Introduction to Perflutren
Perflutren, marketed under brand names such as DEFINITY and Optison, is a diagnostic medication used to enhance contrast during echocardiograms. It consists of lipid-coated microspheres filled with octafluoropropane (OFP) gas, which resonate when exposed to ultrasound waves, improving the visibility of the heart's inner edges and borders[4].
Market Size and Growth of Contrast Media
The global contrast media market, which includes perflutren, is projected to grow significantly. By 2024, the market size is estimated to reach USD 5.77 billion, with a Compound Annual Growth Rate (CAGR) of 7.44% expected to reach USD 6.59 billion by 2029[3].
Segment Growth Drivers
Several factors drive the growth of the contrast media market, including:
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Increasing Incidence of Chronic Diseases: The rising prevalence of heart and circulatory diseases, as well as other chronic conditions, increases the demand for diagnostic imaging procedures. For instance, around 7.6 million people in the UK live with heart and circulatory diseases, driving the need for enhanced diagnostic tools[3].
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Advancements in Imaging Techniques: Clinical advancements in iodinated contrast media, which are non-ionic, have low osmolality, and are highly safe, contribute to the segment's revenue growth. Strategic alliances among key market players, such as GE Healthcare's agreement to ensure iodine availability for X-ray and CT procedures, also propel market growth[3].
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Regulatory Approvals: Recent approvals, such as the FDA's approval of DEFINITY for use in pediatric patients with suboptimal echocardiograms, further expand the market[3].
Regional Market Dynamics
North America
North America is expected to contribute significantly to the market's growth due to the rising prevalence of long-term diseases and increasing healthcare expenditures. The region's high incidence of cancer, such as liver cancer, which saw 41,630 new diagnoses in the US in 2023, drives the demand for contrast media for diagnostic purposes[3].
Asia-Pacific
The Asia-Pacific region is identified as the fastest-growing market for contrast media. This growth is driven by a significant patient population that has yet to fully utilize contrast-enhanced imaging, creating substantial growth opportunities for manufacturers[3].
Financial Performance of Lantheus Holdings Inc.
Lantheus Holdings Inc., the company behind DEFINITY, has shown steady financial growth:
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Revenue Growth: In the first quarter of 2019, Lantheus reported worldwide revenues of $86.5 million, a 4.7% increase from the first quarter of 2018. The full-year 2018 revenues were $343.4 million, up 3.6% from 2017[2][5].
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Product-Specific Revenue: DEFINITY specifically saw a 14.5% revenue increase in the first quarter of 2019 compared to the same period in 2018, with revenues of $51.1 million[2].
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Net Income and Adjusted EPS: The company reported a net income of $9.9 million in the first quarter of 2019, with an adjusted net income per share of $0.28. This indicates a stable financial performance and growth in profitability[2].
Operational and Research Expenses
Lantheus Holdings Inc. has been investing in research and development, as well as sales and marketing efforts:
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Research and Development: The company spent $4.9 million on research and development in the first quarter of 2019, an increase from $3.9 million in the same period of 2018[2].
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Sales and Marketing: Sales and marketing expenses were $10.4 million in the first quarter of 2019, slightly down from $10.6 million in the first quarter of 2018[2].
Strategic Developments and Approvals
Recent strategic developments and regulatory approvals have been crucial for the market trajectory of perflutren:
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Pediatric Approval: The FDA's approval of DEFINITY for use in pediatric patients with suboptimal echocardiograms in March 2024 expands the product's market reach[3].
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Generic Contrast Media: The launch of generic contrast media agents, such as Fresenius Kabi's Iodixanol Injection in the US, indicates a competitive but growing market environment[3].
Key Takeaways
- The global contrast media market, including perflutren, is expected to grow significantly, driven by increasing chronic disease incidence and advancements in imaging techniques.
- North America and the Asia-Pacific region are key markets, with North America contributing significantly due to high disease prevalence and healthcare expenditures.
- Lantheus Holdings Inc. has shown steady revenue growth and investment in research and development, indicating a strong financial trajectory for DEFINITY.
- Recent regulatory approvals and strategic alliances are expected to further drive market growth.
FAQs
What is the primary use of perflutren in medical diagnostics?
Perflutren is used as an ultrasound contrast agent to enhance the visibility of the heart's inner edges and borders during echocardiograms[4].
How is the global contrast media market expected to grow?
The global contrast media market is expected to reach USD 5.77 billion by 2024 and grow at a CAGR of 7.44% to reach USD 6.59 billion by 2029[3].
Which regions are driving the growth of the contrast media market?
North America is expected to contribute significantly, while the Asia-Pacific region is identified as the fastest-growing market[3].
What was the revenue growth for Lantheus Holdings Inc. in the first quarter of 2019?
Lantheus Holdings Inc. reported a 4.7% increase in worldwide revenues to $86.5 million in the first quarter of 2019 compared to the same period in 2018[2].
What recent regulatory approval has impacted the market for DEFINITY?
The FDA approved DEFINITY for use in pediatric patients with suboptimal echocardiograms in March 2024, expanding its market reach[3].
Sources
- The History of Product Label Changes for DEFINITY® in the US - USC Journal
- Lantheus Holdings, Inc. Reports First Quarter 2019 Financial Results - Lantheus Holdings Inc.
- Contrast Media Market Report: Size, Share, Growth Analysis - Mordor Intelligence
- Perflutren: Uses, Interactions, Mechanism of Action - DrugBank Online
- Lantheus Holdings, Inc. Reports Fourth Quarter and Full Year 2018 - Lantheus Holdings Inc.
