Automated Radiosynthesis Module Market: Asia Pacific is Expected to Expand at a Rapid Growth Rate
Radiosynthesis modules are offered as automated equipment for dispersed settings for the formulation as well as production of radiotracers. A large number of radiotracers are produced in centralized laboratories as well as radiopharmaceutical units. However, these set-ups have a few limitations. For instance, reduction in the scope for production customization of radiotracers and lengthening the time in which radiotracers reache end-users.
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Also, radiotracers have an inadequate half-life. Therefore, their performance declines once engaged for diagnosis or therapy administration. Automated radiosynthesis modules are simple in their set up and readily usable. They provide scope for customization of radiotracers. This leads to a rise in the performance level of the diagnostic process as well as improvement in therapy monitoring activities for end- users.
Factors such as increase in the prevalence of chronic diseases and rise in the adoption rate of PET/SPECT imaging are boosting radiotracer production process automation. Also, it is expected that the supply of these products will become streamlined as well as effective, due to better and improved cGMP guidelines provided by the FDA. Therefore, manufacturers are anticipated to earn additional income by expanding their product offerings in order to meet the needs of new markets.
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However, high prices of products are expected to impede automated radiosynthesis module market growth and reduce the rate of adoption of these modules. Nevertheless, the ready availability of funds and grants from various government and public bodies is expected to offer attractive opportunities to the automated radiosynthesis module market.
The global burden of chronic diseases is rising at an alarming rate. Therefore, the global health care industry is concentrating on the timely diagnosis of diseases in order to provide speedy treatment. This is expected to help in limiting the global burden of chronic disorders such as cancer, cardiovascular (CVS) diseases, chronic obstructive pulmonary disorders (COPD), and others. Various diagnostic tools such as PET and SPECT are being adopted across the globe to limit the rampant rise in the rates of chronic diseases. The tools provide high-resolution quality imaging, thereby simplifying the difficult diagnosis process. This equipment utilizes PET radiopharmaceuticals with short lifespan radioactive isotopes that are produced with the help of the fully automated radiosynthesis process. Radiopharmaceuticals are integrated in the PET/CT/SPECT scanners in order to develop the tomographic imaging diagnostics methods utility that are commercially available.
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Based on geography, the global automated radiosynthesis module market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a prominent share of the market in terms of revenue, followed by Europe. The automated radiosynthesis module market in emerging countries such as China, South Korea, Brazil, and India is expected to expand significantly over the next five years. However, North America and Europe are estimated to continue to dominate the market. The significant market share of North America is attributed to the firm health care infrastructure and rise in the adoption rate of automated radiosynthesis modules across various health care settings.
The automated radiosynthesis module market in Asia Pacific is expected to expand at a rapid growth rate due to an increase in the geriatric population rise in investment by automated radiosynthesis module market players in emerging countries such as China and India, and increased consumer awareness about the use of automated radiosynthesis modules. Middle East & Africa and Latin America are expected to be regions with high prospects in the near future.
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Some of the major players operating in the automated radiosynthesis module market include GE Healthcare, Siemens Healthcare, IBA Radiopharma Solutions, Optimized Radiochemical Applications, Synthra GmbH, and Eckert & Ziegler Group. The other players in this sector include Sumitomo Corp, Scintomics GmbH, Sofie Biosciences, Trasis S.A, Raytest Isotopenmessgerte GmbH, and Posi-Med LLC.
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