Nuclear medicine/radiopharmaceuticals is expected to grow, owing to factors such as rising prevalence of chronic diseases, alpha radioimmunotherapy-based targeted oncology treatment and advancement in imaging technologies using radiopharmaceuticals play vital role in the growth of the radiopharmaceuticals market. However, the restraints such as short shelf-life of radiopharmaceuticals and availability of substitutes of radiopharmaceuticals are likely to impact the growth of the market in the forecast period.
A radiopharmaceutical is a drug, which can be used either for diagnostic or therapeutic purposes. Radiopharmaceuticals are radioisotopes that are bound to biological molecules that target specific tissues, organs, or cells within the human body. Radioisotopes emitting gamma rays are useful for diagnostic imaging where the radiation escapes the body. These rays are detected by a specific device, which is usually single-photon emission computed tomography (SPECT)/ positron emission tomography (PET) cameras.
The shelf-life or expiry date of a radiopharmaceutical preparation depends mainly on the half-life of the radioisotope, the radiochemical stability and the content of longer-lived radionuclide impurities in the preparation under consideration. Most of the radiopharmaceutical preparations contain radioisotopes with very short half-lives and such preparations have very short shelf-lives. These preparations require an expiry date and time to be indicated. For example, technetium based preparations and positron emission tomography (PET) preparations are generally intended to be used within less than 12 hours, or sometimes within few minutes of preparation. Hence, the short shelf-life of radiopharmaceuticals are expected to hinder the growth of the market in the future years.
Market share of Nuclear Medicine/Radiopharmaceuticals Market is dominated by companies like
· Cardinal Health
· IBA Worldwide
· GENERAL ELECTRIC
· Bayer AG
· NTP Radioisotopes SOC
· Lantheus Medical Imaging
· Advanced Accelerator Applications