Radiopharmaceuticals (Global Market)

Radiopharmaceuticals are diagnostic or therapeutic agents containing radioactive nuclides. They are used for biomedical research, radioisotope diagnosis and treatment of various diseases, mainly for radiation therapy of malignant tumors.

2024

Global Radiopharmaceutical Market Growth of 5.5% to $6.81 Billion

In 2024, costs in the global radiopharmaceutical market reached $6.81 billion. For comparison, a year earlier, expenses amounted to $6.45 billion. Thus, growth was recorded at 5.5%. This is stated in the Market Research Future review, which Zdrav.Expert got acquainted with in mid-May 2025.

Radiopharmaceuticals are special agents that include an unstable isotope that makes these drugs radioactive. Depending on the type of radiation that radioisotopes emit, the substances may be used in diagnosis or treatment. Such agents are used to visualize various organs, as well as to treat certain diseases, including malignant ones. Radiopharmaceuticals formations are injected into patients by injection or oral route, after which their action is monitored and analyzed using external medical devices and tests.

One of the main drivers of the market in question, the authors of the study call the increase in the prevalence of malignancies. According to the World Health Organization (WHO), in 2022, approximately 20 million new cases of cancer and about 9.7 million deaths caused by it were reported globally. Cancer has become one of the main causes of death among children and adolescents: 400 thousand minors are diagnosed with cancer every year. Experts believe that by 2040 the number of new cases of cancer worldwide will reach approximately 29.5 million (among all groups of the population).

Experts emphasize that early diagnosis plays a key role in the treatment of cancer. Due to the lack of quality diagnosis and treatment in the initial stages of the disease, low- and middle-income countries have significantly higher cancer mortality rates than rich states. Against this background, many large organisations, including the American Cancer Society and Cancer Research UK, are actively involved in programmes to promote research and development related to radiopharmaceutical therapies.

Technological advances, including the emergence of single-photon emission computed tomographs (SPECTs) and next-generation positron emission tomographs (PETs), play an important role in the development of the industry. Radiopharmaceuticals are also finding applications in the field of personalized medicine, which is gaining momentum.

Analysts distinguish the diagnostic, therapeutic and research areas of the use of radiopharmaceuticals. In 2024, the first of these areas accounted for $2.5 billion, the second - $2 billion. Research expenses - $2.31 billion. From a geographical point of view, North America is in the lead, where costs are estimated at $2.8 billion at the end of 2024. This is followed by Europe with $1.8 billion, and the Asia-Pacific region closes the top three with $1.5 billion. The contribution of South America amounted to $0.5 billion, the Middle East and Africa - to $0.21 billion. Significant players in the industry are named:

• Northstar Medical Radioisotopes;
• Bracco Imaging;
• Nordion;
• Advanced Accelerator Applications;
• United Imaging Healthcare;
• Lantheus;
• GE HealthCare;
• Cleveland Clinic;
• Novartis;
• Telix Pharmaceuticals;
• Bayer;
• Elekta;
• Cardinal Health;
• Siemens Healthineers;
• Itheon Pharmaceuticals.

Market Research Future analysts believe that in the future, the CAGR in the market under consideration will be 5.53%. As a result, by 2035, costs could increase to $12.3 billion.^[1]

Johnson & Johnson prostate cancer radiopharmaceutical leads to four deaths

At the end of May 2024, Johnson & Johnson released the results of the first phase of clinical trials of the radiopharmaceutical JNJ-6420, designed to treat prostate cancer. The drug has shown promising efficacy, but four patients treated with this therapy have died. Read more here.

2016: Market size of $4.8 billion

In February 2017, the analytical company Future Market Insights published the results of a study of the global radiopharmaceutical market. Its volume, as experts predict, will almost double in 10 years.

Future Market Insights estimates that global sales of radioactive drugs reached $4.8 billion in 2016. By 2026, the market will increase to $8.5 billion, and its average annual growth rate will be measured at 5.9%.

Radiopharmaceuticals

This rise will be ensured by the increasing importance of radioactive compounds for the treatment of cancer and cardiovascular disease. In addition, according to experts, the use of such drugs in oncological drugs is increasing, since research institutes have methods for using radioisotopes to prevent the development of malignant tumors, cells and tissues.

Analysts cite the short half-life of such products and the lack of certain rules and regulations necessary to establish commercial production of such products as barriers to the growth of the radiopharmaceutical market.

According to 2016 Future Market Insights, Siemens Healthineers is the largest manufacturer of radiopharmaceuticals. She will remain the leader in subsequent years and will have a market share exceeding 40%, researchers predict.

In regional consideration, the largest sales of radiopharmaceuticals are in North America. By 2026, the same region will take about 50% of global revenue on the market, and the second place will be taken by Western Europe with a drug turnover of $1.6 billion.^[2]

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