Asia-Pacific Radiopharmaceuticals Market Segmentation, By Type (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), Application (Diagnostic and Therapeutic), Drug Type (Generics and Branded), Source (Nuclear reactors, Cyclotrons, and others), End User (Hospitals, Diagnostic Centers, Cancer research institutes, Ambulatory surgical centers, and Others) - Industry Trends and Forecast to 2031.
Asia-Pacific Radiopharmaceuticals Market Analysis and Size
The Asia-Pacific corneal implants market is driven by several factors, including the increasing prevalence of corneal diseases, a growing aging population, advances in technology, increasing demand for minimally invasive procedures, rising awareness of corneal transplantation, government initiatives and funding, increasing adoption of hybrid and toric lenses, growing popularity of cross-linking procedures, expanding indications for corneal implants, and a competitive landscape that fosters innovation. These factors are collectively driving the demand for corneal implants, particularly in developed countries, as patients seek effective treatments for vision disorders and conditions such as keratoconus, Fuchs' dystrophy, and pseudophakic bullous keratopathy.
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.
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Billion
|
|
Segments Covered
|
Type (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), Application (Diagnostic and Therapeutic), Drug Type (Generics and Branded), Source (Nuclear reactors, Cyclotrons, and others), End User (Hospitals, Diagnostic Centers, Cancer research institutes, Ambulatory surgical centers, and Others)
|
|
Countries Covered
|
China, Japan, Australia, South Korea, Singapore, India, Indonesia, Philippines, Malaysia, Vietnam, and rest of Asia-Pacific
|
|
Market Players Covered
|
Cardinal Health, Advanced Accelerator Applications, Lantheus, Curium, GE HealthCare, Jubilant Radiopharma, (A Jubilant Pharma Company), Ansto, Eli Lilly And Company, Bayer AG, Siemens Healthcare Gmbh, China, lsotope & Radiation Corporation, Bracco, NTP, Eckert & Ziegler, Eczacıbaşı-Monrol, IBA Worldwide, BWX Technologies. Inc, Isotope JSC, Sterigenics U.S., LLC among others.
|
Market Definition
A Radiopharmaceuticals contains a radioactive substance in association with one or more ingredients and that is intended to diagnose, stage a disease, monitor treatment, or provide therapy.. Radiopharmaceuticals include a group of radioactive agents used for either diagnostic or therapeutic interventions. Radiopharmaceuticals are the pharmaceuticals that incorporate a radionuclide. Most radiopharmaceuticals are a combination of a radioactive nuclide or radionuclide, and a biologically active molecule or drug that acts as a carrier and determines localization and biodistribution.
Asia-Pacific Radiopharmaceuticals Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
The Growing Demand for Radiopharmaceuticals in Diagnostics and Clinical Use
Radiopharmaceuticals have become essential in helping to diagnose organs and treat pathological disorders. They are utilized in diagnostic imaging and radiotherapy. Diagnostic radiopharmaceuticals possess no pharmacological effects and their administration is also not considered to be associated with relevant clinical side effects.
The number of radiopharmaceuticals in clinical use is rapidly growing, thus, allowing the medical community better access to detail information on the characteristics of the different types of tumors. Radionuclides are also gaining importance by providing palliative and curative treatment for an increasing number of malignant diseases.
For instance,
- In February 2024 , According to the Article published by International Atomic Energy Agency, Radiopharmaceuticals are used in diagnosis by administering radioactive compounds that emit gamma photons, which penetrate the body and are detected by external cameras to produce images of target tissues or organs. These images help in detecting tumors, assessing organ function, and diagnosing conditions like cancer and cardiovascular diseases. Unlike X-rays, a waiting period is often required for the radiopharmaceutical to reach its target, enabling precise imaging
The Increasing Need for Pharmaceutical Products Across Varied Therapeutic Areas
The growing cases of new diseases across the globe are a major concern for healthcare providers. Pharma and biopharmaceuticals companies are putting in everyday effort to tackle the challenge associated with various diseases. The increasing interest of market players willing to provide a wide range of radiopharmaceuticals products to be used in a different formulation pushes the market growth.
The increasing disease prevalence which is related to age, population type, genetic inheritance, and chronic infectious disease spreading worldwide is the major factor owing to the increasing demand for radiopharmaceutical products. They have been described for the diagnosis of inflammatory chronic diseases and several peptides, receptor ligands and monoclonal antibodies have been radiolabeled which allows in-vivo visualization of inflammatory processes at a cellular and molecular level.
For instance,
- In February 2019, as per NCBI article, a number of recent developments suggest that radiopharmaceutical therapy is poised to emerge as an important and widely-recognized therapeutic modality which have the ability to deliver cytotoxic radiation to tumor cells without causing prohibitive normal tissue toxicity
Opportunity
The Rising Research and Development Expenditure of Radiopharmaceuticals
Technological advancements include enhancing the stability and strength of traditional pharmaceuticals. The biotechnology and pharma companies are continuously investing in research and development to offer innovative services for diagnostics as well as medications to the customers and enhance their market presence. Radiopharmaceuticals play a dynamic role in clinical development. While the diagnostic industry is in a constant state of fluctuation due to the implementation of new technologies in the market, the pharmaceutical and biotechnology industries continue to increase due to enhanced investment in radiopharmaceuticals companies along with mergers and acquisitions adoption of innovation in imaging technologies to support clinical trials for various diseases.
Restraint/Challenge
- Potential Risks Associated with Radiopharmaceuticals
Chronic inhalation exposure to uranium and radon in humans has been linked to respiratory effects, such as chronic lung disease, while radium exposure has resulted in acute leukopenia, anaemia, necrosis of the jaw, and other effects. The radioactive element radium looks like a calcium molecule which gets incorporated into areas of the body where bone turnover is high in amount such as areas of organs where cancer is growing, apart from this few procedural risks are also involved with the radiopharmaceuticals.
Recent Developments
• 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 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
Asia-Pacific Radiopharmaceuticals Market Scope
The Asia-Pacific radiopharmaceuticals market is segmented into eight notable segments based on type, application, drug type, source, and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the differences in your target markets.
Type
- Diagnostic Radiopharmaceuticals
- Therapeutic Radiopharmaceuticals
On the basis of type, the Asia-Pacific radiopharmaceuticals market is segmented into diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals.
Application
- Diagnostic
- Therapeutic
On the basis of application, the Asia-Pacific radiopharmaceuticals market is segmented into diagnostic and therapeutic.
Drug Type
- Branded
- Generics
On the basis of drug type, the Asia-Pacific radiopharmaceuticals market is segmented into generics and branded.
Source
- Nuclear Reactors
- Cyclotrons
- Others
On the basis of source, the Asia-Pacific radiopharmaceuticals market is segmented into nuclear reactors, cyclotrons, and others.
End User
- Hospitals
- Diagnostic Centers
- Cancer Research Institutes
- Ambulatory Surgical Centers
- Others
On the basis of end user, the Asia-Pacific radiopharmaceuticals market is segmented into hospitals, diagnostic centers, cancer research institutes, ambulatory surgical centers, and others.
Asia-Pacific Radiopharmaceuticals Market Regional Analysis/Insights
Asia-Pacific radiopharmaceuticals market is analyzed, and market size insights and trends are provided by based on type, application, drug type, source, and end user.
The countries covered in this market report are China, Japan, Australia, South Korea, Singapore, India, Indonesia, Philippines, Malaysia, Vietnam, and rest of Asia-Pacific.
China is expected to dominate in the Asia-Pacific market due to its large population, increasing healthcare spending, expanding pharmaceutical industry, growing consumer awareness, and demand for treatments, coupled with a developing healthcare infrastructure and a rising prevalence.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Radiopharmaceuticals Market Share Analysis
The Asia-Pacific radiopharmaceuticals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the Asia-Pacific radiopharmaceuticals market.
Some of the major players operating in the Asia-Pacific radiopharmaceuticals market are Cardinal Health, Advanced Accelerator Applications, Lantheus, Curium, GE HealthCare, Jubilant Radiopharma, (A Jubilant Pharma Company), Ansto, Eli Lilly And Company, Bayer AG, Siemens Healthcare Gmbh, China, lsotope & Radiation Corporation, Bracco, NTP, Eckert & Ziegler, Eczacıbaşı-Monrol, IBA Worldwide, BWX Technologies. Inc, Isotope JSC, Sterigenics U.S., LLC among others.
SKU-