The global healthcare industry is witnessing a significant shift towards the adoption of automated radiosynthesis modules for the production of radiotracers. This shift is driven by the need for improved diagnostics and therapy monitoring in the face of the rising prevalence of chronic diseases. The automated radiosynthesis module market is expected to grow at a steady pace over the next few years, with factors such as the increasing adoption of PET/SPECT imaging and the implementation of cGMP guidelines by the FDA contributing to this growth.
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Some key factors driving the growth of the automated radiosynthesis module market include:
Increase in the prevalence of chronic diseases
Rise in the adoption rate of PET/SPECT imaging
Improved cGMP guidelines provided by the FDA
On the other hand, high prices of products and limited availability of funds and grants are expected to pose challenges for the market. However, the ready availability of funds and grants from various government and public bodies is expected to offer attractive opportunities to the automated radiosynthesis module market.
The global burden of chronic diseases is rising at an alarming rate. Therefore, the global health care industry is concentrating on the timely diagnosis of diseases in order to provide speedy treatment. This is expected to help in limiting the global burden of chronic disorders such as cancer, cardiovascular (CVS) diseases, chronic obstructive pulmonary disorders (COPD), and others. Various diagnostic tools such as PET and SPECT are being adopted across the globe to limit the rampant rise in the rates of chronic diseases. The tools provide high-resolution quality imaging, thereby simplifying the difficult diagnosis process.
Based on geography, the global automated radiosynthesis module market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a prominent share of the market in terms of revenue, followed by Europe. The automated radiosynthesis module market in emerging countries such as China, South Korea, Brazil, and India is expected to expand significantly over the next five years. However, North America and Europe are estimated to continue to dominate the market.
Some of the major players operating in the automated radiosynthesis module market include GE Healthcare, Siemens Healthcare, IBA Radiopharma Solutions, Optimized Radiochemical Applications, Synthra GmbH, and Eckert & Ziegler Group. The other players in this sector include Sumitomo Corp, Scintomics GmbH, Sofie Biosciences, Trasis S.A, Raytest Isotopenmessgerte GmbH, and Posi-Med LLC.
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