What is Global Therapeutic Radiopharmaceuticals Market?
The Global Therapeutic Radiopharmaceuticals Market is a rapidly expanding sector within the healthcare industry. This market focuses on the development and distribution of radiopharmaceuticals, which are unique medicinal formulations containing radioisotopes. These are used in the diagnosis and treatment of a variety of diseases, including cancer. The use of radiopharmaceuticals in therapy has been recognized for its potential to provide targeted treatment, reducing the impact on healthy cells. This market is driven by advancements in technology, increasing prevalence of cancer, and the growing awareness of the benefits of radiopharmaceuticals in therapeutic procedures. The global market is further segmented based on type, application, end-user, and region, each of which plays a crucial role in the overall growth of the market.
Radium-223, Lutetium-177, Iodine-131, Other in the Global Therapeutic Radiopharmaceuticals Market:
Radium-223, Lutetium-177, and Iodine-131 are some of the key components in the Global Therapeutic Radiopharmaceuticals Market. Radium-223 is used in the treatment of bone metastases caused by prostate cancer. It works by mimicking calcium and targeting bone metastases, delivering a high dose of radiation to the cancer cells. Lutetium-177 is another important radiopharmaceutical used in targeted radionuclide therapy. It is used to treat neuroendocrine tumors and prostate cancer. Iodine-131, on the other hand, is used in the treatment of thyroid cancer. It is also used in the diagnosis of thyroid disorders. These radiopharmaceuticals have revolutionized the treatment of various diseases, offering a more targeted and effective approach.
Thyroid, Bone Metastasis, Lymphoma, Other in the Global Therapeutic Radiopharmaceuticals Market:
The Global Therapeutic Radiopharmaceuticals Market has found significant usage in the treatment of various conditions such as thyroid disorders, bone metastasis, lymphoma, among others. In thyroid treatment, radiopharmaceuticals like Iodine-131 are used to destroy thyroid cells, both cancerous and normal ones, without affecting other body tissues. For bone metastasis, radiopharmaceuticals like Radium-223 are used to deliver radiation directly to the cancer cells in the bones, reducing the damage to healthy cells. In the treatment of lymphoma, radiopharmaceuticals are used in combination with chemotherapy to enhance the effectiveness of the treatment. The use of radiopharmaceuticals in these areas has significantly improved patient outcomes, reducing side effects and improving the quality of life.
Global Therapeutic Radiopharmaceuticals Market Outlook:
The Global Therapeutic Radiopharmaceuticals Market has shown a promising outlook. In 2023, the market was valued at US$ 1771 million and is projected to reach US$ 4734 million by 2030, growing at a CAGR of 15.1% during the forecast period 2024-2030. This growth is impressive, especially when compared to the global pharmaceutical market, which is expected to grow at a CAGR of 5% over the next six years. The chemical drug market, on the other hand, is estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. The rapid growth of the Therapeutic Radiopharmaceuticals Market can be attributed to the increasing prevalence of cancer and the growing awareness of the benefits of radiopharmaceuticals in therapeutic procedures.
| Report Metric | Details |
| Report Name | Therapeutic Radiopharmaceuticals Market |
| Accounted market size in 2023 | US$ 1771 million |
| Forecasted market size in 2030 | US$ 4734 million |
| CAGR | 15.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Bayer, Novartis, China Isotope & Radiation, Dongcheng, Q BioMed, Curium Pharmaceuticals, Jubilant Radiopharma, Lantheus, Aurobindo Pharma, International Isotopes, Mundipharma |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
