Radiopharmaceuticals (also known as radioactive drugs) are drugs that contain radionuclides that emit radiation. The distribution of the radiopharmaceutical within the body is determined by the physiochemical properties of the drug, the stability of the radiolabel, the purity of the radiopharmaceutical preparation, the pathophysiologic state of the patient, and the presence or absence of interfering drugs. Dynamic and static images of the distribution of the radiopharmaceutical within the body can be obtained using a g-camera or another suitable instrument appropriate for the radiopharmaceutical being imaged-for example, positronemitting radiopharmaceuticals.
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Prominent companies influencing the Nuclear Medicine or Radiopharmaceuticals Market landscape include:
Actinium Pharmaceuticals Inc. (U.S.), Alliance Medical (U.K.), Avid Bioservices Inc(U.S.), Bayer Healthcare Pharmaceuticals (Germany), Bracco Diagnostics Inc. (Italy), Cardinal Health Inc. (U.S.), Ge Healthcare (U.S.), Ion Beam Applications S.A (Belgium), Jubilant Pharma (India), Lantheus Medical Imaging Inc. (U.S.), Medi-Radiopharma Ltd (Hungary), Nordion Inc. (Canada), Novartis/Advanced Accelerator Applications (France), Positron Corporation (U.S.), Radiopharm Theranostics Ltd. (U.S.), Curium (France), Eli Lilly And Company (U.S.), Fujifilm Toyama Chemical Co., Ltd. (Japan), Nihon Medi-Physics. Co. Ltd. (Japan), Samyoung Unitech (South Korea), Duchembio, Inc. (South Korea) and Other Major Players
Key Industry Developments in the Nuclear Medicine or Radiopharmaceuticals Market:
In March 2023, the International Atomic Energy Agency (IAEA) inked a pact with an 11-member consortium comprising Japanese universities and scientific institutions. This collaboration falls under the Rays of Hope initiative, aimed at fortifying the nuclear medicine workforce across Asia and the Pacific region.
In January 2023, NorthStar Medical Radioisotopes, a notable American pharmaceutical company, embarked on a strategic alliance with Inhibrx, Inc. The primary aim of this collaboration is the co-development and production of innovative radiopharmaceuticals meticulously crafted to combat cancer. Radiopharmaceuticals assume a pivotal role within the domain of medical imaging, serving the dual purpose of diagnosing and treating cancer, making this partnership a significant step in advancing cancer care.
In December 2022, Polarean Imaging Plc, a distinguished player in the medical imaging technology sector, achieved a momentous milestone by securing approval from the U.S. Food and Drug Administration (FDA) for Xenoview. This groundbreaking diagnostic radiopharmaceutical, intended for utilization alongside magnetic resonance imaging, is specifically tailored for evaluating lung ventilation in a broad spectrum of patients, encompassing both pediatric and adult populations.
In March 2022, pharmaceutical giant Novartis announced a momentous achievement – FDA's approval of Pluvicto. This groundbreaking drug is slated for treating adults grappling with an advanced form of cancer known as prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC).
Regional insights regarding the Nuclear Medicine or Radiopharmaceuticals Market are primarily covered in the region-specific sections, including:
- North America
- South America
- Asia Pacific
- Middle East and Africa
- Europe
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Market Segmentation Analysis is a crucial component, categorizing the Nuclear Medicine or Radiopharmaceuticals Market based on type, product, end-user, and more, facilitating a precise market description.
Market Segmentation:
By Product Type
- Diagnostic
- Therapeutic
By Modality
- Single-Photon Emission Computed Tomography (SPECT)
- Positron Emission Tomography (PET)
- Alpha Emitters
- Beta Emitters
- Brachytherapy
By Application
- Oncology
- Cardiology
- Neurology
By End User
- Hospitals
- Specialty Clinics
- Diagnostic Centers
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- Forward Perspective: Discover what is driving or inhibiting market growth from a forward-looking perspective.
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