According to our latest study on “Radiopharmaceuticals Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Product Type, Application, and End User,” the market is projected to reach US$ 13,818.17 million by 2028 from US$ 7,550.74 million in 2021; it is expected to grow at a CAGR of 9.0% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the radiopharmaceuticals market is primarily attributed to the rising prevalence of chronic diseases, suitability of alpha radioimmunotherapy in targeted cancer treatment, and advancements in nuclear imaging techniques. However, short shelf-life of radiopharmaceuticals and availability of substitutes hinder the market growth.

The developments in the radiopharmaceuticals Market have been characterized as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as launches, expansion, enhancement as well as relocation. Inorganic growth strategies witnessed in the market were mergers & acquisitions, partnership, collaborations, alliance, and agreement & joint ventures. These activities have paved way for expansion of business and customer base of market players.

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Based on type, the radiopharmaceuticals market is bifurcated into diagnostic nuclear medicine and therapeutic nuclear medicine. The diagnostic nuclear medicine segment is holding a larger share of the market and is expected to register a higher CAGR during the forecast period. The market growth for this segmented can be attributed to the availability of diagnostic devices and ease offered by these devices for the diagnosis of various disorders. Moreover, increasing incidence of cardiac diseases, cancer, and neurological disorders is expected to fuel the demand for better diagnosis of these disorders. Radiopharmaceuticals provide better diagnostic information about the functioning of a specific organ, as it uses radiation.

Market leaders operating in the market have undertaken various organic growth strategies in the radiopharmaceuticals market. The radiopharmaceuticals market majorly consists of the players Cardinal Health, GE Healthcare, Curium, Lantheus Medical Imaging, Bayer AG, Bracco Imaging, Eczacýbaþý-Monrol Nuclear Products, Nordion, Advanced Accelerator Applications, and NTP Radioisotopes. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.

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