Telehealth Is Fastest Growing Segment Fueling The Growth Of Oncology Radiopharmaceuticals Market

Oncology Radiopharmaceuticals Market


The global Oncology Radiopharmaceuticals Market is estimated to be valued at US$ 7351 Mn in 2023 and is expected to exhibit a CAGR of 45.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Oncology radiopharmaceuticals refer to a group of drugs which are used for both diagnostic as well as therapeutic purposes in cancer treatment. They contain radioactive isotopes which enable the visualization and treatment of cancer tissues. These drugs aid in detecting the specific locations of tumors and also help eliminate cancer cells with targeted radiation therapy. Approval of new radiopharmaceuticals, increasing prevalence of cancer and rising awareness regarding early diagnosis are driving the growth of this market.

Market key trends:
One of the key trends witnessed in the market currently is the rise in use of theragnostic radiopharmaceuticals. Theragnostics combines therapeutics and diagnostics into a single drug which allows personalizing treatments for patients. These radiopharmaceuticals help improve clinical outcomes by allowing providers to accurately diagnose the disease and simultaneously treat it with personalized radiation therapy. Research is ongoing to develop advanced theragnostic agents with improved tumor targeting ability and reduced side effects. Development of such innovative radiopharmaceuticals will strengthen personalized cancer care in the coming years.

Segment Analysis
The oncology radiopharmaceuticals market is segmented by product type, application, end user and region. By product type, the lutetium-177 segment is dominating the market and is projected to grow at the highest CAGR during the forecast period. Lutetium-177 has superior atomic and nuclear properties for targeted radionuclide therapy of cancer. It has a therapeutic ratio that makes it well suited for radiotherapy applications with good tumor targeting and dose delivery.

Key Takeaways
Global Oncology Radiopharmaceuticals Market Demand is expected to witness high growth, exhibiting a CAGR of 45% over the forecast period, due to increasing incidences of cancer worldwide.

Regional analysis - North America dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to growing adoption of nuclear medicine procedures and availability of advanced diagnostic technologies in the region. Asia Pacific is expected to be the fastest growing region during the forecast period owing to large patient pool and rising healthcare expenditure in the region.

Key players - Key players operating in the oncology radiopharmaceuticals market are Siemens Healthcare GmbH, Novartis AG, Curium, GE Healthcare, Lantheus Medical Imaging, Inc., International Isotopes, Inc., Nordion, Eckert & Zieger, Acrotech Biopharma, Blue Earth Diagnostics, Zionexa, Bayer AG, Jubilant Pharma Limited, and Cardinal Health.

Get More Insights on this Topic- https://www.newsstatix.com/oncology-radiopharmaceuticals-market-size-share-and-demand/

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