Global Diagnostic Radiopharmaceuticals and Contrast Media Market: Regional Insights
Based on geography, the global diagnostic radiopharmaceuticals and contrast media market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Among regions, North America is expected to gain highest share in the market during the forecast period due to the growing burden of cancer and cardiovascular diseases, technology advancements in medical imaging, and increasing demand for image-guided procedures and diagnostics in this region. For instance, radiopharmaceutical therapy (RPT) is emerging as safe and effective targeted approach to treating many types of cancer. According to the American Cancer Society, in 2023, a total of 1.9 million new cancer cases (about 5,370 cases each day) and 609,820 deaths from cancer are expected to occur (about 1,670 deaths a day) in the U.S.
Europe and Asia Pacific are also expected to witness significant growth in the global diagnostic radiopharmaceuticals and contrast media market owing to the increasing prevalence of cancer and cardiac disease, increasing demand for image-guided procedures and diagnostics, and rapid growth of the pharmaceutical industry in these regions. For instance, as per the European Heart Network, each year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union. Thus in turn is increasing demand for image-guided procedures and diagnostics, driving the growth of the market.
Figure 1. Global Diagnostic Radiopharmaceuticals and Contrast Media Market Share (%), By Region, 2023
Diagnostic Radiopharmaceuticals And Contrast Media Market Report Snapshots
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