invasively, such as for cardiac, neurological, psychiatric and oncology disorders. Radiopharmaceuticals are being increasingly being adopted in the staging of various types of cancer. Notable of them are esophageal cancer, non-small-cell lung cancer, melanoma, and colorectal cancers. The advances in the radiopharmaceutical market have been notably engendered by rise in federal investments in multi-disciplinary research in nuclear medicine. Over the past five decades, a number of radionuclides have been tested by the research community for their potential in radiopharmaceutical therapy. Nuclear medicine has also opened new horizons for researchers pursuing personalised therapies for cancer.

Request Brochure of Radiopharmaceutical Market Report - https://www.transparencymarketresearch.com/brochure.php

Regulatory Compliance Key Aspect

The adherence to evolving regulatory frameworks notably by the FDA is a key aspect that shapes the growth of the radiopharmaceuticals market. Incumbent players and new entrants need to increasingly focus on these regulations while making a new product development or when they are mulling commercialization strategies. In this regard, stringent regulatory guidelines have also acted as impediment for companies in realizing the full potential of the market.

Growing Prospect in Drug Development Process

Traditional pharmaceutical companies are engaging in unlocking the potential of radiopharmaceuticals in disease diagnostics and therapeutics. The use of molecularly targeted radiopharmaceuticals has accelerated such research initiatives. The process of new drug development has been increasingly facilitated by the use of radiotracers as biomarkers in identifying new therapeutic targets. The wide use of targeted radiotherapeutics in treating rheumatoid arthritis, degenerative joint diseases, and heart disease is a case in point.

Purchase the Radiopharmaceutical Market Report - https://www.transparencymarketresearch.com/checkout.php

Radiopharmaceutical Market: Key Drivers and Future Avenues

  • The use better imaging techniques to meet patients' need is a key trend bolstering the adoption of medical automation technologies
  • Rise in healthcare spending, including in cancer institute and hospitals, in numerous emerging economies has boosted the prospects in the radiopharmaceutical market
  • The focus of healthcare systems to reduce the mortality in cancer patients is a key driver for the expanding use of radiopharmaceuticals
  • Expanding array of targeted radiopharmaceuticals is enriching the market landscape

Request for Custom Research - https://www.transparencymarketresearch.com/custom-research.php

Radiopharmaceutical Market: Key Industry Players

  • Jubilant Life Sciences
  • Philips
  • IBA Radiopharma Solutions
  • Bayer AG
  • Advanced Accelerator Application
  • Siemens Healthineers
  • Mallinckrodt
  • GE Healthcare

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Radiation Dose Management Market: https://www.transparencymarketresearch.com/radiation-dose-management-market.html

Nuclear Medicine Market: https://www.transparencymarketresearch.com/nuclear-medicine-market.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."

Browse More Upcoming Reports by Transparency Market Research: https://www.transparencymarketresearch.com/upcoming.htm

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected] 
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/radiopharmaceuticals-market.htm 
Website: https://www.transparencymarketresearch.com/

SOURCE Transparency Market Research

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