Global Diagnostic Radiopharmaceuticals And Contrast Media Market Size By Product Type, By Application, By Procedure, By End-User, By Geographic Scope And Forecast
Report ID: 215448|No. of Pages: 202
Global Diagnostic Radiopharmaceuticals And Contrast Media Market Size By Product Type, By Application, By Procedure, By End-User, By Geographic Scope And Forecast
Diagnostic Radiopharmaceuticals And Contrast Media Market Size And Forecast
Diagnostic Radiopharmaceuticals And Contrast Media Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2024 to 2031.
Global Diagnostic Radiopharmaceuticals And Contrast Media Market Drivers
The market drivers for the Diagnostic Radiopharmaceuticals And Contrast Media Market can be influenced by various factors. These may include:
- Growing Prevalence of Chronic Illnesses: The need for diagnostic imaging procedures utilising radiopharmaceuticals and contrast media is fueled by the growing incidence of chronic illnesses, including cancer, cardiovascular diseases, and neurological disorders. These compounds are essential for the early identification, monitoring, and staging of illnesses.
- Technological Developments in Imaging Modalities: The demand for specialised radiopharmaceuticals and contrast media is driven by ongoing developments in medical imaging technologies, such as positron emission tomography (PET), single-photon emission computed tomography (SPECT), and magnetic resonance imaging (MRI). The market is growing in part because of new imaging agents with better safety, sensitivity, and specificity profiles.
- Growing Ageing Population: As the world’s population ages, the prevalence of age-related illnesses and ailments rises, increasing the need for diagnostic imaging tests. The diagnosis and treatment of several health problems in the elderly often necessitate imaging investigations, which sustains a market for radiopharmaceuticals and contrast media.
- Growing Investments in Healthcare Infrastructure: The growth of diagnostic imaging facilities worldwide is facilitated by public and private initiatives as well as healthcare infrastructure development projects. The opening of new imaging clinics, diagnostic facilities, and hospitals presents chances for the use of contrast agents and radiopharmaceuticals.
- Increasing Utilisation in Cardiology and Oncology: In oncology and cardiology, diagnostic imaging is essential for illness diagnosis, treatment planning, and therapeutic response monitoring. Due to the widespread use of radiopharmaceuticals and contrast media in these domains and the rising need for diagnostic imaging methods, these markets are expected to develop.
- Growing Adoption of Hybrid Imaging Systems: By providing combined anatomical and functional information, hybrid imaging systems—like PET-CT and SPECT-CT scanners—improve diagnosis accuracy. Since contrast media and radiopharmaceuticals are necessary for hybrid imaging procedures, their adoption raises the demand for them.
- Growing Healthcare Expenditure: The use of improved diagnostic imaging technology and related contrast agents is aided by the growth in healthcare spending, especially in emerging nations. Market expansion is facilitated by rising healthcare spending by governments, insurance companies, and individuals.
- Regulatory Approvals and Product Launches: By broadening product portfolios and filling unmet medical requirements, regulatory approvals for novel radiopharmaceuticals and contrast media formulations propel market growth. Businesses spend money on R&D to create novel imaging agents with enhanced safety and efficacy profiles.
- Increasing Emphasis on Personalised Medicine: The development of targeted imaging agents that are suited to specific patient characteristics and disease profiles is being driven by the movement towards personalised medicine and precision diagnostics. Growth in the market is fueled by this tendency, which encourages innovation in contrast media and radiopharmaceuticals.
- Technological Developments in Radiopharmaceutical Manufacturing: Automation, quality assurance, and production scaling up are examples of how these developments in technology have improved productivity and decreased expenses in the manufacturing of pharmaceuticals. These developments improve product availability and affordability, which supports market expansion.
Global Diagnostic Radiopharmaceuticals And Contrast Media Market Restraints
Several factors can act as restraints or challenges for the Diagnostic Radiopharmaceuticals And Contrast Media Market. These may include:
- Exorbitant Costs of Imaging Procedures: Radiopharmaceuticals and contrast media used in diagnostic imaging procedures can be costly, especially in areas with little access to healthcare or high out-of-pocket costs. Cost issues could restrict patients’ access to these treatments and have an impact on market expansion.
- Strict Regulatory Requirements: The regulatory approval procedures for contrast media and radiopharmaceuticals are lengthy and strict. Complying with regulatory standards, encompassing safety, effectiveness, and manufacturing prerequisites, augments the intricacy and expenses associated with product development and market penetration.
- Restricted Availability: Due to their short half-lives, radioisotopes used in radiopharmaceuticals must be produced in specialised facilities and distributed through specialised networks. Growth in the market may be hampered by shortages or interruptions in the supply of radioisotopes brought on by technical problems, legal difficulties, or geopolitical concerns.
- Radiation Exposure Concerns: Although diagnostic imaging has many advantages, patients’ and healthcare providers’ concerns about radiation exposure may restrict the use of contrast media and radiopharmaceuticals, particularly in specific patient populations like children and pregnant women.
- Competition from Non-Radioactive Imaging Agents: Non-radioactive contrast agents offer an alternative to radiopharmaceuticals and contrast media in imaging modalities like MRI and ultrasound. These compounds could provide benefits including improved tissue contrast and decreased radiation exposure, which would put the industry under pressure.
- Difficulties with Reimbursement: varying healthcare systems and insurance companies have varying reimbursement guidelines and coverage restrictions for diagnostic imaging procedures. Healthcare facilities may be deterred from providing specific imaging services by inadequate reimbursement rates or coverage limitations, which could have an effect on market demand.
- Ethical and Social Concerns: Concerns about radiation safety, informed consent, and patient privacy that arise from the use of radioactive materials in diagnostic procedures can have an impact on patient acceptance and healthcare provider practices, which may in turn have an impact on market expansion.
- Complexity of Imaging Interpretation: It takes specific knowledge and experience to interpret imaging tests that involve contrast agents and radiopharmaceuticals. Particularly in environments with limited resources, the difficulty of interpreting images may prevent some imaging modalities from being widely used or discourage medical professionals from providing these services.
- Limited Education and Awareness: The expansion of the diagnostic imaging market may be hampered by patients’ and healthcare professionals’ ignorance of the advantages and proper applications of these treatments. To raise awareness of the importance of contrast media and diagnostic radiopharmaceuticals in healthcare, educational programmes and awareness campaigns are required.
- The COVID-19 pandemic: Has caused significant disruptions to healthcare systems across the globe, resulting in decreased patient volumes, postponed elective treatments, and financial difficulties for healthcare providers. The need for diagnostic imaging services, particularly those using radiopharmaceuticals and contrast media, has been impacted by these causes.
Global Diagnostic Radiopharmaceuticals And Contrast Media Market Segmentation Analysis
The Global 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.
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 (MRI), 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 “Global 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.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Period | 2020-2022 |
| Key Companies Profiled | NTP Radioisotopes SOC Ltd, Bracco Imaging SpA, Bayer AG, GE Healthcare, Siemens Healthineers, Curium, Nordion Inc, Lantheus Holdings Inc, Cardinal Health Inc. |
| Segments Covered | By Product Type, By Application, By Procedure, By End-User, By Geography |
| Customization Scope | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET, BY PRODUCT TYPE
5.1 Overview
5.2 Technetium (Tc-99m)
5.3 Thallium (TI-201)
5.4 Gallium (Ga-67)
5.5 Iodine (I-123)
5.6 Fluorine-18 (18F- FDG)
6 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET, BY APPLICATION
6.1 Overview
6.2 Radiology
6.3 Interventional Radiology
6.4 Interventional Cardiology
6.5 Others
7 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET, BY PROCEDURE
7.1 Overview
7.2 X-ray/CT
7.3 Magnetic Resonance Imaging (MRI)
7.4 Ultrasound
7.5 Others
8 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET, BY END-USER
8.1 Overview
8.2 Hospitals
8.3 Research and Academics Institutes
8.4 Diagnostic Imaging Centers
8.5 Others
9 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET, BY GEOGRAPHY
9.1 Overview
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
9.5.1 Latin America
9.5.2 Middle East & Africa
10 GLOBAL DIAGNOSTIC RADIOPHARMACEUTICALS AND CONTRAST MEDIA MARKET COMPETITIVE LANDSCAPE
10.1 Overview
10.2 Company Market Ranking
10.3 Key Development Strategies
11 COMPANY PROFILES
11.1 NTP Radioisotopes SOC Ltd.
11.1.1 Overview
11.1.2 Financial Performance
11.1.3 Product Outlook
11.1.4 Key Developments
11.2 Bracco Imaging SpA
11.2.1 Overview
11.2.2 Financial Performance
11.2.3 Product Outlook
11.2.4 Key Developments
11.3 Bayer AG
11.3.1 Overview
11.3.2 Financial Performance
11.3.3 Product Outlook
11.3.4 Key Developments
11.4 GE Healthcare
11.4.1 Overview
11.4.2 Financial Performance
11.4.3 Product Outlook
11.4.4 Key Developments
11.5 Siemens Healthineers
11.5.1 Overview
11.5.2 Financial Performance
11.5.3 Product Outlook
11.5.4 Key Developments
11.6 Curium
11.6.1 Overview
11.6.2 Financial Performance
11.6.3 Product Outlook
11.6.4 Key Developments
11.7 Nordion Inc.
11.7.1 Overview
11.7.2 Financial Performance
11.7.3 Product Outlook
11.7.4 Key Developments
11.8 Lantheus Holdings Inc.
11.8.1 Overview
11.8.2 Financial Performance
11.8.3 Product Outlook
11.8.4 Key Developments
11.9 Cardinal Health Inc.
11.9.1 Overview
11.9.2 Financial Performance
11.9.3 Product Outlook
11.9.4 Key Developments
11.10 Guerbet Group
11.10.1 Overview
11.10.2 Financial Performance
11.10.3 Product Outlook
11.10.4 Key Developments
12 Appendix
12.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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