Diagnostic Radiopharmaceuticals And Contrast Media Market Size And Forecast

Diagnostic Radiopharmaceuticals And Contrast Media Market size is growing at faster substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e., 2021 to 2028.

The rise in chronic disease, Technological developments, and increase in diagnostic application and support from governments are a few of the factors fueling the growth of the Diagnostic Radiopharmaceuticals And Contrast Media Market. The Global Diagnostic Radiopharmaceuticals And Contrast Media Market report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Diagnostic Radiopharmaceuticals And Contrast Media Market Definition

Diagnostic Radiopharmaceuticals And Contrast Media Market are molecules that contain a drug and a radioisotope that are targeted to a specific tissue or organ for the diagnosis and treatment of disorders like cancer, cardiovascular disease, and hyperthyroidism. Radiopharmaceuticals are widely utilized as biomarkers for certain molecular procedures that identify the beginning or progression of disease in a process known as molecular imaging.

Contrast media are used in medical imaging such as CT, PET/CT, MRI, and ultrasound to increase the quality of the image. Their value has long been acknowledged, as evidenced by their widespread use in radiology departments around the world.

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Global Diagnostic Radiopharmaceuticals And Contrast Media Market Overview

One of the key drivers of contrast media is technological advancements. Contrast media injectors have come a long way over the years, from manual injection systems to automated versions. The majority of market companies are concentrating their efforts on producing efficient injectors with expanded features such as contrast media flow control, patient safety, and cost reduction. Apart from that Increased usage of data management systems and maintaining optimal dosage in conjunction with quick medical imaging scanners. These qualities facilitate workflows, resulting in the growth of the Diagnostic Radiopharmaceuticals And Contrast Media Market. Another factor driving the growth of this market is awareness about the accurate diagnosis.

The rise in cancer and cardiovascular disease cases around the world highlights the need for a fast, accurate, and cost-effective diagnostic process. Because of their ease of administration and excellent accuracy, radioisotope-based molecular imaging methods are becoming more popular. Every day, radiopharmaceuticals are used in over 100,000 diagnostic procedures throughout the world. For nuclear imaging and therapy, the Australian Nuclear Science and Technology Organisation (ANSTO) projected that over 60 million doses of technetium-based radiopharmaceuticals were required globally.

Even though it has many key drivers there are few restraints that can affect the growth of this market. Radiation and its harmful effects are strongly intertwined with radioisotopes. The fear of radioactivity among patients and hospital administrators is likely to influence the rate of radiopharmaceutical uptake. As a result, the regulatory rules for the production, transportation, and storage of these molecules are highly severe, requiring strict manufacturing requirements, demanding FDA approval processes, supply chain efficiency, and safety handling precautions. Furthermore, concerns about radiopharmaceutical exposure and radiation overdose are two major considerations limiting the market.

Global Diagnostic Radiopharmaceuticals And Contrast Media Market: Segmentation Analysis

The Diagnostic Radiopharmaceuticals And Contrast Media Market are segmented on the on the basis of Product Type, Application, Procedure, End-User, And Geography.

Diagnostic Radiopharmaceuticals And Contrast Media Market, By Product Type

• Technetium (Tc-99m)
• Thallium (TI-201)
• Gallium (Ga-67)
• Iodine (I-123)
• Fluorine-18 (18F-FDG)

Based on Product Type, The market is bifurcated into Technetium (Tc-99m), Thallium (TI-201), Gallium (Ga-67), Iodine (I-123), Fluroine-18 (18F-FDG). Iodine (I-123) is the dominant segment as it offers better results in imaging techniques and it is easily available.

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Diagnostic Radiopharmaceuticals And Contrast Media Market, By Application

• Radiology
• Interventional Radiology
• Interventional Cardiology
• Others

Based on Application, The market is bifurcated into Radiology, Interventional Radiology, Interventional Cardiology, and Others. Radiology is the dominant segment and held the largest market share due to easy availability, cost-effectiveness and doesn’t require skilled doctors and can be used by specific technicians.

Diagnostic Radiopharmaceuticals And Contrast Media Market, By Procedure

• X-ray/CT
• Magnetic Resonance Imaging (MRI)
• Ultrasound
• Others

Based on Procedure, The market is bifurcated into X-ray/CT, Magnetic Resonance Imaging, Ultrasound and Others. X-ray/CT is the dominant segment as it is cheaper, easy availability and increasing number of accidents leading to bone fracture is fueling the growth of X-ray/CT scan even more.

Diagnostic Radiopharmaceuticals And Contrast Media Market, By End-User

• Hospitals
• Research and Academics Institutes
• Diagnostic Imaging Centers
• Others

Based on End-User, The market is bifurcated into Hospitals, Research and Academics Institutes, Diagnostic Imaging Centers and Others. Hospitals is the dominant segment as most of the patients are diagnosed in hospitals using Diagnostic Radiopharmaceuticals and Contrast Media. Now in urban areas all the hospitals are well equipped with Contrast media devices which is fueling the growth of this market even more.

Diagnostic Radiopharmaceuticals And Contrast Media Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, The Diagnostic Radiopharmaceuticals And Contrast Media Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is the dominant region for Diagnostic Radiopharmaceuticals And Contrast Media Market. The market in this area is driven by consistent technical advancements and rigorous research and development initiatives that result in the development of effective diagnostic radiopharmaceuticals and contrast media. Furthermore, the market for diagnostic radiopharmaceuticals and contrast media grew due to an increase in demand for the early diagnosis of numerous chronic illnesses, such as heart problems and cancer.

Key Players

The “Diagnostic Radiopharmaceuticals And Contrast Media Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are NTP Radioisotopes SOC Ltd, Bracco Imaging SpA, Bayer AG, GE Healthcare, Siemens Healthineers, Curium, Nordion Inc, Lantheus Holdings Inc, Cardinal Health Inc, Guerbet Group. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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