Molecular Imaging Market Shows Promise, but Major Barriers a Threat to Growth

Friday 13 September 2013, Amsterdam

The demand for Molecular Imaging is expected to show modest growth with the increasing global prevalence of cancer and Alzheimer’s disease, as it offers the possibility of accurate visualization and quantification of the patient’s condition, states research and a consulting firm.

The company’s latest report states that, although the current molecular imaging probe market is valued at approximately $1.3 billion and is expected to grow at Compound Annual Growth Rate (CAGR) of 5% in the US alone, too many market barriers are currently hindering the molecular imaging growth.

Some of those hurdles include the costs associated with molecular imaging procedures, such as capital investment required for purchase of imaging equipment and costs to develop imaging probes under the current regulatory framework. The lack of reimbursement for molecular imaging techniques is also a major barrier for market growth.

However, a main market driver is the enthusiasm surrounding personalized medicine, which allows physicians to choose the most appropriate treatment regime for a patient through molecular imaging tests, and the increasing need to diagnose diseases early for better and cost-effective treatment.

Niharika Midha, analyst covering Diagnostic Imaging, says: “Although there is both immense investment for developing new imaging probes and continuous innovation in imaging modalities, the euphoria surrounding molecular imaging is much greater than the actual growth rate of the field.

“Additionally, the regulatory pathway makes the development of an imaging agent a tedious, expensive and time-consuming process. It also does not provide enough incentives for companies to develop imaging probes, since the return on investment when compared with a therapeutic drug that requires the same regulatory tests is much reduced.”

However, the molecular imaging market is rapidly changing and many more products in early development are showing promise, which offers opportunities for companies that innovate or develop either imaging probes or techniques that could fulfill unmet needs.