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Radiopharmaceuticals - Global Market Trajectory & Analytics

  • ID: 835008
  • Report
  • August 2020
  • Region: Global
  • 589 Pages
  • Global Industry Analysts, Inc
New Therapeutic Radiopharmaceuticals to Drive Global Market
Sharp Decline in Patient Throughput in Imaging Centers Due to COVID-19 Outbreak Induces a -6.3% Erosion in Demand for Radiopharmaceuticals

The global market for Radiopharmaceuticals is expected to slump by -6.3% in the year 2020 and thereafter recover to reach US$9.9 billion by the year 2027, trailing a post COVID-19 CAGR of 9.4% over the analysis period 2020 through 2027. The healthcare supply chain is navigating unchartered, rough waters and struggling to maintain pace with rapidly increasing cases of COVID-19. The pandemic has devastated nearly all segments associated with the healthcare sector, such as medical devices, pharmaceuticals and essential supplies. Healthcare organizations globally are finding it extremely challenging to serve patients while ensuring safety of the medical staff due to marked shortage of supplies as a result of supply chain disruptions. The scenario is complicated by unprecedented scale of the pandemic along with few sourcing options and export restrictions. Amid the COVID-19 outbreak, most companies have reported some form of disruption in their supply chains owing to transportation restrictions. The crisis has also resulted in supply issues associated with radiopharmaceuticals, radioisotopes and kits for therapeutic and diagnostic applications. Nuclear medicine and personalized medicine are heavily reliant on the timely availability of radioisotopes. With air freight restrictions imposed, transport of Mo-99, Tc-99m and other radioisotopes remains impacted during COVID times. NTP Radioisotopes is currently operating at below normal capacity as a result of logistical challenges in South Africa.

While the US accounts for nearly half of the market, it relies on three suppliers of Molybdenum-99 and Technetium-99m. In addition, majority of African nations depend heavily on a single supplier of these radioisotopes that are used for cancer imaging. The COVID-19 outbreak has complicated the scenario owing to ongoing restrictions on flights that have severely disrupted global supply chains, prompting participants to ensure reliable radiopharmaceuticals supply for nuclear medicine. Participants are also facing issues in procuring cold kits for simplifying radiopharmaceutical production. These supply constraints along with shortage of qualified staff has made it challenging for countries to perform tasks such as labeling and quality assurance, hampering complex procedures. There are issues related to particular radiopharmaceuticals. While 18F-FDG is extensively used, non-FDG tracers remained in limited quantities across low-income nations owing to their extensive nature, regulatory restrictions and lack of cyclotron. In addition, various countries are unable to access therapeutic tracers including 123I, 123I-MIBG, and 131I-MIBG due to supply and cost issues. The scenario remains challenging for non-COVID-19 treatment solutions such as medical radioisotopes, which are used in diagnosis and treatment of cancer and certain health conditions by healthcare providers around the world. Every year, millions of patients are administered with radioisotopes for diagnosis and therapeutic purposes. With governments defining the medical radioisotope production facilities as 'essential', production operations continued during the COVID-19 pandemic period. Reactors engaged in production of radioisotopes remained operational in compliance with the relevant IAEA safety standards and in adherence to relevance measures to prevent the effects and spread of COVID-19 disease. Reactors based out of Argentina, Australia, Belgium, Czech Republic, Netherlands, Poland, Russia , USA, and South Africa, account for almost the entire world production of radioisotopes, and the radio compounds produced in these countries are transported worldwide mainly via aerial route.

In the post pandemic period, pent-up demand for cancer and other chronic diseases will push up demand for radioisotopes. The huge unmet needs and the ensuing massive opportunity for imaging technologies and services will benefit long-term growth of radiopharmaceuticals. Growth during this period will continue to benefit from the growing mainstream interest in nuclear medicine, and the development of new radionuclide's for cancer nuclear imaging and internal radiotherapy. A key trend of the pre-virus period that will emerge to spur gains is the shifting of healthcare from fee based systems to value based systems and the resulting new commercial value placed on hybrid molecular imaging techniques which utilize radiopharmaceuticals for accurate and early disease diagnosis. Development of new and innovative radiopharmaceuticals has and will continue to spur the use of PET/CT and SPECT/CT imaging platforms across new clinical areas including cardiology, neurology, orthopedics, pulmonology and oncology. The epidemic spread of cancer will fuel interest in non-invasive tumor receptor imaging thereby pushing up the significance of molecular imaging for its ability to enable better understanding of tumor biology so as to develop more personalized and targeted treatment regimes. Other growth drivers will include growing incidence of cardiovascular diseases and new launch of cardiac radiopharmaceuticals such as flurpiridaz f-18 and ammonia n-13 in the field of cardiovascular disease imaging; expected developments in non-reactor based production of tc-99m in a bid to overcome production challenges of Tc-99m; growing population and healthcare burden; pressing need for effective healthcare solutions; government policy led focus on healthcare infrastructure development; and concerted efforts taken to promote nuclear medicine in emerging Asian economies grappling with the economic challenges of providing affordable healthcare.

Competitors identified in this market include, among others:
  • Actinium Pharmaceuticals Inc.
  • Alliance Medical
  • Alseres Pharmaceuticals Inc.
  • Avid Radiopharmaceuticals
  • Bayer HealthCare, Radiology Division
  • Bracco Diagnostics Inc.
  • Cardinal Health, Inc.
  • GE Healthcare
  • Immunomedics, Inc.
  • Ion Beam Applications SA
  • Jubilant Pharma
  • Lantheus Medical Imaging Inc.
  • Medi-Radiopharma Ltd.
  • Nordion, Inc.
  • Peregrine Pharmaceuticals, Inc.
  • PETNET Solutions Inc.
  • Positron Corporation
  • Triad Isotopes Inc.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19-Led Disruptions Exhaust Radiopharmaceuticals Supply to Hinder Nuclear Medicine Procedures in Most Countries
  • EXHIBIT 1: Imaging Screening Volume % Change 1H 2019 Vs 1H 2020 in U.S Hospitals
  • Distribution Bottlenecks amid COVID-19 Crisis Leave Hospitals Struggling with Seamless Supply of Medical Radioisotopes
  • Nuclear Medicine Services Limp Back to Normality after Easing of COVID-19 Restrictions
  • COVID-19 Presents Generational Opportunity
  • Radiopharmaceuticals: A Prelude
  • Mechanism of Action
  • Global Supply Shortages Continue to Challenge Market Growth
  • EXHIBIT 2: A Glimpse at Mo-99 Processors Worldwide
  • EXHIBIT 3: Nuclear Research Reactor Irradiators Worldwide: A Snapshot
  • Outlook
  • Key Market Drivers
  • Market Restraints
  • Recognition of Intrinsic Cost Benefits: Critical to Market Acceptance
  • Classification of Radiopharmaceuticals
  • Diagnostic Radiopharmaceuticals: The Dominant Segment
  • Key Drivers
  • Positron Emission Tomography (PET)
  • Major PET Isotopes and their Applications
  • Single Photon Emission Computed Tomography (SPECT)
  • Major Isotopes and their Diagnostic Applications
  • Therapeutic Radiopharmaceuticals
  • Select Isotopes and their Therapeutic Applications
  • Key Drivers
  • Competitive Landscape
  • EXHIBIT 4: Radiopharmaceuticals Competitor Market Share Scenario Worldwide (in %): 2019
  • Recent Industry Activity
  • World Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Emergence of Radiotheranostics: Dual-Functioning Radiopharmaceuticals
  • Changing Role of Radiopharmaceuticals in Diagnostic and Therapeutic Applications
  • Advent of New Radiopharmaceuticals Widen Scope
  • Select New Products
  • Industry Focus Gears up for Innovative Radiopharmaceuticals with Therapeutic Benefits
  • Select Commercially Available Therapeutic Radiopharmaceuticals
  • PET Eclipses SPECT in Cardiovascular Imaging
  • EXHIBIT 5: Worldwide Installed Base of Nuclear Imaging Equipment by Modality, PET Vs SPECT: 2019
  • Cardiac Amyloidosis Visualization: A Potential Application for PET
  • Innovative Radiopharmaceuticals to Boost Cardiac Applications
  • EXHIBIT 6: Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Application of PET in Drug Development to Expand Opportunities
  • Intra-operative Lymphatic Mapping (ILM): Creates New Opportunities for Radiopharmaceuticals in Cancer Detection
  • Personalized Medicine Drives Nuclear Medicine
  • EXHIBIT 7: Drug Ineffectiveness for Select Therapeutic Categories as a Percentage of Patient Population
  • EXHIBIT 8: Global Personalized Medicine Market: Revenues in US$ Million for the Years 2019 and 2024
  • Rise in Incidence of Neurological Disorders to Drive Growth
  • Rising Cancer Incidence Worldwide Spurs Demand
  • EXHIBIT 9: Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • EXHIBIT 10: Global Number of New Cancer Cases and Cancer-related Deaths by Cancer Site for 2018
  • EXHIBIT 11: Number of New Cancer Cases and Deaths (in Million) by Region for 2018
  • Ageing Population: A Vital Demography
  • EXHIBIT 12: Global Aging Population: Population of 65+ Individuals (in Thousands) by Region for 2019 and 2030
  • EXHIBIT 13: Global Cancer Deaths by Age Group (in %) for 2019
  • Rise in Healthcare Expenditure to Drive Growth
  • EXHIBIT 14: Elderly Healthcare Expenditure as a % of GDP
  • EXHIBIT 15: World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Relevant Aspects of Radiopharmaceutical Production
  • Regulatory Regime Governing Production and Use of Radiopharmaceuticals
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • Market Overview
  • Diagnostic Applications Stimulate Future Growth
  • Demographic Changes Offer Growth Opportunities
  • EXHIBIT 16: US Elderly Population: Expected Growth Rates Over the Years 2005-2025
  • Rising Incidence of Cancer: A Major Growth Driver
  • EXHIBIT 17: Leading Sites of New Cancer Cases in Males: 2020
  • EXHIBIT 18: Leading Sites of New Cancer Cases in Females: 2020
  • Cardiovascular Imaging to Lead Volume Growth
  • Radiopharmaceuticals Usage Strengthens in PET Imaging
  • Radioisotope/Radiopharmaceuticals Supply Scenario
  • Passing of Medicare Diagnostic Radiopharmaceutical Payment Equity Act
  • Market Analytics
  • CANADA
  • Market Overview
  • Efforts on to Address Mo-99 Supply Shortage
  • Market Analytics
  • JAPAN
  • Market Overview
  • Market Analytics
  • CHINA
  • Market Overview
  • Market Analytics
  • EUROPE
  • Market Overview
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Market Overview
  • Market Analytics
  • AUSTRALIA
  • INDIA
  • Market Overview
  • Market Analytics
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 77
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