Automated Radiosynthesis Modules Market Size is Trending Worldwide due to Global Demand, Analysis and Forecast 2027
Automated Radiosynthesis modules drive the production of radiotracer for PET and SPECT (Single-Photon Emission Computed Tomography) imaging in decentralized settings.
Automated Radiosynthesis modules drive the production of radiotracer for PET and SPECT (Single-Photon Emission Computed Tomography) imaging in decentralized settings. These modules are user friendly, simple to set up, and offer scope of customized formulations of radiotracer for diagnostic and therapy administration, and hence their adoption will be increasing in near future.
North America accounted for the largest share in terms of both market revenues and unit volumes, whereas Asia-Pacific region is expected to witness fastest growth rate during the forecast period.
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Radiopharmaceuticals usage is increasing with rise in adoption of PET (Positron Emission Tomography) and SPECT (Single-Photon Emission Computed Tomography) techniques. The demand for PET and SPECT for diagnosis and therapy monitoring is high owing to increase in the mortality and morbidity rates of chronic diseases. To meet this growing need, production of scalable and effective radiotracer has become a necessity. Current production of radiotracer molecules is centralized and unfavorable for the end users. Favorable regulations are now opening the doors for production of radiotracer in decentralized settings driving the sales of automated radiosynthesis modules.
The global burden for chronic diseases is increasing worldwide at an alarming rate. To control this situation, the global healthcare industry focuses on early diagnosis of disease to provide prompt treatment. This will facilitate reducing the global burden of chronic diseases such as cardiovascular diseases, chronic obstructive pulmonary disorder, cancer, and others. Diagnostics tools such as PET and SPECT are adopted globally to reduce the rapidly increasing chronic diseases, which provide high-resolution quality imaging, simplifying the complex diagnosis process.
This equipment uses PET radiopharmaceuticals with short lifetime radioactive isotopes that are manufactured using fully automated radiosynthesis process. The radiopharmaceuticals are incorporated in the PET/CT/SPECT scanners to improve the utility of tomographic imaging diagnostics methods that are available commercially.
Key findings of the study:
- Over half of the automated radiosynthesis module market is concentrated in North America and expected to post modest growth from 2019 to 2027.
- Asia Pacific are expected to post fastest growth at a CAGR of 9.2% during the forecast period.
- In terms of volume, North American automated radiosynthesis module market is expected to grow with a CAGR of 6.4%.
- Cost of automated radiosynthesis modules in higher in Asia-Pacific compared to other regions.
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North America generates the largest revenue with around three-fifth share in world automated radiosynthesis modules. While Asia-Pacific is expected to post fastest growth at a CAGR of 9.2% during the forecast period. The growth is primarily attributed to the increasing footprint of the suppliers in the Europe and Asia-Pacific.
Few of the key market players include GE Healthcare, Siemens Healthcare GmbH, IBA Radiopharma Solutions, Optimized Radiochemical Application, Synthra GmbH, and Eckert & Ziegler Group.
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