Radioactive agents are the nucleus of an unstable atom which emits
radiations such as alpha, beta, gamma and X-rays and loses its
energy. Radioactive diagnostic agents are mainly used to detect
abnormalities and malfunction of specific tissue or organ in a body.
Diagnostic techniques include medicine which are combined with
radiotracers, which emit gamma rays from radiotracers within the
body. These tracers are generally short half-lives isotopes linked to
chemical compounds which goes through specific physiological
processes. Radioactive agents are important in the diagnosis as well
as therapy of specific disease or defect in the body. Such
radioactive agents are majorly used in cancer therapy. Moreover,
number of biological studies are carried out with help of
radioisotopes such as molecular biology, cell biology and structural
biology. Radioactive agents are generally of two types: radioisotopes
and radiotracers. Radioactive diagnostic agent are extremely helpful
in the detection of internal organ complications. Radioisotopes are
also widely used in scientific research laboratories, to determine
metabolic processes in small animals as well as to study the
pharmacokinetics of drugs.
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Global radioactive diagnostic agent market has been segmented by
product, applications, end users and geography. In terms of product,
radioactive diagnostic agent has been categorized into radioisotopes
and radiotracers. Based on the application, radioactive diagnostic
agent market are segmented into single-photon emission computed
tomography (SPECT) and Positron emission tomography (PET).
Single-photon emission computed tomography is further sub-segmented
into tumor imaging, Infection imaging, thyroid imaging, bone
scintigraphy, internal organ functions, cardiac function and brain
imaging. Positron emission tomography is also further sub-segmented
into oncology, brain function, heart function, drug development,
pharmacokinetics studies, Infectious diseases detection, neuroimaging
and musculo-skeletal imaging. Moreover there are various other
applications of the diagnostic agents which depends on the disease
and illness of the patient.
Majorly radioactive agents are used to detect tumor and cancerous
cells and majorly used with positron emission tomography (PET). The
end user for the radioactive diagnostic agent market include
hospitals, nursing facilities, long term care centers, diagnostic
imaging centers, pharmaceutical companies, research centers and many
others.
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Geographically, radioactive diagnostic agent market is classified
into five regional markets, namely, North America (United States and
Canada), Europe (Germany, France, United Kingdom, etc.) and
Asia-Pacific (Australia, China, Japan, India, etc.), Latin America
and rest of the world. North America was observed as the largest
market, in terms of revenue for radioactive diagnostic agents. North
America was followed by Europe and is expected to register higher
growth. Emerging markets such as Asia Pacific, Latin America and the
Middle East and Africa are expected to record robust growth during
the forecast period 2016-2024 due to growing health care industry,
and aging population which consequently would lead to increased
patient population in these countries. India, China and Brazil are
expected to drive strong growth among the emerging countries, owing
to increasing investments by government bodies in order to enhance
healthcare facilities.
In addition, there are a number of factors that would affect the
growth of radioactive diagnostic agent market such as technological
advancement, awareness about health in developing countries and
increase in the number of cancer patients. The market is also
witnessing certain restraints, such as stiff competition among
existing radioactive diagnostics agent manufacturers, government
regulations for reduction of overall healthcare cost and subsequent
upswing in bulk purchasing through INHs and GPOs (Group Purchasing
Organizations).
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The major players operating in this market include GE healthcare,
Cardinal Health, Mallinckrodt, Eli Lilly and Company, Zevacor
Molecular, Navidea Biopharmaceuticals, Advanced Accelerator
Applications, Blue Earth Diagnostics Limited, Bracco Diagnostic Inc.,
Lantheus Medical Imaging, Inc., Jazz Pharmaceuticals and many others
significant players present worldwide.
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