Europe has seen substantial demand growth and plans to register the highest CAGR over the projected period. The growth of the European radiopharmaceuticals market has been fueled by growing research & development (R&D) and the involvement of leading players in the market. Growth in scientific spending and the presence of a large pool of patients and the presence of advanced economies such as Germany, the United Kingdom and France are projected to fuel business growth. During the forecast period, Europe is predicted to record the highest CAGR of 9.67 percent.
Over the analysis period, APAC is expected to record the fastest rise. Because of the cost-efficiency in these areas, radiopharmaceutical firms are expanding their activities in countries such as China, India, Singapore, and Russia. In addition, there is a wide pool of geriatric communities in Asia-Pacific that need invasive treatments to treat growing cases of cardiovascular disease, neurological disease, and others. The APAC market is also expected to be driven by a growth in demand for PET and SPECT products caused by growing patient knowledge levels concerning cardiovascular disorders and oncology.
In the world demand for radiopharmaceuticals, the Middle East & Africa are predicted to have the lowest market share. Due to the growing knowledge of radiopharmaceuticals, Saudi Arabia is projected to retain the largest market share during the forecast period.
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