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Radiopharmaceuticals Market Forecast, 2020-2027

The global radiopharmaceuticals market was worth USD 4.31 Billion in 2020 and is further projected to reach USD 6.43 Billion by 2027, at a CAGR of 6.0% during 2021-2027 (forecast period).

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Radiopharmaceuticals Market Forecast, 2020-2027

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  1. Global Radiopharmaceuticals Market

  2. A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global radiopharmaceuticals Marketwas worth USD 4.31 Billion in the year 2020. It is estimated to grow at the CAGR of 6.0%, earning revenue of around USD 6.43 Billion by the end of 2027. Increasing chronic disorders like cancer and cardiovascular diseases across the world due to the aging population, unhealthy food habits contribute to the growth of the Radiopharmaceuticals Market. The high demand for nuclear medicines like single-photon emission computerized tomography (SPECT) and Positron emission tomography (PET) scans for cancer diagnosis and increasing patient awareness for accuracy of this method in the diagnosis led to the market growth. Growth Drivers High demand for early diagnosis in the event of cancer and cardiovascular chronic diseases The demand for radiopharmaceuticals is growing due to an increase in cancer cases and the increased use of medical imaging as a diagnostic technique. The radiopharmaceuticals market is fueled by a high demand for nuclear medicines such as SPECT and PET scans used for diagnosing diseases such as cancer and other chronic illnesses.

  3. Impact of COVID-19 in the industry The ongoing coronavirus-induced pandemic has affected almost every industry. This also has had a negative impact on nuclear medicine development, production, and supply, as well as the growth of the radiopharmaceuticals industry. COVID-19 has caused a lockdown in many countries, resulting in the closure of all industrial establishments except those that manufacture essential commodities. The supply chain for radiopharmaceuticals and diagnostic kits has also been disrupted as a result of the pandemic. Moreover, due to suppliers’ cost, and transportation issues, nuclear medicine manufacturers have been facing problems in obtaining cold kits used for simplifying radiopharmaceutical production. Sample Copy of the Report @https://www.blueweaveconsulting.com/radiopharmaceuticals-market-rd/report-sample

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