Published: September 2020
The recent surge in the demand of radiopharmaceuticals for diagnostic and therapeutic applications, coupled with the introduction of theranostics, has opened up opportunities for companies having capabilities to manufacture nuclear medicine and radiopharmaceuticals
Roots Analysis has announced the addition of “Nuclear Medicine and Radiopharmaceuticals Manufacturing Market, 2020-2030” report to its list of offerings.
The production of radiopharmaceuticals as compared to traditional pharmaceuticals is a multifaceted procedure and requires specialized facilities, equipment and operational expertise. Further, owing to its inherent hazardous nature, radiopharmaceuticals have a complex regulatory market authorization process. Consequently, a number of innovator companies have demonstrated a preference for outsourcing radiopharmaceutical manufacturing to contract service providers.
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Around 60 companies claim to have expertise in manufacturing of nuclear medicine and radiopharmaceuticals
The market is characterized by the presence of several established, mid-sized and small-sized players in different geographies across the world; a significant number of these players offer radiopharmaceuticals for diagnostic applications.
Over 65 academic / research institutes are actively catering to the growing demand of radiopharmaceuticals
Apart from the industry players, the contributions of non-industry players are significant in this domain. Some of the most recently established radiopharmaceutical manufacturers include (in reverse chronological order) Thunder Bay Cyclotron and Radiochemistry Laboratories, Lakehead University (2016), Cyclotron and Radiochemistry Facility, UT Southwestern Medical Center (2015) and Techna Institute (2014).
Around 100 partnerships were inked during the last three years
In most of the deals (~35%), the participating organizations have collaborated specifically for the manufacturing and / or supply of radiopharmaceuticals. This is followed by mergers / acquisitions (~ 15%), wherein one company acquired all the assets of another company or merged with another company in this domain.
Over 80% of the diagnostic procedures are estimated to be using Tc-99m (the decay product of Mo-99)
Nuclear research reactors perform the primary irradiation of U-235 for the production of Mo-99. Currently, there are ten nuclear reactors across the globe that offer irradiation services. Nuclear reactors in the European region alone contribute to 60% of the global production capacity. This is followed by Australia that accounts for 16% of global available production capacity of Mo-99.
85% of the market share is captured by radiopharmaceuticals intended for diagnostic applications
Sales of radiopharmaceuticals developed for the diagnosis / treatment of cardiovascular disorders is currently the highest contributor to the overall market (xx%). In the long term, contributions from radiopharmaceuticals intended for other therapeutic areas, such as oncological disorders, neurological disorders and thyroid are anticipated to increase.
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The USD 6+ billion (by 2030) financial opportunity associated with nuclear medicine and radiopharmaceuticals manufacturing, has been analyzed across the following segments:
The report also features inputs from eminent industry stakeholders, according to whom, a significant increase in demand for radiopharmaceuticals is likely to be observed in the foreseen future. The report includes detailed transcripts of discussions held with the following experts:
The research covers tabulated profiles of key players (listed below); each profile features a brief overview of the company, list of products and manufacturing facilities, recent developments and an informed future outlook.
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