Global Nuclear Medicine Market 2014 -2019
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Transcript of Global Nuclear Medicine Market 2014 -2019
GLOBALNUCLEAR MEDICINEMARKET
Market Shares, Forecasts& Trends
2014 - 2019
mordorintelligence.com
TABLE OF CONTENTS
1 INTRODUCTION ................................................................................................................................. 1
1.1 REPORT DESCRIPTION ..................................................................................................................... 1
1.2 MARKETS COVERED .................................................................................................................. 2
1.3 MAJOR STAKEHOLDERS ............................................................................................................ 3
1.4 RESEARCH METHODOLOGY ....................................................................................................... 5
2 EXECUTIVE SUMMARY ...................................................................................................................... 6
3. MARKET OVERVIEW .............................................................................................................................. 7
3.1Market Drivers ................................................................................................................................. 7
3.1.3 Growing Public Awareness for healthcare ................................................................................... 7
3.2 MARKET CONSTRAINTS ...................................................................................................................... 8
3.2.1 Short Half life of Radiopharmaceuticals ......................................................................................... 8
3.2.2 High Capital Investment ................................................................................................................ 8
3.2.3 Regulatory Guidelines ................................................................................................................... 8
3.2.4 Reimbursement ......................................................................................................................... 9
3.3 OPPORTUNITIES ........................................................................................................................... 9
3.3.1 Increasing Imaging Technologies ...................................................................................................... 9
3.3.2 Potential Radioisotopes in Pipeline ............................................................................................. 9
3.3.3 Increasing Neurological Applications ........................................................................................ 10
3.3.4 Cyclotron based production ..................................................................................................... 11
3.4 THREATS .................................................................................................................................... 12
3.4.1 Shutdown of Nuclear Reactors ................................................................................................. 12
4. GLOBAL NUCLEAR MEDICINE MARKET SEGMENTATION........................................................................ 13
4.1 Global Nuclear Medicine Market ..................................................................................................... 13
4.2 Global Markets: Segmentation by Diagnostics ................................................................................. 14
4.2.1 Introduction ........................................................................................................................... 14
4.2.2 SPECT Market ........................................................................................................................ 16
4.2.3 PET Market............................................................................................................................. 18
4.3 Global Markets: Segmentation by Therapeutics ............................................................................... 20
4.3.1 Introduction ........................................................................................................................... 20
4.3.2 Alpha Emitters ........................................................................................................................ 20
4.3.3 Beta Emitters ......................................................................................................................... 20
4.3.4 Brachytherapy ........................................................................................................................ 21
4.4 GLOBAL MARKET SEGMENTATION BY APPLICATION ....................................................................... 24
4.4.1 SPECT Market ........................................................................................................................ 24
4.4.2 PET Market............................................................................................................................. 24
4.5 MARKET SEGMENTATION BY GEOGRAPHY ......................................................................................... 25
4.5.1 North America Nuclear Medicine Market ...................................................................................... 25
UNITED STATES .............................................................................................................................. 26
CANADA ......................................................................................................................................... 27
MEXICO .......................................................................................................................................... 28
4.5.2 EUROPE ..................................................................................................................................... 28
GERMANY ...................................................................................................................................... 28
UNITED KINGDOM ........................................................................................................................... 29
FRANCE ......................................................................................................................................... 30
SPAIN ............................................................................................................................................ 31
ITALY ............................................................................................................................................. 31
4.5.3 ASIA - PACIFIC ........................................................................................................................... 35
India............................................................................................................................................... 36
China.............................................................................................................................................. 37
South Korea .................................................................................................................................... 38
Japan ............................................................................................................................................. 40
5. COMPETITIVE LANDSCAPE .............................................................................................................. 44
5.1 MERGERS, ACQUISITIONS & SPIN OFFS.......................................................................................... 44
5.2 COLLABORATIONS ........................................................................................................................ 46
5.3 PRODUCT LAUNCHES .................................................................................................................... 49
6. PROFILES OF KEY COMPANIES ........................................................................................................ 53
6.1 COVIDIEN ...................................................................................................................................... 53
6.2 LANTHEUS MEDICAL IMGAGING..................................................................................................... 55
6.3 IBA GROUP ................................................................................................................................... 57
6.4 TRIAD ISOTOPES ........................................................................................................................... 60
6.5 SIEMENS HEALTHCARE ................................................................................................................. 62
6.6 NTP RADIOISOTOPES .................................................................................................................... 64
6.7 Bracco Imaging S.P.A. ................................................................................................................... 65
6.8 BRACCO PHARMA ......................................................................................................................... 66
6.9 Cambridge Isotope Laboratories, Inc. .............................................................................................. 68
6.10 Cardinal Health, Inc...................................................................................................................... 70
6.11 GE Healthcare (Subsidiary Of General Electric Company)................................................................ 73
6.12 Nordion, Inc................................................................................................................................. 75
6.13 Taiyo Nippon Sanso Corporation................................................................................................... 78
6.14 Fujifilm Holdings Corporation ....................................................................................................... 80
6.15 Eczacibasi-Monrol ....................................................................................................................... 82
6.16 Isotec, Inc. (Sigma-Aldrich) .......................................................................................................... 84
6.17 Petnet Solutions, Inc. (A Subsidiary Of Siemens Medical Solutions Usa, Inc.) ................................... 86
1. INTRODUCTION
1.2 MARKETS COVERED
Nuclear medicine/ Radiopharmaceutical market is showing highest potential in terms of the market
growth and trends. The radiopharmaceuticals market can be segmented into further smaller
markets based on applications, technology and geographical regions.
The markets covered in the report
Radiopharmaceutical Therapeutic Market
Radiopharmaceutical Diagnostic Market
North America Radiopharmaceutical Market
Europe Radiopharmaceutical Market
Asia-Pacific Radiopharmaceutical Market
Each market is discussed with the following points:
1 Identify disease conditions currently being treated with medical radioisotopes in specific region.
2 Provide an overview of the radiopharmaceuticals in each market and forecast market size for
the year 2012-2020.
3 Identify specific medical isotopes that offer greatest market opportunities in the market.
4 Identify the market drivers, constraints, opportunities and Threats for the market.
5 Identify the major radiopharmaceutical companies currently involved nuclear therapy, nuclear
imaging market and the strategies followed by the major competitors.
1.4 RESEARCH METHODOLOGY
The research methodology can be put into the following sequence:
1) Secondary Research: Information was collected from a number of public and paid data sources.
Public sources involved Government websites, publications from the genetic testing programs of
different countries, company annual reports, white papers and research publications by recognized
industry experts. Paid data sources include authentic industry databases.
2) Primary Research: After collecting data from secondary sources, primary interviews were
conducted with stakeholders at different points of the feed value chain like manufacturers,
distributors, ingredient suppliers, companies producing enzymes and key opinion leaders of the
industry. Primary research is used both to validate the data points obtained from secondary
research and to fill any gaps in data.
3) Market Analysis: The market analysis phase involves analyzing the collected data, market
breakdowns and forecasting. Macroeconomic indicators and bottom-up and top-down approaches
are used to arrive at a complete set of data points that give way to valuable qualitative and
quantitative insights. Each data point is verified by the process of data triangulation to validate the
numbers and arrive at close estimates.
4) Expert Validation: The market analysis data is verified and validated by a number of experts, both
in-house and external.
5) Report Writing: After the data is curated by the aforementioned highly sophisticated process, the
analysts begin to write their report. Garnering insights from data and forecasts, insights are drawn
to visualize the entire business ecosystem in a single report.
3. MARKET OVERVIEW
3.1Market Drivers
3.1.1 Increasing Incidents of Cancer and Cardiac Ailments
Increasing incidents of cancer and cardiac ailments are the major drivers for the market. Nuclear
medicine shows a huge potential in treating cardiac and cancer diseases. According to a survey by
National Cancer Institute, the number of new cases of cancer sites was 460 per 100,000 men and
woman per year. While the number of deaths was 176 per 100,000 men and women per year. Cardiology
applications will continue to demonstrate strong growth in the market.
3.1.3 Growing Public Awareness for healthcare
With increasing incidences of cancer and cardiac diseases people are getting more awareness for the
treatment of these diseases. Nuclear medicine holds a promising growth in the detection and imaging
of these diseases because of noninvasive and very fast method. The route of administration could be
through mouth, through injections or placed into the eye or into the bladder. The market is also
expected to show growth from rising income levels, growing affluence and the strong focus on early
diagnosis for improved treatment results.
3.2 MARKET CONSTRAINTS
3.2.2 High Capital Investment
The nuclear medicine market’s major obstacle for the future growth is high capital investment needed
for the generation of radionuclide. The initial investment for a cyclotron is $2 million, with an additional
$0.5 million needed for renovation and installation. At a minimum, another $0.8 million is needed to
cover annual operating costs, assuming no major repairs are needed. The high capital investment in
turn increases the cost of imaging and treatment which affects the market growth in developing
countries.
3.2 OPPORTUNITIES
3.3.2 Cyclotron based production
Majority of the radioisotopes are produced in nuclear reactor, however cyclotrons also produce
radioisotopes which complement those produced in nuclear reactor. 80% of the isotopes used in
medical procedures come from nuclear reactors. But there is huge market for the production of
radioisotopes using cyclotron. Here are some of the cyclotron based radioisotopes used in medical
imaging.
Radioisotope Application
Copper-64 Used to study genetic disease affecting
copper metabolism
Gallium-67 Used in imaging to detect tumours.
Iodine-123 Used in imaging to monitor thyroid function.
Thallium-201 Used in imaging to detect location of damaged
heart muscle
Carbon-11 Used to study brain physiology using PET.
4. GLOBAL NUCLEAR MEDICINE MARKET SEGMENTATION
4.2 Global Markets: Segmentation by Diagnostics
4.2.1 Introduction
The global market for diagnostics is comprised of different sub segments which are SPECT diagnostic
based market and PET diagnostic based market. The global SPECT market which was valued as an
approximately $3 billion in 2012, has shown a good rise in the market and is expected to become a $4
billion market by 2014 and is expected to reach as high as $5.3 billion by the end of 2017. This growth is
accompanied with a CAGR of about 11.14%. This CAGR and the steady growth in the SPECT market can
be attributed to the wide range of applications it can offer in different areas of medicine. SPECT has its
majority applications in areas like Cardiology and Neurology.
From a geographical point of view North America, specifically USA has the major market share as high
as 40% of the global market share. This can be attributed to the technological advancements and the
growing incidence of cancer rates and chronic disease population globally. Following North America is
Europe which has the highest market share in the global diagnostics market. Recent developments and
studies have shown that emerging markets such as India, China and Korea have shown great potential
in terms of growth of the market. Their respective CAGR’s is expected to increase and show a greater
growth than European market by the end of 2017.
Positron Emission Tomography, normally referred to as a PET is a relatively new concept when
compared with the likes of SPECT has shown great potential in terms of growth and potential value.
Though the market value may not be as high as SPECT, it is showing a greater growth rate. The PET
market which was valued as a $540 million market globally is expected to reach $680 million by 2014
and is expected to reach a market value as high as $950 million by 2017 showing a CAGR of about
12.05%. This potential high growth is due to the wide range of applications it has in the field of
Oncology. This application coupled with the growing rate of cancer population makes it an excellent
market worth investing in due to its high potential.
From a geographical point of view, North America has the major share of the global market, followed by
Europe and APAC. Emerging nations have become a serious threat to the already developed nations in
terms of future potential and market value.
Global Nuclear Medicine Diagnostics Market by Geography for 2012-2017(in billion USD)
2012 2013 2014 2019
North America
4.3 Global Markets: Segmentation by Therapeutics
4.3.4 Brachytherapy
The other segment in this category is Brachytherapy. It is a form of radiotherapy where a radiation
source is placed inside or next to the area requiring treatment. Brachytherapy is commonly used as an
effective treatment for cervical, prostate, breast, and skin cancer and can also be used to treat tumors in
many other body sites. The Brachytherapy market can be segmented on the type of radiation sources
used in the process. The radiation sources used are Cesium 131, Iodine 125, Palladium 103 and Iridium
192. The clinical applications of this market are in the fields of cervical cancer, Prostate cancer, Breast
cancer, Skin cancer and Coronary/Vascular cancers.
Global Nuclear Medicine Therapeutics Market by Segment for 2012-2017 (in million USD)
2012 2013 2014 2019
Brachytherapy
4.5 MARKET SEGMENTATION BY GEOGRAPHY
4.5.2 EUROPE
GERMANY
Germany forms the largest European market for Nuclear medicine, accounting for an estimated share of
20.8 % equating to US$0.300 billion, which is further projected to reach US$0.485 billion by 2017 at a
robust CAGR of 10.08% during 2012-2017.
The definition of nuclear medicine in Germany is laid out in the specialty training regulation
(Weiterbildungsordnung, WBO) of the German Medical Association on Nuclear Medicine, it includes:
Use of unsealed radioactive sources in diagnosis and therapy.
Nuclear magnetic resonance imaging (MRI), but also
Sonographic tests and the treatment of thyroid diseases, except for surgical procedures.
The medical aspects of radiation protection from another area of competency.
In Germany the duration of training in the field of nuclear medicine is 5 years, of which 1 year must be
spent in clinical inpatient patient care, and another 6 months of training in another field is possible.
Region 2012 2013 2014 2019 CAGR
Germany XX 0.330 XX XX XX
UK XX XX XX 0.33 XX
France 0.216 XX XX XX XX
Spain XX XX XX XX XX
Italy XX XX 0.130 XX XX
Rest of Europe XX XX XX XX 10.91%
Total XX XX XX XX XX
6. PROFILES OF KEY COMPANIES
6.1 COVIDIEN
Covidien PLC
20 Lower Hatch Street
Dublin 2, Ireland
Tel: +353 1 438 1700
OVERVIEW
Covidien Public Limited Company is an Irish- headquartered global healthcare products company and
manufacturer of medical devices and supplies. Covidien became an independent publicly traded
company after being spun off from Tyco International in 2007. It is a leading manufacturer of medical
devices and supplies with revenue of over $10.2 billion in the year 2013. With a workforce of around
38,000 in more than 70 countries and products sold in over 150 countries.
PRODUCTS & SERVICES
The products and services of this company include Endomechanical instruments, Soft Tissue repair
products, Energy devices, Oximetry & Monitoring products, Airway & ventilation products, Vascular
products, sharp safety products, Specialty pharmaceuticals, Active pharmaceutical ingredients,
Radiopharmaceuticals, Nursing care products and Medical surgical products.
FINANCIALS
The total revenue generated for the year 2013 has been as high as $10.2 billion. The company showed a
growth of about 4% compared to the revenue generated in the year of 2012. The earnings before income
and taxes is $2.23 billion showing a 5.2% increase compared to the earnings before income and taxes of
the year 2012. The net income for the year of 2013 is $1.7 billion which is 10% less than that of the net
income in the year 2012.
RECENT DEVELOPMENTS
Medtronic, a global leader in medical services and technology and Covidien, a global leader in
medical technology have announced that they have reached a definitive agreement under which
Medtronic has acquired Covidien in a cash and stock transaction.
Covidien plc (NYSE: COV) today announced that it has closed its acquisition of Given Imaging
Ltd., providing the company additional scale and scope to serve a significant medical specialty,
the multi-billion dollar global gastrointestinal (GI) market.
Covidien (NYSE: COV), a leading global provider of healthcare products, announced the
expansion of its portfolio of radiofrequency ablation (RFA) catheters with the launch of the
Barrx™ Channel RFA Endoscopic Catheter for treating Barrett’s esophagus and certain
gastrointestinal bleeding disorders.
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