Nuclear Medicine Market Exhibits Slow Growth

The slow growth of the global nuclear medicine market is driven by lower revenues from technetium-99m-related products and unfavorable USD exchange rates against major currencies. These are the latest findings of Medraysintell (Louvain-la-Neuve, Belgium), a provider of strategic intelligence for radiation healthcare.

According to the Medraysintell 2016 Nuclear Medicine World Market Report & Directory, the global market for nuclear medicine radiopharmaceuticals reached USD 4.3 billion in 2015, growing by just over 2% a year between 2013 and 2015. The slow growth is compensated by the rise in radiotherapeutics, which have grown by about 60% a year from 2013 to 2015, mostly driven by one product, Xofigo (Radium-223), an isotope of radium with an 11.4-day half-life manufactured by Bayer (Leverkusen, Germany).

While the global nuclear medicine market is currently stale, Medraysintell expects it to climb to USD 25 billion by 2030, based on several factors that indicate an increasing demand for nuclear medicine procedures. These include a wider use of nuclear medicine around the world in applications that diverge from traditional ncology and cardiology, and the introduction of new radiopharmaceuticals. The molybdenum-99 shortage issue, which is expected to be solved within the next two years with domestic U.S. reactors coming online, will also influence additional growth.

MEDraysintell also estimates that the nuclear medicine market would have reached over USD 4.7 billion in 2015, if it were not for influence of the negative exchange rate. When discounting this effect, the market would have exhibited an annual growth of more than 7% for the period 2013-2015. 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.

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