Therapeutic Nuclear Medicines Market

Therapeutic Nuclear Medicines Market: Increasing Prescription of Radium-223 in Prostate Cancer Treatment to Propel Growth: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

Tier 1 players contribute to more than 80% revenue share

The therapeutic nuclear medicines market is a highly consolidated market with top three leading players contributing 87.4% of the market share. The tier 1 players of the global therapeutic nuclear medicines market are Novartis AG, Bayer AG and GE Healthcare. Bayer AG alone accounts for a 78.9% market share of the therapeutic nuclear medicines market due to the high penetration of its brand Xofigo for the treatment of prostate cancer in the U.S. and Europe.

Novartis AG accounts for the second largest share of the global market owing to its acquisition of Advanced Accelerator Applications in 2017. Tier 2 players, such as Curium Pharmaceuticals, Jubilant DraxImage, Spectrum Pharmaceuticals and Progenics Pharmaceuticals, Inc., collectively accounted for 9% of the global therapeutic nuclear medicines market in 2017.

Growing acceptance of radiopharmaceuticals for therapeutic purposes

Radiopharmaceuticals are being used for diagnosis as well as therapeutic purposes. However, radiopharmaceuticals are currently used for diagnostic purpose rather than therapeutic purposes. Currently, only 12-13% revenue of the global radiopharmaceutical market comes from therapeutic nuclear medicines, however, by 2030, therapeutic nuclear medicines are expected to gain around 60-65% revenue of the global radiopharmaceutical market due to the positive results of Xofigo for the treatment of prostate cancer and the launch of Iodine-131 for the treatment of hypothyroidism and thyroid cancer in developed countries.

Moreover, the leading radiopharmaceutical manufacturers are collaborating with hospitals and cancer research institutes for the sale of their products, which has increased the acceptance of therapeutic nuclear medicines.

Launch of more efficient therapeutic nuclear medicines for prostate cancer treatment

In the past few years, more efficient therapeutic nuclear medicines have been launched, which have shown positive results for the treatment of various types of cancer. For instance, the launch of Xofigo (Radium-223) by Bayer for the treatment of prostate cancer and the launch of Lutathera (Lutetium-177) for the treatment of neuroblastoma and synovitis has created growth opportunities for the therapeutic nuclear medicines market over the forecast period.

In addition, the launch of these products has boosted the demand for therapeutic nuclear medicines among patients and physicians as well as opened the door for the other pharmaceutical manufacturers to launch more efficient therapeutic nuclear medicines.

Growing prevalence of prostate cancer

The prevalence of prostate cancer is rising throughout the globe, especially in developed countries such as the U.S. and UK, which is fuelling the growth of the therapeutic nuclear medicines market. According to the U.K. cancer research organization, prostate cancer is the most common type of cancer in the U.K. Around 47,151 men were diagnosed with the prostate cancer in 2015.

Similarly, according to American Cancer Society, prostate cancer is the most common cause of death in the U.S. Around 1 in 9 men are expected to be diagnosed with prostate cancer during their lifetime. Therefore, increase in the incidence of prostate cancer is expected to drive the therapeutic nuclear medicines market over the forecast period

Stringent regulatory guidelines by FDA

The production, storage and usage of radioisotopes requires proper precautions because radioisotopes generate radiation that can affect the mass population as well as the environment. Approvals from the Food and Drug Administration and Medicines and Healthcare Products Regulatory Agency is mandatory for any usage, storage, or production of radioisotopes.

According to the Nuclear Regulatory Commission, approximately 6,000 licenses are maintained for the usage of radioactive materials, the violation of which leads to enforcement actions that include loss of license. This stringent regulatory guideline by FDA for the approval and production of radiopharmaceuticals is likely to hamper the revenue growth of the therapeutic nuclear medicines market.

Competitive Landscape

The competition section of the therapeutic nuclear medicines market report features the profiles of the key players of the therapeutic nuclear medicines market based on their product offerings, market shares, marketing approach and differential strategies.

Some of the key players profiled in the therapeutic nuclear medicines market report include Bayer AG, Novartis AG, GE Healthcare, Curium Pharmaceuticals, Jubilant DraxImage, Spectrum Pharmaceuticals, Progenics Pharmaceuticals, Inc., ANSTO, Lantheus Medical Imaging, Inc., Eckert & Ziegler and International Isotopes Inc.

Definition

Therapeutic nuclear medicines is a pharmaceutical formulation that consists of radioactive substances (radioisotopes). Therapeutic nuclear medicines are intend for the treatment of cancer, metastatic bone tumor and other diseases. The radioactive material of therapeutic nuclear medicines is capable of killing the cancerous tissue, reducing the size of a tumour and reducing pain.

About the Report

FMI conducted a research study on the therapeutic nuclear medicines market for the forecast period 2018 to 2028. The therapeutic nuclear medicines market report offers a comprehensive evaluation of the business opportunities prevailing in the therapeutic nuclear medicines market, along with insights on the pipeline assessment, key regulations and reimbursement scenario.

The report on the therapeutic nuclear medicines market also elaborates on the macro-economic factors influencing the dynamics of the therapeutic nuclear medicines market and its futuristic potential.

Additional Questions Answered

Some of the additional questions addressed in this report on the therapeutic nuclear medicines market are:

  • What is the revenue potential of Radium-223 across the regions of North America and Europe?
  • Who are the key competitors of the therapeutic nuclear medicines market and what are their product portfolios and growth strategies?
  • What are the major factors influencing the growth of the therapeutic nuclear medicines market?
  • Which trends are being followed by the leading manufacturers to retain their market share?
  • What is the prevalence and treatment-seeking rate for therapeutic nuclear medicines in the top countries?

Research Methodology

Top down analysis is used to estimate the market value of the global therapeutic nuclear medicines market. An exhaustive list of manufactures and their brands is prepared based on secondary research. The revenue generated by each brand of therapeutic nuclear medicines is tap down. The addition of revenue from all the brands of therapeutic nuclear medicines reflects the market value.

The percent share of therapeutic nuclear medicines in the global radiopharmaceutical market is also analysed to calculate the market value. This information is further validated with rigorous primary research (including interviews, surveys, in-person interactions and the viewpoints of seasoned analysts) and secondary research (including verified paid sources, authentic trade journals and resourceful databases).

The research study on the therapeutic nuclear medicines market also includes the top trends and macro- as well as micro-economic factors shaping the therapeutic nuclear medicines market. With this approach, the report on the therapeutic nuclear medicines market estimates the industry attractiveness of every major segment in the therapeutic nuclear medicines market over the forecast period.

Key Segment

Based on the treatment type

  • Radium-223
  • Iodine-131
  • Leutitium-177
  • Yttrium-90
  • Samarium-153
  • Strontium-89
  • Rhenium-188+ Rhenium-186
  • Erbium-169
  • Phosphorus-32
  • others

Based on the indication

  • prostate cancer
  • painful bone metastases
  • thyroid cancer
  • neuroblastoma
  • synovitis
  • non-Hodgkins lymphoma
  • hepatic metastases
  • brain tumour
  • others

Based on the distribution channel

  • hospitals
  • ambulatory surgical centres
  • cancer research institutes

Based on the region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia-Pacific Excluding Japan (APECJ)
  • China
  • Japan
  • Middle East & Africa (MEA)

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Therapeutic Nuclear Medicines Market