Global radiopharmaceuticals market to be valued at $12.2b by 2030

Its growth is attributed to a rise in cancer and cardiovascular diseases.

The global radiopharmaceuticals market is projected to reach $12.2b by 2030 at a compound annual growth rate of 10.3%, according to Research and Markets.

The sector’s expansion is attributed to the rising prevalence of cancer and cardiovascular diseases, developments in imaging technology, and a shift toward personalised medicine.

“Advanced imaging technologies like PET and SPECT improve diagnostic precision, whilst the incorporation of AI enhances the analysis of imaging results,” the report said.

Meanwhile, the growing elderly population and the increasing use of theranostics further contribute to market growth.

Support from government entities, increased investment in research and development, and favourable regulatory approvals drive innovation and help resolve supply chain challenges associated with short-lived radioisotopes.