Nuclear Medicine/Radiopharmaceutical Global Market – Forecast To 2027

Nuclear Medicine/Radiopharmaceutical Global Market – Forecast To 2027

Over the past 50 years, the nuclear medicine field has displayed a strong link between investments in chemistry and the development of radionuclide and radio-labeled compounds which have 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 levels for probing, tracking tissue function, study disease progression and assessing treatment responses.

The nuclear medicine global market is poised to grow at a high single digit CAGR from 2020 to 2027 to reach $10,742.7 million by 2027. Increasing radioisotopes applications, rise in public awareness, use of SPECT/CT and PET/CT imaging scans, the 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 equipment are the opportunities likely to propel the growth of the nuclear medicine market.

The nuclear medicinal market is classified based on modality into diagnosis and therapeutics. The diagnostics market commanded the largest market revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027 due to an increase in SPECT and PET procedures. The therapeutics segment is projected to grow at high teen CAGR from 2020 to 2027 due to technological advancements in the targeted treatment of cancers. Potential new radioisotopes in the 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 commanded the largest revenue in 2020 and is expected to grow at low single digit CAGR from 2020 to 2027 due to an increase in TC-99m isotope applications and product approvals. Among SPECT is segmented based on isotopes into Technetium (Tc-99m), Thallium (Tl-201), Gallium (Ga-67), Iodine (I-123), Samarium (Sm-153), Xenon (Xe-133), Rhenium (Re-186) and others. Technetium (Tc-99m) accounted for the largest share in 2020 and is projected to grow at a mid single digit CAGR from 2020 to 2027 due to its extensive usage in various diagnostic applications and emerging sources to meet the demand. SPECT market by application is segmented into cardiology, pulmonary, oncology, nephrology, neurology, inflammation, thyroid gland, lymphology and others. Cardiology accounted for the largest share in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027 due to an increase in the number of cardiac imaging cases using Tc-99m. Oncology is expected to grow at mid single digit CAGR from 2020 to 2027 due to increasing expanding usage in early screening tests in vulnerable populations in various developed countries.

PET is the fastest-growing segment with mid single digit CAGR from 2020 to 2027 due to an increase in the adoption of cyclotron for the production of PET isotopes increasing its availability. The PET isotopes include Fluorodeoxyglucose (18F-FDG), Gallium (Ga-68), Rubidium (Rb-82) and others. Fluorodeoxyglucose (18F-FDG) accounted for the largest share in 2020 and the market is expected to grow at mid single digit CAGR from 2020 to 2027. Gallium (Ga-68) is expected to grow at high double digit CAGR from 2020 to 2027 due to an increase in usage as theranostic pair in assessing the suitability of patient for Lutathera and many emerging targeted radiotherapy agents. PET by applications is segmented into cardiology, oncology, neurology, inflammation and others. Oncology accounted for the largest share in 2020 and is projected to grow at high single digit CAGR from 2020 to 2027 due to an increase in the patient pool of lung, thyroid, brain breast cancer and dementia related conditions.

The therapeutic nuclear medicine market is segmented based on radiation type into alpha radiation, beta radiation and brachytherapy. Beta radiation accounted for the largest share of in 2020 and is projected to grow at high double digit CAGR of from 2020 to 2027. 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. Lu-177 commanded the largest share in 2020 and is expected to grow at high double digit CAGR from 2020 to 2027 due to increased adoption of Lu-177 based radiopharmaceuticals for the treatment of neuroendocrine tumor and anticipated launch of new treatment products based on the isotope. Strontium (Sr-89) is expected to grow at a strong CAGR from 2020 to 2027. Brachytherapy isotopes are further segmented into I-125, Cs-131, Ir-192, Pd-103 and others. I-125 market accounted for the largest share in 2020 and is projected to grow at low single digit CAGR from 2020 to 2027 due to increasing usage in the 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 (GEP-NETs), metastatic bone cancer, breast cancer and others. The GEP-NETs market accounted for the largest share in 2020 and is expected to grow at high double digit CAGR from 2020 to 2027. Prostate Cancer is expected to grow at a strong CAGR from 2020 to 2027 due to advanced clinical trial stage (phase 3) and predicted launch of Lu-177 PSMA-617 product in 2021.

Nuclear medicine based on end-user is segmented into hospitals, ambulatory centers, diagnostic centers and others. Hospital accounted for the largest share in 2020 and is projected to grow at high double digit CAGR from 2020 to 2027 due to the ready availability of cyclotrons for the generation of isotope and use of advanced hybrid imaging.

The stable isotope global market is expected to grow at low single digit CAGR from 2020 to 2027 to reach $284.3 million by 2027. The Nuclear Medicine market includes stable isotopes 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 the largest share n 2020 and is the fastest-growing market with a projected CAGR of 3.3% from 2020 to 2027 due to the use of deuterium as a dietary supplement of deuterium-depleted water which helps to extend the survival rate of lung cancer patient via exerting anticancer effect and modification of deuterium leads to the development of novel, highly differentiated drugs which have therapeutic applications in diabetic nephropathy, hot flashes, spasticity, neuropathic pain and multiple melanomas. The stable isotope applications market is segmented into diagnostics-therapy, pharmaceutical companies and others. The diagnostics and therapy market commanded the largest market revenue in 2020 and is expected grow at low single digit CAGR from 2020 to 2027 due to use in diagnosis and treatment of pancreas, liver and intestine related disorders. The pharmaceuticals is the fastest-growing segment at low single digit CAGR from 2020 to 2027 due to novel developments in the utilization of stable isotopes that involve biopolymers, where isotope-labeled species are generated from cells grown on labeled growth media.

Geographical wise, North American region commanded the largest revenue in 2020 and is expected to grow at low single digit CAGR from 2020 to 2027. The growing use of SPECT and PET scans, technological advancements in equipment, increased utilization of fusion imaging, increasing awareness of radiopharmaceuticals among radiologists, alpha radio-immunotherapy-based targeted cancer treatment are driving the market.

Some of the key players of the nuclear medicine market are Curium Pharma (France), Bayer Group (Germany), GE Healthcare (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), 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)


1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 KEY TAKE AWAY
2.2 REPORT SCOPE
2.3 REPORT DESCRIPTION
2.4 MARKETS COVERED
2.5 STAKEHOLDERS
2.6 RESEARCH METHODOLOGY
2.6.1 MARKET SIZE ESTIMATION
2.6.2 MARKET CRACKDOWN AND DATA TRIANGULATION
2.6.3 SECONDARY SOURCES
2.6.4 PRIMARY SOURCES
2.6.5 KEY DATA POINTS FROM SECONDARY SOURCES
2.6.6 KEY DATA POINTS FROM PRIMARY SOURCES
2.6.7 ASSUMPTIONS
3 MARKET ANALYSIS
3.1 INTRODUCTION
3.2 MARKET SEGMENTATION
3.3 FACTORS INFLUENCING MARKET
3.3.1 DRIVERS AND OPPORTUNITIES
3.3.1.1 Increasing applications of radiopharmaceuticals
3.3.1.2 Production of radiopharmaceuticals from cyclotrons
3.3.1.3 Efficient diagnosis and treatments
3.3.1.4 Increasing interest in theranostics
3.3.1.5 Rise in public awareness
3.3.1.6 Technological advancements
3.3.1.7 Increasing demand in emerging markets
3.3.2 RESTRAINTS AND THREATS
3.3.2.1 The shorter half-life of radiopharmaceuticals
3.3.2.2 High cost and supply shortage of isotopes
3.3.2.3 Radio toxicity
3.3.2.4 Shortage of qualified technicians
3.3.2.5 Withdrawal of radiopharmacy products due to limited commercial adoption
3.3.2.6 Regulatory issues
3.3.2.7 Threat from traditional/alternative diagnostic procedures
3.3.2.8 Huge capital investment
3.4 PROBLEM AREAS
3.4.1 CLOSURE OF REACTORS
3.5 WINNING IMPERATIVES
3.5.1 AVAILABILITY OF TECHNETIUM
3.6 REGULATORY GUIDELINES
3.6.1 UNITED STATES
3.6.2 EUROPE
3.6.3 JAPAN
3.6.4 INDIA
3.6.5 CHINA
3.6.6 SOUTH KOREA
3.7 REIMBURSEMENT SCENARIO AND CHALLENGES
3.8 CLINICAL TRIALS
3.9 EMERGING ISOTOPES
3.10 TECHNOLOGICAL ADVANCEMENTS
3.10.1 COMPTON CAMERA
3.10.2 SUBTLE PET
3.10.3 PRODUCTION OF ISOTOPES THROGUH CYCLOTRONS
3.10.4 LINAC BASED TC-99M PRODUCTION
3.10.5 AUGER ELECTRONS
3.11 SUPPLY CHAIN ANALYSIS OF NUCLEAR MEDICINE
3.11.1 REACTORS
3.11.2 CYCLOTRON
3.11.3 GENERATORS
3.11.4 LINAC BASED TC-99M PRODUCTION METHOD
3.11.5 PROCESSING FACILITY
3.11.6 HOSPITALS AND CENTRAL RADIO PHARMACIES
3.11.7 SUPPLY CHAIN ANALYSIS OF LUTITIUM-177 (Lu-177)
3.11.8 SUPPLY CHAIN ANALYSIS OF GALLIUM-68 (Ga-68)
3.11.9 SUPPLY CHAIN ANALYSIS OF ACTINIUM-225 (Ac-225) AND BISMUTH-213 (Bi-213)
3.11.10 SUPPLY CHAIN ANALYSIS OF RUBIDIUM (Rb-82) AND STRONTIUM-82 (Sr-82)
3.11.11 SUPPLY CHAIN ANALYSIS OF RADIUM-223 (Ra-223)
3.12 LIST OF POTENTIAL NEW REACTORS
3.13 LIST OF FDA APPROVED RADIOPHARMACEUTICALS
3.14 PORTER'S FIVE FORCE ANALYSIS
3.14.1 THREAT OF NEW ENTRANTS
3.14.2 THREAT OF SUBSTITUTES
3.14.3 COMPETITIVE RIVALRY
3.14.4 BARGAINING POWER OF SUPPLIERS
3.14.5 BARGAINING POWER OF BUYERS
3.15 MARKET SHARE ANALYSIS BY MAJOR PLAYERS
3.15.1 NUCLEAR MEDICINE MARKET
3.15.2 SPECT MARKET
3.15.3 PET MARKET
3.15.4 NUCLEAR MEDICINE THERAPEUTIC MARKET
3.15.5 Tc-99 MARKET
3.15.6 F-18 MARKET
3.15.7 Ga-68 MARKET
3.15.8 Rb-82 MARKET
3.16 NUCLEAR MEDICINE-FUNDING SCENARIO
3.17 NUCLEAR MEDICINE – DEALS AND APPROVALS
4 NUCLEAR MEDICINE GLOBAL MARKET, BY MODALITY
4.1 INTRODUCTION
4.2 DIAGNOSTICS
4.2.1 NUCLEAR MEDICINE FOR DIAGNOSIS, BY ISOTOPES
4.2.1.1 SPECT, by isotopes
4.2.1.1.1 Technetium (Tc-99m)
4.2.1.1.2 Thallium (Tl-201)
4.2.1.1.3 Gallium (Ga-67)
4.2.1.1.4 Iodine (I-123)
4.2.1.1.5 Samarium (Sm-153)
4.2.1.1.6 Xenon (Xe-133)
4.2.1.1.7 Rhenium (Re-186)
4.2.1.1.8 Others (In-111, Y-90, Cr-51)
4.2.1.2 PET, by isotopes
4.2.1.2.1 Fluorodeoxyglucose (18f-Fdg)
4.2.1.2.2 Gallium (Ga-68)
4.2.1.2.3 Rubidium (Rb-82)
4.2.1.2.4 Others (C-11, N-13, Cu-64, Zr-89)
4.2.2 NUCLEAR MEDICINE FOR DIAGNOSIS, BY APPLICATION
4.2.2.1 SPECT by application
4.2.2.1.1 Cardiology
4.2.2.1.2 Pulmonary
4.2.2.1.3 Oncology
4.2.2.1.4 Nephrology
4.2.2.1.5 Neurology
4.2.2.1.6 Inflammation
4.2.2.1.7 Thyroid Glands
4.2.2.1.8 Lymphology
4.2.2.1.9 Others
4.2.2.2 PET by application
4.2.2.2.1 Oncology
4.2.2.2.2 Neurology
4.2.2.2.3 Cardiology
4.2.2.2.4 Inflammation
4.2.2.2.5 Others
4.3 THERAPEUTICS
4.3.1 NUCLEAR MEDICINE FOR THERAPEUTICS, BY RADIATION TYPE
4.3.1.1 Beta Radiation Therapy
4.3.1.1.1 Yttrium (Y-90)
4.3.1.1.2 Iodine (I-131)
4.3.1.1.3 Lutetium (Lu-177)
4.3.1.1.4 Samarium (Sm-153)
4.3.1.1.5 Rhenium (Re-186)
4.3.1.1.6 Strontium (Sr-89)
4.3.1.1.7 Erbium (Er-169)
4.3.1.1.8 Others
4.3.1.2 Alpha Radiation Therapy, By Isotopes (Ra-223)
4.3.1.3 Brachytherapy, By Isotopes
4.3.1.3.1 Iodine (I-125)
4.3.1.3.2 Cesium (Cs-131)
4.3.1.3.3 Iridium (Ir-192)
4.3.1.3.4 Palladium (Pd-103)
4.3.1.3.5 Others
4.3.1.4 Nuclear Medicine Therapeutics, By Application
4.3.1.5 Prostate Cancer
4.3.1.6 Thyroid Cancer
4.3.1.7 Liver Cancer
4.3.1.8 GEP-NET Therapeutics
4.3.1.9 Metastatic Bone Cancer Therapeutics
4.3.1.10 Breast Cancer Therapeutics
4.3.1.11 Other Applications
5 NUCLEAR MEDICINE GLOBAL MARKET, BY END-USERS
5.1 INTRODUCTION
5.2 HOSPITAL
5.3 AMBULATORY CENTERS
5.4 DIAGNOSTIC CENTERS
5.5 OTHER END-USERS
6 STABLE ISOTOPES
6.1 INTRODUCTION
6.2 MARKET ANALYSIS
6.2.1 FACTORS INFLUENCING MARKET
6.2.2 DRIVERS AND OPPORTUNITIES
6.2.2.1 Increase in research activities (pharmaceuticals and biotechnology sectors)
6.2.2.2 Increasing applications
6.2.3 RESTRAINTS AND THREATS
6.2.3.1 High cost of stable isotopes
6.2.3.2 Stable isotopes-side effects and safety issues
6.2.3.3 Stringent regulations for manufacturing and use of stable isotopes
6.3 STABLE ISOTOPES MARKET, BY ISOTOPE
6.3.1 CARBON (C-13)
6.3.2 DEUTERIUM (D2)
6.3.3 OXYGEN (O-18)
6.3.4 NITROGEN (N-15)
6.3.5 SULPHUR (S-32)
6.3.6 OTHERS
6.4 STABLE ISOTOPES MARKET, BY APPLICATION
6.4.1 INTRODUCTION
6.4.2 DIAGNOSTICS AND THERAPY
6.4.3 PHARMACEUTICALS
6.4.4 OTHERS
6.5 STABLE ISOTOPES MARKET, BY GEOGRAPHY
6.5.1 INTRODUCTION
6.5.2 NORTH AMERICA
6.5.3 EUROPE
6.5.4 ASIA-PACIFIC
6.5.5 REST OF THE WORLD
7 NUCLEAR MEDICINE GLOBAL MARKET BY REGION
7.1 INTRODUCTION
7.2 NORTH AMERICA
7.2.1 U.S.
7.2.2 REST OF N.A.
7.3 EUROPE
7.3.1 GERMANY
7.3.2 FRANCE
7.3.3 ITALY
7.3.4 REST OF E.U.
7.4 APAC
7.4.1 JAPAN
7.4.2 CHINA
7.4.3 SOUTH KOREA
7.4.4 REST OF APAC
7.5 REST OF THE WORLD
7.5.1 TURKEY
7.5.2 BRAZIL
7.5.3 OTHERS
8 COMPETITIVE LANDSCAPE
8.1 INTRODUCTION
8.2 APPROVALS
8.3 COLLABORATION
8.4 ACQUISITION
8.5 EXPANSION
8.6 OTHERS
9 MAJOR PLAYER PROFILES
9.1 BAYER GROUP
9.1.1 OVERVIEW
9.1.2 FINANCIALS
9.1.3 PRODUCT PORTFOLIO
9.1.4 KEY DEVELOPMENTS
9.1.5 BUSINESS STRATEGY
9.1.6 SWOT ANALYSIS
9.2 BRACCO S.P.A
9.2.1 OVERVIEW
9.2.2 FINANCIALS
9.2.3 PRODUCT PORTFOLIO
9.2.4 KEY DEVELOPMENTS
9.2.5 BUSINESS STRATEGY
9.2.6 SWOT ANALYSIS
9.3 CARDINAL HEALTH INC.
9.3.1 OVERVIEW
9.3.2 FINANCIALS
9.3.3 PRODUCT PORTFOLIO
9.3.4 KEY DEVELOPMENTS
9.3.5 BUSINESS STRATEGY
9.3.6 SWOT ANALYSIS
9.4 CDH INVESTMENTS (CDH GENTECH LTD), (SIRTEX LTD.)
9.4.1 OVERVIEW
9.4.2 FINANCIALS
9.4.3 PRODUCT PORTFOLIO
9.4.4 KEY DEVELOPMENTS
9.4.5 BUSINESS STRATEGY
9.4.6 SWOT ANALYSIS
9.5 CURIUM PHARMA
9.5.1 OVERVIEW
9.5.2 FINANCIALS
9.5.3 PRODUCT PORTFOLIO
9.5.4 KEY DEVELOPMENTS
9.5.5 BUSINESS STRATEGY
9.5.6 SWOT ANALYSIS
9.6 FUJIFILM HOLDINGS CORPORATION
9.6.1 OVERVIEW
9.6.2 FINANCIALS
9.6.3 PRODUCT PORTFOLIO
9.6.4 KEY DEVELOPMENTS
9.6.5 BUSINESS STRATEGY
9.6.6 SWOT ANALYSIS
9.7 GE HEALTHCARE
9.7.1 OVERVIEW
9.7.2 FINANCIALS
9.7.3 PRODUCT PORTFOLIO
9.7.4 KEY DEVELOPMENTS
9.7.5 BUSINESS STRATEGY
9.7.6 SWOT ANALYSIS
9.8 JUBILANT LIFE SCIENCES
9.8.1 OVERVIEW
9.8.2 FINANCIALS
9.8.3 PRODUCT PORTFOLIO
9.8.4 KEY DEVELOPMENTS
9.8.5 BUSINESS STRATEGY
9.8.6 SWOT ANALYSIS
9.9 LANTHEUS MEDICAL IMAGING, INC.
9.9.1 OVERVIEW
9.9.2 FINANCIALS
9.9.3 PRODUCT PORTFOLIO
9.9.4 KEY DEVELOPMENTS
9.9.5 BUSINESS STRATEGY
9.9.6 SWOT ANALYSIS
9.10 NOVARTIS INTERNATIONAL AG
9.10.1 OVERVIEW
9.10.2 FINANCIALS
9.10.3 PRODUCT PORTFOLIO
9.10.4 KEY DEVELOPMENTS
9.10.5 BUSINESS STRATEGY
9.10.6 SWOT ANALYSIS

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