SEATTLE, May 10, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global radiopharmaceuticals in nuclear medicine market was valued at US$ 4,986.4 million in 2017 and is projected to exhibit a CAGR of 8.9% over the forecast period (2018–2026).
Key Trends and Analysis of the Global Radiopharmaceuticals in Nuclear Medicine Market:
Approval of products such as Lutathera, a potential blockbuster drug (Advanced Accelerator Applications, 2018) and Axumin (2016, Blue Earth Diagnostics) has propelled growth of the market. Newer trends such as increasing therapeutic applications of radiopharmaceuticals and radiolabeling of monoclonal antibodies are expected to support growth of the market. Subsequently, as the need for early diagnosis of diseases such as cancer and accurate diagnosis of diseases such as Alzheimer's has become necessary (certain products have come close to this such as Amide and Vizamyl) radiopharmaceuticals are expected to find an even strong foothold in medical care.
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Increasing collaboration and mergers and acquisitions are expected to support global radiopharmaceuticals in nuclear medicine market growth over the forecast period. For instance, in December 2018, Advanced Accelerator Applications S.A. (AAA), entered into an exclusive license agreement with FUJIFILM Toyama Chemical, a radiopharmaceutical company in Japan, to develop and commercialize radiolabeled FF-10158 for oncology indications. Under the terms of the agreement, AAA was granted worldwide rights to FF-10158, with the exception of Japan, in exchange for an upfront payment and future milestones and royalties. In 2017, IRE-ELiT S.A. selected Cardinal Health, Inc. as the exclusive distributor for Galli Eo germanium-68 / gallium-68 (68Ge / 68Ga) generator in the U.S. and its territories including Puerto Rico.
Moreover, in January 2018, Novartis AG successfully completed tender offer through its subsidiary, Novartis Groupe France S.A., to purchase all of the outstanding ordinary shares ("Ordinary Shares"), including Ordinary Shares represented by American Depositary Shares ("ADSs"), of Advanced Accelerator Applications S.A. Moreover, in 2017 Cardinal Health, Inc. acquired North American rights of Lymphoseek, a radiopharmaceutical diagnostic imaging agent, from Navidea Biopharmaceuticals, Inc. Navidea received around US$ 83 million at closing and will have the opportunity to earn up to US$ 227 million of contingent consideration based on certain milestones through 2026, with US$ 17.1 million of that amount guaranteed over the next three years. In 2017, IBA Molecular successfully completed acquisition of Mallinckrodt Nuclear Imaging and formed new radiopharmaceutical company, Curium Pharma.
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Key Market Takeaways:
- A CAGR of 8.9% is expected during the forecast period (2018–2026), this is attributed to increasing adoption of radiopharmaceuticals in diagnostic as well as therapeutics to improve medical outcomes
- Several radiopharmaceuticals are under development, which is expected to aid in global radiopharmaceuticals in nuclear medicine market growth over the forecast period
- North America region is expected to hold dominant position over the forecast period, owing to presence of leading manufacturers such as GE Healthcare, Lantheus Medical Imaging, and others
- Some of the major players operating in the global radiopharmaceuticals in nuclear medicine market include Progenics Pharmaceuticals, Inc., NorthStar Medical Radioisotopes LLC, Curium Pharma, Life Molecular Imaging, Lantheus Holdings, Inc., Cardinal Health, Inc., General Electric Company, Bracco S.p.A., Bayer AG, Advanced Accelerator Applications, S.A., and Eli Lilly and Company.
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