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Indiana’s momentum in the radiopharmaceutical industry gives us an honest claim to the title “Radiopharmaceutical Capital of the World.” But we are not the only ones vying for it.
Ontario, Canada, has had a head start, built around a strategic facility at McMaster University that provides raw material for the industry. Belgium, Germany and Switzerland also have vibrant ecosystems, and excitement is growing globally about a $7 billion to $8 billion industry projected to grow 15%-20% a year through 2030.
There should be no doubt in 2025: We are in the lead in manufacturing and logistics. Our cluster of facilities, backed by global leaders in life sciences and strategically located for easy transportation, is unmatched. But the sector’s success depends on more than supply. Leaders at Novartis recently noted that, “Beyond reliable manufacturing, successful adoption of [radioligand therapy] requires addressing implementation barriers that could otherwise limit patient access.”
This is our opportunity—not just to capture more of a growing market but to de-risk and grow the market more by showing the way to scaled implementation.
Attending the leading scientific meeting for oncology this year, I was struck by the continued optimism of the discussions and promise for “theranostics”—products that have both a therapeutic (treating disease) and diagnostic (detecting disease) purpose—using radiopharmaceuticals.
But there was also a common theme and concern about integrating these novel technologies into a health care system that isn’t accustomed to them.
Put another way, we won’t reach our full potential if we don’t scale care delivery of radiopharmaceuticals in the health system. Health care innovators perennially struggle to translate brilliant science into scaled care delivery. And radiopharmaceuticals require unique adaptations, including licensing and physical facility requirements during administration. As clinical trials proceed—for treating not just new types of cancer but also Alzheimer’s disease and other conditions—these barriers will become even more important to address.
So what would it take for Indiana to be the exemplar in addressing those implementation barriers and facilitating those adaptations? And why should we want to?
The prize for us starts with something we should want, anyway: providing this innovative care smoothly and efficiently to Hoosiers across the state, especially in rural community oncology settings. But putting our focus into doing so better than anywhere else could have several knock-on effects for growth, including:
◗ Becoming the global educational destination where nuclear medicine doctors, nuclear pharmacists, engineers, technologists and operators get only-in-Indiana training opportunities, building on our strength from Purdue University’s nuclear pharmacy and engineering programs.
◗ Attracting patients from outside the state or country to get care here or participate in clinical trials, driving volume and growth for our health care systems.
◗ Building AI, technology and services companies here that support the unique needs of radiopharmaceutical care delivery.
◗ Pioneering regulatory innovation, positioning Indiana as the safest and most efficient place in the world to produce, administer and benefit from radiopharmaceuticals
While manufacturers, pharmacies and health care systems are the primary players, I also want to invite more readers into this journey. Employers and benefits advisers should understand whether these therapies are covered by their health plans and are reimbursed appropriately. Investors and startup founders should consider the singular opportunities in this ecosystem. And we all as residents and taxpayers should consider the strategic position this sector occupies and engage with our elected representatives across the state.
I believe this opportunity deserves a “whole of Indiana” effort and a renewed ambition to develop talent, infrastructure and policies that will sustain our momentum. Hoosiers even outside of health care can and should contribute to this rare opportunity for global leadership.•
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Callahan is head of U.S. at Prova Health.
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