Albany, NY -- (ReleaseWire) -- 02/26/2014 -- The rise in aging population on a global scale with a decrease in the supply of the Tc-99 isotope has led to commotion in the radiopharmaceuticals market. The large number of nuclear reactors shutting down for maintenance and leakage problems has led to a decrease in the global supply of Mo-99. Additionally, demand has also increased from emerging markets like India and China due to a rise in healthcare awareness and disposable incomes. This has led to an enormous shortage of Mo-99, which is a precursor of Tc-99, used almost 90% of the times in nuclear imaging. This crisis has led to long waiting lists of patients to get these tests done, with some opting for other technologies for their diagnosis.
Furthermore, the decline in the supply of isotopes has led to a hike in the prices of these tests; as a consequence, they are affordable for only a few people, and would also require out-of-pocket expenditure. Every day, hospitals and clinics around the world use Tc-99 to perform over 100,000 diagnostic procedures. Thus, aging nuclear reactors causing their shutdown coupled with an increase in demand and limited supply has pushed the industry participants to opt for other radioisotopes and find a replacement for TC-99 on a global scale. The North American region is the largest market for radiopharmaceutical usage, followed by Europe and Asia-Pacific.
North America is the largest market globally for the use of medical isotopes. The region includes two countries, namely the US and Canada. Canada is the largest exporter of uranium and nuclear technology, which now forms the backbone of nuclear medicine and imaging studies. Europe is the second largest market for radiopharmaceuticals. The rise in the aging population, consequently leading to an increase in cardiovascular and neurological disorders, has propelled the growth of the Radiopharmaceuticals Market in this region. The Asia-Pacific region has been experiencing healthy growth in the radiopharmaceuticals market in countries like Japan, Taiwan, and Korea. Rise in aging population, urbanization, and increasing wealth in low and middle income countries like India and China have led to growth in the Asian region.
is a small treatment, which includes use of simple substances containing radioactive isotopes. While treating cancer, these radioactive agents are taken up in the cancerous area to destroy the affected tissues. It works effectively by targeting the areas in the body where the cancer is present. Individuals are suggested to intake radiopharmaceuticals only under the direct supervision of a doctor.
This report analyses the global scenario of the radiopharmaceuticals market, discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data, and forecasts the radiopharmaceuticals market size, production forecasts along with key factors driving and restraining the market.
The report also analyzes the radiopharmaceuticals market by generators and by further classifying them in terms of medical isotopes, their applications, end users and geographic distribution. The medical isotopes category covers major isotopes used in SPECT and PET imaging like technetium, thallium, gallium, rhenium, yttrium and others. The applications market is further classified into diagnosis and therapy. The end user analysis is done by bifurcation of the market into hospitals and outpatient diagnostic centers.
The geography market has been segmented into four major regions - North America, Europe, Asia-Pacific and Rest of the World (RoW). Some of the top radiopharmaceutical companies in the healthcare market are Covidien Plc, Nordion Inc., Lantheus Medical Imaging, IBA Group, Positron Corporation, Cardinal Health, Eckert & Ziegler among others.
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