Radiopharmaceutical Manufacturing Market

Radiopharmaceutical Manufacturing Market (2nd Edition): Industry Trends and Global Forecasts, till 2035 - Distribution by Application Area (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), Type of Diagnostic Radiopharmaceutical (Positron Emission Tomography Radiopharmaceuticals and SPECT Radiopharmaceuticals), Type of Therapeutic Radiopharmaceutical (Alpha Emitters, Beta Emitters and Other Therapeutic Radiopharmaceuticals), Type of Radioisotope (Technetium-99m, Fluorine-18, Leutetium-177, Gallium-68, Actinium-225 and Other Radioisotopes), Purpose of Manufacturing (Contract Manufacturing and In-House Manufacturing), Source of Manufacturing (Nuclear Reactors and Cyclotrons), Scale of Operation (Preclinical, Clinical and Commercial), Therapeutic Area (Cardiovascular Disorders, Neurological Disorders, Oncological Disorders and Other Disorders) and Key Geographical Regions (North America, Europe, Asia-Pacific and Rest of the World)

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Radiopharmaceutical Manufacturing Market Overview

The global radiopharmaceutical manufacturing market is estimated to grow from $3.7 billion in 2024 to $9.0 billion by 2035, representing a CAGR of 8.4% during the forecast period 2024-2035. 

Radiopharmaceutical Manufacturing Market by Geography, 2024-2035 (USD Billion)

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The new research study consists of industry trends, detailed market analysis, partnerships and collaborations analysis, market impact analysis, gap assessment framework, market forecast and opportunity analysis. The radiopharmaceutical manufacturing market growth over the next decade is likely to be the result of rising prevalence of chronic diseases, ongoing technological advancements and rise in the demand for targeted radionuclide therapy.

Nuclear medicine is a medical specialty that involves the use of radiopharmaceuticals or radiotracers in which radioisotopes are bound to biological molecules that can target specific organs, tissues, or cells within the human body. Over the past few years, radiopharmaceuticals have been extensively used for various diagnostic and therapeutic procedures owing to their very short half life, specificity to targets and high affinity.

Currently, over 50 radiopharmaceuticals have been approved across the world, for the diagnosis and treatment of a myriad of chronic diseases, including infectious diseases, immunological disorders, gastroenteric diseases, cardiovascular disorders, oncological disorders, neurological disorders, and even certain psychiatric conditions. According to an article published by World Nuclear Association, more than 10,000 hospitals, worldwide, claim to use radioisotopes for various diagnostic and therapeutic procedures.

 It is worth highlighting that around 40 million diagnostic procedures are conducted, annually, which specifically utilize only one radioisotope, Technitium-99m. Typically, diagnostic tests are performed by using highly specialized imaging solutions, such as single photon emission computed tomography (SPECT) and positron emission tomography (PET). Further, the introduction of the concept of theranostics, which involves the usage of a single active ingredient for both diagnostic and therapeutic purposes, has opened a new era in patient centric treatment approach.

It is important to note that the development and production of radiopharmaceuticals is fraught with several challenges, including shortage of production capacity, complex manufacturing process, lack of skilled labor and stringent guidelines mandated by regulatory agencies. This has prompted the drug developers to outsource certain key operations (specifically the complex manufacturing processes) to contract service providers, which further helps to reduce cost and expediate the launch of their radioactive drug products to the market. Owing to the increasing research activity and ongoing technological advancements in the field of radiopharmaceuticals, along with the growing burden of chronic diseases, the radiopharmaceutical manufacturing market is anticipated to witness exponential market growth during the forecast period.

Radiopharmaceutical Manufacturing Market Share Insights

The market report presents an in-depth analysis of the various companies that are engaged in the radiopharmaceutical production, across different segments, as defined in the table below:

Radiopharmaceutical Manufacturing Market: Report Attributes / Market Segmentations

Key Report Attribute Details
Historical Trend 2019-2023
Base Year 2023
Forecast Period 2024-2035
Market Size Value in 2024 $ 3.7 Billion
CAGR 8.4%
Application Area
  • Diagnostic Radiopharmaceuticals
  • Therapeutic Radiopharmaceuticals
Type of Diagnostic Radiopharmaceutical
  • Positron Emission Tomography Radiopharmaceuticals
  • SPECT Radiopharmaceuticals
Type of Therapeutic Radiopharmaceutical
  • Alpha Emitters
  • Beta Emitters
  • Other Therapeutic Radiopharmaceuticals
Type of Radioisotope
  • Technetium-99m
  • Fluorine-18
  • Leutetium-177
  • Gallium-68
  • Actinium-225
  • Other Radioisotopes
Purpose of Manufacturing
  • Contract Manufacturing
  • In-House Manufacturing
Source of Manufacturing
  • Nuclear Reactors
  • Cyclotrons
Scale of Operation
  • Preclinical
  • Clinical
  • Commercial
Therapeutic Area
  • Cardiovascular Disorders
  • Neurological Disorders 
  • Oncological Disorders
  • Other Disorders
Key Geographical Regions
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
Key Companies Profiled
  • Advanced Accelerator Applications
  • Applied Molecular Therapies
  • Cardinal Health
  • DuChemBio
  • Eckert & Ziegler
  • Evergreen Theragnostics
  • Isotopia Molecular Imaging
  • ITM Isotope Technologies Munich
  • Nihon Medi-Physics
  • Nucleus RadioPharma
  • PentixaPharm
  • PharmaLogic
  • RadioMedix
  • SOFIE
  • Telix Pharmaceuticals

(Full list of 95+ companies and 115+ non-industry players captured is available in the report) 

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  • Market Landscape (Industry Players)
  • Market Landscape (Non-Industry Players)
  • Company Competitiveness Analysis
  • Partnerships and Collaborations Analysis
  • Gap Assessment Framework
  • Market Forecast and Opportunity Analysis

One of the key objectives of this market report was to estimate the current market size, opportunity and the future growth potential of the radiopharmaceutical production market, over the forecast period. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate for the market evolution during the forecast period 2024-2035. 

The market report also features the likely distribution of the current and forecasted opportunity within the radiopharmaceutical manufacturing market based on various parameters, such as application area (diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals), type of diagnostic radiopharmaceutical (Positron Emission Tomography radiopharmaceuticals and SPECT radiopharmaceuticals), type of therapeutic radiopharmaceutical (alpha emitters, beta emitters and other therapeutic radiopharmaceuticals), type of radioisotope (Technetium-99m, Fluorine-18, Leutetium-177, Gallium-68, Actinium-225 and other radioisotopes), purpose of manufacturing (contract manufacturing and in-house manufacturing), source of manufacturing (nuclear reactors and cyclotrons), scale of operation, therapeutic area and key geographical regions.

In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.

The opinions and insights presented in the market report were influenced by discussions held with stakeholders in the industry. The report features detailed transcripts of interviews held with the following industry and non-industry stakeholders:

  • Head of Business Unit Pharmaceuticals, Mid-sized Company, Austria
  • Senior Vice President of Business Development, Small Company, US
  • Former Vice President Quality / R&D, Large Company, US
  • Professor, Non-Industry, Greece
  • Retired Professor of Medical Imaging / Nuclear Medicine Physician, Non-Industry, Netherlands
  • Associate Director, Non-Industry, US 

Further, all actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.

Radiopharmaceutical Manufacturing Market Key Segments

 Market Share by Application Area

The global radiopharmaceutical manufacturing market is segmented into different application areas, such as diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals. It is worth highlighting that therapeutic radiopharmaceuticals are likely to grow at a relatively higher CAGR as compared to diagnostic radiopharmaceuticals, during the forecast period.

Market Share by Type of Diagnostic Radiopharmaceutical

The global radiopharmaceutical manufacturing market is segmented into different type of diagnostic radiopharmaceuticals, such as PET radiopharmaceuticals and SPECT radiopharmaceuticals. It is worth highlighting that PET radiopharmaceuticals are likely to grow at a relatively higher CAGR as compared to SPECT radiopharmaceuticals, during the forecast period.

Market Share by Type of Therapeutic Radiopharmaceutical

The global radiopharmaceutical manufacturing market is segmented into different type of therapeutic radiopharmaceuticals, such as alpha emitters, beta emitters and other therapeutic radiopharmaceuticals. It is worth highlighting that alpha emitters are likely to grow at a relatively higher CAGR as compared to beta emitters, during the forecast period.

Market Share by Type of Radioisotope

The global radiopharmaceutical manufacturing market is segmented into different type of radioisotopes, such as Technetium-99m radioisotope, Fluorine-18 radioisotope, Leutetium-177 radioisotope, Gallium-68 radioisotope, Actinium-225 radioisotope and other radioisotopes. It is worth highlighting that radiopharmaceutical manufacturing market for Actinium-225 radioisotope is likely to grow at a relatively higher CAGR during the forecast period.

Market Share by Purpose of Manufacturing

The global radiopharmaceutical manufacturing market is segmented into different purpose of manufacturing, such as contract manufacturing and in-house manufacturing. It is worth highlighting that radiopharmaceutical manufacturing market for contract manufacturing of radiopharmaceuticals is likely to grow at a relatively higher CAGR during the forecast period. 

Market Share by Source of Manufacturing

The global radiopharmaceutical manufacturing market is segmented into different sources of manufacturing, such as cyclotrons and nuclear reactors. It is worth highlighting that radiopharmaceutical manufacturing market for cyclotrons are likely to grow at a relatively higher CAGR during the forecast period. This can be attributed to the fact that cyclotrons offer numerous benefits, such as high specificity of the produced radionuclide, decentralized production, reduced generation of long-lived radioactive waste compared to nuclear reactors and lower investment requirements.

Market Share by Scale of Operation

This global radiopharmaceutical manufacturing market is segmented into different scales of operation, such as preclinical, clinical and commercial scale. Presently, the market is dominated by revenues generated from commercial scale radiopharmaceutical production and this trend (in terms of market share) is likely to remain same during the forecast period.

Market Share by Therapeutic Area

The global radiopharmaceutical manufacturing market is segmented into cardiovascular disorders, neurological disorders, oncological disorders and other disorders. The oncological disorder segment is estimated to occupy the highest share in 2024. This can be attributed to the rising prevalence of several cancers including breast cancer, lung cancer, colon cancer, rectum cancer and prostate cancer. However, neurological disorders segment is expected to witness substantial market growth in the coming years.

Market Share by Key Geographical Regions

The global radiopharmaceutical manufacturing market is segmented into different geographies, such as North America, Europe, and Asia-Pacific and rest of the world. According to our projections, North America is estimated to capture the majority share (50%) of the overall market, and this trend is unlikely to change in the future as well. However, the radiopharmaceutical production market in Asia-Pacific is expected to grow at a relatively higher CAGR (11.6%), during the forecast period, 2024-2035.

Radiopharmaceutical Manufacturing Market: Key Insights

The “Radiopharmaceutical Manufacturing Market (2nd Edition): Industry Trends and Global Forecasts, till 2035 - Distribution by Application Area (Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), Type of Diagnostic Radiopharmaceutical (Positron Emission Tomography Radiopharmaceuticals and SPECT Radiopharmaceuticals), Type of Therapeutic Radiopharmaceutical (Alpha Emitters, Beta Emitters and Other Therapeutic Radiopharmaceuticals), Type of Radioisotope (Technetium-99m, Fluorine-18, Leutetium-177, Gallium-68, Actinium-225 and Other Radioisotopes), Purpose of Manufacturing (Contract Manufacturing and In-House Manufacturing), Source of Manufacturing (Nuclear Reactors and Cyclotrons), Scale of Operation (Preclinical, Clinical and Commercial), Therapeutic Area (Cardiovascular Disorders, Neurological Disorders, Oncological Disorders and Other Disorders) and Key Geographical Regions (North America, Europe, Asia-Pacific and Rest of the World)” report features an extensive study of the current market landscape, market size and future opportunities associated with the radiopharmaceutical production market, during the given forecast period. The market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the radiopharmaceutical production industry. Key takeaways of the radiopharmaceutical manufacturing market report are briefly discussed below.

Growing Burden of Chronic Diseases

With the increasing global geriatric population, the incidence of several chronic diseases, such as cancer, cardiovascular disorders and diabetes are expected to rise. It is worth highlighting that cancer has emerged as a leading cause of death, with an estimated 10 million people succumbing to the disease worldwide in 2022. According to a report by the World Heart Federation, global deaths from cardiovascular disorders have increased from 12.1 million in 1990 to 20.5 million in 2021. Further, it is estimated that by 2050, chronic diseases will account for 86% of the 90 million annual deaths. This has led to a rise in the demand for effective diagnosis and treatment options for patients suffering from these diseases.

Competitive Landscape of Radiopharmaceutical Manufacturers

The current market landscape features the presence of over 215 industry and non-industry players that are engaged in the production of a variety of radiopharmaceuticals, including Positron Emission Tomography radiopharmaceuticals, SPECT radiopharmaceuticals, alpha emitters and beta emitters. Further, for the production of such radiopharmaceuticals, more than 190 manufacturing facilities have been established by these industry players, across different geographical regions. Additionally, the radiopharmaceutical manufacturing market research report features the presence of small, mid-sized, large, and very large companies having the required expertise to offer contract manufacturing services across the globe.

In addition, the companies in this domain have undertaken several initiatives, such as entering into partnerships, and expanding their existing capabilities and capacities, in order to cater to the increasing demand for radiopharmaceuticals. It is worth noting that, in May 2023, Fusion Pharmaceuticals, a US based drug developer established a cGMP facility in Ontario, Canada for the production of next generation targeted alpha therapies.

Radiopharmaceutical Manufacturing Market Trends: Increase in Partnerships and Collaborations Reflect the Rising Interest in this Industry

Companies engaged in radiopharmaceutical manufacturing have forged several partnerships in order to enhance their product and service portfolio. The growing preference for outsourcing radiopharmaceutical production operation is evident from the rise in partnership activity in the radiopharmaceutical manufacturing market. It is worth highlighting that, since 2019, over 270 strategic partnerships have been inked in the nuclear medicine and radiopharmaceutical manufacturing domain.

Notably, majority of the deals are focused on the supplying radioisotopes, followed by instances of mergers and acquisitions. It is worth highlighting that in January 2024, Eli Lilly and Company acquired Point Biopharma for USD 1.4 billion, in order to advance next-generation radioligand therapies for the treatment of various cancers . Further, in November 2023, Telix Pharmaceuticals, a mid-sized company acquired Lightpoint Medical for USD 35 million. This acquisition aligns with Telix's strategic vision to enhance its offerings and advance innovation in medical imaging technologies. We believe that such acquisitions in the radiopharmaceutical domain will drive the market growth during the forecast period.

Key Drivers of Radiopharmaceutical Manufacturing Market

The radiopharmaceutical manufacturing market growth can be attributed to the ever-increasing demand for advanced therapeutic modalities for the treatment of various chronic diseases. It is worth highlighting that more than 200 clinical trials are currently underway to investigate several radiotherapeutics for the treatment of a wide range of diseases, across different geographies.  This demonstrates the extensive development efforts being undertaken by stakeholders in this domain. The anticipated success of these drugs is likely to act as an impetus to the growth of overall radiopharmaceutical manufacturing market.

It is important to note that radiopharmaceuticals are highly complex and have a very short half life, and require advanced technologies, expertise and manufacturing facilities for their production, which are available with contract manufacturers. Therefore, in recent years, an increased inclination of drug developers towards outsourcing complex manufacturing operations has been observed, which is unlikely to change in the future.

Radiopharmaceutical Manufacturing Market Size

The global radiopharmaceutical production market is estimated to be worth USD 3.7 billion in 2024. The radiopharmaceutical manufacturing market growth is expected to be driven by the growing incidence of chronic diseases and rising demand for therapeutic modalities leading to a CAGR of 8.4%.

As the demand for radiopharmaceuticals is increasing, a number of big pharmaceutical companies are also entering this market, providing the necessary impetus for growth. Owing to the future potential in this market, numerous radiopharmacies have begun to offer contract development and manufacturing services for radiopharmaceuticals.

North America Holds the Largest Share of Radiopharmaceutical Manufacturing Market

Presently, 50% of the overall radiopharmaceutical production market is captured by North America. Further, it is worth highlighting that, owing to the rising demand for diagnostic and therapeutic radiopharmaceuticals, growing population, increasing incidence of chronic diseases and advancements in diagnostic imaging technology, market in Asia-Pacific is likely to grow at a higher CAGR as compared to other regions in the coming years.

Leading Companies in the Radiopharmaceutical Manufacturing Market

Examples of leading manufactures involved in the radiopharmaceutical manufacturing market (which have also been captured in this market report, arranged in alphabetical order) include Advanced Accelerator Applications, Applied Molecular Therapies, Cardinal Health, DuChemBio, Eckert & Ziegler, Evergreen Theragnostics, Isotopia Molecular Imaging, ITM Isotope Technologies Munich, Nihon Medi-Physics, Nucleus RadioPharma, PentixaPharm, PharmaLogic, RadioMedix, SOFIE and Telix Pharmaceuticals. This global market research report on radiopharmaceutical manufacturing includes an easily searchable excel database including all the companies that we identified are engaged in manufacturing of radiopharmaceuticals worldwide.

Radiopharmaceutical Manufacturing Market Report Coverage

The market report presents an in-depth analysis, highlighting the capabilities of various companies in this market, across different segments. Amongst other elements, the market report includes:

  • A preface providing an introduction to the full report, Radiopharmaceutical Manufacturing Market (2nd Edition), till 2035.
Radiopharmaceutical Manufacturing Market List Radiopharmaceutical Manufacturing Market Non Industry Players Radiopharmaceutical Manufacturing Market Competitiveness Analysis
  • An outline of the systematic research methodology adopted to conduct the study on radiopharmaceutical manufacturing, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
  • An overview of economic factors that impact the overall radiopharmaceutical manufacturing market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
  • An executive summary of the insights captured during our research. It offers a high-level view on the current state of radiopharmaceutical production market and its likely evolution in the mid-long term.
  • A general overview of nuclear medicine and radiopharmaceuticals, highlighting details on historical evolution and applications of radiopharmaceuticals. It also features information on various devices available for the production of radiopharmaceuticals. Further, the chapter discusses the regulatory framework associated with the manufacturing of radiopharmaceuticals. The chapter concludes  with featuring information on the growing need for outsourcing the manufacturing operations of such products.
  • A detailed overview of the current market landscape of companies engaged in radiopharmaceutical manufacturing domain, along with information on several relevant parameters, such as year of establishment, company size (in terms of number of employees), location of headquarters, type of company (contract development and manufacturing organizations, contract manufacturing organizations, contract research, development and manufacturing organizations, custom synthesis providers and in-house developers), location of manufacturing facilities, application area (diagnostic radiopharmaceuticals, therapeutic radiopharmaceuticals and theranostic radiopharmaceuticals), type of diagnostic radiopharmaceutical (positron emission tomography radiopharmaceuticals and SPECT radiopharmaceuticals), type of PET radiopharmaceutical (Fluorine-18, Gallium-68, Zirconium-89, Copper-64 and other PET radiopharmaceuticals), type of SPECT radiopharmaceutical (Technetium-99m, Iodine-123 / 131 / 125, Gallium-67, Indium-111, Thallium-201 and other SPECT radiopharmaceuticals), type of therapeutic radiopharmaceutical (alpha emitters, beta emitters, gamma emitters and others), type of alpha emitters (Actinium-225, Lead-212 and other alpha emitters), type of beta emitters (Leutetium-177, Iodine-131, Yttrium-90, Samarium-153 and other beta emitters), type of services offered (product synthesis / formulation, supply chain, quality control, regulatory support, production of cold-kits, analytical services, packaging, process development, consulting services, technology transfer, scale-up waste management, stability studies, purification, feasibility studies and other services), scale of operation (preclinical, clinical and commercial) and therapeutic area (oncological disorders, neurological disorders, cardiovascular disorders, autoimmune disorders, orthopaedic disorders, infectious diseases, renal disorders, inflammatory disorders, metabolic disorders and other disorders).
  • A detailed overview of the current market landscape of non-industry players engaged in radiopharmaceutical manufacturing domain, along with information on several relevant parameters, such as location of headquarters, type of organization (contract manufacturers, in-house developers and others), application area (diagnostic radiopharmaceuticals, therapeutic radiopharmaceuticals and theranostic radiopharmaceuticals), type of diagnostic radiopharmaceutical (positron emission tomography radiopharmaceuticals and SPECT radiopharmaceuticals), type of PET radiopharmaceutical (Fluorine-18, Carbon-11, Gallium-68, N13-Ammonia, Oxygen-15, Zirconium-89, Copper-64 and other PET radiopharmaceuticals), type of SPECT radiopharmaceutical (Technetium-99m, Iodine-123 / 131 / 125, Gallium-67, Thallium-201 and other SPECT radiopharmaceuticals), type of therapeutic radiopharmaceutical (alpha emitters, beta emitters and gamma emitters), type of beta emitters (Leutetium-177, Iodine-131, Samarium-153, Yttrium-90, Cobalt-60, Phosphorus-32, Rhenium-188, Strontium-89 and other beta emitters), purpose of manufacturing (preclinical studies, clinical studies and commercial) and therapeutic area (oncological disorders, neurological disorders, cardiovascular disorders, orthopaedic disorders, inflammatory disorders, metabolic disorders, autoimmune disorders, infectious diseases, mental health disorders and other disorders).
  • An insightful company competitiveness analysis of prominent companies engaged in the radiopharmaceutical production, based on several relevant parameters, such as company strength (in terms of years of experience and company size), portfolio strength (based on number of facilities, type of company, type of radiopharmaceutical manufactured, type of services offered and scale of operation) and application area.
  • Elaborate profiles of key companies (shortlisted based on a proprietary criterion) engaged in the radiopharmaceutical manufacturing market. Each profile features a brief overview of the radiopharmaceutical manufacturing companies, along with information on location of headquarters, year of establishment, number of employees, leadership team, financial information (if available), list of radiopharmaceuticals, location of manufacturing facilities, service portfolio (if applicable), recent developments and an informed future outlook.
  • A detailed analysis of the partnerships inked between stakeholders in radiopharmaceutical manufacturing market, since 2019, including supply agreements, mergers & acquisitions, distribution agreements, research and development agreements, commercialization agreements and other relevant agreement models adopted in this industry.
Radiopharmaceutical Manufacturing Market Company Profiles Radiopharmaceutical Manufacturing Market Initiatives Radiopharmaceutical Manufacturing Market Application Area
  • A detailed discussion on the supply chain model of medical isotope Mo-99 (Tc-99m), highlighting the key steps in the supply chain, including irradiation of uranium molecules in nuclear research reactors for the production of Technetium-99m. Further, the chapter concludes with discussing the future prospects in the industry.
  • A detailed assessment of various gaps in the radiopharmaceutical production industry that are currently preventing the overall market growth, including market gaps (economic infrastructure gap assessment, compliance assurance gap assessment and streamlined production gap assessment) and regional gaps (in terms of number of manufacturing facilities located across different regions for the production of diagnostic, therapeutic and theranostic radiopharmaceuticals).
  • An in-depth analysis of the factors that can impact the growth of radiopharmaceutical manufacturing market. It also features identification and analysis of key drivers, potential restraints, emerging opportunities, and existing challenges.
  • A detailed estimate of the current radiopharmaceutical manufacturing market size, opportunity and the future growth potential of the market over the next decade. Based on multiple parameters, likely adoption trends and through primary validations, we have provided an informed estimate on the market evolution during the forecast period 2024-2035. The report also features the likely distribution of the current and forecasted opportunity within the radiopharmaceutical production market. Further, in order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
  • A detailed projection of the current and future radiopharmaceutical manufacturing market, based on application area, such as diagnostic radiopharmaceuticals and therapeutic radiopharmaceuticals.
  • A detailed projection of the current and future radiopharmaceutical manufacturing market, based on type of diagnostic radiopharmaceutical, such as PET radiopharmaceuticals and SPECT radiopharmaceuticals.
  • A detailed projection of the current and future radiopharmaceutical production market, based on type of therapeutic radiopharmaceutical, such as alpha emitters, beta emitters and other therapeutic radiopharmaceuticals.
  • A detailed projection of the current and future radiopharmaceutical manufacturing market, based on type of radioisotope, such as Technetium-99m, Fluorine-18, Leutetium-177, Gallium-68, Actinium-225 and other radioisotopes.
  • A detailed projection of the current and future radiopharmaceuticals manufacturing market, based on purpose of manufacturing, such as contract manufacturing and in-house manufacturing.
  • A detailed projection of the current and future radiopharmaceutical production market, based on source of manufacturing, such as nuclear reactors and cyclotrons.
  • A detailed projection of the current and future radiopharmaceutical manufacturing market, based on scale of operation, such as preclinical, clinical and commercial.
  • A detailed projection of the current and future radiopharmaceuticals manufacturing market, based on therapeutic areas, such as cardiovascular disorders, neurological disorders, oncological disorders and other disorders.
  • A detailed projection of the current and future radiopharmaceutical production market, based on key geographical regions, such as North America, Europe, Asia-Pacific and Rest of the World.
Radiopharmaceutical Manufacturing Market Type of Radioisotope Radiopharmaceutical Manufacturing Market Scale of Operation Radiopharmaceutical Manufacturing Market Movement Analysis

Recent Developments In The Radiopharmaceutical Manufacturing Market

Several recent developments have taken place in the radiopharmaceutical production market, some of which have been outlined below.

  • In February 2024, Bristol Myers Squibb completed the acquisition of RayzeBio, a US based targeted therapeutic radiopharmaceutical developer. 
  • In June 2023, Telix Pharmaceuticals announced the inauguration of its new 2,800 square meter radiopharmaceutical production facility in Belgium, with an aim to increase the production capacity of medical isotopes and radiopharmaceuticals. 
  • In May 2023, Nucleus RadioPharma, a joint venture between Eclipse and Mayo Clinic, announced the opening of a new production facility in the US with an aim to manufacture next generation radiopharmaceuticals. 
  • In April 2023, McMaster University received USD 6.8 million from the government of Ontario, which the university plans to utilize for capacity expansion of its medical isotopes production facility. 

Author(s): Usama Bin Firoj, Prachi Bhalla

Frequently Asked Questions

Question 1: How big is the global radiopharmaceuticals market?

Answer: The global radiopharmaceuticals market is estimated to be worth USD 7.4 billion in 2024.

Question 2: How big is the radiopharmaceutical manufacturing market?

Answer: The global radiopharmaceuticals manufacturing market is estimated to be worth USD 9 billion in 2024.

Question 3: What is the estimated market growth for radiopharmaceutical manufacturing?

Answer: The radiopharmaceutical manufacturing market is estimated to grow at an annualized CAGR of 8.4%, during the forecast period.

Question 4: What is radiopharmaceutical manufacturing?

Answer: Radiopharmaceutical manufacturing is the process of producing radiopharmaceuticals through nuclear reactors or cyclotrons.

Question 5: How is a radiopharmaceutical prepared?

Answer: Preparation of radiopharmaceuticals includes irradiating a specific target with radioisotopes in nuclear reactors or cyclotrons, followed by tagging these radioisotopes onto molecules based on biological characteristics. The preparation process must adhere to strict quality control standards and validated procedures before administration in patients. Quality assurance is important to ensure the safety and efficacy of radiopharmaceuticals for medical use.

Question 6: Who prepares radiopharmaceuticals?

Answer: Radiopharmaceuticals are prepared by professionals in GMP radiopharmacy who follow stringent protocols to ensure the quality, safety, and effectiveness of these compounds for medical applications.

Question 7: What is the most popular radiopharmaceutical?

Answer: According to a report from the World Nuclear Association, Technetium-99m is most widely used radiopharmaceutical in nuclear medicine.

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