Automated Radiosynthesis Module Market

Market Overview:

The global automated radiosynthesis module market size reached US$ 34.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 57.1 Million by 2032, exhibiting a growth rate (CAGR) of 5.72% during 2024-2032. The increasing prevalence of various chronic and cardiovascular diseases, especially amongst the geriatric population, along with the rising need for PET and SPECT scanners in the healthcare sector to create tomographic images and advancements in the healthcare sector represent some of the key factors driving the market.

Automated radiosynthesis module refers to advanced medical equipment designed to formulate the radioactive isotope with a tracer molecule that is suitable to perform intensive diagnostic and therapeutic procedures. The automated radiosynthesis module also employs positron emission tomography (PET) and single-photon emission computerized tomography (SPECT) scanners. These solutions improve the utility of tomographic imaging diagnostics methods. As compared to radiotracers and radiopharmaceutical units, it offers better scope for production customization, longer device life, setting-up convenience, and better operational efficiency while performing diagnosis and therapy administration. Along with this, the automated radiosynthesis module is readily usable and improves therapy monitoring activities. Consequently, it is extensively used across hospitals, laboratories, and clinics by healthcare practitioners. At present, automated radiosynthesis module is commercially available in full and semi-automated types.

Automated Radiosynthesis Module Market Trends:

The increasing prevalence of various chronic and cardiovascular diseases, including cancer and chronic obstructive pulmonary disorders (COPD), represents a prime factor driving the market growth. Additionally, the rising need for PET and SPECT scanners in the healthcare sector to create tomographic images have facilitated the demand for automated radiosynthesis module in the healthcare sector, which is acting as another growth-inducing factor. In line with this, the large-scale investments being made by several governments in the production of radiotracers in decentralized settings are further contributing to the market growth. Moreover, the rising awareness regarding the multiple product benefits, such as low capital cost, minimal infrastructural requirement, and optimal performance, is supporting the market growth. This can be further attributed to significant technological advancements in terms of its usage, features, and efficacy, which is considerably favoring the market growth. Additionally, the rising geriatric population, which is susceptible to chronic ailments, and the escalating mortality rates across the globe are propelling the market growth. Other factors, such as significant enhancements in the healthcare infrastructure, the recent research and development (R&D) activities, and the major strategic collaborations amongst key players to engineer new product alternatives with enhanced efficacy, are creating a positive outlook for the market growth. The market is also being driven by the significant expansion in the healthcare industry, along with funding and grants provided by government and private organizations to encourage the adoption of automated radiosynthesis module for various applications.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global automated radiosynthesis module market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type and application.

Type Insights:

• Fully Automated
• Semi-Automated
   

The report has also provided a detailed breakup and analysis of the automated radiosynthesis module market based on the type. This includes fully and semi-automated. According to the report, fully automated represented the largest segment.

Application Insights:

• Hospitals
• Diagnostic Labs
• Radiology Clinics
• Others
   

A detailed breakup and analysis of the automated radiosynthesis module market based on the application has also been provided in the report. This includes hospitals, diagnostic labs, radiology clinics, and others. According to the report, hospitals accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for automated radiosynthesis module. Some of the factors driving the North America automated radiosynthesis module market included the increasing prevalence of various chronic and cardiovascular diseases, significant technological advancements, and extensive research and development (R&D) activities.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global automated radiosynthesis module market. Detailed profiles of all major companies have also been provided. Some of the companies covered includes Eckert & Ziegler Strahlen- und Medizintechnik AG, Elysia S.A., General Electric Company, IBA RadioPharma Solutions, Optimized Radiochemical Applications, SCINTOMICS Molecular, Applied Theranostics Technologies GmbH, Synthra GmbH, Trasis, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global automated radiosynthesis module market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global automated radiosynthesis module market?
• What are the key regional markets?
• Which countries represent the most attractive automated radiosynthesis module markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the application?
• What is the competitive structure of the global automated radiosynthesis module market?
• Who are the key players/companies in the global automated radiosynthesis module market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the automated radiosynthesis module market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global automated radiosynthesis module market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the automated radiosynthesis module industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and?provides an insight into the current positions of key players in the market.