Global radiopharma market poised to expand

The global radiopharmaceuticals market could reach $5.5 billion U.S. (4.1 billion euros) by 2017, growing at a compound annual growth rate of 7.8%.

The forecast comes from the Organisation for Economic Co-operation and Development (OECD), which calculated the size of the global radiopharmaceuticals market at $3.8 billion (2.8 billion euros) in 2012. Among the factors fueling growth is the use of radiopharmaceuticals for neurological applications such as Alzheimer's disease, Parkinson's disease, and dementia.

The OECD report estimates that diagnostic procedures using technetium-99m are expected to increase by 15% to 20% in mature markets such as Europe, North America, Japan, and the Republic of Korea between 2010 and 2030.

In addition, radioisotopes such as radium-223 (Alpharadin, Bayer HealthCare Pharmaceuticals) and gallium-68 offer new potential for clinical applications, OECD noted.

North America is the dominant market for diagnostic radioisotopes, with a 49% share.

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