Assessing Market Attractiveness to Enter the Radiopharmaceutical Business in India

Client Challenge

The client was an integrated pharmaceutical industry player from India that had recently acquired a Canadian company with radiopharmaceuticals in its product portfolio. This provided it with an opportunity to enter the Indian radiopharmaceutical business. The client requested UC Strategy to conduct a detailed market assessment of radiopharmaceutical and contrast agents for CT and MRI in the Indian market, as well as evaluate its feasibility based on the attractiveness of the market.

Our Approach

To conduct a detailed market assessment, UC Strategy studied the market and gained an understanding in the following:

  • Perspective on the current market size, growth and outlook over next 5 years for key applications and modalities across India for radiopharmaceuticals, contrast agents for CT and MRI scans and radioimmunoassay kits
  • Insight into the overall usage of radiopharmaceuticals in India – i.e. diagnostics vs. therapeutics
  • Synthesis of opinions from key opinion leaders on the usage of radiopharmaceuticals and potential cannibalisation by modalities of one another
  • An understanding of whether a radio pharmacy model is a need in India and its potential benefits
  • Insight on the economics underlying this market
  • View on the competitive landscape and the challenges it posed for our client
  • Understanding of the regulatory framework from AERB (Atomic Energy Regulatory Board), laws and import duty structure, patents expiring for both radioisotopes and cold kits

Our Impact

The analysis revealed that our client could launch its products at a price point between two key leading competitors in the market. We also recommended that the client consider setting up a radiopharmacy. We cautioned the client, a large Indian MNC, to consider the material significance of the radiopharmaceutical market (given that it is nascent in India) before entering the space.