Nuclear Medicine: Growth will be driven by therapeutic products
The global Nuclear Medicine market is expected to reach US$ 24 billion mostly driven by the therapeutic radiopharmaceutical market.
The recent encouraging financial results of Xofigo (radium-223 dichloride) from Bayer – a product used in the treatment of prostate and bone cancers – comfort MEDraysintell analysis showing that nuclear medicine growth in the future will come through therapeutic radiopharmaceuticals. Xofigo’s revenue for the first quarter of 2014 reached US$ 49 million, an increase of 24% from the last quarter of 2013. This radiopharmaceutical will probably reach total sales of US$ 150 million by end of the first year post-launch (by end of June 2014), and above US$ 200 million for 2014 in the US market alone. Therefore, Xofigo is on its way to becoming the first blockbuster of nuclear medicine. Bayer’s success with Xofigo is the result of bringing a radiopharmaceutical on the market with financial and marketing, which was so far reserved to chemotherapeutics. It is likely that this achievement will trigger the interest of other conventional pharmaceutical companies and open a new era for nuclear medicine.
Recently, a number of analysts have been stating that a key driver for future nuclear medicine market growth is coming from PET (Positron Emission Tomography), with increasing utilization of PET in cardiology and neurology procedures. The most recent expert report from MEDraysintell shows that the main driver of the future nuclear medicine market will come from therapeutic radiopharmaceuticals, while diagnostic radiopharmaceuticals will maintain an average limited growth of approximately 5% a year. This is mainly driven by volume, despite the introduction of new tracers.
The analysts at MEDraysintell are suggesting in their new report, “Opportunities in Nuclear Medicine, Edition 2014”, a different evolution for the nuclear medicine market, based on some fundamental statements and assumptions. Radiodiagnostics will remain the unique tools for true assessment of biological function. The use of both radiodiagnostics and radiotherapeutics will continue growing, but the rate depends on the interest of investors, who are pulled by the politics of different healthcare systems. Public healthcare systems may not be willing to cover the systematic repetitive imaging of large-scale diseases for instance neurodegenerative diseases. Above all, the nuclear medicine industry does not have the financial means to develop without the robust support of the conventional pharmaceutical industry. SPECT (Single Photon Emission Computed Tomography) with technetium-99m will remain the cheapest nuclear medicine procedure, and the molybdenum crisis will be solved within the next five years. Furthermore, PET tracers based on gallium-68 will most likely have a strong future. Pharmaceutical companies will gradually become interested in radiotherapeutics, once they are considered equivalent to chemotherapeutics, including their limited side effects, low manufacturing costs and high efficacy. However, pharmaceutical companies will continue to disregard radiodiagnostics, except when linked to a therapy, and leave these expertise to radiopharmaceutical companies. Transforming one of the new radiodiagnostic agents into a blockbuster would be almost impossible.
MEDraysintell analysis of the nuclear medicine evolution disagrees with many previous market reports. The study is founded on the author’s experience in the nuclear medicine industry and takes into account the realistic pharmaceutical environment, while other analyses are mostly based on the biological profiles of molecules and extrapolation of previous results.
This 800-page report is a comprehensive evaluation showing the opportunities, based on the description and analysis of more than 300 radiopharmaceuticals and radionuclides and more than 130 companies and institutions active in the nuclear medicine market. This report presented in part in form as a directory, takes into account the economic and regulatory environment and points for each radionuclide, tracer and drug or company the specific questions that could lead to success or failure, and, therefore, participate in the building of a new nuclear medicine landscape.
More information and a table of contents are available at: www.medraysintell.com/
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MEDraysintell was created in 2013 by Paul-Emmanuel Goethals (CSIntell) and Richard Zimmermann (Chrysalium Consulting). It combines more than 40 years of experience in radiotherapy, particle therapy and nuclear medicine. Our aim is to form an international team of experts in the field of medical radiation, and provide strategic intelligence in nuclear medicine, radiotherapy, proton therapy and brachytherapy. We want to help our clients understand the markets and the competitive environment, as well as see the potential for mergers, acquisitions (M&A) and technology development. MEDraysintell wants to support manufacturers of radiopharmaceuticals, therapeutic radioisotopes, suppliers of equipment and software and investors interested in the industry.
Paul-Emmanuel Goethals and Richard Zimmermann
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