Automated Radiosynthesis Module Market Overview
Global Automated Radiosynthesis Module Market was valued at $20 million in 2015, and is expected to reach $32 million by 2022, supported by a CAGR of 6.6%. Radiosynthesis modules are available as automated equipment for decentralized settings for the formulation and production of radiotracers. Majority of the radiotracers are manufactured in the centralized laboratories and radiopharmaceutical units. This scenario has few imitations such as it reduces the scope for customization of production of radiotracer and increases the time gap for the radiotracer to reach the end users. As radiotracers have limited half-life, its performance decreases when employed for diagnosis or therapy administration. Automated radiosynthesis modules are simple to set up and easy to use and offers the scope for customization of the radiotracers. This in turn drives the performance of the diagnostic and therapy monitoring activities for the end users.
Rise in incidence of chronic diseases and increase in adoption of PET/SPECT imaging fuel the automation of radiotracer production process. Further, the supply of these products is anticipated to become streamlined and effective, owing to the improved cGMP guideline from the FDA. Manufacturers are expected to gain additional income by diversifying their product offering to cater to the needs of new markets. Premium pricing is projected to remain a source of concern and limit the rate of adoption of these module; however, the availability of funds and grants from the government is expected to offset this constraint.
NUMBER OF INSTALLATION OF PET SCANNER WORLDWIDE IN 2014
GLOBAL ESTIMATED AVAILABILITY OF RADIOTHERAPY, 2013
The above figure indicates that the option for radiotherapy for cancer treatment is available worldwide depicting high radiopharmaceuticals adoption. Thus, along with the growth in radiopharmaceuticals market, the automated radiosynthesis module is anticipated to witness a parallel growth, since it is the technique used to produce radiopharmaceuticals. Hence, the increased incidence of cancer cases worldwide is expected to propel the growth of the automated radiosynthesis module market.
TOP FACTORS IMPACTING GLOBAL AUTOMATED RADIOSYNTHESIS MODULE MARKET
Source: AMR Analysis
INCREASE IN ADOPTION OF PET & SPECT AS VITAL DIAGNOSTIC TOOLS
The global burden for chronic diseases is increasing worldwide at an alarming rate. To control this situation, the global healthcare industry focuses on early diagnosis of disease to provide prompt treatment. This will facilitate reducing the global burden of chronic diseases such as cardiovascular diseases, chronic obstructive pulmonary disorder, cancer, and others. Diagnostics tools such as PET and SPECT are adopted globally to reduce the rapidly increasing chronic diseases, which provide high-resolution quality imaging, simplifying the complex diagnosis process. This equipment uses PET radiopharmaceuticals with short lifetime radioactive isotopes that are manufactured using fully automated radiosynthesis process. The radiopharmaceuticals are incorporated in the PET/CT/SPECT scanners to improve the utility of tomographic imaging diagnostics methods that are available commercially.
HIGH COST IS A BARRIER FOR ADOPTION OF AUTOMATED RADIOSYNTHESIS MODULE
The manual radiosynthesis module causes exposure to radiation, which can pose as a possible harm to the radiopharmacist. Thus, the new era nuclear medicines and manufacturers of radiolabeled compounds are keen on adoption of automated radiosynthesis module. The average cost of automated radiosynthesis module is more than $50,000. Although these modules provide high accuracy, the high cost of installation and servicing limits its growth in the commercial market. In spite of the fact that there has been a global mandate to use automated radiosynthesis module to reduce radiation exposure to the operator in the clinical setting, the cost pose to be a barrier. The high start-up cost is projected to prohibit the users from the adoption of automated radiosynthesis module, which will further limit the growth of the market at a global platform.
FUNDING AND GRANTS CREATE MARKET OPPORTUNITY WORLDWIDE
The automated radiosynthesis module provides high yield and quality radiopharmaceuticals for multiple applications. Along with high-quality end products, the module also facilitates no radiation exposure to the operator, promoting the adoption of automated synthesis module at a commercial platform. Cost is a major obstacle that may hinder the growth of the global automated radiosynthesis module market. To overcome this constraint and promote the usage of automated radiosynthesis module, there are funding and grands provided by government as well as private institution. For instance, the Department of Energy provided approximately $1 million phase II grant under the Small Business Innovation Research (SBIR) program to develop microscale technology for rapid, simple synthesis of PET probes. These probes are radiopharmaceuticals that are manufactured using automated radiosynthesis module. Moreover, a study was published on May 2015 related to the radiosynthesis of 6-deoxy-6[18F]fluorosucrose using automated synthesis to understand its utility for the study of in vivo sucrose transport in maize (Zea mays) leaves.
The key players that operate in the market include GE Healthcare, Siemens Healthcare, IBA Radiopharma Solutions, Optimized Radiochemical Applications, Synthra GmbH, and Eckert & Ziegler Group.
Other market players in value chain include Sumitomo Corp, Scintomics GmbH, Sofie Biosciences, Trasis S.A, Raytest Isotopenmessgerte GmbH, and Posi-Med LLC.
KEY BENEFITS OF AUTOMATED RADIOSYNTHESIS MODULE MARKET:
- The study offers a detailed analysis along with market dynamics.
- A quantitative analysis of the current trends market and future estimations from 2014 to 2020 is provided, enabling all the stakeholders to capitalize the prevailing and emerging opportunities of the market.
- Key market players and their market share analysis in studied in the report.
- Strategic analysis of the key leaders and their business strategies within the market are provided, which assist stakeholders to make more informed business decisions.
- Porters Five Forces analysis examines the competitive structure of the global market and also provides a deeper understanding of the influence factors for market entry and market expansion.
AUTOMATED RADIOSYNTHESIS MODULE MARKET KEY SEGMENTS
By Geography (Value and Volume)
- North America
The key players that operate in the market include:
- GE Healthcare
- Siemens Healthcare
- IBA Radiopharma Solutions
- Optimized Radiochemical Applications
- Synthra GmbH
- Eckert & Ziegler Group
Other market players in value chain include:
- Sumitomo Corp
- Scintomics GmbH
- Sofie Biosciences
- Trasis S.A
- Raytest Isotopenmessgerte GmbH
- Posi-Med LLC