Radiopharmaceuticals Market in US and Europe to Reach $5.4 Billion by 2015, According to New Report by Global Industry Analysts

Radiopharmaceuticals Market in US and Europe to Reach $5.4 Billion by 2015, According to New Report by Global Industry Analysts

Greater disease incidence, development of newer diagnostic agents, widespread awareness among practitioners and patients and continued breakthroughs, in research and clinical applications areas, will propel sales of radiopharmaceuticals in US and European markets to $5.4 billion by 2015.

San Jose, CA (PRWEB) February 18, 2009 -- The market for radiopharmaceuticals continues to gain momentum with heightened interest in therapeutic efficiency, acceptance and utilization of nuclear medicine equipment, as well as development of newer diagnostic and therapeutic agents. Besides oncology applications, the nuclear medicine field is presently exploring the possibility of extending the scope and functionality of radiopharmaceuticals to other disease applications such as infection imaging, nephrology and neurology applications.

Advancements in nuclear medicine technology is expected to represent a key strategic factor in opening up new clinical opportunities for radiopharmaceutical agents. Growth in Radiopharmaceuticals market (http://www.strategyr.com/Radiopharmaceuticals_Market_Report.asp) will be based on the development of new products, and robust demand for cardiology procedures, sales of oncology products, in particular, FDG for PET imaging. Establishment as well as expansion of FDG-PET reimbursement to all cancer types and also for non-oncology applications is expected to further boost the demand for radiopharmaceuticals.

The market for Diagnostic Radiopharmaceuticals (http://www.strategyr.com/Radiopharmaceuticals_Market_Report.asp) in United States is expected to grow steadily by 2012, as stated by a recent report published by Global Industry Analysts, Inc. Therapeutic Radiopharmaceuticals (http://www.strategyr.com/Radiopharmaceuticals_Market_Report.asp) market in the US will exhibit dynamic growth in response to rising efforts of companies in the development of their drug research pipeline. A surfeit of installations of PET and PET/CT diagnostic scanners is expected to boost the mature European radiopharmaceuticals market. Although regional markets offer scope for expansion, price sensitivity and unclear reimbursement policies act as a stumbling block for the European radiopharmaceuticals market.

Sales of FDG, the major PET radiopharmaceutical will continue to improve, enabling widespread use of PET scans. Increases in PET volume procedures are attributable to expanded usage of PET in oncology, novel PET radiopharmaceuticals in the research pipeline for specialized applications, efficient utilization of the NOPR and growth in cardiology applications. Closer collaborations between nuclear physicians and oncologists will help further the potential of nuclear medicine and will encourage conventional pharmaceutical companies to develop new and novel radioactive versions of available therapeutic products. Molecular imaging will increasingly be used in conjunct with therapy to determine optimum dosages, and thereby minimize side effects.

Key players dominating the US and European radiopharmaceuticals market include Actinium Pharmaceuticals Inc, Advanced Medical Isotope Corporation, Alseres Pharmaceuticals, Inc, Astellas Pharma US Inc, Bayer HealthCare Pharmaceuticals, Bio-Nucleonics Inc, Bracco Diagnostics Inc, Cardinal Health, Cell Therapeutics Inc, Cellectar LLC, Covidien Imaging Solutions, Cytogen Corporation, Draximage, GE Healthcare Limited, GlaxoSmithKline Plc, IBA Molecular North America Inc, Immunomedics Inc, Kimberly-Clark Inc, Lantheus Medical Imaging Inc, MDS Nordion, Molecular Insight Pharmaceuticals Inc, Peregrine Pharmaceuticals Inc, PETNET Pharmaceuticals Inc, Pharmalucence Inc, Triad Isotopes, Inc., among others.

The report titled "Radiopharmaceuticals: A US & European Market Report" published by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, key regional markets, product overview, product introductions/innovations, profiles of major players, and recent industry activity. The report analyzes market data and provides analytics in value sales for regions including the United States and Europe (France, Germany, Italy, UK, Spain, and Rest of Europe). The study also analyzes the radiopharmaceuticals market by the following product segments - Diagnostic Radiopharmaceuticals and Therapeutic Radiopharmaceuticals.

For more details about this research report, please visit http://www.strategyr.com/Radiopharmaceuticals_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

Telephone 408-528-9966

Fax 408-528-9977

Email press (at) StrategyR (dot) com

Web Site http://www.StrategyR.com

###

Contact Information Public Relations

Global Industry Analysts, Inc.

http://www.StrategyR.com/

(408) 528-9966