North America Radiopharmaceuticals Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Diagnostic Nuclear Medicine and Therapeutic Nuclear Medicine), Application (Oncology, Cardiology, Neurology, and Others), and End User (Hospitals, Imaging Centers, Academic and Research Centers, and Others)
Market Introduction
The North America radiopharmaceuticals market is analyzed on the basis of three major countries: the US, Canada, and Mexico. The US holds the largest size of the radiopharmaceuticals market. The market is expected to grow owing to the availability of advanced healthcare infrastructure, rising incidence and prevalence of target conditions and product innovations introduced by key players operating in the region. Targeted radiopharmaceuticals for therapeutic use deliver radionuclides directly to tumor anywhere in the body, and hence, have interest for clinical development in women with disseminated chemo refractory ovarian cancers. National Cancer Institute (NCI) used the prior experience from radiopharmaceutical clinical use in ovarian cancer for enhancing its thinking on conjugated radiopharmaceuticals that might be considered for chemorefractory ovarian cancer patient treatment in the future. The market growth is likely to contribute due to rising prevalence of the Alzheimer’s disease and other forms of dementia. The other factors are growing geriatric population and presence of the market leaders providing advanced radiopharmaceutical products, rising number of the hospitals, and other healthcare centers across the region.
In case of COVID-19, North America is highly affected especially the US. The COVID-19 pandemic has significantly impacted the US radiopharmaceutical market. As per the Society of Nuclear Medicine and Molecular Imaging (SNMMI), nearly 80% of respondents saw declines of 50%-75% in non-PET nuclear medicine procedures. In addition, it was also reported that COVID-19 had changed policies for radiopharmaceutical preparations in nuclear medicine (NM) departments by negatively impacting the regular operation of radio pharmacy labs. The COVID-19 has a potential economic impact on most of the sectors, including the oncology procedures. The pandemic has hindered cancer diagnosis and surgeries and is likely to negatively impact the market. The radiopharmaceuticals market in the US is expected to witness modest growth driven by an aging population, increases in health risk factors like poor lifestyle, and the adoption of new technology due to favorable regulatory changes. However, the overall market expansion will be hindered by a saturated installed base of large imaging systems and the consolidation of hospitals. Also, the pandemic has dramatically affected the activities in radio pharmacy laboratories globally. The pandemic affected scheduling criteria, with most staff encouraged to stay at home or observe the social distance. In many radio pharmacy labs, diagnostic imaging tests are quantitatively reduced, and certain imaging centers reduced their test procedures to almost half (18.2%). Thus, the market for radiopharmaceuticals region is expected to witness negative growth for a certain period of time.
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Market Overview and Dynamics
The North America radiopharmaceuticals market is expected to grow from US$ 3,296.97 million in 2021 to US$ 6,128.36 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. Many medical market players focus on emerging countries such as Mexico due to a rise in the prevalence of various diseases in these countries and low per capita income. Further, the prevalence of CVDs is rising significantly, which can be mainly attributed to the shift in lifestyle as well as the adoption of modern facilities. The modernization of residential, corporate, and commercial facilities is leading to reduction in physical activities, while the stress levels are continuously on the rise due to various factors related to livelihood. These conditions may trigger the possibility of developing CVDs among people, thus boosting the demand for various imaging instruments, including nuclear imaging techniques. Research organizations are engaged in the development of advanced diagnosis systems, including cost-effective and high-performance PET/SPECT systems. These developments are mainly aimed at extending their reach to remote areas where advanced medical IT facilities are not accessible. Emerging countries are spending heavily on the development of PET/SPECT machines to lower their costs as well as to offer hospitals and other medical organizations a better access to these machines. Countries in the region are significant targets for the companies to set up their financial operations and increase revenue generation through strategic planning such as mergers and acquisitions. Thus, several countries are offering significant opportunities to the market players to expand their reach and clientele, which will drive the North America market in coming years.
Key Market Segments
In terms of type, the diagnostic nuclear medicine segment accounted for the largest share of the North America radiopharmaceuticals market in 2020. In terms of application, the oncology segment held a larger market share of the North America radiopharmaceuticals market in 2020. Further, the hospitals segment held a larger share of the North America radiopharmaceuticals market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America radiopharmaceuticals market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Advanced Accelerator Applications; Bayer AG; Bracco Imaging S.p.A; Cardinal Health Inc; Curium; ECZACIBA?I MONROL NUCLEAR PRODUCTS CO.; GENERAL ELECTRIC; Lantheus Medical Imaging, Inc.; Nordion; and NTP RADIOISOTOPES.
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North America Radiopharmaceuticals Market Segmentation
North America Radiopharmaceuticals Market - By Type
- Diagnostic Nuclear Medicine
- SPECT
- PET
- Therapeutic Nuclear Medicine
- Alpha Emitters
- Beta Emitters
- Brachytherapy Isotopes
North America Radiopharmaceuticals Market - By Application
- Oncology
- Cardiology
- Neurology
- Others
North America Radiopharmaceuticals Market - By End User
- Hospitals
- Imaging Centers
- Academic and Research Centers
- Others
North America Radiopharmaceuticals Market - By Country
- US
- Canada
- Mexico
North America Radiopharmaceuticals Market - Company Profiles
- Advanced Accelerator Applications
- Bayer AG
- Bracco Imaging S.p.A
- Cardinal Health Inc
- Curium
- ECZACIBA?I MONROL NUCLEAR PRODUCTS CO.
- GENERAL ELECTRIC
- Lantheus Medical Imaging, Inc.
- Nordion
- NTP RADIOISOTOPES
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Radiopharmaceuticals Market – By Type
1.3.2 North America Radiopharmaceuticals Market – By Application
1.3.3 North America Radiopharmaceuticals Market – By End User
1.3.4 North America Radiopharmaceuticals Market– By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Radiopharmaceuticals Market– Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Experts Opinion
5. North America Radiopharmaceuticals Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Felicity of Alpha Radio Immunotherapy in Targeted Cancer Treatment
5.1.2 Growing Advancements in Nuclear Imaging Techniques
5.2 Market Restraints
5.2.1 Presence of Substitutes
5.3 Market Opportunities
5.3.1 Growth Potential in Several Countries
5.4 Future Trends
5.4.1 Rising Use of Nuclear Medicines for Personalized Treatment
5.5 Impact Analysis
6. Radiopharmaceuticals Market– North America Analysis
6.1 North America Radiopharmaceuticals Market Revenue Forecast and Analysis
7. North America Radiopharmaceuticals Market Analysis – By Type
7.1 Overview
7.2 North America Radiopharmaceuticals Market Revenue Share, by Type (2021 and 2028)
7.3 Diagnostic Nuclear Medicine
7.3.1 Overview
7.3.2 Diagnostic Nuclear Medicine: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 SPECT
7.3.3.1 Overview
7.3.3.2 SPECT: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
7.3.4 PET
7.3.4.1 Overview
7.3.4.2 PET: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Therapeutic Nuclear Medicine
7.4.1 Overview
7.4.2 Therapeutic Nuclear Medicine: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
7.4.3 Alpha Emitters
7.4.3.1 Overview
7.4.3.2 Alpha Emitters: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
7.4.4 Beta Emitters
7.4.4.1 Overview
7.4.4.2 Beta Emitters: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
7.4.5 Brachytherapy Isotopes
7.4.5.1 Overview
7.4.5.2 Brachytherapy Isotopes: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Radiopharmaceuticals Market Analysis – By Application
8.1 Overview
8.2 North America Radiopharmaceuticals Market Revenue Share, by Application (2021 and 2028)
8.3 Oncology
8.3.1 Overview
8.3.2 Oncology: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Cardiology
8.4.1 Overview
8.4.2 Cardiology: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Neurology
8.5.1 Overview
8.5.2 Neurology: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Radiopharmaceuticals Market Analysis – By End User
9.1 Overview
9.2 North America Radiopharmaceuticals Market Share, by End User, 2021 and 2028, (%)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Imaging Centres
9.4.1 Overview
9.4.2 Imaging Centres: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Academic and Research Centers
9.5.1 Overview
9.5.2 Academic and Research Centers: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Radiopharmaceuticals Market – Country Analysis
10.1 North America: Radiopharmaceuticals Market
10.1.1 Overview
10.1.2 North America: Radiopharmaceuticals Market, by Country, 2021 & 2028 (%)
10.1.2.1 US: Radiopharmaceuticals Market– Revenue and Forecast to 2028 (USD Million)
10.1.2.1.1 US: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.1.2 US: Radiopharmaceuticals Market, by Type, 2019–2028 (USD Million)
10.1.2.1.2.1 US: Radiopharmaceuticals Market, by Diagnostic Nuclear Medicine, 2019–2028 (USD Million)
10.1.2.1.2.2 US: Radiopharmaceuticals Market, by Therapeutic Nuclear Medicine, 2019–2028 (USD Million)
10.1.2.1.3 US: Radiopharmaceuticals Market, by Application, 2019–2028 (USD Million)
10.1.2.1.4 US: Radiopharmaceuticals Market, by End User, 2019–2028 (USD Million)
10.1.2.2 Canada: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.2.1 Canada: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.2.2 Canada: Radiopharmaceuticals Market, by Type, 2019–2028 (USD Million)
10.1.2.2.2.1 North America: Radiopharmaceuticals Market, by Diagnostic Nuclear Medicine, 2019–2028 (USD Million)
10.1.2.2.2.2 North America: Radiopharmaceuticals Market, by Therapeutic Nuclear Medicine, 2019–2028 (USD Million)
10.1.2.2.3 Canada: Radiopharmaceuticals Market, by Application, 2019–2028 (USD Million)
10.1.2.2.4 Canada: Radiopharmaceuticals Market, by End User, 2019–2028 (USD Million)
10.1.2.3 Mexico: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.3.1 Mexico: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
10.1.2.3.2 Mexico: Radiopharmaceuticals Market, by Type – 2019–2028 (USD Million)
10.1.2.3.2.1 Mexico: Radiopharmaceuticals Market, by Diagnostic Nuclear Medicine, 2019–2028 (USD Million)
10.1.2.3.2.2 Mexico: Radiopharmaceuticals Market, by Therapeutic Nuclear Medicine, 2019–2028 (USD Million)
10.1.2.3.3 Mexico: Radiopharmaceuticals Market, by Application, 2019–2028 (USD Million)
10.1.2.3.4 Mexico: Radiopharmaceuticals Market, by End User, 2019–2028 (USD Million)
11. Impact Of COVID-19 Pandemic on North America Radiopharmaceuticals Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Inorganic Growth Strategies
12.2.1 Overview
12.3 Organic Growth Strategies
12.3.1 Overview
13. Company Profiles
13.1 Cardinal Health Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Curium
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 GENERAL ELECTRIC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Lantheus Medical Imaging, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Bayer AG
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Bracco Imaging S.p.A
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 ECZACIBAI MONROL NUCLEAR PRODUCTS CO.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Nordion
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 NTP RADIOISOTOPES
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Advanced Accelerator Applications
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
Table 2. US Radiopharmaceuticals Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 3. US Radiopharmaceuticals Market, by Diagnostic Nuclear Medicine – Revenue and Forecast to 2028 (USD Million)
Table 4. US Radiopharmaceuticals Market, by Therapeutic Nuclear Medicine – Revenue and Forecast to 2028 (USD Million)
Table 5. US Radiopharmaceuticals Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 6. US Radiopharmaceuticals Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 7. Canada Radiopharmaceuticals Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 8. North America Radiopharmaceuticals Market, by Diagnostic Nuclear Medicine – Revenue and Forecast to 2028 (USD Million)
Table 9. North America Radiopharmaceuticals Market, by Therapeutic Nuclear Medicine – Revenue and Forecast to 2028 (USD Million)
Table 10. Canada Radiopharmaceuticals Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 11. Canada Radiopharmaceuticals Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 12. Mexico Radiopharmaceuticals Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Radiopharmaceuticals Market, by Diagnostic Nuclear Medicine – Revenue and Forecast to 2028 (USD Million)
Table 14. Mexico Radiopharmaceuticals Market, by Therapeutic Nuclear Medicine – Revenue and Forecast to 2028 (USD Million)
Table 15. Mexico Radiopharmaceuticals Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 16. Mexico Radiopharmaceuticals Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 17. Recent Inorganic Growth Strategies
Table 18. Recent Organic Growth Strategies
Table 19. Glossary of Terms
LIST OF FIGURES
Figure 1. North America Radiopharmaceuticals Market Segmentation
Figure 2. North America Radiopharmaceuticals Market Segmentation, By Country
Figure 3. North America Radiopharmaceuticals Market Overview
Figure 4. Diagnostic Nuclear Medicine Segment Held the Largest Share of the Market in 2021
Figure 5. The US to Show Significant Growth During Forecast Period
Figure 6. North America PEST Analysis
Figure 7. North America Radiopharmaceuticals Market Impact Analysis of Drivers and Restraints
Figure 8. North America Radiopharmaceuticals Market– Revenue Forecast and Analysis
Figure 9. North America Radiopharmaceuticals Market Revenue Share, by Type (2021 and 2028)
Figure 10. North America Diagnostic Nuclear Medicine: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America SPECT: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America PET: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Therapeutic Nuclear Medicine: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Alpha Emitters: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Beta Emitters: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Brachytherapy Isotopes: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Radiopharmaceuticals Market Revenue Share, by Application (2021 and 2028)
Figure 18. North America Oncology: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Cardiology: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Neurology: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Others: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Radiopharmaceuticals Market Share, by End User, 2021 and 2028 (%)
Figure 23. North America Hospitals: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America Imaging Centres: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Academic and Research Centers: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America Others: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. North America: Radiopharmaceuticals Market, by Key Country – Revenue (2021) (USD Million)
Figure 28. North America: Radiopharmaceuticals Market, by Country, 2021 & 2028 (%)
Figure 29. US: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
Figure 30. Canada: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
Figure 31. Mexico: Radiopharmaceuticals Market – Revenue and Forecast to 2028 (USD Million)
Figure 32. Impact of COVID-19 Pandemic in North American Country Markets
- Advanced Accelerator Applications
- Bayer AG
- Bracco Imaging S.p.A
- Cardinal Health Inc
- Curium
- ECZACIBA?I MONROL NUCLEAR PRODUCTS CO.
- GENERAL ELECTRIC
- Lantheus Medical Imaging, Inc.
- Nordion
- NTP RADIOISOTOPES
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America radiopharmaceuticals market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America radiopharmaceuticals market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the radiopharmaceuticals market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution