United Kingdom
radiopharmaceutical market is anticipated to witness an impressive growth during
the forecast period. This can be ascribed to the growing demand
for targeted therapy because it provides health benefits such as targeting
specific tumors, such as thyroid, lymphomas, or bone metastases along with
growing demand for diagnostic imaging as diagnosis of disease for health
benefits. Also, increasing demand for diagnostic Imaging & targeted
molecular imaging along with growing demand for personalized medicine and
therapeutic applications such as detection and diagnosis, staging and treatment
planning, radiation therapy and targeted radionuclide therapy is expected to
create a lucrative growth of United Kingdom radiopharmaceutical market during
the forecast period. According to a report during the past ten
years, the overall number of procedures conducted annually has climbed by 36%.
Planar imaging accounts for 73% of all nuclear medicine administrations, with
SPECT and PET contributing 165 and 2%, respectively. 7% of all nuclear medicine
administrations are for non-imaging diagnostic procedures, and 2% are for
therapy. Radiopharmaceuticals play a vital role in diagnostic imaging
techniques such as positron emission tomography (PET) and single-photon
emission computed tomography (SPECT) and can be designed to target specific
molecules or receptors in the body, enabling the visualization of specific
biological processes and disease markers. The rising prevalence of chronic
diseases, including cancer, cardiovascular disorders, and neurological
conditions, has contributed to the growth of United Kingdom radiopharmaceutical
market.
Increasing
Cases of Cancer & Heart Disease
The increasing
cases of cancer and heart disease in the United Kingdom have a significant
impact on driving the demand for radiopharmaceuticals. In the United
Kingdom, there are about 375,000 new cancer cases per year, around 1,000 cases
each day (2016–2018). There are more than 182,000 new cases of cancer in women
per year (2016–2018). and there are over 193,000 new cases of cancer diagnosed
in men each year (2016–2018) in the United Kingdom. Radiopharmaceuticals
are essential in diagnosing and staging various types of cancers. They are used
in imaging techniques such as positron emission tomography (PET) and
single-photon emission computed tomography (SPECT) to identify the presence,
location, and extent of tumors. With the rising incidence of cancer cases in
the United Kingdom, for accurate cancer diagnosis and staging continues to grow
the United Kingdom radiopharmaceutical market. Radiopharmaceuticals are used in
targeted radionuclide therapy for the treatment of cancer. Radioactive isotopes
combined with pharmaceutical agents can selectively deliver radiation to cancer
cells, minimizing damage to healthy tissues. As cancer cases increase, the
demand for radiopharmaceuticals used in therapeutic applications, such as
radioimmunotherapy and radionuclide therapy, increases.
For Metastatic prostate
cancer in bones Radium-223 dichloride (XofigoR) is used. For Thyroid
Cancer Sodium Iodide, I-131(HiconR) is used. For Adrenal Gland
Lobenguane Iodine-131 (LutatheraR) is used. Heart disease is a leading cause of
death in the United Kingdom. Radiopharmaceuticals are used in myocardial
perfusion imaging (MPI) for assessing blood flow and identifying areas of
reduced blood supply in the heart. In the United Kingdom there are 2.3 million
people living - around 1.5 million males and 830,000 women-live with CHD. A
stroke is twice as likely to occur in people with coronary heart disease or
those who have experienced a heart attack around 1 lakh people admitted in
hospital each year due to heart attack. MPI plays a critical role in
diagnosing coronary artery disease and determining treatment options, such as
angioplasty or bypass surgery. The increasing prevalence of heart disease
drives the United Kingdom radiopharmaceutical market.
Rising Awareness and
Adoption of Nuclear Medicine
The rising awareness and
adoption of nuclear medicine play a significant role in driving the growth of
the market. There are 252 nuclear medicine departments in the United Kingdom
and nearly 20 million procedure using radiopharmaceutical carried out annually
in the United Kingdom. Nuclear medicine techniques, such as positron
emission tomography (PET) and single-photon emission computed tomography
(SPECT), provide valuable insights into disease processes and enable accurate
diagnosis. PET had a considerably greater pooled mean sensitivity (92.6%
[95% Confidence Interval, 88.3% to 95.5%]) than SPECT (88.3% [95% Confidence
Interval, 86.4% to 90.0%]), according to a bivariate meta-analysis. (P=0.035).
As awareness about the capabilities of nuclear medicine grows among healthcare
providers and patients, there is an increased demand for these imaging
modalities, leading to growth of United Kingdom Radiopharmaceutical Market.
Nuclear medicine has
witnessed advancements in its applications beyond oncology. It is now being
utilized in cardiology, neurology, endocrinology, and other medical
specialties. As the awareness about the diverse applications of nuclear
medicine increases, there is a wider adoption of nuclear medicine techniques
and radiopharmaceuticals, there are around 130000 PET-CT scans performed
during the year 2019 leading to growth of United Kingdom
Radiopharmaceutical Market.
Nuclear medicine techniques,
combined with radiopharmaceuticals, facilitate personalized medicine
approaches. By providing functional and molecular information about diseases,
nuclear medicine enables tailored treatment plans and improved patient outcomes.
The growing awareness about personalized medicine and its benefits drives the
demand for nuclear medicine procedures and radiopharmaceuticals.
Developing Centralized
Pharmacies to Drive the Market
The Development of
centralized pharmacy system can drive the market. Most people go to a
drugstore at least once every 28 days. In England, prescription drugs were
dispensed in more than 1.1 billion times in 2014. This was an increase of 34.5
million over the previous year and an increase of 378.4 million over 2004.
Prescribed items had a total net ingredient cost of USD8.9 billion. In England,
89.9% of all things distributed were free of charge. Centralizing pharmacy
operations allows for streamlined processes, efficient inventory management, and
standardized practices. It eliminates duplication of efforts and reduces the
need for multiple smaller pharmacies in different locations. This increased
efficiency translates into cost savings and improved resource utilization,
driving the United Kingdom Radiopharmaceutical Market. Centralized pharmacy
systems can implement robust quality control measures, including regular
audits, inspections, and quality assurance programs. These measures ensure that
medications are stored, handled, and dispensed appropriately, minimizing the
risk of errors and ensuring medication safety.
Centralized pharmacy systems
enable better medication reconciliation processes during transitions of care,
such as hospital admissions, transfers, and discharges. This ensures that patients'
medication lists are accurate, up-to-date, and consistent across different
healthcare settings, minimizing the risk of medication discrepancies and
adverse events, driving the United Kingdom Radiopharmaceutical Market.
Centralized pharmacy systems can facilitate better communication and
collaboration among healthcare professionals involved in medication management
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Recent Development
In2021, the $3 billion ultrasound business at GE
Healthcare expands beyond diagnostics to include therapeutic and surgical
solutions. Significant synergies are anticipated to further boost BK Medical's
renowned company as it adds competence in the rapidly expanding advanced
surgical visualisation market.
In 2018, Alliance Medical Ltd acquires molecular
imaging firms at undisclosed able amount the united company will offer imaging
services, radiopharmacies, and cyclotrons, and is anticipated to improve access
to imaging agents for clinical trials as well as provide integrated biomarkers.
In 2014, Mallinckrodt acquire Questcor Pharmaceutical
in cash and stock valued at approximately USD5.8 billion this is done because
it will provide a strong and sustainable platform for future revenue and
earnings growth, and provide exceptional value for shareholders of both
Mallinckrodt and Questcor
Market
Segmentation
The United Kingdom
Radiopharmaceutical Market can be segmented by Type, Application, End User, and
region. Based on Type, the market can be segmented into
Diagnostic Radiopharmaceuticals, Therapeutic Radiopharmaceuticals. Based on
Application, the market can be grouped into Oncology, Cardiology, Neurology,
Others. Based on End User, the market can be grouped into Hospitals &
Clinics, Diagnostic Centers, Academic & Research Institutions, Others.
Market Players
GE Healthcare Ltd, Alliance Medical Ltd, Eckert &
Ziegler Radio pharma GmbH, IBA Molecular Ltd, Mallinckrodt Pharmaceuticals Plc,
Lantheus Medical Imaging Inc, Jubilant Radiopharma Inc, Sofie Biosciences
Inc/United Kingdom. are some of the leading players operating in the United
Kingdom Radiopharmaceutical Market.
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Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic
Data
|
2018 – 2021
|
|
Estimated
Year
|
2023
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Forecast
Period
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2024 – 2028
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|
Quantitative
Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments Covered
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Type
Application
End User
|
|
Regional
scope
|
Scotland,
South-East, London, South-West, Yorkshire & Humberside and East Midlands
|
|
Key
companies profiled
|
GE Healthcare Ltd, Alliance Medical Ltd, Eckert & Ziegler
Radio pharma GmbH, IBA Molecular Ltd, Mallinckrodt Pharmaceuticals Plc,
Lantheus Medical Imaging Inc, Jubilant Radiopharma Inc, Sofie Biosciences
Inc/United Kingdom.
|
|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and
purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, the United Kingdom
Radiopharmaceutical market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- United Kingdom Radiopharmaceutical Market, By Type:
o Diagnostic Radiopharmaceuticals
o Therapeutic Radiopharmaceuticals
- United Kingdom Radiopharmaceutical Market, By Application:
o Oncology
o Cardiology
o Neurology
o Others (Pharmaceutical Companies,
Ambulatory Centers etc.)
- United Kingdom Radiopharmaceutical Market, By End User:
o
Hospitals
& Clinics
o
Diagnostic
Centers
o
Academic
& Research Institutions
o
Others
(Pharmaceutical companies, Ambulatory Centers etc.)
- United Kingdom Radiopharmaceutical Market, By Region:
o
Scotland
o
South-East
o
London
o
South-West
o
Yorkshire
& Humber side
o East Midland
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present United Kingdom Radiopharmaceutical Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]