Nuclear Medicine/Radiopharmaceutical Global Market – Forecast To 2024
1 EXECUTIVE SUMMARY 34
2 INTRODUCTION 40
- 2.1 KEY TAKE AWAYS 40
- 2.2 REPORT SCOPE 41
- 2.3 REPORT DESCRIPTION 41
- 2.4 MARKETS COVERED 44
- 2.5 STAKEHOLDERS 47
- 2.6 RESEARCH METHODOLOGY 48
- 2.6.1 MARKET SIZE ESTIMATION 50
- 2.6.2 MARKET CRACKDOWN AND DATA TRIANGULATION 52
- 2.6.3 SECONDARY SOURCES 53
- 2.6.4 PRIMARY SOURCES 53
- 2.6.5 KEY DATA POINTS FROM SECONDARY SOURCES 54
- 2.6.7 KEY DATA POINTS FROM PRIMARY SOURCES 55
- 2.6.8 ASSUMPTIONS 55
3 MARKET ANALYSIS 57
- 3.1 INTRODUCTION 57
- 3.2 MARKET SEGMENTATION 58
- 3.3 FACTORS INFLUENCING MARKET 61
- 3.3.1 DRIVERS AND OPPORTUNITIES 62
- 3.3.1.1 Increased applications of Radiopharmaceuticals 62
- 3.3.1.2 Rise in public awareness 63
- 3.3.1.3 Usage of hybrid imaging 63
- 3.3.1.4 Technological advancements 64
- 3.3.1.5 Increasing needs in emerging markets 65
- 3.3.1.6 Production of Radiopharmaceuticals from Cyclotrons 65
- 3.3.1.7 Efficient diagnosis and treatments 67
- 3.3.2 RESTRAINTS AND THREATS 67
- 3.3.2.1 Shorter half-life of Radiopharmaceuticals 67
- 3.3.2.2 High cost and supply shortage of isotopes 68
- 3.3.2.3 Radio toxicity 68
- 3.3.2.4 Shortage of qualified technicians 69
- 3.3.2.5 Regulatory Issues 70
- 3.3.2.6 Threat from traditional/alternative diagnostic procedures 71
- 3.3.2.7 Huge Capital Investment 71
- 3.3.1 DRIVERS AND OPPORTUNITIES 62
- 3.4 PROBLEM AREAS 72
- 3.4.1 CLOSURE OF REACTORS 72
- 3.5 WINNING IMPERATIVES 73
- 3.5.1 AVAILABILITY OF TECHNETIUM 73
- 3.6 REGULATORY GUIDELINES 74
- 3.6.1 UNITED STATES 74
- 3.6.2 EUROPE 75
- 3.6.3 JAPAN 76
- 3.6.4 INDIA 76
- 3.6.5 CHINA 77
- 3.6.6 SOUTH KOREA 77
- 3.7 REIMBURSEMENT SCENARIO AND CHALLENGES 78
- 3.8 CLINICAL TRIALS 86
- 3.9 PATENT TRENDS 89
- 3.10 SUPPLY CHAIN ANALYSIS 91
- 3.10.1 REACTORS 91
- 3.10.2 PROCESSING FACILITY 93
- 3.10.3 GENERATORS MANUFACTURING UNITS 93
- 3.10.4 HOSPITALS AND CENTRAL RADIO PHARMACIES 93
- 3.11 LIST OF POTENTIAL NEW REACTORS 94
- 3.12 LIST OF FDA APROVED RADIOPHARMACEUTICALS 96
- 3.13 PORTER'S FIVE FORCE ANALYSIS 101
- 3.13.1 THREAT OF NEW ENTRANTS 101
- 3.13.2 THREAT OF SUBSTITUTES 102
- 3.13.3 BARGAINING POWER OF SUPPLIERS 102
- 3.13.4 BARGAINING POWER OF BUYERS 102
- 3.13.5 COMPETITIVE RIVALRY 103
- 3.14 MARKET SHARE ANALYSIS BY MAJOR PLAYERS 104
- 3.14.1 NUCLEAR MEDICINE MARKET 104
- 3.14.2 SPECT MARKET 107
- 3.14.3 PET MARKET 110
- 3.14.4 TC-99 MARKET 113
4 NUCLEAR MEDICINE GLOBAL MARKET, BY MODALITY 116
- 4.1 INTRODUCTION 116
- 4.2 DIAGNOSTICS 119
- 4.2.1 RADIOPHARMACEUTICALS FOR DIAGNOSIS, BY ISOTOPES 125
- 4.2.1.1 SPECT, by Isotopes 125
- 4.2.1.1.1 Technetium (Tc-99m).......................................................................... 130
- 4.2.1.1.2 Thallium (Tl-201) ................................................................................ 132
- 4.2.1.1.3 Gallium (Ga-67) ................................................................................. 134
- 4.2.1.1.4 Iodine (I-123) .................................................................................... 135
- 4.2.1.1.5 Samarium (Sm-153) ........................................................................... 137
- 4.2.1.1.6 Yttrium (Y-90) .................................................................................... 139
- 4.2.1.1.7 Rhenium (Re-186) .............................................................................. 140
- 4.2.1.1.8 Others................................................................................................ 142
- 4.2.1.2 PET, by Isotopes 144
- 4.2.1.2.1 Fluorodeoxyglucose (18F-FDG).............................................................. 149
- 4.2.1.2.2 Gallium (Ga-68).................................................................................. 151
- 4.2.1.2.3 Rubidium (Rb-82)................................................................................ 154
- 4.2.1.2.4 Others................................................................................................ 157
- 4.2.2 NUCLEAR MEDICINE FOR DIAGNOSIS, BY APPLICATION 159
- 4.2.2.1 SPECT by Application 159
- 4.2.2.1.1 Cardiology.......................................................................................... 164
- 4.2.2.1.2 Pulmonary.......................................................................................... 166
- 4.2.2.1.3 Oncology............................................................................................ 167
- 4.2.2.1.4 Nephrology......................................................................................... 169
- 4.2.2.1.5 Neurology........................................................................................... 170
- 4.2.2.1.6 Inflammation...................................................................................... 172
- 4.2.2.1.7 Thyroid glands..................................................................................... 174
- 4.2.2.1.8 Lymphology........................................................................................ 177
- 4.2.2.1.9 Others................................................................................................ 178
- 4.2.2.2 PET by Application 180
- 4.2.2.2.1 Oncology............................................................................................ 182
- 4.2.2.2.2 Neurology........................................................................................... 185
- 4.2.2.2.3 Cardiology.......................................................................................... 186
- 4.2.2.2.4 Inflammation....................................................................................... 188
- 4.2.2.2.5 Others................................................................................................ 189
- 4.3 THERAPEUTICS 192
- 4.3.1 NUCLEAR MEDICINE FOR THERAPEUTICS, BY RADIATION TYPE 193
- 4.3.1.1 Beta radiation Therapy 199
- 4.3.1.1.1 Yttrium (Y-90)..................................................................................... 204
- 4.3.1.1.2 Iodine (I-131)..................................................................................... 206
- 4.3.1.1.3 Lutetium (Lu-177)............................................................................... 208
- 4.3.1.1.4 Samarium (Sm-153)............................................................................ 211
- 4.3.1.1.5 Rhenium (Re-186)............................................................................... 212
- 4.3.1.1.6 Strontium (Sr-89)................................................................................ 214
- 4.3.1.1.7 Erbium (Er-169).................................................................................. 216
- 4.3.1.1.8 Others................................................................................................ 218
- 4.3.1.2 Alpha radiation therapy, by isotopes 220
- 4.3.1.3 Brachytherapy, by Isotopes 226
- 4.3.1.3.1 Iodine (I-125)..................................................................................... 230
- 4.3.1.3.2 Cesium (Cs-131)................................................................................. 232
- 4.3.1.3.3 Iridium (Ir-192)................................................................................... 233
- 4.3.1.3.4 Palladium (Pd-103).............................................................................. 234
- 4.3.1.3.5 Others................................................................................................ 236
- 4.3.2 NUCLEAR MEDICINE THERAPEUTICS, BY APPLICATION 237
- 4.3.2.1 Prostate cancer 239
- 4.3.2.2 Thyroid cancer 242
- 4.3.2.3 Liver cancer 244
- 4.3.2.4 GEP-NET Therapeutics 245
- 4.3.2.5 Metastatic Bone Cancer Therapeutics 247
- 4.3.2.6 Breast Cancer Therapeutics 249
- 4.3.2.7 Other Therapeutic Applications 251
5 NUCLEAR MEDICINE GLOBAL MARKET, BY END-USERS 253
- 5.1 INTRODUCTION 253
- 5.2 HOSPITAL 256
- 5.3 AMBULATOR-Y CENTERS 258
- 5.4 DIAGNOSTIC CENTERS 260
- 5.5 OTHER END-USERS 262
6 STABLE ISOTOPES 265
- 6.1 INTRODUCTION 265
- 6.2 MARKET ANALYSIS 267
- 6.2.1 FACTORS INFLUENCING MARKET 267
- 6.2.2 DRIVERS AND OPPORTUNITIES 268
- 6.2.2.1 Increase in research activities (Pharmaceuticals and biotechnology sectors) 268
- 6.2.2.2 Increasing applications 268
- 6.2.3 RESTRAINTS AND THREATS 269
- 6.2.3.1 High cost of stable isotopes 269
- 6.2.3.2 Stable isotopes-side effects and safety issues 269
- 6.2.3.3 Stringent Regulations for manufacturing and use of stable isotopes 270
- 6.3 STABLE ISOTOPES MARKET, BY ISOTOPE 271
- 6.3.1 Carbon (C-13) 273
- 6.3.2 Deuterium (D2) 275
- 6.3.3 Oxygen (O-18) 277
- 6.3.4 Nitrogen (N-15) 279
- 6.3.5 Sulphur (S-32) 281
- 6.3.6 Others 282
- 6.4 STABLE ISOTOPES MARKET, BY APPLICATION 284
- 6.4.1 INTRODUCTION 284
- 6.4.2 DIAGNOSTICS AND THERAPY 287
- 6.4.3 PHARMACEUTICALS 289
- 6.4.4 OTHERS 291
- 6.5 STABLE ISOTOPES MARKET, BY GEOGRAPHY 293
- 6.5.1 INTRODUCTION 293
- 6.5.2 NORTH AMERICA 296
- 6.5.3 EUROPE 301
- 6.5.4 ASIA-PACIFIC 305
- 6.5.5 REST OF THE WORLD 310
7 REGIONAL ANALYSIS 314
- 7.1 INTRODUCTION 314
- 7.2 NORTH AMERICA 317
- 7.2.1 U.S. 342
- 7.2.2 OTHERS 348
- 7.3 EUROPE 353
- 7.3.1 GERMANY 378
- 7.3.2 FRANCE 383
- 7.3.3 ITALY 388
- 7.3.4 OTHERS 393
- 7.4 ASIA-PACIFIC 398
- 7.4.1 JAPAN 422
- 7.4.2 CHINA 427
- 7.4.3 AUSTRALIA 432
- 7.4.4 OTHERS 437
- 7.5 REST OF THE WORLD 442
- 7.5.1 BRAZIL 466
- 7.5.2 REST OF LATIN AMERICA 471
- 7.5.3 MIDDLE EAST AND SOUTH AFRICA 476
8 COMPETITIVE LANDSCAPE 481
- 8.1 INTRODUCTION 481
- 8.2 APPROVALS AND AGREEMENTS 482
- 8.3 ACQUISITION, EXPANSION AND COLLABORATION 488
- 8.4 OTHERS DEVELOPMENTS 490
9 MAJOR PLAYER PROFILES 495
- 9.1 ADVANCE ACCELERATOR APPLICATIONS SA (NOVARTIS) 495
- 9.1.1 OVERVIEW 495
- 9.1.2 FINANCIALS 496
- 9.1.3 PRODUCT PORTFOLIO 499
- 9.1.4 KEY DEVELOPMENTS 499
- 9.1.5 BUSINESS STRATEGY 501
- 9.1.6 SWOT ANALYSIS 502
- 9.2 AUSTRALIAN NUCLEAR SCIENCE AND TECHNOLOGY ORGANISATION
(ANSTO) 503
- 9.2.1 OVERVIEW 503
- 9.2.2 FINANCIALS 504
- 9.2.3 PRODUCT PORTFOLIO 504
- 9.2.4 KEY DEVELOPMENTS 504
- 9.2.5 BUSINESS STRATEGY 505
- 9.2.6 SWOT ANALYSIS 506
- 9.3 BAYER GROUP 507
- 9.3.1 OVERVIEW 507
- 9.3.2 FINANCIALS 509
- 9.3.3 PRODUCT PORTFOLIO 512
- 9.3.4 KEY DEVELOPMENTS 512
- 9.3.5 BUSINESS STRATEGY 512
- 9.3.6 SWOT ANALYSIS 513
- 9.4 CARDINAL HEALTH INC. 514
- 9.4.1 OVERVIEW 514
- 9.4.2 FINANCIALS 515
- 9.4.3 PRODUCT PORTFOLIO 517
- 9.4.4 KEY DEVELOPMENTS 517
- 9.4.5 BUSINESS STRATEGY 518
- 9.4.6 SWOT ANALYSIS 519
- 9.5 CURIUM PHARMA 520
- 9.5.1 OVERVIEW 520
- 9.5.2 FINANCIALS 520
- 9.5.3 PRODUCT PORTFOLIO 520
- 9.5.4 KEY DEVELOPMENTS 522
- 9.5.5 BUSINESS SRATEGY 523
- 9.5.6 SWOT ANALYSIS 524
- 9.6 FUJIFILM HOLDINGS CORPORATION 525
- 9.6.1 OVERVIEW 525
- 9.6.2 FINANCIALS 527
- 9.6.3 PRODUCT PORTFOLIO 530
- 9.6.4 KEY DEVELOPMENTS 531
- 9.6.5 BUSINESS SRATEGY 532
- 9.6.6 SWOT ANALYSIS 533
- 9.7 GE COMPANY (GE HEALTHCARE) 534
- 9.7.1 OVERVIEW 534
- 9.7.2 FINANCIALS 536
- 9.7.3 PRODUCT PORTFOLIO 539
- 9.7.4 KEY DEVELOPMENTS 539
- 9.7.5 BUSINESS SRATEGY 540
- 9.7.6 SWOT ANALYSIS 541
- 9.8 JUBILANT LIFESCIENCE 542
- 9.8.1 OVERVIEW 542
- 9.8.2 FINANCIALS 543
- 9.8.3 PRODUCT PORTFOLIO 548
- 9.8.4 KEY DEVELOPMENTS 549
- 9.8.5 BUSINESS SRATEGY 551
- 9.8.6 SWOT ANALYSIS 552
- 9.9 LANTHEUS MEDICAL IMAGING INC. 553
- 9.9.1 OVERVIEW 553
- 9.9.2 FINANCIALS 555
- 9.9.3 PRODUCT PORTFOLIO 558
- 9.9.4 KEY DEVELOPMENTS 558
- 9.9.5 BUSINESS STRATEGY 560
- 9.9.6 SWOT ANALYSIS 561
- 9.10 SOTERA HEALTH LLC (NORDION INC) 562
- 9.10.1 OVERVIEW 562
- 9.10.2 FINANCIALS 562
- 9.10.3 PRODUCT PORTFOLIO 563
- 9.10.4 KEY DEVELOPMENTS 563
- 9.10.5 BUSINESS STRATEGY 564
- 9.10.6 SWOT ANALYSIS 565
- 9.11 SOUTH AFRICAN NUCLEAR ENERGY CORPORATION (NECSA)
(NTP RADIOISOTOPES SOC LTD) 566
- 9.11.1 OVERVIEW 566
- 9.11.2 FINANCIALS 567
- 9.11.3 PRODUCT PORTFOLIO 567
- 9.11.4 KEY DEVELOPMENTS 567
- 9.11.5 BUSINESS STRATEGY 568
- 9.11.6 SWOT ANALYSIS 569
- 4.3.1 NUCLEAR MEDICINE FOR THERAPEUTICS, BY RADIATION TYPE 193
- 9.12 SIEMENS AG 570
- 9.12.1 OVERVIEW 570
- 9.12.2 FINANCIALS 571
- 9.12.3 PRODUCT PORTFOLIO 573
- 9.12.4 KEY DEVELOPMENTS 574
- 9.12.5 BUSINESS STRATEGY 574
- 4.2.1 RADIOPHARMACEUTICALS FOR DIAGNOSIS, BY ISOTOPES 125
Over the past 50 years nuclear medicine field has displayed a strong link between investments in chemistry and development of radionuclides and radio-labeled compounds which has impacted the healthcare practice. Nuclear medicine comprises diagnostic and therapeutic techniques that use radioisotopes for applications like oncology, cardiovascular and neurological disorders to provide information at both molecular and cellular level for probing, tracking tissue function, study disease progression and assessing treatment responses.
The nuclear medicine global market is estimated to reach $9,367.8 million by 2024 growing at mid single digit CAGR. Increased radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, abundance of radiopharmaceuticals, advancement in imaging technology (hybrid imaging) and alpha therapy based targeted cancer treatment is boosting nuclear medicine market growth. In addition, increasing need in emerging markets, production of radiopharmaceuticals from cyclotrons, efficient diagnosis and treatments, emerging radio isotopes and replacement of old/traditional equipments are the opportunities likely to propel the growth of nuclear medicine market.
Nuclear medicinal market is classified based on modality into diagnosis-therapeutics. Diagnostics market held the largest market revenue in 2017 and is expected grow at single digit CAGR due to increase in SPECT and PET procedures. The therapeutics segment is expected to be the fastest growing segment at high double digit CAGR from 2017 to 2024 due to technological advancements in targeted treatment of cancers. Potential new radioisotopes in pipeline and advancement in neurological treatments are the key factors driving the growth of the therapeutics market. Diagnosis by products is segmented into SPECT and PET. SPECT market held the largest market due to increase in TC-99m isotope applications and product approvals. SPECT is segmented based on isotopes into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Samarium (Sm-153), Yttrium (Y-90), Rhenium (Re-186) and others. Technetium (Tc-99m) accounted for largest share in 2017 and is the fastest growing market with projected single digit CAGR growth during 2017 to 2024 due to increase in approvals of Tc-99m based cold kits for different applications. SPECT market by application is segmented into cardiology, pulmonary, oncology, nephrology, neurology, inflammation, thyroid gland, lymphology and others. Cardiology accounted for largest share in 2017 and remains fastest growing market due to increase in number of cardiac imaging cases using Tc-99m.
PET is the fastest growing segment at mid single digit CAGR from 2017 to 2024 due to increase in adoption of cyclotron for production of PET isotopes increasing its availability. The PET isotopes include Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others. The Fluorodeoxyglucose (18F-FDG) accounted for the largest share in 2017and remains the fastest growing market from 2017 to 2024 due to increase in application related to neurology, bone scan, infection and inflammation. PET by applications is segmented into cardiology, oncology, neurology, inflammation and others. Oncology accounted for largest share in 2017 and is the fastest growing market projected to grow with mid single CAGR from 2017 to 2024 due to increase in patient pool of lung cancer, thyroid cancer and breast cancer.
Therapeutic nuclear medicine market is segmented based on radiation type into alpha radiation, beta radiation and brachytherapy. Alpha radiation accounted largest share in 2017 and is the fastest growing market with projected high double digit CAGR from 2017 to 2024 due to new approval of Ra-223 based cold kits by FDA and other regulatory agencies. Beta radiation therapy by isotopes is further segmented into Y-90, I-131, Lu-177, Sm-153, Re-186, Sr-89, Er-169 and others. I-131 held the largest share and is expected to grow at mid single digit CAGR from 2017 to 2024 due to increased use in treatment of thyroid cancer cases. Lu-177 segment was the fastest growing segment at high single digit CAGR from 2017 to 2024 due to increase in approval of Lu-177 based radiopharmaceuticals for treatment of neuroendocrine tumor. Brachytherapy isotopes are further segmented into I-125, Cs-131, Ir-192, Pd-103 and others. I-125 market accounted the largest share in 2017 and is the fastest growing market with projected CAGR of 3.7% from 2017 to 2024 due to increase in increased use in treatment of lung cancer, prostate cancer, eye related disease (retinoblastoma and eye plaque) and brain cancer. Therapeutic nuclear medicine by application is segmented into prostate cancer, thyroid cancer, liver cancer, gastro-entero-pancreatic-neuroendocrine tumors, metastatic bone cancer, breast cancer and others. Prostate cancer market accounted the largest share in 2017 and is the fastest growing market projected with double digit CAGR growth from 2017 to 2024 due to increase in increased use in treatment of prostate cancer.
Nuclear medicine based on end-user is segmented into hospitals, ambulatory centers, diagnostic centers and others. Hospital accounted the largest share in 2017 and is the fastest growing market projected with CAGR of 7.2% from 2017 to 2024 due to readily availability of cyclotrons for generation of isotope and use of advanced hybrid imaging.
The stable isotope global market is poised to reach $256.9 million by 2024. The Nuclear Medicine market includes stable isotopes which are classified into isotopes and applications. Isotopes considered are carbon (C-13), deuterium (D2), oxygen (O-18), nitrogen (N-15), Sulphur (S-32) and others. Deuterium (D-2) accounted largest share in 2017 and is the fastest growing market with projected low single digit CAGR growth from 2017 to 2024 due to use of deuterium as dietary supplement of deuterium-depleted water which helps to extend survival rate of lung cancer patient via exerting anticancer effect and modification of deuterium leads to development of novel, highly differentiated drugs which have therapeutic applications in diabetic nephropathy, hot flashes, spasticity, neuropathic pain and multiple melanoma. The stable isotope applications market is segmented into diagnostics-therapy, pharmaceutical companies and others. Diagnostics-therapy market commanded the largest market revenue in 2017 and expected to grow at a CAGR of 2.6% due to use in diagnosis and treatment of pancreas, liver and intestine related disorders. The pharmaceuticals is projected to be the fastest growing segment from 2017 to 2024 due to novel developments in utilization of stable isotopes which involve biopolymers, where isotope-labeled species are generated from cells grown on labeled growth media.
Geographical wise, North America is the largest market, with a significant share followed by Europe, Asia-Pacific and Rest of the World. North American region commanded the largest revenue market and expected to grow at mid single digit CAGR. Growing use of SPECT and PET scans, technological advancements in equipment, increased utilization of fusion imaging, alpha radio immunotherapy based targeted cancer treatment and complete availability of radiopharmaceutical has led the market growth in this region. However, Asia-Pacific region is expected to grow at a high single digit CAGR from 2017 to 2024 due to increased public awareness and increase in application.
The nuclear medicine global market is a competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares and also acquiring small companies for product expansion. Some of the key players of the nuclear medicine market are Curium Pharma (France), Bayer AG (Germany), GE Company (U.S.), Cardinal Health (U.S.), Jubilant Life science (India), Lantheus Medical Imaging (U.S.), Novartis International AG (Advanced accelerator) (Switzerland), South African Nuclear Energy Corporation (NTP Radioisotopes SOC Ltd) (South Africa), Siemens AG (Germany) and Fujifilm Holding Corporation (Japan).
The report provides an in depth market analysis of the above mentioned segments across the following regions:
• North America
• Europe
• Asia-Pacific
• Rest of the World (RoW)