Global spending on medical imaging equipment exceeded $21 billion in 2010, according to a new report from TriMark Publications. Although X-ray remains the most used imaging procedure worldwide, MRI is in second place with 26 million examinations annually.
Growing volumes of diagnostic examinations and widening applications are driving an increase in the world market for imaging contrast agents, projected to reach $14 billion by 2015, according to the research group Global Industry Analysts. The US accounts for an estimated 40% share, followed by Japan and Europe.
Positron Emission Tomography
Xemed believes that the growth of Positron Emission Tomography (PET) with 18F-fluorodeoxyglucose (FDG) provides the most direct comparator to the future market of pulmonary functional Magnetic Resonance Imaging with MagniXene™. Both procedures require advanced contrast agents. Both require dedicated equipment infrastructure. Both address the diagnosis, staging, and management of life-threatening disease. PET imaging, however, requires a cyclotron for producing the radionuclide-labeled FDG agent and a dedicated scanner and scanning room. Pulmonary functional imaging with MagniXene™ can be performed with a multi-purpose MRI scanner but requires an on-site hyperpolarizer. Consequently, we believe that market acceptance of pulmonary functional imaging with MagniXene™ may grow more rapidly than PET (at equivalent time in the product history) because costs and dedicated infrastructure is less for MagniXene™.
In 2009 PET year-on-year growth in procedure volume was 9% with approximately 2 million studies performed. Manufacturers took orders for 164 PET systems resulting in $700 million in sales. Sales of the FDG contrast agent was $300 million in the same year. Projections of sales of PET contrast agents over 8 years to 2017 include growth of the FDG market from $300M to $900M, but also additional growth from newly emerging PET agents, bringing the projected total sales of PET imaging agents in 2017 to $3.4 billion..
Projections for MagniXene™
Projections for growth of pulmonary functional imaging with MagniXene™ depends on the capabilities of new image-guided therapies to address the needs of patients with respiratory diseases, the degree to which those therapies rely on MagniXene™ images, the improvement in patient outcome, and the willingness of payers to reimburse costs. We are evaluating three potential clinical use applications.
- Bronchial thermoplasty recently entered the commercial market to address the needs of 6 to 8 million patients worldwide with severe persistent and poorly controlled asthma. Xemed projects 50,000-100,000 bronchial thermoplasty procedures annually guided by MagniXene™ MRI by 2022.
- COPD is the fourth leading cause of death in the US. A range of minimally invasive procedures are under development for reducing air-trapping in COPD by opening obstructed airways with stents or closing off non-functional lung regions with valves or glues. Xemed projects 50,00-100,000 guided procedures by 2022
- Lung cancer patients can receive lethal tumor doses with reduced doses to healthy tissues with new intensity modulated radiation therapy. Pulmonary functional imaging has been shown to provide better treatment plans for patients preparing for this conformal therapy. Xemed projects 50,000-100,000 procedures guided by pulmonary functional imaging by 2022.
Xemed projects MagniXene™ revenues exceeding $100M on up to 300,000 examinations annually, supporting annual unit sales of 100 polarizers by 2022.
Xemed is a privately held company. Angel or Venture Capital Investors are invited to contact us.
Disclaimer: the above contains forward looking statements.