Radiopharmaceutical Market Will Surpass USD 5.78 Billion by 2026
According to the report, The global radiopharmaceutical market in 2019 was approximately USD 3.88 Billion. The market is expected to grow above a CAGR of 6.1% and is anticipated to reach over USD 5.78 Billion by 2026.
Radiopharmaceutical is a category of radio-compounds that are commonly used as agents for therapy and diagnosis. The radiopharmaceuticals are formed by injection, inhalation or swallowing into the body. This radioactive material is gathered in the body’s targeted regions. Gamma camera perceives the signal in this phase and heads this microscopic emission into an electrical signal. Through using a large number of measurements of these electrical signals one can infer the gamma-ray discharge record of the radioactive nuclei.
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Radiopharmaceutical is a formulation composed of radioactive substances such as radioisotopes, radionuclides, etc. Radiopharmaceuticals are used primarily for diagnostic and therapy purposes in clinical fields. The radiopharmaceutical has different shelf life depending on the parameters, including radiochemical stability, the radioisotope’s physical half-life, and the content of long-lived radionuclide impurities in the preparation being considered.
The radiopharmaceutical market is segmented based on type, application and region. On the basis of type segmentation, the market is classified into diagnostic, and therapeutic. Based on application, the market is segregated into neurology, oncology, thyroid, cardiology, and others.
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Some of the essential players operating in the radiopharmaceutical market, but not restricted to include Lantheus Medical Imaging, Inc., Cardinal Health Inc., GE Healthcare, Nordion, Inc., Eczacibasi-Monrol Nuclear Products, Bracco Imaging S.p.A, Nihon Medi-Physics Co., Ltd., and Advanced Accelerator Applications S.A, Curium, and Others.
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