SAUDI ARABIA AND MIDDLE EAST RADIOISOTOPE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Saudi Arabia and Middle East Radioisotope Market, By Radioisotopes (Molebdennum 99/Technetium-99, Iodine-131, Iodine-125, Yttrium-90, Strontium-89, Cesium-137, Cobalt-60, Iridium-192, Selenium-75, Lutetium 177, Germanium-68/gallium-68, Nickel-63, Copper-67, Scandium 47, Phosphorus-32, Holmium 166, Chromium 51, Samarium 153, Rhenium-188, Terbium-161, Radium -226, Rhenium-186, Actinium-225, and Others), By Application (Medical Application (Medical Imaging, Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET)), Radiation Therapy (Gamma radiotherapy, Brachytherapy, Targeted-Alpha-Therapy (TAT)), Clinical Research (Cell Biology, Drug Development, Metabolic Pathway Study) and Industrial Application (Inspection/Monitoring, Measuring, Quality Control and Testing, Sterilization, Food Preservation), By End User (Hospitals, Imaging Centers, Research Centers, Biopharmaceutical Companies, Food Industry, Chemical Industry, and Others)

Published In : Feb 2024
Code : CMI6672
Pages :250
Formats :
Excel and PDF
Industry : Pharmaceutical

Saudi Arabia and Middle East Radioisotope Market Size and Trends

The Saudi Arabia and Middle East radioisotope market size was valued at US$ 691.3 Mn in 2023 and is expected to reach US$ 1,604.4 Mn by 2031, growing at a compound annual growth rate (CAGR) of 11.1% from 2024 to 2031.

The Saudi Arabia and Middle East radioisotope market is witnessing positive trends. Increasing healthcare investments by regional governments are promoting the development of the nuclear medicine infrastructure and services. Moreover, the growing prevalence of non-communicable diseases coupled with an expanding aging population requiring healthcare are fueling the need for diversifying treatment options such as theragnostics using radioisotopes. However, the market still faces challenges associated with limited local production and reliance on imports to meet most of the regional demand.

Saudi Arabia and Middle East Radioisotope Market Trends:

Focus on the production of therapeutic radioisotopes: The focus on the production of therapeutic radioisotopes is indeed an important market trend in Saudi Arabia and Middle East radioisotope market. Therapeutic radioisotopes are used in nuclear medicine for the treatment of various conditions, most notably cancer. The increasing incidence of cancer in Saudi Arabia and the broader region creates a growing demand for targeted radiotherapy, which relies on therapeutic radioisotopes, such as Iodine-131, Lutetium-177, and Yttrium-90. Novel radio therapeutic agents provide more effective and less invasive treatment options. Advances such as peptide receptor radionuclide therapy (PRRT) and selective internal radiation therapy (SIRT) are examples of therapies that have shown promising results, especially in the treatment of tumors that are difficult to manage with conventional therapies. There is an increasing emphasis on personalized medical treatments that leverage therapeutic radioisotopes for precision medicine initiatives, where treatments are tailored to the individual characteristics of each patient's disease. The Saudi Arabia government is likely to support activities that contribute to achieving the healthcare goals outlined in the Saudi Vision 2030, which includes improving healthcare quality and expanding the medical services available in the country. Investments in healthcare infrastructure, including nuclear medicine capabilities, are expected to support the development of the local production of therapeutic radioisotopes.
Increasing adoption of personalized medicine: The increasing adoption of personalized medicine is a significant trend in the global healthcare industry that extends to Saudi Arabia and Middle East radioisotope market. In the context of nuclear medicine and radioisotope applications, personalized medicine involves tailoring diagnostic and therapeutic strategies to individual patient characteristics, thereby optimizing outcomes. Personalized medicine relies on precise diagnostics to identify the unique aspects of a patient's condition. Radioisotopes used in PET and SPECT imaging provide critical insights into the metabolic and molecular processes of diseases, enabling more personalized treatment plans. Therapeutic radioisotopes can be used to develop customized treatment regimens based on the specific biological markers of a patient's illness, particularly in oncology. This approach enhances the efficacy and minimizes the adverse effects of treatment. The study of how genes affect a person's response to drugs, known as pharmacogenomics, is becoming an important part of personalized medicine. The use of radioisotopes in pharmacokinetic studies aids in the determination of optimal dosing and drug selection. Increased investment in research and development is needed to further explore and understand how radioisotopes can be integrated into personalized medicine protocols effectively. Healthcare providers in Saudi Arabia can differentiate their services by offering advanced personalized medicine approaches that incorporate radioisotopes, thereby attracting patients looking for such cutting-edge treatments.