The Malaysian radiopharmaceutical market is on track for significant growth, projected to expand at a compound annual growth rate (CAGR) of 3.90% from 2024 to 2034. This growth is expected to be driven by groundbreaking scientific advancements and robust investments in the sector, aligning with global trends in radiopharmaceutical development.
A recent report from Future Market Insights (FMI) highlights the overall radiopharmaceuticals market, which is anticipated to achieve a valuation of USD 6,972.1 million by 2024. This market is poised for steady growth, with a projected CAGR of 3.40% between 2024 and 2034, potentially exceeding USD 11,635 million by the end of this period. The growing significance of radiopharmaceuticals in diagnostic imaging and targeted therapy underscores their critical role in modern healthcare.
“The anticipated growth of Malaysia’s radiopharmaceutical market reflects the increasing demand for innovative healthcare solutions,” said FMI. “As we continue to see advancements in technology and research, the radiopharmaceutical industry will be instrumental in enhancing diagnostic and therapeutic options available to healthcare providers.”
Key factors driving the growth of the radiopharmaceutical market in Malaysia include:
- Rising Incidence of Chronic Diseases: The increasing prevalence of chronic diseases such as cancer and cardiovascular conditions is driving demand for advanced diagnostic and therapeutic options.
- Technological Advancements: Ongoing innovations in radiopharmaceuticals are leading to more effective and safer treatment options, improving patient outcomes.
- Government Initiatives: Supportive government policies and investments in healthcare infrastructure are expected to boost market growth.
- Growing Awareness: Increased awareness among healthcare professionals and patients about the benefits of radiopharmaceuticals in diagnostics and treatment is expected to enhance market acceptance.
As the radiopharmaceutical market in Malaysia expands, stakeholders, including healthcare providers, researchers, and pharmaceutical companies, are urged to collaborate and invest in research and development to leverage the potential of this dynamic sector.
Radiopharmaceutical Insights in High Demand: Access Our Comprehensive Report for Key Trends and Information!
Competitive Landscape:
- GE Healthcare has partnered with NorthStar Medical Radioisotopes, LLC to produce and distribute iodine-123 (I-123) capsules across the US.
- Bracco Diagnostics Inc. has launched the ‘Bracco Mobile Isotope Service’ in collaboration with CardioNavix, LLC to enhance patient access to cardiac PET imaging.
- Jubilant Radiopharma signed a MoU with Navidea Biopharmaceuticals for the exclusive distribution of ‘Tilmanocept’ in the Americas.
- Bayer AG announced its acquisition of Noria Therapeutics Inc. and PSMA Therapeutics Inc. to expand its oncology portfolio.
- Norgine B.V. acquired Azanta A/S, adding Nimorazole and Angusta to its product line.
- Curium acquired MAP Medical to strengthen its European footprint.
- The US FDA approved Gallium 68 PSMA-11 (Ga 68 PSMA-11) as the first PET imaging drug for diagnosing prostate cancer in December 2020.
Key Companies in the Market:
- Bayer AG
- Bracco Imaging S.p.A.
- Cardinal Health, Inc.
- Eli Lilly and Company
- Curium Pharma
- Lantheus Holdings, Inc.
- Novartis AG
- Nordion (Canada) Inc.
- Jubilant Radiopharma
Market Segments:
By Radioisotope Type: Technetium-99, Fluorine-18, Iodine-131, Lutetium-177, Yttrium-90, Gallium-68, Gallium-67, Rubidium-82, Iodine-123, Iodine-125, Indium-111, Others.
By Application: Oncology, Cardiology, Gastroenterology, Neuroendocrinology, Neurology, Nephrology, Others.
By Source: Cyclotrons, Nuclear Reactors.
By End User: Hospitals, Diagnostic Imaging Centers, Ambulatory Surgical Centers, Cancer Research Institutes.
By Region: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa (MEA).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
