PORTLAND, Oregon, July 7, 2016 /PRNewswire/ -- According to a new report published by Allied Market Research, titled, "World Radiopharmaceuticals Market - Opportunities and Forecasts, 2014-2022", the world radiopharmaceuticals market is expected to generate revenue of $8,207 million by 2022. The diagnostics segment held a dominant share in the world radiopharmaceuticals market in 2015, and is expected to maintain its lead during the forecast period. Asia-Pacific is projected to continue to dominate the market throughout the forecast period.

To know more about the report, visit the website at https://www.alliedmarketresearch.com/nuclear-medicine-radiopharmaceuticals-market

The world radiopharmaceuticals market is poised to grow at a significant pace, owing to growing demand for non-invasive techniques, availability of effective cancer treatment, and ability to observe the functioning of the organ from outside the body. Furthermore, increasing incidence of cancer & cardiovascular aliments, growing demand for alpha radio immunotherapy-based targeted cancer treatment, mounting call for nuclear imaging techniques, and advancements in radiotracers are expected to open new avenues in the world radiopharmaceuticals market. Factors that are expected to drive the use of radiopharmaceuticals include changing lifestyle, elevated levels of stress, and ability to identify various diseases sooner than other diagnostic tests. However, factors such as supply volatility & logistical challenges, stringent regulatory vigil, and competition from conventional diagnostic procedures are anticipated to impede the market growth.
The oncology segment contributed more than half of the market share in the overall radiopharmaceuticals market in 2015 and is expected to continue the same trend owing to perpetual rise in the number of cancer cases. The SPECT modality segment dominated the radiopharmaceuticals market in 2015, whereas the PET modality segment is anticipated to grow at a comparatively higher CAGR of 8.3% from 2016 to 2022. PET segment is driven by better quality of image and higher precision in diagnosis. Other reasons attributed to its sustained dominance are growing R&D activities especially in developing economies and widening scope of radiopharmaceutical applications such as thyroid, oncology, and bone pain palliation.

Key findings of the study:

Therapeutics segment is projected to be the fastest growing segment in the world radiopharmaceuticals market, registering a CAGR of 16.9% from 2016 to 2022.

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