Nuclear medicine market projected to rise to $24B by 2030
The worldwide nuclear medicine industry is expected to grow an annual percentage rate of 11 percent, mostly due to a steady 30 percent climb in therapeutic radiopharmaneticals every year between 2013 and 2030, according to a March 2014 market report by European research firm MEDraysintell.
The research was conducted under the direction of Richard Zimmerman, PhD, in Lalaye, France, and Paul-Emmanuel Goethals from Louvain-la-Neuve, Belgium, who note that growth for diagnostic radiopharmaceuticals is not nearly as high as therapeutics and is expected to grow five percent annually during that period.
About 60 percent of the global market for radiopharmaceuticals is technetium-based, while FDG accounts for about 20 percent as of 2013. Therapeutics held only 4 percent of the total radiopharmaceutical market, but that is expected to change quite a bit by 2030.
A total of 61 companies are working on research and development for one or more radiopharmaceuticals. Of these, 26 have not yet begun marketing a product. A total of 63 companies are thought to be active in the global nuclear medicine market. About 53 of these companies hold 14 percent of the total market. The global market includes 93 marketed radiopharmaceuticals and another 115 under clinical development.