The global nuclear medicine and radiopharmaceuticals market generated $4.7 billion U.S. (4.3 billion euros) in revenues in 2016 and is expected to grow at a compound annual growth rate of 9.3% to reach $7.3 billion (6.7 billion euros) by 2021, according to a new report from MarketsandMarkets.
The growth is being driven by factors such as the increasing use of SPECT and PET; advances in radiotracers and alpha radio immunotherapy-based targeted cancer treatment; as well as the rising incidence of cancer and cardiac ailments, according to the company. On the downside, growth is being held back by issues such as the short half-life of radiopharmaceuticals, stringent regulatory guidelines, and competition from conventional diagnostic procedures, the authors added.
