Australia’s Telix Pharmaceuticals is developing an advanced portfolio of radiopharmaceuticals products that address significant unmet medical need in renal, prostate and brain (glioblastoma) cancer. Recently Telix announced the establishment its Japanese subsidiary and the appointment of the first two members of the Japanese leadership team. Dr Shintaro Nishimura, President and Chief Operating Officer of Telix Japan, elaborated on APAC’s oncology market as well as opportunities and challenges in the Japanese market for radiopharmaceutical products.
Globally, the radiopharmaceutical medicine market is expected to reach USD 13.8 billion by 2024, according to a new report by Grand View Research. The market is driven by increasing number of cancer cases and rising awareness about nuclear medicine. Radiopharmaceuticals are pharmaceutical formulations comprising radioactive isotopes that are used in diagnosis and therapeutics. They contain a radioactive substance that is used in the treatment of cancer and cardiac and neurological disorders. The conventional chemotherapy methods are being replaced by more convenient therapeutic radiopharmaceuticals for oncology and cancer treatment, which opens up new avenues in the radiopharmaceuticals market. The convenience of the treatment with minimally invasive techniques attracts more patients towards radiopharmaceuticals mode of treatment as compared to chemotherapy.
Nuclear medicine also helps detect the presence of disease in its earliest stages and is one of the most favorable drivers of the market, as public awareness about chronic diseases is increasing. Increasing diagnostic nuclear medicine procedures is supporting the growth of the market and experts indicate that use of radiopharmaceuticals in diagnosis is growing at over 10% per year throughout the world.
The past decade has seen a mammoth rise in cancer cases and other lifestyle disorders in APAC and thus, this regions is expected to register fastest growth in nuclear medicine space in comparison to other global countries. Research reports elaborate that nuclear medicine practice in Japan is in high demand with a significant increase in cancer cases in recent years. Furthermore, China and India are boosting the growth of the Asia Pacific nuclear medicine market with increasing demand for treatment and diagnosis of Alzheimer’s and Parkinson’s disease.
With many unique advantages, radiopharmaceuticals offer clear potential for players in emerging Asian countries as there is a need to broaden healthcare coverage and address unmet medical needs. Realizing the market potential, recently several Asian companies have been increasing their focus on radiopharmaceuticals.
Entering the Japanese market, Telix Pharmaceuticals , an Australian biopharmaceutical company focused on the development of radio pharmaceutical diagnostic and therapeutic interventions recently announced the establishment Telix Pharmaceuticals (Japan) ("Telix Japan") and the appointment of the first two members of the Japanese leadership team.
Telix Japan is wholly-owned operating subsidiary of Telix Pharmaceuticals Limited. The purpose of the subsidiary is to support the Company’s Japanese clinical and radiopharmaceutical manufacturing activities and to establish a commercial footprint in the Japan, an important market for Telix’s products. Telix is developing an advanced portfolio of oncology products that address significant unmet medical need in renal, prostate and brain (glioblastoma) cancer.
Recently Telix Pharmaceuticals also inked a manufacturing deal with JFE Engineering Corporation in order to develop and make Telix’s products available to Japanese cancer patients.
To lead the Telix Japan activities, Dr. Shintaro Nishimura and Dr. Takeshi Oka have been appointed as President and Chief Operating Officer, and Chief Medical Officer (Japan), respectively.
Speaking to BioSpectrum Asia Magazine, Dr Shintaro Nishimura, President and Chief Operating Officer of Telix Japan, elaborated on APAC’s oncology market as well as opportunities and challenges in the Japanese mar...
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