nuclear medicine/radiopharmaceuticals o 2014 · nuclear medicine/radiopharmaceuticals global market...

O

2014

IQ4I Research & Consultancy Pvt. Ltd.

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Nuclear Medicine/Radiopharmaceuticals Global Market

[End Users (Hospitals, Diagnostic Centers, Academic Research Laboratories & Industries)], Diagnostic Type [SPECT (Technetium (Tc-99m), Gallium (Ga-67), Iodine (I-123), Thallium (Tl-201), Yttrium (Y-90) and Others), PET (Fluorodeoxyglucose (18f-FDG), Rubidium (Rb-82), Gallium (Ga-68) and Others)] & Applications (Oncology, Cardiology, Neurology, Nephrology, and Others)], Therapeutic (Beta-Radiation, Alpha-Radiation and Brachytherapy)]

– Forecast to 2020

Copyright © 2014 IQ4I

All Rights Reserved. This document contains highly confidential

information and is the sole property of IQ4I. No part of it may be

circulated, copied, quoted, or otherwise reproduced without the

approval of IQ4I.



–Forecast to 2020



–Forecast to 2020

1.1 REPORT DESCRIPTION

Nuclear medicine global market is estimated to be $5,500 million in 2013 and is expected to

grow at a CAGR of 5.6% to reach $8,050 million by 2020. Nuclear medicinal market is mainly

classified into type (diagnosis & therapeutics), application and end-users. The global market by

diagnosis is further divided into SPECT and PET while therapeutics market is segmented into

alpha, beta and brachytherapy. Diagnosis is the largest segment, accounting for 88.6% of global

market share in 2013.

Increase in therapeutic application, public awareness, use of hybrid imaging, technological

advancements, cyclotron production of radiopharmaceuticals, efficient diagnosis and

treatments, emerging radioisotopes and replacement of traditional equipment are factors or

opportunities expected to drive the nuclear medicine market. However, stringent regulatory

issues, supply shortage, radio toxicity, high cost and huge investment are factors hindering the

market growth during the forecasted period.

North America holds the largest share for nuclear medicine market, followed by Europe.

Asia-Pacific (APAC) and Rest of the World are poised to grow at a CAGR % by 2014. This

region growth is attributed to aging population, rise in public awareness

Countries like China, India, Australia, and Brazil will be major contributors to the growth of the

market.

Some of the key players contributing at a global level for nuclear medicine market growth are

Cardinal Health, Inc. (United States), Cambridge Isotope Laboratories (United States), GE

Healthcare (United Kingdom), IBA Group (Belgium) and Lantheus Medical Imaging, Inc. (United

Sates).



–Forecast to 2020

1.2 MARKET SEGMENTATION

FIGURE 1

NUCLEAR MEDICINE MARKET: MARKET SEGMENTATION

Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, Society of Nuclear Medicine and

Molecular Imaging (SNMMI), American Society of Nuclear Cardiology (ASNC), Nuclear Medicine Associations and

Journals, WHO, EANM, JNM, Industry

Hospitals

Global Nuclear Medicine Market

Nuclear MedicineBy End Users

Nuclear MedicineBy Type

Stable IsotopesBy Isotopes

Market by Geography

Diagnostic Centers

Academic Research Lab’s

Industries

C-13

D2

O-18

N-15

S-32

Others

North America

Europe

Asia -Pacific

Rest of the World

Diagnostics

Ga-67

Therapeutics

Beta Radiation Therapy

BrachytherapyI-123

Re-186

Tc-99m

Tl-201

Y-90

Others

18f-FDG

Rb-82

Ga-68

SPECT PET

Others



–Forecast to 2020

1.3 RESEARCH METHODOLOGY

FIGURE 2

NUCLEAR MEDICINE/RADIOPHARMACEUTICALS MARKET: RESEARCH

APPROACH




1.3.1 MARKET SIZE ESTIMATION

The global nuclear medicine market size, its different segments and sub-segments is analyzed

using both top-down and bottom-up approaches. The market size and revenue calculated using

research methodology involves primary and secondary research of major players in the market,

factors influencing the market, market segmentation and geographical market scenario.

Secondary research of major players include the study of their annual and financial reports,

press release while primary research involves interviews from the supply side (CEOs, directors,

•Bottom-up and Top-down approach

•Data triangulation

•Qualitative & Quantitative analysis

•Nuclear Medicine/ Radiopharmaceuticals market segmentation

•Market size, CAGR and market trends validation

•Market size of sub segments and market shares of major players

•Upcoming trends and technological advancements in

products, applications and end users

•Validation of factors influencing market and regional market shares

•Technical information of Radiopharmaceuticals

•Strategic insights, financial revenues and competitive intelligence of

Key players

•Types and applications of Radiopharmaceuticals

•Market trends and growth scenario of sub markets and parent market

Market

Breakdown

Primary

Research

Secondary

Research



–Forecast to 2020

strategic growth managers, international/regional marketing managers, and marketing

executives) and the demand side (reference laboratory heads, hospitals, and purchase

managers).

Primary and secondary sources helped in verification of percentage shares, splits, and

breakdowns. This data is consolidated with detailed inputs and presented in this report.

FIGURE 3

NUCLEAR MEDICINE MARKET: TOP-DOWN AND BOTTOM-UP

APPROACH




Global Pharmaceuticals

market

Market share of Diagnostic, Therapeutic

Isotopes, application and end users

Regional market shares

Market share of sub

segments in regional markets

Sub segments

market size and

CAGR

Overall

market size and CAGR

Market share of the players in

the overall RadiopharmaceuticalsMarket and sub markets

Top players revenue

Cardinal Health, Inc. (United States), Mallinckrodt Plc (Ireland), ), IBA Group (Belgium)

and Lantheus Medical Imaging, Inc. (U.S.), Cambridge

Isotope Laboratories (United States), and GE Healthcare (U.K.)



–Forecast to 2020

FIGURE 4

NUCLEAR MEDICINE MARKET: FORECASTING MODEL




Historical Data

and trends of

Nuclear Medicine

Market

Evolution

Company

developmentsApplications

Download Pattern

Regulatory

Landscape

Factors Influencing

Market Growth

Market Opportunities

• Production of radio

pharmaceuticals from

Cyclotrons

• Emerging radio isotopes

• Efficient diagnosis

Agreements & Joint

ventures Contributed for

44.6%.

New product launch

Contributed for 19.6 %

Government Funding: Recently, there is an upward trend for cyclotron installations in Russia and

South America especially Argentina. The governments of South Africa and Australia have joined

hands with the help of ANSTO, Australia and NTP, South Africa to build a new reactor facility in

South Africa.

Technology

Evolution

Supply chain

trendAdoption pattern Regulations

Market ShareValue and

volume analysis

Geographical

Usage

Market Penetration

• Replacement of

old/traditional equipment

• Increasing need in emerging

economies

Market Restraints

• High cost and supply

shortage of isotopes

• Stringent Regulatory

Framework

• Reduced half life of Radio

pharmaceuticals

Investments

In May 2014, Cardinal Health

completed the acquisition of

AccessClosure a leading

manufacturer & distributor of

extra vascular devices in U.S.

Market Drivers

• Increased application

of radio pharmaceuticals

• Rise in public awareness

• Usage of hybrid imaging

•Technological advancements

.

Market trend and

growth forecasting

Historical Market Data

Impact Analysis of Market

Trends

Market Size & Forecast by

Isotope Types

Market Size & Forecast by

Applications & End Users

Global Nuclear Medicine

Market Size, Segmental

share and CAGR from

2014-2020



–Forecast to 2020

1.3.2 MARKET BREAKDOWN & DATA TRIANGULATION

FIGURE 5

NUCLEAR MEDICINE MARKET: MARKET BREAKDOWN & DATA

TRIANGULATION




Demand side:

Laboratories,

Research institutes,

Healthcare Institutions

Supply side:

Executives

from major companies,

Consultants

Market share of Nuclear

Medicine Market in Global

Pharmaceuticals market

Top -down

Primary

Research

Bottom -up

Secondary

Research

Nuclear Medicine Market

(~5.5 Bn)

(2013)

-

•Financial/Annual reports

•Investor Presentations

•SEC filings

•Scientific Journals

•Organizations/

Associations & Groups

Major player analysis

of key players:

Cardinal Health

Mallinckrodt, IBA

Group, Lantheus

and Others



–Forecast to 2020

2 EXECUTIVE SUMMARY

Nuclear Medicine plays a significant role in clinical decision making and is becoming an

increasingly popular diagnosis and treatment method for patients. It is one of the advanced

molecular imaging technologies that are gaining prominence and radio therapy is expected to

dominate in the future with rise in number of emerging alpha radiation therapy.

The global Nuclear Medicine market is worth $XX million in 2013 and is estimated to reach $XX

million by 2020, at a CAGR of XX% from 2014 to 2020. The nuclear medicine market is

classified on the basis of type (diagnosis and therapeutics), indication and end-users.

The Nuclear Medicine market is primarily driven by increased application area especially on

therapeutics, growing awareness and preference for nuclear medicine, ready availability of

isotopes, and rise in hybrid imaging. However, factors such as stringent regulatory frameworks,

high cost, reduction in reimbursement for molecular imaging and reduced half life of isotopes

along with its transportation are restraining the growth of the market.

The nuclear medicine market by type is segmented into diagnostics (SPECT and PET) and

therapeutics. Diagnosis segment accounted for the largest share of the nuclear medicine

market. This segment is expected to reach $XX million by 2020, at a CAGR of XX%.

Technetium-99 and Fluorodeoxyglucose (FDG) is the diagnostic isotope which has the largest

share of XX% and XX% of SPECT and PET diagnostic market respectively. However, the

therapeutics segment is expected to grow at a faster rate with a CAGR of XX% by 2020 as

there is an increase in use of radio nuclides for targeted therapy.

The nuclear medicine market by indication is segmented as oncology, cardiology, inflammation,

nephrology, neurology, lymphology, thyroid glands, and gastro intestinal. Cardiology holds the

largest share of $XX million in 2013 in SPECT nuclear medicine market whereas nephrology is

the fastest growing application of this segment. Increasing incidence of cardiac ailments, aging

population, and preference for non invasive diagnostic procedures are driving the market for

cardiology segment. Oncology contributes to the largest share of $XX million and is also the

fastest growing segment in PET market with a CAGR of XX%. Nephrology is the fastest growing

segment in the therapeutics with a CAGR of XX% in the nuclear medicine market.

North America accounts for the largest share of around XX% of the global nuclear medicine

market, followed by Europe. Rise in baby boomer population and increased usage of nuclear

medicine in U.S. attributed to its largest share. However stringent regulatory issues and

reimbursement policies are restricting the growth of this market. Rest of the world is the fastest-

growing region in the global nuclear medicine market with a CAGR of XX% from 2014 to 2020.

The growth of the nuclear medicine market in the APAC region is propelled by factors such as

increased awareness among physicians and patients, rise in medical expenditure and improved

health care infrastructure.



–Forecast to 2020

Mallinckrodt Plc (Ireland), Nordion Inc (Canada), Cardinal Health Inc (U.S.), NTP Radioisotopes

SOC Ltd (South Africa), Lantheus Medical Imaging Inc (U.S.), IBA Group (Belgium) and GE

Healthcare (U.K.) are some of the major players of the global nuclear medicine market.

`

FIGURE 6

GLOBAL NUCLEAR MEDICINE MARKET SHARE,

BY GEOGRAPHY (2013)




Market Share (2013) %

North AmericaEurope

Asia

RoW

2%

3%

4%

5%

6%

7%

8%

9%

10%

0% 20% 40% 60% 80% 100%

CA

GR

% (

2012

–20

20)



–Forecast to 2020

TABLE 1

GLOBAL NUCLEAR MEDICINE MARKET REVENUE,

BY GEOGRAPHY, (2012-2020) ($MN)

Region 2012 2013 2014 2020 CAGR%

(2014-2020)

North America XX XX XX XX XX

Europe XX XX XX XX XX

Asia-Pacific XX XX XX XX XX

RoW XX XX XX XX XX

Total XX XX XX XX XX




North America commanded the largest revenue of $XX million of the nuclear medicine market in

2013. The market is expected to grow at a CAGR of XX% from 2014 to 2020 to reach $XX

million by 2020. The RoW is expected to grow at the highest CAGR of XX% during the forecast

period.

TABLE 2

GLOBAL NUCLEAR MEDICINE MARKET REVENUE,

BY TYPE (2012-2020) ($MN)

Type 2012 2013 2014 2020 CAGR %

(2014-2020)

Diagnostics XX XX XX XX XX

Therapeutics XX XX XX XX XX







–Forecast to 2020

Diagnostics commanded the largest revenue of $XX million of the nuclear medicine market in

2013. The market is expected to grow at a CAGR of XX% from 2014 to 2020 to reach $XX

million by 2020. The therapeutics segment is expected to grow at the highest CAGR of XX%

during the forecast period.

TABLE 3

GLOBAL NUCLEAR MEDICINE THERAPEUTIC MARKET REVENUE,

BY TYPE (2012-2020) ($MN)

Application 2012 2013 2014 2020 CAGR %

(2014-2020)

Beta radiation therapy XX XX XX XX XX

Brachytherapy XX XX XX XX XX





Beta radiation therapy commanded the largest revenue of $XX million of the global nuclear

medicine therapeutic market in 2013. The market is expected to grow at a CAGR of XX% from

2014 to 2020 to reach $XX million by 2020. Brachytherapy is expected to grow at the highest

CAGR of XX% during the forecast period.



–Forecast to 2020

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