JERSEY
CITY, N.J., May 16, 2024
/PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release
of a market assessment report on the "Radiopharmaceutical
CDMO/CMO Services Market – (Application (Diagnostic
Radiopharmaceuticals and Therapeutic Radiopharmaceuticals), Type of
Radioisotope (Technetium-99m, Fluorine-18, Leutetium-177,
Gallium-68, Actinium-225 and Other Radioisotopes), Source of
Manufacturing (Nuclear Reactors and Cyclotrons), Scale of Operation
(Preclinical, Clinical and Commercial), Therapeutic Area
(Cardiovascular Disorders, Neurological Disorders, Oncological
Disorders and Other Disorders)), Trends, Industry Competition
Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the
Radiopharmaceutical CDMO/CMO Services Market Size is valued
at USD 2.75 Bn in 2023 and is
predicted to reach USD 5.44 Bn by the
year 2031 at a 9.0% CAGR during the forecast period for
2024-2031.
Radiopharmaceuticals, which contain radioactive isotopes, are
crucial in nuclear medicine for both diagnostic imaging and
therapeutic purposes. These drugs emit radiation that medical
imaging devices can detect, aiding in visualizing and diagnosing
various medical conditions.
Contract development and manufacturing organizations (CDMOs) and
contract manufacturing organizations (CMOs) specialize in providing
comprehensive solutions for radiopharmaceutical development,
manufacturing, and commercialization. They offer expertise in
producing active pharmaceutical ingredients (APIs), ensuring
regulatory compliance, and providing services from drug development
to scale-up and commercial production for clinical and commercial
supply.
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These services are indispensable for pharmaceutical companies
seeking to outsource the intricate manufacturing processes involved
in radiopharmaceutical production. They streamline the
manufacturing process, ensure regulatory adherence, and offer
specialized knowledge in the development and production of
radiopharmaceuticals. Their significance lies in facilitating the
efficient and compliant introduction of novel radiopharmaceuticals
to the market, thereby contributing to advancements in diagnostic
imaging and therapeutic treatments for various medical
conditions.
List of Prominent Players in the Radiopharmaceutical CDMO/CMO
Services Market:
- NorthStar Medical Radioisotopes
- PharmaLogic
- Eckert & Ziegler
- SOFIE
- Monrol
- Medi-Radiopharma
- Cardinal Health
- CheMatech
- Chelatec
- SpectronRx
- SHINE Technologies, LLC
- Trasis
- IONETIX Corporation
- Seibersdorf Labor GmbH
- Senn Chemicals AG
- Minerva Imaging
- Nucleus RadioPharma
- Evergreen Theragnostics, Inc.
- Global Medical Solutions
- GBI Biomanufacturing
- ITM Isotope Technologies Munich SE
- Macrocyclics Inc
- ABX-CRO
- PSI CRO
- Other Prominent Player
Radiopharmaceuticals CDMO/CMO Services
Market Report Scope:
Report
Attribute
|
Specifications
|
Market Size Value in
2023
|
USD 2.75 Bn
|
Market Size Value in
2031
|
USD 5.44 Bn
|
Growth Rate
CAGR
|
CAGR of 9.0% from 2024
to 2031
|
Quantitative
Units
|
Representation of
revenue in US$ Bn and CAGR from 2024 to 2031
|
Historic
Year
|
2019 to 2023
|
Forecast
Year
|
2024-2031
|
Report
Coverage
|
The forecast of
revenue, the position of the company, the competitive market
structure, growth prospects, and trends
|
Segments
Covered
|
By Application, Type Of
Radioisotope, Scale Of Operation, Source Of Manufacturing And
Therapeutic Area
|
Regional
Scope
|
North America; Europe;
Asia Pacific; Latin America; Middle East & Africa
|
Country
Scope
|
U.S.; Canada; U.K.;
Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain;
Southeast Asia; South Korea
|
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Market Dynamics:
Drivers:
The demand for radiopharmaceuticals, prompted by the rising
prevalence of chronic ailments like cancer, cardiovascular, and
neurological disorders, underlines the necessity for specialized
services offered by contract development and manufacturing
organizations (CDMOs) and contract manufacturing organizations
(CMOs). These entities play a crucial role in supporting the
development and production of these vital medical solutions.
As continuous technological advancements revolutionize the
radiopharmaceutical landscape, there arises a pressing need for
sophisticated manufacturing capabilities. CDMOs and CMOs equipped
with cutting-edge technology are composed to address the complex
manufacturing demands associated with radiopharmaceuticals, making
them attractive partners for pharmaceutical firms seeking to
capitalize on advanced manufacturing methodologies.
Challenges:
The creation and production of radiopharmaceuticals face
significant barriers, one being a lack of manufacturing capacity.
Because of this, pharmaceutical companies often turn to outside
firms for help with the complicated manufacturing steps. Producing
these drugs demands specialized knowledge and equipment,
particularly due to the short lifespan of the radioactive
components, which necessitates precise manufacturing processes.
There aren't enough skilled workers who know how to handle all
this.
This shortage of experts can really put a damper on the growth
of companies that offer contract services for developing and making
these drugs. To tackle this, it's crucial to train more people and
find ways to attract talent to this specialized field.
Regional Trends:
North America stands as the
largest market for radiopharmaceutical contract development and
manufacturing organization/contract manufacturing organization
(CDMO/CMO) services, commanding around 50% of the global
radiopharmaceutical manufacturing market share, driven by advanced
healthcare infrastructure and favorable regulations. Meanwhile, the
Asia-Pacific region shows
promising growth prospects due to increasing healthcare
investments, rising disease burden, and growing outsourcing trends
by major pharmaceutical companies attracted by cost advantages and
expertise.
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Recent Developments:
- May 2024, PharmaLogic Holdings
Corp., a leading contract development and manufacturing
organization (CDMO) and radiopharmacy solutions provider, marks the
inauguration of its radiopharmaceutical production and research
facility in the Bronx, New York.
Following its acquisition in 2022, the facility underwent extensive
renovations and now features state-of-the-art equipment. This
investment underscores PharmaLogic's commitment to advancing the
development of innovative radiopharmaceuticals in the region.
- In February 2024, Bristol Myers
Squibb finalized its acquisition of RayzeBio, Inc., integrating
RayzeBio's distinctive Actinium-based radiopharmaceutical platform.
This acquisition marks the conclusion of RayzeBio is a wholly owned
subsidiary of Bristol Myers Squibb.
- In February 2024, Telix
Pharmaceuticals Limited signed an agreement to acquire
IsoTherapeutics Group, LLC, a specialized radiopharmaceutical
development and bioconjugation company located in Angleton, Texas. IsoTherapeutics offers
radiochemistry and bioconjugation development, along with contract
manufacturing services to various companies in the
radiopharmaceutical sector, including Telix.
Segmentation of Radiopharmaceutical CDMO/CMO Services Market
-
By Application
- Diagnostic Radiopharmaceuticals
- Positron Emission Tomography Radiopharmaceuticals
- SPECT Radiopharmaceuticals
- Therapeutic Radiopharmaceuticals
- Alpha Emitters
- Beta Emitters
- Other Therapeutic Radiopharmaceuticals
By Type of Radioisotope
- Technetium-99m
- Fluorine-18
- Leutetium-177
- Gallium-68
- Actinium-225
- Other Radioisotopes
By Source of Manufacturing
- Nuclear Reactors
- Cyclotrons
By Scale of Operation
- Preclinical
- Clinical
- Commercial
By Therapeutic Area
- Cardiovascular Disorders
- Neurological Disorders
- Oncology
- Others
By Region
North America-
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and
Africa
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Why should buy this report:
- To receive a comprehensive analysis of the prospects for global
Radiopharmaceutical CDMO/CMO Services market
- To receive industry overview and future trends of global
Radiopharmaceutical CDMO/CMO Services market
- To analyze the Radiopharmaceutical CDMO/CMO Services market
drivers and challenges
- To get information on the Radiopharmaceutical CDMO/CMO Services
market size value (US$ Mn) forecast till 2031
- Major Investments, Mergers & Acquisition in global
Radiopharmaceutical CDMO/CMO Services market industry
Other Related Reports Published by InsightAce
Analytic:
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Manufacturing Market
Radiopharmaceuticals Market
Radiotheranostics Market
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