Global Radiopharmaceuticals Market to Grow at a CAGR of 9% by 2021: Rising Burden of the Neurological Disorders
According to the "Global Radiopharmaceuticals Market 2017-2021" report, the global radiopharmaceuticals market is to grow at a CAGR of 9.02% during the period 2017-2021.
The latest trend
gaining momentum in the market is partnerships for development of
radiopharmaceuticals. Some of the leading nuclear medicines and nuclear imaging
companies are forming partnerships to solve long-standing radiopharmaceutical
concerns in medical imaging and increase their market share. These partnerships
will increase the production of low-cost radiopharmaceuticals, which will boost
the growth of the market.
According to the
report, one of the major drivers for this market is the rising burden of the
neurological disorders. Neurological disorders are diseases that are related to
the brain, spine, and the nerves. There are over 600 diseases of the nervous
system, some of the most common diseases are epilepsy, Parkinson's disease,
brain tumors, and stroke; while some of the less familiar ones include
frontotemporal dementia.
Further, the
report states that one of the major factors hindering the growth of this market
is the shortage of radioisotopes. Mo-99 is a precursor of Tc-99, and its
half-life is 66 hours, which after decaying, forms Tc-99. It emits gamma rays,
which help clinicians create images for diagnosis and monitor the spread of
disease. Tc-99 is used in more than 40 million imaging procedures globally,
which covers around 72% of all procedures in nuclear medicine. However,
shortage of few important radioisotopes such as Mo-99 has an adverse effect on
the global radiopharmaceuticals market.
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Source: PR Newswire