High Prevalence of Chronic Diseases and R&D in Positron Emission Tomography/Computed Tomography to Augment Growth of Molecular Imaging Market

 

Molecular Imaging Market

Molecular imaging is an emerging area of modern medical imaging, which focuses on labeling cells with fluorescent or reflective molecules which are then observed under a microscope. This is unlike traditional methods of obtaining molecular information from frozen tissue samples, like biopsy. For one thing, molecular imaging does not require any special tools; images can be obtained just by using ordinary equipment like a digital camera and a fluorescence microscope for specimens that are sufficiently small. The fluorescent or colored dyes used in the analysis process emit wavelengths of green or yellow, which are detected by an optical reader.

Market Dynamics

High prevalence of chronic diseases is expected to propel growth of the molecular imaging market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Moreover, successful radiolabeling of imaging products is also expected to aid in growth of the market. For instance, in January 2021, ARTMS Inc. and Isotopia MolecularImaging announced the successful radiolabeling of Isotopia’s prostate cancer imaging kit product, PSMA-11, with over 2 Ci of cyclotron-produced Gallium-68 (68Ga) using ARTMS’ proprietary Quantum Irradiation System solid target system.

R&D in positron emission tomography/computed tomography is expected to offer lucrative growth opportunities for players in the molecular imaging market. For instance, in May 2020, Blue Earth Diagnostics, a Bracco company focused on molecular imaging diagnostics, announced results from early clinical experience in Germany with positron emission tomography/computed tomography (PET/CT) imaging using rhPSMA-7.3 (18F), a radiohybrid Prostate Specific Membrane Antigen-targeted compound.

The global molecular imaging market is witnessing several M&A activities. For instance, in January 2021, Smart Breast Corporation, a privately held company focused on breast cancer screening and detection, acquired molecular breast imaging assets from Dilon Technologies for an undisclosed amount.

Competitive Analysis

Major players operating in the global molecular imaging market include, Carestream Health, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Ltd, Hologic, Inc., Siemens AG, Philips Healthcare, Samsung Medison, NorthStar Medical Radioisotopes, LLC, Shimadzu Corporation, Isotopia MolecularImaging, and Toshiba Medical Systems Corporation.

Major players operating in the global molecular imaging market are focused on adopting various strategies to enhance their market share. For instance, in June 2019, NorthStar Medical Radioisotopes, LLC presented domestic Mo-99 production, expansion plans and use of the RadioGenix System (technetium 99m generator) at the Society of Nuclear Medicine and Molecular Imaging Annual Meeting.


Location: India

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