Interesting Article for POSC followers.. The U.S. Market for SPECT and PET Radiopharmaceuticals
The Radiopharmaceutical Report Includes:
* Analysis of Current and Future Radiopharmaceutical Markets
* Emerging Markets For New Molecular Imaging Platforms
* Good Growth Prospects for New SPECT and PET Radiopharmaceuticals
* Long-Term Effects of the Technetium Shortage on the SPECT Market
* Good Prospects for New PET Cardiology Products and Rubidium PET
* Big Markets for New PET and SPECT Agents for Alzheimer's and Parkinson's
* Promising New PET Oncology Products with Broad Applications
* Technological Trends and Competitive Challenges
* Market Assessment and Sales Forecasts to 2017
The report has a strong focus on new products and technology and emerging market opportunities. This covers nuclear cardiology with both PET and SPECT, targeted oncology and new molecular imaging platforms for PET. It also analyzes the large emerging markets for imaging Alzheimer's and Parkinson's disease with PET and SPECT. This will broaden the base of nuclear medicine and allow nuclear imaging to compete more effectively in the larger imaging marketplace.
There has been some decline in the number of SPECT myocardial perfusion procedures as well as reduced pricing for Cardiolite and Myoview because of generic sestamibi. The technetium shortage has also added pressure that will continue for the near term. This will encourage more physicians to adopt PET for many cardiology applications as soon as the new perfusion agents are approved. Cardiology PET produces better images and offers higher reimbursement than traditional cardiology SPECT. This is also stimulating the market for rubidium PET. Growth is still expected in cardiology SPECT from specialized products for imaging myocardial infarction and neuronal imbalances in patients that need pacemakers or may be subject to congestive heart failure. These products are in late stage development and will be introduced in the near term.
New molecular imaging and therapeutic modalities are also being developed based on apoptosis, angiogenesis and PLE (Phospho-Lipid Ether) tumor targeting. This includes new oncology products for diagnosing and monitoring cellular response to therapy. These molecular imaging platforms will also have therapeutic applications, increasing their versatility and usefulness. This will aid in developing patient specific dosimetry necessary for optimizing dosage and evaluating patient response to therapy. In the long run, this will encourage more investment from biopharmaceutical companies and venture groups that will enhance future market growth.
SPECT and PET Radiopharmaceuticals: Market Analysis and Future Prospects
U.S. sales of SPECT and PET radiopharmaceuticals reached $1.16 billion in 2009 and are expected to rise to $4.76 billion by 2017. Total SPECT radiopharmaceutical sales were down 11.6% in 2009 primarily due to reductions in pricing of perfusion agents with the introduction of generic sestamibi. SPECT procedure volume was also down due to the technetium shortage. These pressures will continue in 2010, but eventually stabilize. In comparison, PET procedures were flat compared with the previous year, but revenue was down slightly because of price weakness in the FDG market. However, future sales growth will be more in line with procedure growth.
Although PET reimbursement has been under pressure for the past 2 years, there has been some relief recently. New indications have been approved and reimbursement has improved for certain procedures, particularly in cardiology. Investment in new PET agents is increasing in all segments, which bodes well for this market once the new products are introduced.
Continuing improvements in imaging technology in both SPECT and PET are allowing higher resolution and shorter imaging times. Radiopharmaceutical doses are also going down due to increased imaging efficiency. This makes nuclear medicine safer than many other imaging modalities, which are threatened with excessive radiation and patient safety issues.
As new products are introduced, SPECT sales should more than double during the forecast period from $817 million in 2009 to $1,737 million by 2017. PET sales will increase more rapidly from $348 million in 2009 to $3,028 million by 2017, an increase of more than 700%. This will come primarily from new products as well as increases in the volume of FDG procedures. Market growth will also result from higher prices of the new products. This influx will help all segments of nuclear medicine expanding the platform for molecular imaging. One effect is that clinicians will have more options as alternatives to higher risk and more costly invasive procedures. This will stimulate more research and investment, adding strength and stability to newer venture companies as well as those more established in the field.
