August 5th 2011
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£995 / $1740 / €1245
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The early vision for molecular imaging (MI) was that it would revolutionise clinical diagnostics and pharmaceutical research, allowing disease to be explored and identified with greater accuracy and long before physical symptoms were experienced. But economic recession and technical challenges have taken their toll on the speed at which that vision has become reality - until now. While for many years MI delivered more promise than profits, the signs are that new products, applications and increasing clinical/health payer acceptance will see the market accelerate in the medium term to achieve global sales of US$6 billion by 2015.
Strong fundamentals are driving growth
Despite cost pressures from reduced capital spending and lower reimbursement for some procedures, the MI market fundamentals remain solid and there are strong opportunities for growth within the MI industry. The increasing incidence of cancer, cardiovascular and neurological diseases means that demand for faster and more accurate diagnosis, as well as drug development and pre-clinical study efforts, will continue to accelerate in the coming years. In addition, imaging technologies will become more widely adopted as clinical evidence is established as to their benefits, and new technological innovations continue to be brought to market, particularly related to the MI of cancer and neurological diseases. In addition, the current lack of penetration for nuclear and molecular imaging in emerging economies such as China, India and Brazil is driving demand in these regions, where new nuclear imaging facilities are being set up and lower-cost systems are in demand.
Corporate manoeuvres
The industry is still developing but already companies in the medical diagnostic imaging equipment business such as Philips, Siemens and GE, and in the radiopharmaceutical and contrast agent market such as GE, Bracco, Covidien, Bayer and Lantheus Medical Imaging are taking leading positions. And opportunities for big Pharma are not being missed, with both Eli Lilly and AstraZeneca actively involved. As the market develops, expect more consolidation in the tussle for dominance.
This report provides unique 5-year market forecasts
Molecular imaging is still a developing sector and the question is often asked what it will be worth commercially. For the first time, this report provides a 5-year evaluation of
the market’s prospects and provides year-by year growth for key sectors:
This report easily answers key business questions such as:
| EXECUTIVE SUMMARY | MOLECULAR IMAGING COMPANIES For each company an evaluation is made of their financial performance/status, products, research areas and significant deals or strategic partnerships | TABLE OF FIGURES | |
BACKGROUND
MI Modalities
CURRENT MARKET DYNAMICS
MARKET OUTLOOK
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Trends and challenges – make sure you are fully briefed on the issues which are shaping the market...
Are the cost benefits of molecular imaging being recognised?
Health payers, in the midst of an economic downturn, are focused on limiting immediate costs and this has impacted expansion and reimbursement of several imaging procedures. But advanced imaging enables detection and diagnosis at earlier stages of disease development, enabling treatment to begin before disease becomes systemic or established and reducing costs for invasive surgery or later-stage drug treatments. Similarly, there is much concern over the cost of new drugs, many of which may be used without the most accurate diagnostic insight into the underlying pathology of the disease. Molecular imaging’s advanced ability to evaluate disease at the molecular level has a critical role to ensure that only appropriate medicines are administered. Evidence is still building, but health payers would be wise to consider future molecular imaging technology as a benefit and not a cost in their financial plans.
Molecular Imaging – only for the big boys?
Although MI technologies hold great promise and market potential, there are significant barriers to market entry for companies, including the significant capital investments required to develop such products and get them through the lengthy and costly regulatory approval process. Adding to the challenge has been the difficult economic environment in recent years, which has limited the ability of start-up companies to raise capital from financial institutions or attract investment. Despite a difficult market for start-ups, the strong growth potential of MI technologies is providing good opportunities for companies with cash or financing available to them to add to their MI operations or enter this market, both through acquisitions or by licensing technologies from companies that cannot afford to commercialise them themselves.
A case in point...
Alzheimer’s disease imaging is currently a major area of opportunity, both in terms of helping to achieve a clinical diagnosis for a condition that can currently only be diagnosed at autopsy and also for pharmaceutical companies developing drugs to treat the condition. Previously privately-held, Avid Radiopharmaceuticals was acquired by the multi-national pharmaceutical company, Eli Lilly and Company, in December 2010. Avid’s lead MI agent, Amyvid, is being developed to diagnose Alzheimer’s disease and is expected to become the first MI agent for Alzheimer’s disease to be FDA-approved later in 2011. There are plenty of examples where smaller companies have ceased trading or changed status – investment capital is crucial to innovation, and how much of that comes from big Pharma will be closely watched.
In research...new imaging modalities
MI is driven by technical innovation. New modalities in research include GMI’s dual modality MRI/SPECT system, Philip’s Magnetic Particle Imaging platform for imaging nanoparticle concentrations in blood and GE’s 13C Hyperpolarised metabolic MR, which produces real-time, quantitative data regarding the presence and aggressiveness of tumours.
About the Author
This report has been researched and written by senior Espicom medical market analyst Joanne Maddox. For over 10 years she has played a pivotal role in tracking trends in medical device and equipment markets and companies. A former editor of Medical Device Companies Analysis she has also written Medical IT: Understanding the major players and products, All Change in the Advanced Woundcare Market and Point of Care Diagnostics: Players, Products and Prospects.