Rising Neurological Disorders Fueling Radiopharmaceutical Markets

The increasing prevalence of neurological disorders is fueling market expansion, as there is a shift towards manufacturing radiopharmaceuticals utilizing cyclotron technology. Yet, challenges arise due to issues with preparing and distributing radiopharmaceuticals. Technavio estimates that the global radiopharmaceuticals market will increase by USD 6.28 billion between 2024 and 2028. The market is projected to experience a compound annual growth rate of approximately 12.17% throughout the predicted timeframe.

The halt in the supply of radiopharmaceuticals from nuclear reactors has sparked conversations about creating these isotopes using different techniques. Cyclotrons have become a feasible option for producing radiopharmaceuticals in hospitals. Roughly 80% of the isotopes produced in cyclotrons can be used for medical purposes. These devices come with a range of benefits such as safety, minimal waste production, and low operational expenses.

Therefore, there exists a considerable market opportunity for radioisotopes produced by cyclotrons. Some important medical isotopes produced by cyclotrons are copper-64, gallium-67, iodine-123, and thallium-201. The global radiopharmaceuticals market is expected to grow during the forecast period due to the rising use of cyclotron-based radiopharmaceuticals.

The Radiopharmaceuticals Market is a crucial part of the healthcare sector, specializing in nuclear medicine and medical imaging technology. This sector serves a range of long-term illnesses, such as cancer and heart conditions, specifically in older adults.