Competitive Landscape of Global Radiopharmaceuticals Market 2019: North America Analysis and Opportunity Assessment, 2016-2026
Press Release – 24
Jan 2019
Research
and Development News
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Latest
Update
"Radiopharmaceuticals Market: Will Japan (Expected to Register
an Attractive Growth Rate Throughout the Forecast Period) Beat
Current Market Leader North America? - Global Industry Analysis and
Opportunity Assessment, 2016-2026"
with Industries Survey | Global Current Growth and Future.
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“North America is anticipated to be the
most attractive regional market in the global radiopharmaceuticals
market”
North America accounted for more than 40% market
share in the global radiopharmaceuticals market in 2016 and is
expected to witness an increase of more than 100 BPS in its market
share over the forecast period. In terms of Y-o-Y growth, North
America dominated the global radiopharmaceuticals market and was
valued at more than US$ 2,000 Mn in 2015. The market is expected to
expand at 6.2% CAGR over the projected period to reach more than US$
4,000 Mn by the end of 2026. The North America radiopharmaceuticals
market is estimated to represent absolute $ opportunity of more than
US$ 100 Mn in 2017 over 2016. The growth is stagnant and slow due to
major reactors having been shut down in Canada and new reactors
installed in place of old ones for better production of radioisotope.
North America is expected to be the most lucrative market in the
global radiopharmaceuticals market, recording an attractiveness index
of 3.6.
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“Significant
growth in the number of cancer and cardiovascular diseases patients
in North America is expected to boost the global radiopharmaceuticals
market”
Widespread availability of SPECT and PET scanning
machines will result in a growing number of radio diagnostic and
radio therapeutics events in North America. For instance, the number
of PET scanning machines installed per head of population in North
America are more compared to that installed in Europe, thus leading
to increased usage of radiotracers in the region. This growth in
North America is expected to continue along with continuous
technological improvements in PET scanning devices. The high level of
awareness and accessibility to these machines is expected to account
for high revenue generation in North America. This factor is boosting
the overall growth of the global radiopharmaceuticals market.
The other factor impacting the global
radiopharmaceuticals market is the rising prevalence of cancer in
North America. This has significantly increased the number of nuclear
medicine procedures performed in the region and this is the precise
reason that the market for radiopharmaceuticals is steadily growing
in North America. There has been a rising number of cardiovascular
diseases among the people in North America due to aging population,
unhealthy food habits and rising obesity. The increasing number of
cardiovascular patients is expected to boost the sales of
radiopharmaceuticals, which would eventually create growth in the
global radiopharmaceuticals market.
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“Gallium-68
and Lutetium 177 sub-segments of the radioisotope segment are likely
to dominate the North America radiopharmaceuticals market”
Gallium-68 and Lutetium 177 are dominant
sub-segments of the radioisotope segment in North America. Gallium-68
has gained immense popularity since the last one year in the field of
nuclear medicine, especially in the diagnosis and evaluation of
prostate cancer. This is in heavy reliance with incorporation of
several technological leaps and entry of new radiotracer-
68Ga-PSMA-11, developed by the University of Heidelberg.
Additionally, marketing authorisation of the first 68Ge/68Ga
generator, manufactured by the German company Eckert & Ziegler,
has also positively impacted the penetration of 68Ga-PSMA-11 tracer
in the treatment of prostate cancer in North America.
Despite a shorter half-life, Gallium-68 has an
ideal profile as a PET imaging agent. Several manufacturers in North
America are focussing on introducing cold kits for the 68Ga-labeling
of tracers (ANMI, Belgium), thus opening the gateways for 68Ga in PET
scanning. Iodine-131, a therapeutic radiotracer continues to be the
ideal tracer for the treatment of not only thyroid cancer but also
other therapeutic indications. However it is being slowly replaced by
Lutetium-177 (Lu-177) in North America. Lu-177, low-energy -particle
emitter is identified to be one of the emerging radiotracers for the
treatment of metastatic castrate-resistant prostate cancer (mCRPC)
and neuroendocrine tumors.
“Market share of companies operating in
the global radiopharmaceuticals market”
The global radiopharmaceuticals market is highly
consolidated with a few companies that offer advanced technology
systems and nuclear medicines for treating diseases. However, the
global market is dominated by top five players accounting for over
89% share. Siemens Healthineers accounted for the largest share of
around 41.2% of the global market in 2015. The company dominated the
market owing to its diversified product portfolio, extensive
geographical presence, and acquisition strategies. GE Healthcare
accounted for the second largest share of around 30.1% and
Mallinckrodt plc. accounted for the third largest share of around 9%
in the global radiopharmaceuticals market.
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