At 19.3% CAGR, the Asia Pacific Radioactive Tracer Market is Projected to be worth US$ 6,629.61 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific radioactive tracer market was valued at US$ 1,615.80 million in 2022 and is expected to reach US$ 6,629.61 million by 2030, registering a CAGR of 19.3% from 2022 to 2030. Rising prevalence of chronic diseases and increasing use of nuclear imaging techniques are the critical factors attributed to the Asia Pacific radioactive tracer market expansion.

One of the primary opportunities within the radioactive trace market in Asia Pacific lies in the healthcare and diagnostics sector. The emerging economies of region such as China, India, Malaysia, Thailand, Indonesia, and Vietnam, are experiencing high growth and development in their healthcare infrastructure. The region’s vast and rapidly growing population, coupled with and increasing focus on healthcare infrastructure development, makes it a fertile ground for the application of radioactive tracers. Despite being highly preventable, cardiovascular disease (CVD) remains the leading cause of mortality in Asia-Pacific. CVD was responsible for an estimated 9.85 million fatalities in SEARO and WPRO in 2019, accounting for 45% of all NCD deaths in these regions. Furthermore, after CVD, cancer is the second biggest cause of mortality in the Asia-Pacific area. In 2019, cancer was responsible for an estimated 5 million deaths (or 24% of total NCD fatalities) in Asia-Pacific. Furthermore, there were 821.8 million newly diagnosed neurological illnesses globally in 2019: 227 million in the WHO South-East Asia region and 178.6 million in the WHO Western Pacific region. Radioactive tracers play a significant role in diagnostic imaging techniques such as Positron Emission Tomography (PET) and single Phonton Emission Computed Tomography (SPECT). As Asian countries advance their healthcare systems, there is rising demand for precise and early disease detection. Radioactive tracers, which allow for the visualization of molecular and cellular processes within the body, are instrumental in detecting various medical conditions, including cancer, cardiovascular diseases, and neurological disorders. They offer the advantage of early diagnosis and staging, leading to more effective treatment and improved patient outcomes. Moreover, the increasing awareness among both healthcare professionals and the general public about the benefits of nuclear medicine and molecular imaging is driving the demand for radioactive tracers. This trend is further supported by a growing middle-class population with greater access to healthcare services. Thus, the radioactive tracer market in “region’s name” is poised to experience substantial growth as it becomes an integral component of advanced medical diagnostics and patient care.

On the contrary, short shelf-life of radioactive tracer hurdles the growth of Asia Pacific radioactive tracer market. 

Based on tracer type, the Asia Pacific radioactive tracer market is categorized into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held 62.1% market share in 2022, amassing US$ 1,002.62 million. It is projected to garner US$ 3,885.24 million by 2030 to expand at 18.5% CAGR during 2022–2030.

Based on test type, the Asia Pacific radioactive tracer market is categorized into PET, SPECT, and others. The SPECT segment held 44.6% share of Asia Pacific radioactive tracer market in 2022, amassing US$ 720.14 million. It is projected to garner US$ 2,917.97 million by 2030 to expand at 19.1% CAGR during 2022–2030.

Based on end user, the Asia Pacific radioactive tracer market is categorized into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held 70.2% share of Asia Pacific radioactive tracer market in 2022, amassing US$ 1,134.15 million. It is projected to garner US$ 4,658.68 million by 2030 to expand at 19.3% CAGR during 2022–2030.

Based on application, the Asia Pacific radioactive tracer market is categorized into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held 61.0% share of Asia Pacific radioactive tracer market in 2022, amassing US$ 985.25 million. It is projected to garner US$ 3932.21 million by 2030 to expand at 18.9% CAGR during 2022–2030.

Based on country, the Asia Pacific radioactive tracer market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific.  Our regional analysis states that China captured 29.3% share of Asia Pacific radioactive tracer market in 2022. It was assessed at US$ 472.62 million in 2022 and is likely to hit US$ 1,912.64 million by 2030, exhibiting a CAGR of 19.1% during 2022–2030.            

Key players operating in the Asia Pacific radioactive tracer market are Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, General Electric Co, and IBA Radiopharma Solutions, among others.

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