The overall U.S. market for diagnostic radiopharmaceuticals reached $1.53 billion in 2004 and is expected to rise to $3.2 billion by 2010, according to a recent study by market research firm Bio-Tech Systems.
Radiopharmaceutical sales grew 14.3% in 2004 and should continue growth in the range of 13% to 16% through 2008. Market growth will be based on the introduction of new products, strong demand for cardiology procedures, and increased sales of oncology products, particularly FDG for PET imaging, the Las Vegas, NV-based company said.
Sales of nuclear cardiology products will continue to drive the radiopharmaceutical market, with high utilization of nuclear perfusion studies coupled with advanced pharmacologic stress agents. Nuclear cardiology sales of $1.06 billion in 2004 will increase to $1.89 billion by 2010, Bio-Tech forecast.
The firm also predicted that FDG sales for oncology, as well as cardiology and neurology, will increase from $249 million in 2004 to $522 million by 2010 as distribution continues to improve, allowing more widespread use of PET in community hospitals.
Bio-Tech said that more biopharmaceutical products for SPECT imaging will incorporate monoclonal antibody and peptide-based targeted agents, expanding the range of nuclear procedures. In addition, the firm noted that the availability of SPECT/CT will add another dimension to these new agents, aiding in image interpretation.
The publication, "Report 210: The U.S. Market for Diagnostic Radiopharmaceuticals," focuses on new products and technologies and emerging market opportunities and is available on the company's Web site, at www.biotechsystems.com.
By AuntMinnie.com staff writers
June 29, 2005
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