Radiochemical synthesizers make small portions of radioisotopes inside a particle accelerator or in a nuclear research reactor by illuminating a selected target. Using these radioisotopes, above 100 radio chemicals was developed. When such radioisotopes are created, these are fitted with a tag on specific molecules based on biological capabilities, which lead to Radiotherapy. Radiochemical synthesizers are also required to be produced under carefully managed situations and, before they are commercially available are made to undergo rigorous tests for their quality like any other pharmaceutical or medical product. Radiochemical synthesizers are utilized to treat some conditions of cancers and are also used for the diagnosis of different medical problems such as cardiac anomalies or neurological conditions. The radiochemical synthesizer market is experiencing growth owing to rise in prevalence of cardiovascular diseases and cancer.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
There has been an increase in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. There is an increase in the need for medical supplies, both from healthcare professionals and civil population for precautionary measures, owing to the rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the radiochemical synthesizers market.
Top Impacting Factors
- Increase in cases of cardiovascular diseases and cancer, rise in demand for accurate measures to diagnose cardiac anomalies or neurological conditions, surge in geriatric populations, increase in use of radioisotopes in the healthcare industry, the discovery of new Radiochemical synthesizers, are factors that drive the growth of radiochemical synthesizers market.
- In addition, increase in healthcare expenditure; availability of skilled professionals; rise in R&D activities to improve quality of products and to launch the novel developed products in the market; and technological advancements are some factors, which boost the market growth for radiochemical synthesizers.
- However, the short half-life of the radiochemical synthesizers, high cost of radiochemical synthesizers for cancer treatment, lack of awareness about the procedure, and associated complications hinder the radiochemical synthesizers market growth.
- Contrarily, rise in investments in research and development activities for the discovery of new products and the increase in demand for cancer treatment leading to a rise in drug approvals present new pathways in the industry.
Radiochemical Synthesizers Market Trends
New product launches to flourish the market
The recent trend in the healthcare industry focuses on the launch of novel products through collaborations to extend the company's product portfolio.
In 2020, Lantheus Holdings published acceptance and primary review of a new drug application (NDA) for PyLTM (18F-DCFPyL), a PSMA-Targeted Prostate Cancer PET Imaging Agent.
In 2020, Swisstrace collaborated with LabLogic to avail preclinical imaging facilities. The increasing reimbursement situation is also growing the market in almost every country.
Key Benefits of the Report
- This study presents the analytical depiction of the radiochemical synthesizers industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the radiochemical synthesizer’s market share.
- The current market is quantitatively analyzed to highlight the radiochemical synthesizer’s market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed radiochemical synthesizers market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the radiochemical synthesizers Report
- Which are the leading players active in the radiochemical synthesizers market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the radiochemical synthesizers market?
- What future projections would help in taking further strategic steps?
- What is "Radiochemical synthesizers "?
- What is "Radiochemical synthesizers" Market prediction in the future?
- Who are the leading global players in the "Radiochemical synthesizers" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Radiochemical synthesizers" Market report?
Radiochemical Synthesizers Market Report Highlights
By Product Type
By End User
Key Market Players
Mercurius Health, Advanced Cyclotron Systems, Lantheus Medical Imaging, Inc., NorthStar Medical Technologies, JSC Isotope, IAEA, BV Cyclotron VU, LabLogic Systems Ltd, Elysia, Advion, Inc, IBA