June 8, 2016 — MEDraysintell estimates that the global market for nuclear medicine (radiopharmaceuticals) reached $4.3 billion in 2015, growing just over 2 percent a year between 2013 and 2015. This slow growth is primarily driven by lower revenues from technetium-99m-related products and an unfavorable impact from U.S. dollar exchange rates versus major currencies.
This slow progression is compensated by a robust increase of radiotherapeutics, which have grown by about 60 percent a year from 2013 to 2015, mostly driven by one product, Xofigo from Bayer. Without this exchange rate influence, MEDraysintell estimates that the nuclear medicine market would have reached over $4.7 billion in 2015, thereby exhibiting an annual growth of more than 7 percent for the period 2013-2015.
While it has been stable the last year, the global nuclear medicine market is expected to climb to $25 billion by 2030. Several factors indicate an increasing demand for nuclear medicine procedures, including a wider use of nuclear medicine around the world (other applications besides oncology and cardiology) and the introduction of new radiopharmaceuticals. The molybdenum-99 shortage issue, which will be solved within the next two years with domestic U.S. reactors coming online, will also influence additional growth. Yet, the most important factor that will shape the future growth of the nuclear medicine market is the launch of new-generation therapeutic radiopharmaceuticals.
All these topics are covered in the new Nuclear Medicine World Market Report & Directory, Edition 2016 to be published shortly after the Society of Nuclear Medicine and Molecular Imaging (SNMMI) 2016 annual meeting, June 11-15 in San Diego. The 990–page report and directory describes and analyzes over 360 radiopharmaceuticals and radionuclides and more than 160 companies and institutions active in nuclear medicine.
For more information: www.medraysintell.org