Growing Prevalence of Cancer and Cardiovascular Diseases is Expected to Drive the Growth of Asia-Pacific Radiopharmaceuticals Market

The growing prevalence of cancer and cardiovascular diseases in China is a significant driver of the radiopharmaceutical market. This trend is underpinned by several factors, including an aging population, rapid urbanization, lifestyle changes, and increasing exposure to risk factors such as pollution, smoking, and unhealthy diets. These conditions, particularly cancer and cardiovascular diseases, have become leading causes of mortality and morbidity in China, necessitating advanced diagnostic and therapeutic solutions. The increase in cancer cases has fueled the demand for precise diagnostic tools and effective treatment options, areas where radiopharmaceuticals have proven to be indispensable. Radiopharmaceuticals enable highly accurate imaging of tumors, which is crucial for early diagnosis, staging, and monitoring the effectiveness of treatment. In therapy, radiopharmaceuticals such as radioisotopes are used to target and destroy cancer cells with minimal damage to surrounding healthy tissue, offering a targeted approach that is less invasive and often more effective than traditional treatments. Cardiovascular diseases (CVDs) are another major health challenge in China, with heart disease and stroke being the leading causes of death.

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Data Bridge Market Research analyzes that the Asia-Pacific Radiopharmaceuticals Market is expected to reach USD 2.73 billion by 2031 from USD 1.76 billion in 2023, growing with CAGR of 5.7% during forecast period of 2024 to 2031.

Key Findings of the Study

• Advances in Radiopharmaceutical Research and Development

The ongoing research and development (R&D) in the field of radiopharmaceuticals is a pivotal driver of the market's expansion in China. With the convergence of technological innovation and scientific exploration, Chinese companies, alongside academic institutions and international partners, are at the forefront of this dynamic field. These collaborative efforts are not only enhancing the efficacy and safety profiles of existing radiopharmaceuticals but are also paving the way for the development of novel products that address unmet medical needs.

One of the key areas of focus in radiopharmaceutical R&D is the improvement of radiolabeling techniques. Radiolabeling, the process of attaching radioactive isotopes to molecules, is crucial for the accurate targeting of diseased tissues in diagnostic imaging and therapeutic applications. Chinese researchers are making significant strides in refining these techniques, resulting in more precise and effective radiopharmaceuticals

Report Scope and Market Segmentation

Segment Analysis

The  Asia-Pacific radiopharmaceuticals market is segmented into eight notable segments based on type, application, drug type, source, and end user.

• On the basis of type, the Asia-Pacific radiopharmaceuticals market is segmented into diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals

In 2024, the diagnostic radiopharmaceuticals segment is expected to dominate the Asia-Pacific radiopharmaceuticals market   

In 2024, the diagnostic radiopharmaceuticals segment is expected to dominate the Asia-Pacific radiopharmaceuticals market with a 56.17% market share due to the radiopharmaceuticals type gives precise diagnosis and accurate results.

• Based on application, the Asia-Pacific radiopharmaceuticals market is segmented into diagnostic and therapeutic

In 2024, the diagnostic segment is expected to dominate the Asia-Pacific radiopharmaceuticals market

In 2024, the diagnostic segment is expected to dominate the market with a market share of 53.64% due to the incidences are very high in this application type.

• Based on drug type, the Asia-Pacific radiopharmaceuticals market is segmented into generics and branded. In 2024, the branded segment is expected to dominate the Asia-Pacific radiopharmaceuticals market with a 59.38% market share
• Based on source, the Asia-Pacific radiopharmaceuticals market is segmented into nuclear reactors, cyclotrons, and others. In 2024, the nuclear reactors pharmacy segment is expected to dominate the Asia-Pacific radiopharmaceuticals market with a 44.40% market share
• Based on end user, the Asia-Pacific radiopharmaceuticals market is segmented into hospitals, diagnostic centers, cancer research institutes, ambulatory surgical centers, and others. In 2024, the hospitals segment is expected to dominate the Asia-Pacific radiopharmaceuticals market with a 37.54% market share

Major Players

Data Bridge Market Research analyses Cardinal Health (USA), Advanced Accelerator Applications (France), Lantheus (USA), Curium (France), GE HealthCare (USA) as major market players in this market. 

Market Development

• In October 2022, Cardinal Health was recognized by Forbes as one of America's Best Large Employers company 2022 through an independent survey taken by approximately 60,000 American employees working for U.S. companies. The company believes this will inspire them and will give motivation to their employees
• In December 2022, Novartis received the European Commission approval for Pluvicto as the first targeted radioligand therapy for treatment of prostate cancer. The company believes that this will help in advancing a broad portfolio of radioligand therapies to treat cancer
• In August 2024, Lantheus Holdings, Inc. (“Lantheus”), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today announced that Oliver Sartor, MD, Director of Radiopharmaceutical Trials and Professor of Medical Oncology at the Mayo Clinic in Rochester, Minnesota, will deliver an oral presentation, including additional clinical data from PNT2002’s initial December 2023 readout, during the European Society of Medical Oncology (ESMO) Annual Meeting in Barcelona on Sunday, September 15, 2024
• In April 2018, GE Healthcare signed agreement with HealthTrust to supply radiopharmaceuticals. The company believes that this agreement will help in expanding availability of products to a greater number of hospitals around the country to advance diagnostic capabilities
•  In July 2024, ANSTO and the University of Wollongong have developed a Quad-MOSFET device for real-time quality control in boron neutron capture therapy. This innovative tool enhances precision by distinguishing neutron energy levels, improving cancer treatment safety and effectiveness

Regional Analysis

Geographically, the countries covered in this market are China, Japan, Australia, South Korea, Singapore, India, Indonesia, Philippines, Malaysia, Vietnam, and rest of Asia-Pacific.

As per Data Bridge Market Research analysis:

China is expected dominant and fastest growing country in the Asia-Pacific radiopharmaceuticals market

China is expected to dominate and fastest growing country in the market due to the growing demand for radiopharmaceuticals in diagnostics and clinical use.

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