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Market Research in the Healthcare Field with Expertise in Medical Imaging and Radioisotopes
Bio-Tech Systems, Inc. - 4167 West Pinecrest Circle - Las Vegas, Nevada 89121 phone: (702) 456-7608 - fax: (702) 456-2189
PET and SPECT Markets Should Reach $6 Billion by 2018Jul 16, 2011
Improvements in Imaging Technology
Continuing improvements in imaging technology for both SPECT and PET are allowing higher resolution and shorter imaging times. Radiopharmaceutical doses are also being pared down as a result of increased imaging efficiency. This makes nuclear medicine safer than many other imaging modalities that are threatened with excessive radiation and patient safety issues.As new products are introduced, SPECT sales should increase from $758 million in 2010 to $1.68 billion by 2018, while PET sales should increase from $391.8 million to $4.31 billion by 2018. PET sales will increase more rapidly than SPECT due to more 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 of new products will help all segments of molecular imaging and create a good platform for continued growth for both SPECT and PET. 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. The projected growth would reverse a 9% downturn in U.S. SPECT radiopharmaceutical sales from 2009 to 2010, due to lower pricing of perfusion agents and increased use of generic sestamibi. Tc-99m shortage
SPECT procedure volume declined due to the technetium-99m shortage. The situation stabilized in the third quarter of 2010 when two nuclear reactors, including Atomic Energy of Canada's nuclear facility in Chalk River, Ontario, went back online.While there has been a decline in the number of SPECT myocardial perfusion procedures recently, the decrease has stabilized with most Tc-99m users weathering the shortage with no long-term adverse effect. Supplies of technetium are now plentiful, although prices have increased because the supply contracts are now negotiated on a short-term basis. The market has easily absorbed these increases because of the savings from the use of generic sestamibi and decline in price of myocardial perfusion agents. By comparison, PET procedures increased 8.9% to 2.1 million from 2009 to 2010, with revenue increasing to $391.4 million. PET procedures have benefited from the approval of new clinical indications and favorable reimbursement for cardiology procedures. Investment has been increasing in new PET agents, and many of these products have entered late-stage development with market entry expected in the near future. Higher Value Products Emerging
From a technology viewpoint, continuing improvements in imaging technology for both SPECT and PET have produced greater resolution and shorter imaging times. Radiopharmaceutical doses are also being reduced as a result of increased imaging efficiency. This advance makes nuclear medicine safer than many other imaging modalities that are threatened with excessive radiation and patient safety issues.PET perfusion agents for cardiology will offer capabilities for diagnosing complex cases and encourage more physicians to adopt PET for cardiology applications. Cardiology PET produces better images and offers higher reimbursement than traditional cardiology SPECT. Cardiology SPECT is also expected to experience growth from new products for imaging myocardial infarction and neuronal imbalances in patients at risk of congestive heart failure. New PET Biomarkers for Alzheimer's disease and Oncology Applications
One of the most promising areas for growth of PET is in imaging amyloid plaques, associated with Alzheimer's disease. One of these products, fluorbetapir, has completed Phase III clinical trials and has been unanimously recommended for approval by an FDA Advisory panel. The product, developed by Avid Radiopharmaceuticals has been tested in over 700 patients with confidence in the product improving. In addition, Eli Lilly has recently acquired Avid for $800 million providing adequate capital for further development and product introduction. Other firms are also in late stage development of similar agents, particularly G.E.'s flutemetamol, which has demonstrated good potential.Also fueling market growth will be new molecular imaging modalities currently in development for apoptosis, angiogenesis, and cellular proliferation. Other agents are in the pipeline for imaging tumors not easily seen with either PET or SPECT. New oncology products are also being developed for diagnosing and monitoring cellular response to therapy. These molecular imaging platforms will also have therapeutic applications, increasing their versatility and usefulness. In the long run, this will encourage more investment from biopharmaceutical companies and venture groups that will enhance future market growth. by Marvin Burns
Jul 16, 2011 BIO-TECH SYSTEMS, INC., founded in 1980, provides clients with market research services in the healthcare field. This focuses on strategic planning, market research and development of new business opportunities. Bio Tech specializes in product and market evaluation where technical insight is important as well as the ability to communicate with many levels of management and end-users. One objective is to assess technological risk and target new products and services effectively in order to generate the best market response. Bio-Tech's expertise is in medical imaging and radioisotope products covering a broad range of diagnostic and therapeutic applications. For further details and information, please visit us at: Related Reading:
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U.S. sales of SPECT and PET radiopharmaceuticals reached $1.2 billion in 2010 and are expected to rise to $6.0 billion by 2018. SPECT radiopharmaceutical sales were down in 2010 due to the use of generic sestamibi and shortages of moly 99. However, this situation stabilized toward the end of 2010 with the two primary nuclear reactors back on line and plentiful supplies of technetium-99.
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