Abstract
A comprehensive 258-page review of this fast-growing sector with extensive
company, product and research evaluations in all major MI areas.
The market for molecular imaging technology is facing a number of challenges.
The chronic shortage of key radiopharmaceuticals and negative US reimbursement
developments have affected the SPECT sector while an uncertain economic future
has impacted buyers' willingness to invest in capital equipment. Advanced MI
solutions offer real clinical and research benefits, but in current market
conditions, exactly when the technologies will realise their potential is open
to question.
Where does that leave the companies and organisations that are investing
US$billions to develop products?
Current research into MI involves different fields, including target
discovery, chemistry, cell biology, disease modelling, imaging, data
processing and clinical research. While some key molecular targets in certain
diseases are well established, newer targets, chemical ligands and sensing
technologies wait to be developed. Currently, most R&D into MI is focused on
clinical applications in cancer, neurological and cardiovascular diseases.
In addition, companies are focusing on translational research, i.e. developing
and marketing small animal, pre-clinical MI systems with the aim of
translating this technology to human use in the future. For example, in cancer
research, animal models of cancer are making it possible to perform studies
that are difficult or impossible to perform in humans. In addition, imaging
small animals can help assess the effectiveness of new instruments and
therapeutic technologies such as radiation therapy and directed drug therapies.
Despite some short-term factors that are likely to impact growth in the MI
market, there are strong opportunities in this area. 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, MI technologies will become more widely adopted as reimbursement
increases, clinical evidence is established as to its benefits, and new
technological innovations continue to be brought to market.
Espicom believes the market is currently worth around US$5 billion, with
50% of this being generated in North America...
Currently, nuclear imaging is the most widely-used and developed MI modality
for both clinical and pre-clinical use. Nuclear medicine is wellestablished
and the infrastructure is in place throughout the developed world for its use,
with over 13 million procedures undertaken annually. However, the use of this
technology is not as widespread as imaging techniques such as MRI or CT. While
the latter two technologies can be accessed from the vast majority of
hospitals in the developed world, access to nuclear imaging is limited to
specialist centres in hospitals and universities. There is also a major lack
of nuclear imaging infrastructure in the developing world and emerging markets.
Since 2006, the nuclear imaging market, along with the diagnostic imaging
market in general, has been in decline in terms of sales volumes. This has
mainly been due to a weak market environment in the US, the largest market for
imaging systems, as a result of the US government' s attempts to curb spending
on diagnostic imaging. These problems have been compounded by the global
economic crisis. The situation has been more positive in the international
market, where slight growth has been seen. While the number of nuclear imaging
systems sold has declined year-on-year, demand for procedures is rising,
leading to growth potential in the market for both radiopharmaceuticals and
consumables.
Growth returns, albeit slowly
All of the major imaging systems companies reported more positive results for
the fourth quarter of 2009, with orders either increasing or falling at a much
slower rate than seen earlier in the year. While there continues to be
weakness in the US, declines in this market are lessening. However, the main
growth is coming from other regions of the world, fuelled by increasing demand
in emerging markets such as India and China.
SPECT faces real challenges
With the global economic outlook becoming more promising, capital spending on
healthcare is expected to improve during 2010. Despite this, the outlook for
the nuclear imaging industry is highly uncertain with continued questions
about future funding and reform, as well as the unresolved matters surrounding
the supply of SPECT radiopharmaceuticals used in many procedures. In addition,
the SPECT market will be affected by recent CMS changes that will cut
reimbursement for cardiac myocardial SPECT imaging procedures by 36%.
A boost for PET
The outlook for the use of PET products is far more positive. Not only has
there been an increase in the number of PET procedures being undertaken due to
the lack of SPECT radiopharmaceutical availability, demand for PET is also
rising as a result of the CMS' decision in 2009 to expand reimbursement
coverage for the use of fluoro-deoxy-glucose (FDG)-PET in several new cancers,
and to increase reimbursement rates for cardiac myocardial perfusion PET
imaging by 20%.
The report covers companies active in the major MI sectors
- Nuclear Imaging
- Near infrared or optical imaging
- Ultrasound
- MRI
- Combination technologies
This report answers key business questions...
- What solutions are being considered to resolve the shortage of the
critical Molybdenum-99 Isotope?
- In which therapy sectors are MI technologies playing a key diagnostic role?
- What collaborative role are academic institutions playing in MI
development?
- Which companies are most advanced in developing combined PET/MRI imaging
systems?
- With whom is Aposense collaborating to commercialise its platform
technology for targeting apoptosis in vivo?
- With which company did Philips sign a MoU in September 2009 for the
development of Magnetic Particle Imaging scanners for the pre-clinical market?
- How have Covidien' s sales of radiopharmaceutical and contrast products
been affected by recent market and economic events?
- How has IBA' s aggressive acquisition and partnering policy positioned it
for international expansion?
This new report examines the trends and developments affecting the market and looks in detail at the work and collaborations of 70 of the companies involved.
Table of Contents
EXECUTIVE SUMMARY
- BACKGROUND
- MI Modalities
- Applications of MI
- Neurological Disease
- Oncology
- Cardiovascular Disease
- MI for Drug Development
- MARKET DYNAMICS
- Fig.1: Diagnostic Imaging Systems Market by Modality, 2008
- Fig.2: US Diagnostic Imaging Equipment Market, 2005-2009E (US$ billion)*
- Fig.3: Medical Imaging Market, 2005-2015E (US$ billion)*
- Fig.4: Nuclear Imaging Equipment Market, 2007-2015E (US$ billion)*
- Competitive Landscape
- Molybdenum-99 Isotope Supply Issues
- US Initiatives
- MDS Nordion and Canadian Supply
- Tc-99m Production Via Cyclotrons
- Developing Alternative Medical Isotopes
- Reimbursement and Regulatory Approval Issues
- FUTURE DEVELOPMENT
- The Role of Academic Institutions
- Collaborative Development Efforts
- Hybrid MRI/PET Imaging
- Siemens Prototype
- European HYPERImage Project
- Brookhaven National Laboratory and Stony Brook University
- Other Initiatives
MOLECULAR IMAGING COMPANIES
- ABT MOLECULAR IMAGING
- ABX
- ADVANCED CYCLOTRON SYSTEMS
- Products
- TR 24 Cyclotrons
- TR PET Cyclotrons
- TR 30 Cyclotrons
- ADVANCED MEDICAL ISOTOPE CORPORATION
- Products in Development
- US Production of Molybdenum-99
- Financial Performance
- Latest Results
- AMIC - Operating Results, 2006-2008 (US$ thousand)
- AFFIBODY
- Research Collaborations
- US National Cancer Institute
- GE Healthcare
- AGENIX
- ALSERES PHARMACEUTICALS
- Altropane
- Technetium-Based MI Agent
- Financial Performance
- ANTICANCER
- Research and Development
- Gene-Based Fluorescence-Labelling Technology for Cancer Surgery
- Current Alliances
- UVP
- Caliper Life Sciences
- INDEC Systems
- Olympus
- APOSENSE
- [18F]-ML-10
- Current Alliances
- IBA
- GlaxoSmithKline
- Sigma-Aldrich
- ART ADVANCED RESEARCH TECHNOLOGIES
- ART: Recent Events
- Products
- Optix MX3
- SoftScan Optical Breast Imaging System
- Fenestra Contrast Agents
- Current Alliances
- Canada' s Institute for Biological Sciences
- Financial Performance
- ART - Operating Results, 2004-2008 (US$ thousand)
- ASTELLAS PHARMA
- Lexiscan (regadenoson)
- Adenoscan (adenosine injection)
- ATREUS PHARMACEUTICALS
- Alliance with Advanced Proteome Therapeutics
- AVID RADIOPHARMACEUTICALS
- Products In Development
- Current Alliances
- Adler Institute for Advanced Imaging
- Bayer Schering Pharma
- MDS Nordion
- BAYER SCHERING PHARMA
- Recent Key Events
- Products
- Primovist/EOVIST/EOB
- Levovist
- Research and Development
- Current Alliances
- AC Immune
- Celera
- Hamamatsu Photonics
- Nagasaki University
- FutureChem
- Avid Radiopharmaceuticals
- Taisho Pharmaceutical, Nihon Nohyaku and National Institute of
Radiological Sciences, Japan
- Stanford University
- Philips
- MEDITRANS
- BIOSCAN
- Products
- NanoSPECT/CT and NanoPET/CT
- HiSPECT
- PET/ Nuclear Medicine Products
- Imaging Diagnostic Systems' Laser Imager for Lab Animals
- BIOSPACE LAB
- Recent Key Events
- Products
- Photon Imager System
- Gamma Imager
- Beta Imager
- Micro Imager
- Beta Microprobe
- M3 Vision Software
- Current Alliances
- LabChina Co Ltd and LabChina Taiwan Co Ltd
- Promega France
- BRACCO
- Products
- Current Alliances
- MDS Nordion
- ImaRx Therapeutics
- VisualSonics
- DRAXIMAGE
- MEDITRANS
- BRUKER BIOSPIN
- Recent Key Events
- Products
- BioSpec
- ClinScan
- PharmaScan
- Current Alliances
- Philips
- Aspect Magnet Technologies
- University of York, UK
- Iseult Programme
- Siemens
- Financial Performance
- BV CYCLOTRON VU
- Alliance with IBA Group
- Alliance with VU University Medical Centre
- CALIPER LIFE SCIENCES
- Recent Key Events
- Products
- IVIS Imaging Systems
- Reagents and Accessories
- Current Alliances
- DuPont
- AntiCancer
- Novartis
- Molecular Probes
- Stanford University
- Financial Performance
- Latest Results
- 2009 Outlook
- CAMBRIDGE RESEARCH & INSTRUMENTATION
- Maestro MI Systems
- Current Alliances
- VisEn Medical
- Invitrogen
- Massachusetts General Hospital
- CARDINAL HEALTH
- Recent Key Events
- Products
- Current Alliances
- Ohio Third Frontier and Ohio State University
- IBA Group
- UltraSPECT
- GE Healthcare
- Syntermed
- Neoprobe
- CARESTREAM HEALTH
- KODAK In Vivo MI Solutions
- KODAK In-Vivo Multispectral Imaging System FX
- KODAK In-Vivo Multispectral Imaging System F
- KODAK In-Vivo Imaging System FX Pro
- KODAK In-Vivo Imaging System F and FX
- Carestream Molecular Imaging Software
- Kodak X-Sight Imaging Agents
- CELLECTAR
- CELLPOINT
- EC Technology
- 99mTc-EC-G for Oncology
- 99mTc-EC-G for Cardiology
- 68Ga-EC-G
- 99mTc-EC-Metronidazole for Stroke
- Tumour Hypoxia
- N4 Technology
- Dual Agent Technology
- Current Alliances
- Eli Lilly and Company
- Philips Healthcare
- MD Anderson Cancer Center
- COVIDIEN
- Fig.5: Covidien' s Imaging Sales, 2006-2009 (US$ million)
- Radiopharmaceuticals
- Current Alliances
- Babcock & Wilcox
- Siemens
- BV Cyclotron VU
- CYCLOPHARMA
- DIGIRAD
- Recent Key Events
- Products
- Cardius XPO Series
- 2020tc Imager
- c.pax
- Financial Performance
- Digirad - Operating Results, 2004-2008 (US$ million)
- Fig.6: Digirad - Revenue by Division, 2008
- Latest Results
- DILON DIAGNOSTICS
- Recent Key Events
- Dilon 6800 Gamma Camera
- BSGI Clinical Trial Results
- GammaLOc
- Current Alliances and Contracts
- Philips
- Terason Ultrasound
- PenRad Mammography Information Systems
- Amerinet
- MedAssets
- DRAXIMAGE
- Products
- DRAXIMAGE Sestamibi
- MDP-25
- Research and Development
- Molyfill Technetium Generator
- Rubidium Generator
- Current Alliances
- Guerbet
- GE Healthcare
- Eckert & Ziegler Isotope Products
- Bracco
- ECZACIBASI-MONROL NUCLEAR PRODUCTS
- EUSA PHARMA
- FLUOROPHARMA
- Product Pipeline
- CardioPET
- BFPET
- VasoPET
- AZPET
- GAMMA MEDICA-IDEAS
- Lumagem Molecular Breast Imaging System
- FLEX Triumph Pre-Clinical Imaging
- X-O
- X-SPECT
- X-PET and LabPET
- Research and Development
- Current Alliances
- Mayo Clinic
- GE Healthcare
- SII NanoTechnology
- Exxim Computing
- GE HEALTHCARE
- Recent Key Events
- Products
- Nuclear Medicine
- Discovery PET/CT
- Pre-Clinical Systems
- PET Radiopharmacy Products
- Radiotracers and Molecular Imaging Agents
- Research and Development
- Research Projects
- Research Collaborations
- Distribution and Other Agreements
- DRAXIMAGE
- Cardinal Health
- ART Advanced Research Technologies
- United Pharmacy Partners
- Orbotech Medical Solutions
- Cytogen
- Photocure
- Albany Molecular Research
- IntraMedical Imaging
- Financial Performance
- Latest Results
- GE Healthcare Operating Results, 2004-2009 (US$ million)
- Fig.7: GE Healthcare - Revenue by Product, 2008*
- GUERBET
- Current Alliances and Collaborations
- DRAXIMAGE
- Iseult Programme
- MediTrans
- French National Center for Scientific Research and University Victor
Segalen Bordeaux
- HAMAMATSU PHOTONICS
- Products
- Animal PET Scanner SHR-7700
- Aequoria
- Research and Development
- Reflectance Diffuse Optical Tomography
- Alliances
- IBA (ION BEAM APPLICATIONS)
- Recent Key Events
- MI Products and Services
- Radiopharmaceuticals
- Cyclotron Equipment
- Research and Development
- Current Alliances
- Aposense
- Eczacsi-Monrol Nuclear Products
- BV Cyclotron VU
- Biotech Cyclotron of Texas (Cardinal Health)
- Hae Dong Co Ltd
- Lantheus Medical Imaging
- Wilex
- Other Research Partners
- Financial Performance
- IBA - Operating Results, 2005-2008 (EUR million)
- IBA - Revenue by Business Unit, 2005-2008 (EUR million)
- Fig.8: IBA - Revenue by Business Unit, 2008
- Latest Results
- IMAGINAB
- IMAGING DIAGNOSTIC SYSTEMS
- CTLM System
- Fluorescence and Molecular Imaging
- Laser Imager for Lab Animals (LILA)
- Financial Performance
- IDSI - Operating Results, 2005-2009 (US$)
- IMMUNOMEDICS
- LeukoScan
- Research and Development
- TF2 for Colorectal Cancer Imaging and Radioimmunotherapy
- Peptides for Imaging
- Current Alliances
- Financial Performance
- INDEC SYSTEMS
- INTRAMEDICAL IMAGING
- KEREOS
- Product Pipeline
- R&D Collaborations
- Washington University
- The Dow Chemical Company
- Lantheus Medical Imaging
- Philips
- LANTHEUS MEDICAL IMAGING
- Recent Key Events
- Products
- Gadofosveset Trisodium
- Definity
- Cardiolite
- TechneLite
- Research and Development
- LMI1195 for Cardiac PET Imaging
- BMS747158 for Cardiac PET Imaging
- Current Alliances
- Mo-99 Supply Agreements
- PETNET Solutions
- IBA Group
- Kereos
- ImaRx Therapeutics
- LIGHTOOLS RESEARCH
- MI Products
- Pan-A-See-Ya Panorama
- Macro-Illumination Imaging System
- Macro-Imaging System Plus
- MACROCYCLICS
- MDS NORDION
- Recent Key Events
- Products
- Medical Isotopes
- Radiopharmaceuticals
- Current Alliances
- Karpov Institute of Physical Chemistry
- Bracco
- TRIUMF and the University of British Columbia
- University of Ottawa Heart Institute
- Avid Radiopharmaceuticals
- Macrocyclics
- Molecular Insight Pharmaceuticals
- University of Liege
- Alseres Pharmaceuticals
- Financial Performance
- MDS - Results from Continuing Operations, 2007-2009 (US$ million)
- MDS Nordion - Revenue by Customer Location, 2006-2009 (US$ million)
- Fig.9: MDS Nordion - Revenue, 2006-2009 (US$ million)
- Fig.10: MDS Nordion - Revenue by Region, 2009
- MILABS
- Products
- U-SPECT/CTl
- U-CT
- U-SPECT II Scanners
- MOLECULAR INSIGHT PHARMACEUTICALS
- Recent Key Events
- Research and Development
- Zemiva
- Trofex
- Hypoxia Imaging Radiopharmaceuticals
- Current Alliances
- NAVISCAN
- Recent Key Events
- Positron Emission Mammography Scanner
- Stereo Navigator
- MIMviewer PEM
- Current Alliances
- SCETI
- Hae Dong Co Ltd
- MIMVista
- NEOPROBE
- Recent Key Events
- Gamma Detection for Cancer Surgery
- Research and Development
- Lymphoseek
- Fig.11: Lymphoseek Market Opportunity by Cancer Type, US$373 million
- RIGScan CR
- Current Alliances and Licences
- Dow Chemical Company
- Laureate Pharma
- Cardinal Health
- University of California, San Diego
- Ethicon Endo-Surgery and Century Medical
- Financial Performance
- Latest Results and Outlook
- NEUROLOGICA
- NUVIEW LIFE SCIENCES
- NVB64-PET for Breast Cancer Diagnosis
- PHARMALUCENCE
- PHILIPS HEALTHCARE
- Recent Key Events
- Nuclear Medicine and Molecular Imaging
- SPECT/CT Systems
- PET/CT
- Extended Brilliance Workspace
- Pre-Clinical Imaging
- Research and Development
- Research Establishments
- Molecular Imaging R&D Projects
- Research Alliances
- Distribution and Licensing Agreements
- Dilon Diagnostics
- Bioscan
- Sun MicroSystems
- Financial Performance
- 2009 Preliminary Results
- Philips Healthcare: Operating Results, 2007-2009 (EUR million)
- Fig.12: Philips Healthcare - Revenue by Segment, 2009*
- Fig.13: Philips Healthcare - Revenue by Region, Q4 2009*
- Philips Medical Systems: Operating Results, 2005-2007 (EUR million)
- PHOTODETECTION SYSTEMS
- NeuroPET
- Research and Development
- Adler Institute for Advanced Imaging
- POSITRON
- Recent Key Events
- Products
- Attrius Cardiac PET Scanner
- Pulse CDC Compact Digital Cardiac Camera
- Nuclear Pharm-Assist
- Tech-Assist
- Current Alliances
- Technology Imaging Services
- MedAxiom
- Financial Performance
- Fig.14: Positron - Sales by Region 2008
- Latest Results
- SENO MEDICAL INSTRUMENTS
- SHIMADZU
- MI Products
- PET Systems
- PET/CT Systems
- Clairvivo Pre-Clinical PET System
- SIEMENS HEALTHCARE
- Recent Key Events
- Molecular Imaging and PET Products
- PET/CT
- SPECT and SPECT/CT
- MI Workstations and Software
- Pre-Clinical Imaging
- Biomarkers
- R&D Activities
- Siemens Molecular Imaging Biomarker Research
- MRI/PET
- Research Agreements
- Supply, Distribution and Licensing Agreements
- Lantheus Medical Imaging
- Covidien
- Mubadala Development
- Medical University of South Carolina
- Cleveland Clinic
- Bruker BioSpin
- University of Muenster
- Financial Performance
- Siemens Healthcare - Operating Results, 2005-2009 (EUR million)
- Siemens Healthcare - Imaging and IT Division Results, 2006-2009 (EUR million)
- Fig.15: Siemens Healthcare Sales by Division, 2009
- Latest Results
- SOFIE BIOSCIENCES
- SPECTRUM DYNAMICS
- D-SPECT Cardiac Imaging System
- TRIAD ISOTOPES
- ULTRASPECT
- VARIAN MEDICAL SYSTEMS
- VISEN MEDICAL
- Recent Key Events
- Fluorescence Molecular Tomography Imaging Systems
- Imaging Agents
- Current Alliances
- MosaMedix
- Massachusetts General Hospital
- Cambridge Research & Instrumentation
- Fox Chase Cancer Center and Olympus
- Merck
- Analogic
- Siemens
- VISUALSONICS
- Recent Key Events
- Products
- Vevo 770
- Vevo 2100
- MicroMarker Contrast Agent Kits
- Mauna Kea Technologies' Pre-Clinical Imaging Technologies
- Current Alliances
- Mauna Kea Technologies
- Seno Medical Instruments
- Bracco
- University of Virginia
- WILEX
- Redectane
- Alliance with IBA Group
- ZECOTEK PHOTONICS
- Medical Imaging Technologies
APPENDICES
- APPENDIX 1 - LIST OF ABBREVIATIONS
- APPENDIX 2 - REPORT METHODOLOGY
