Nuclear Medicine and Radiopharmaceuticals Manufacturing Market, 2020-2030

Overview

Since the discovery of the means to artificially synthesize radioisotopes (early 1930s), they were almost immediately adopted for healthcare applications, by the mid-1940s. Presently, a variety of diagnostic and therapeutic techniques are based on the use of such substances, commonly referred to as radiopharmaceuticals. Despite their inherent toxicity, nuclear medicine is considered an important part of modern healthcare, with applications spanning across a number of therapeutic areas, including infectious diseases, immunological disorders, gastroenteric disease, cardiological disorders, oncological disorders, neurological disorders, and even certain psychiatric conditions. According to an article published by World Nuclear Association in May 2020, more than 10,000 hospitals worldwide claim to be using radioisotopes for various medical procedures; interestingly, of the aforementioned applications, 90% were reported to be related to disease diagnosis Typically, diagnostic tests, involving radiopharmaceuticals, are performed using highly specialized imaging solutions, such as single photon emission computed tomography (SPECT) and positron emission tomography (PET). It is worth highlighting that around 40 million diagnostic procedures, involving the use of the radioisotope Tc-99m alone, are conducted worldwide annually. Further, the introduction of the concept of theranostics, which involves the use of a single active ingredient for both diagnostic and therapeutic purposes, has opened up a new dimension of applications for nuclear medicine.

Over the years, medical research teams across the world have gradually tapped into the vast potential of radiopharmaceuticals and nuclear medicines. In fact, the technology that is now used in this field is reported to have witnessed significant evolution, in terms of technological sophistication. As a result, the demand for such specialized chemicals has grown at an exponential rate. However, the development and production of radiopharmaceuticals is inherently complex, and requires specialized facilities and operational expertise. Therefore, acquiring the necessary technical acumen and infrastructure to support such operations is not a feasible option for pharmaceutical companies, owing to a number of associated clauses and concerns (such as need for high capital investments, unique operating licenses and compliance to special regulatory requirements). Currently, stakeholders in the pharmaceutical industry primarily rely on suppliers and contract manufacturers to fulfill their radiopharmaceutical procurement needs. Moreover, there are a number of specialty service providers that claim to be engaged in this field, offering a variety of radioisotopes and affiliated services for healthcare applications. As more applications are discovered, the demand for nuclear material suppliers and service providers is likely to increase. This, coupled to the anticipated advances in the field of radiopharmaceuticals, affiliated technologies and products, is expected to offer lucrative opportunities to the contract service providers that are engaged in this domain.

Scope Of the Report

The ‘Nuclear Medicine and Radiopharmaceuticals Manufacturing Market, 2020-2030’ report provides a detailed study on the current market landscape and future potential of the companies having the capabilities to manufacture radiopharmaceuticals. In addition, the study features an in-depth analysis, highlighting the capabilities of a diverse set of industry stakeholders. Amongst other elements, the report features the following:

• A detailed assessment of the current market landscape with respect to the players (industry and non-industry) involved in manufacturing radiopharmaceuticals. It features information on the year of establishment, company size, purpose of production (fulfilling in-house requirements / for contract services), location of headquarters, location of manufacturing facilities, scale of production, applications of radiopharmaceuticals (in diagnosis, therapeutics and theranostics), type of diagnostic radiopharmaceuticals (PET and SPECT), type of therapeutic radiopharmaceuticals (alpha emitters, beta emitters and others), target therapeutic area (cardiology, oncology, neurology, thyroid and others) and services offered.
• An insightful four-dimensional comparison of the radiopharmaceutical manufacturers, based on supplier power (year of establishment), product portfolio (number of isotopes being manufactured for various applications targeting different therapeutic areas) of the manufacturer, scale at which they manufacture their respective products and company size.
• Tabulated profiles of key industry players based in North America, Europe and Asia-Pacific (shortlisted based on the company size of the players), featuring a brief overview of the company, a list of products and manufacturing facilities, recent developments and an informed future outlook.
• An analysis of recent partnerships and collaborations inked in this domain since 2017, based on several parameters, such as the type of partnership, year of partnership, type of radioisotope involved, therapeutic area mentioned in the agreement,  application of the radioisotope mentioned in the agreement, and a schematic representation showcasing the players that have forged the maximum number of alliances. Furthermore, we have provided a world map representation of the deals inked in this field, highlighting those that have been established within and across different continents.
• A detailed discussion on the supply chain model of medical isotope Mo-99 (Tc-99m), highlighting the main steps of the supply chain, from irradiation of uranium targets in nuclear research reactors to the administration of Tc-99m to patients. Along with this, it describes the structure of the industry and product market at each step.

One of the key objectives of this report was to evaluate the current market size and the future opportunity associated with the radiopharmaceutical manufacturing market, over the coming decade. Based on various parameters, we have provided an informed estimate of the likely evolution of the market in the short to mid-term and long term, for the period 2020-2030. The report also provides details on the likely distribution of the current and forecasted opportunity across [A] target therapeutic area (cardiology, neurology, oncology, thyroid and others), [B] application area (diagnostic and therapeutic) and [C] type of diagnostic radiopharmaceuticals (PET and SPECT), [D] type of therapeutic radiopharmaceuticals (alpha emitters, beta emitters and others), [E] purpose of production (in-house/outsourcing) and [F] key geographical regions (North America, Europe, Asia-Pacific and rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

The opinions and insights presented in this study were influenced by discussions conducted with multiple stakeholders in this domain. The report features detailed transcripts of interviews held with the following individuals (arranged in the order of participant’s designation):

• James Davis (Vice President Quality / R&D, Shertech Laboratories)
• Andreas Fotopoulos (Professor of Nuclear Medicine, University of Ioannina Medical School)
• Jan Pruim (Professor of Medical Imaging / Nuclear Medicine Physician, University Medical Center of Groningen)
• Michael van Dam (Professor, Crump Institute for Molecular Imaging, Molecular & Medical Pharmacology)
• Anonymous (ITM Isotopen Technologien München)

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

Key Questions Answered

• Who are the leading industry and non-industry players engaged in the nuclear medicine and radiopharmaceutical manufacturing market?
• For which application and disease indications are the radiopharmaceuticals being manufactured?
• What are the various type of radionuclides being manufactured for the formulation of radiopharmaceuticals?
• What is the relative competitiveness of manufacturers involved in the nuclear medicine and radiopharmaceutical manufacturing?
• Which partnership models are commonly adopted by the radiopharmaceutical manufacturers in this industry?
• What is the supply chain process for medical isotope Mo-99 / Tc-99m?
• What are the key factors that are likely to influence the evolution of the nuclear medicine and radiopharmaceutical manufacturing market?         
• How is the current and future market opportunity likely to be distributed across key market segments?