Report Description

The global nuclear pharmacy market is expected to show robust growth with an impressive CAGR in the forecast years 2024-2028, on the account of increasing demands of nuclear medicines. Specialized pharmacy unit demands for nuclear pharmaceutical products are driving the growth of the global nuclear pharmacy market in the upcoming five years. Radiopharmacology is also one of the major factors supporting the growth of the global nuclear pharmacy market in the next five years.

A nuclear pharmacy is a specialized pharmacy that is a storage house and distribution channel for nuclear medicines. They are also known as radio pharmacy which involves the preparation of radioactive material for the administration to patients diagnosed with specific diseases like cancer. The increasing instances of cancer and carcinogenic agents causing severe diseases require radioactive drugs to diagnose and treat specific diseases. The process of nuclear treatment involves a combination of radionuclide tracer with the pharmaceutical product such that easier diagnosis of the diseased location can be tracked biologically.

The nuclear pharmacy market refers to the segment of the healthcare industry that is involved in the production, preparation, and distribution of radiopharmaceuticals. Radiopharmaceuticals are drugs that contain radioactive isotopes and are used for various diagnostic and therapeutic purposes in nuclear medicine. The nuclear pharmacy market has grown significantly over the years, driven by factors such as an increasing incidence of cancer and cardiovascular diseases, the rising demand for nuclear medicine procedures, and the growing adoption of molecular imaging techniques. The market is also supported by technological advancements in radiopharmaceutical production and increasing government initiatives to promote the use of nuclear medicine.

The market is dominated by a few major players, including Cardinal Health, Curium, GE Healthcare, and Lantheus Medical Imaging. These companies offer a range of radiopharmaceutical products and services, including manufacturing, distribution, and imaging services. North America is the largest market for nuclear pharmacy, followed by Europe and Asia Pacific. The growth of the market in these regions is driven by factors such as increasing healthcare expenditure, the presence of a large patient population, and the availability of advanced healthcare infrastructure. However, the nuclear pharmacy market also faces some challenges, such as the high cost of radiopharmaceuticals, regulatory constraints, and the shortage of trained personnel. These factors could hamper the growth of the market in the coming years.


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Technological advancements in radiopharmaceuticals Drive the Market Growth

Technological advancements in radiopharmaceuticals have been a key driver in the growth of the nuclear pharmacy market. These advancements have led to the development of new radiopharmaceuticals and improved existing ones, resulting in more accurate and effective nuclear medicine procedures.

Some of the technological advancements in radiopharmaceuticals include:

Improved production methods: The development of new and improved production methods for radiopharmaceuticals has resulted in higher yields and improved quality. This has led to the development of new radiopharmaceuticals with shorter half-lives, higher specificity, and better imaging characteristics.

New imaging technologies: The development of new imaging technologies, such as PET-CT and SPECT, has improved the accuracy and sensitivity of nuclear medicine procedures. These technologies provide functional and metabolic information about the body, allowing for earlier and more accurate diagnosis of diseases.

Targeted therapies: Advances in molecular biology and genetic engineering have led to the development of targeted therapies that can specifically target cancer cells or other diseased tissues. These therapies use radiopharmaceuticals to deliver a therapeutic dose of radiation to the targeted tissue, resulting in fewer side effects and better outcomes.

Automation and robotics: The use of automation and robotics in radiopharmaceutical production has led to increased efficiency, safety, and consistency in the production process. This has enabled the production of radiopharmaceuticals on a larger scale and at a lower cost.

Improved imaging agents: Advances in imaging agents have led to the development of new agents that can target specific molecular markers associated with disease. These agents can be used to diagnose and monitor the progression of diseases such as cancer, Alzheimer's disease, and Parkinson's disease.

Increasing Instances of Cancer Drives Market Growth

The increasing incidence of cancer is one of the major factors driving the growth of the nuclear pharmacy market. Cancer is one of the leading causes of death worldwide, and nuclear medicine plays a critical role in the diagnosis, treatment, and management of various types of cancers. Radiopharmaceuticals are used in nuclear medicine procedures such as PET-CT scans, SPECT scans, and radioimmunotherapy to detect and treat cancer. These procedures help in accurate cancer diagnosis, staging, and monitoring of treatment response, leading to better patient outcomes. Moreover, the increasing prevalence of cancer globally has led to a growing demand for radiopharmaceuticals, which is expected to further boost the growth of the nuclear pharmacy market. According to the World Health Organization (WHO), cancer is expected to be the leading cause of death globally, with an estimated 12.7 million deaths in 2020. In addition to cancer, radiopharmaceuticals are also used in the diagnosis and treatment of various other diseases, such as cardiovascular diseases, neurological disorders, and bone diseases. This wide range of applications is also driving the growth of the nuclear pharmacy market.

Moreover, as per World Health Organization (WHO) approximately 10 million deaths, or nearly one in six deaths, will be caused by cancer in 2020, making it the top cause of death globally. Countries like Australia, New Zealand, and Ireland is some of the top-most countries that register the largest population of cancer-suffering patients. The use of tobacco, having a high body mass index, drinking alcohol, sedentary lifestyle, are the cause of cancer in one-third of cancer-related fatalities. Moreover, in low- and lower-middle-income nations, cancer-causing viruses including the human papillomavirus (HPV) and hepatitis are to blame for 30% of cancer cases. Hence, the rising number of cancer patients globally is driving the growth of the global Nuclear Pharmacy market during the forecast period.

Since the diagnosis of the disease is very difficult, the disease often reaches extreme levels before getting diagnosed and treatment becomes difficult. Hence, the delay is cancer diagnosis and lack of access to effective treatment in developing and economically weak countries, is increasing the instances of cancer, and thus supporting the growth of the global nuclear pharmacy market in the future five years.

Advancing Nuclear Medicine Supports Market Growth

Consistent research and technological advancements are supporting the future growth of the global nuclear pharmacy market in future five years. Appropriate storage units, and maintaining conditions for cold storage and radioactive drugs, is a necessity for nuclear pharmacy set-up. Moreover, advancements and designer nuclear medicines is further aiding the growth of the global nuclear pharmacy market in the upcoming five years. Studies are also being carried out to enhance radiotherapy. Various cardiovascular diseases, thyroid diseases, respiratory diseases, bone diseases, and neurological diseases are treated via nuclear therapies, thus substantiating the growth of the global nuclear pharmacy market in the upcoming five years. Some examples of nuclear medicine are as follows:

  • Hafnium oxide nanoparticle NBTXR3 as a radio enhancer to improve the response of radiotherapy for soft-tissue sarcoma.
  • Rhenium-188 is one of the rarest radioactive particles that is used in cancer therapies to cure squamous cell carcinoma or basal cell carcinoma that are major skin cancer conditions.
  • Samarium-153 and Strontium-89 are radioactive isotopes that are used for palliative and chronic bone pain treatments.
  • Radioisotope of iodine, as Iodine-131-sodium iodide is utilized for hyperthyroidism and thyroid cancer conditions in humans. Radioactive isotopes sometimes cause severe side effects.

Rising Investment in Healthcare Industry

Government around the world are actively investing their resources and providing financial support to pharmaceutical companies to set up specialized nuclear pharmacies. The availability of nuclear pharmacies near cancer therapy centers is increasing. The demand for such nuclear pharmacies in remote locations and easily approachable for the larger population of the world is supporting the growth of the global nuclear pharmacy market in the upcoming five years. Moreover, government initiatives to promote medicines and healthcare awareness programs are expected to fuel the growth of the market during the forecast period.

Market Segmentation

The global nuclear pharmacy market is segmented on the basis of type, purpose, competitional landscape, and regional distribution. Based on type, the market is further fragmented into institutional, and commercial. On the basis of purpose, the market is bifurcated into diagnostic, and therapeutic. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.

Company Profiles

Jubilant Radiopharma (Jubilant Pharma Holdings Inc.), GE Healthcare, Cardinal Health, Inc., ARTMS Inc., AnazaoHealth Corp., SOFIE, Pacific Radiopharmacy, Ltd., Pacific Radiopharmacy, Ltd., NTP Radioisotopes SOC Ltd., Lantheus Medical Imaging, Inc., The Australian Nuclear Science and Technology Organization.  

Attribute

Details

Base Year

2020

Historical Data

2016 – 2019

Estimated Year

2021

Forecast Period

2022 – 2026

Quantitative Units

Revenue in USD Million, and CAGR for 2016-2020 and 2021-2026

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

  • Type
  • Purpose

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States, Mexico, Canada, China, India, Japan, South Korea, Malaysia, Australia, Germany, France, United Kingdom, Spain, Italy, South Africa, UAE, Saudi Arabia, Brazil, Argentina, Colombia

Key companies profiled

Jubilant Radiopharma (Jubilant Pharma Holdings Inc.), GE Healthcare, Cardinal Health, Inc., ARTMS Inc., AnazaoHealth Corp., SOFIE, Pacific Radiopharmacy, Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the global nuclear pharmacy market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Nuclear Pharmacy Market, By Type:
    • Institutional
    • Commercial
  • Nuclear Pharmacy Market, By Purpose:
    • Diagnostic
    • Therapeutic
  • Nuclear Pharmacy Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global nuclear pharmacy market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Nuclear Pharmacy Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, and Trends

4.    Voice of Customer

5.    Global Nuclear Pharmacy Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Institutional and Commercial)

5.2.2.     By Purpose (Diagnostic and Therapeutic)

5.2.3.     By Company (2022)

5.2.4.     By Region

5.3.  Product Market Map

6.    North America Nuclear Pharmacy Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type

6.2.2.     By Purpose

6.2.3.     By Country

6.3.  North America: Country Analysis

6.3.1.     United States Nuclear Pharmacy Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Type

6.3.1.2.2.             By Purpose

6.3.2.     Mexico Nuclear Pharmacy Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Type

6.3.2.2.2.             By Purpose

6.3.3.     Canada Nuclear Pharmacy Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Type

6.3.3.2.2.             By Purpose

7.    Europe Nuclear Pharmacy Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Purpose

7.2.3.     By Country

7.3.  Europe: Country Analysis

7.3.1.     France Nuclear Pharmacy Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Purpose

7.3.2.     Germany Nuclear Pharmacy Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Purpose

7.3.3.     United Kingdom Nuclear Pharmacy Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Purpose

7.3.4.     Italy Nuclear Pharmacy Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By Purpose

7.3.5.     Spain Nuclear Pharmacy Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type

7.3.5.2.2.             By Purpose

8.    Asia-Pacific Nuclear Pharmacy Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Purpose

8.2.3.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Nuclear Pharmacy Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Purpose

8.3.2.     India Nuclear Pharmacy Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Purpose

8.3.3.     South Korea Nuclear Pharmacy Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Purpose

8.3.4.     Japan Nuclear Pharmacy Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type

8.3.4.2.2.             By Purpose

8.3.5.     Australia Nuclear Pharmacy Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type

8.3.5.2.2.             By Purpose

9.    South America Nuclear Pharmacy Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Purpose

9.2.3.     By Country

9.3.  South America: Country Analysis

9.3.1.     Brazil Nuclear Pharmacy Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Purpose

9.3.2.     Argentina Nuclear Pharmacy Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Purpose

9.3.3.     Colombia Nuclear Pharmacy Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Purpose

10.  Middle East and Africa Nuclear Pharmacy Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By Purpose

10.2.3.  By Country

10.3.              MEA: Country Analysis

10.3.1.  South Africa Nuclear Pharmacy Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Purpose

10.3.2.  Saudi Arabia Nuclear Pharmacy Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Purpose

10.3.3.  UAE Nuclear Pharmacy Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Purpose

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Increasing Prevalence of Chronic Diseases.

11.1.2.  Technological Advancements in Various Treatments

11.1.3.  Surge in Research and Development

11.2.              Challenges

11.2.1.  High Cost of Treatment

11.2.2.  Side Effects of Drugs

12.  Market Trends & Developments

12.1.              Product Launches

12.2.              Mergers & Acquisitions

12.3.              Technological Advancements

13.  Clinical Trial Analysis

13.1.              Global Nuclear pharmacy Market: SWOT Analysis

14.  Market Trends & Developments

15.  Competitive Landscape

15.1.              GE Healthcare

15.1.1.  Business Overview

15.1.2.  Product Offerings

15.1.3.  Recent Developments

15.1.4.  Financials (In Case of Listed Companies)

15.1.5.  Key Personnel

15.1.6.  SWOT Analysis

15.2.              Jubilant Radiopharma (Jubilant Pharma Holdings Inc.)

15.3.              Cardinal Health, Inc.

15.4.              ARTMS Inc.

15.5.              AnazaoHealth Corp.

15.6.              SOFIE

15.7.              Pacific Radiopharmacy, Ltd.

15.8.              NTP Radioisotopes SOC Ltd.

15.9.              Lantheus Medical Imaging, Inc.

15.10.            The Australian Nuclear Science and Technology Organization

16.  Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Factors like the rising demand for radiopharmaceuticals in the neurological application, and the increasing prevalence of cancer and cardiovascular diseases are driving the growth of the global acne treatment market in the forecast years, 2024-2028.

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Jubilant Radiopharma (Jubilant Pharma Holdings Inc.), GE Healthcare, Cardinal Health, Inc., ARTMS Inc., AnazaoHealth Corp., SOFIE, Pacific Radiopharmacy, Ltd.

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Based on product type the market is divided into diagnostic products and therapeutic products. The therapeutic segment is expected to gain significant market share during the forecast period.

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In the regional segment, North America dominated the growth of the market. Owing to increased investment in R&D activities, a high volume of nuclear medicine procedures, and a strong healthcare infrastructure.

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Sakshi Bajaal

Business Consultant
Press Release

Nuclear Pharmacy Market to Grow Along with Increasing Tourism During the Forecast Period

Dec, 2021

Increasing demand for nuclear medicine is driving the growth in Global Nuclear Pharmacy Market in the forecast period, 2022-2026.