The gallium-68 market forecast can help stakeholders in this marketplace outline their growth strategies. The market is projected to grow from US$ 782.36 million in 2022 to US$ 1,070.34 million by 2030; it is estimated to record a CAGR of 4.0% during 2022–2030.
Market Insights and Analyst View:
Gallium-68 is a positron-emitting radioisotope used in medical diagnostic procedures. It is produced from germanium-68/gallium-68 (68Ge/68Ga) generator and a half-life of 68 minutes. An increase in the prevalence of prostate cancer and neuroendocrine tumors, and an upsurge in the use of nuclear imaging techniques are among the major factors propelling the gallium-68 market growth. However, the short shelf-life of gallium-68 impedes the growth of the market. Further, the use of radioactive tracers in cancer diagnosis is expected to bring new gallium-68 market trends in the coming years.
Growth Drivers:
Increase in Prevalence of Prostate Cancer and Neuroendocrine Tumors Drives Gallium-68 Market Growth
The high prevalence of prostate cancer and neuroendocrine tumors results in an elevated demand for positron emission tomography (PET) diagnostic procedures. According to the Mayo Foundation for Medical Education and Research (MFMER), neuroendocrine tumors develop from malignant growth of neuroendocrine cells. Gallium-68 (Ga-68) is used for the radiolabeling of radioactive diagnostic agents to locate somatostatin receptor-positive neuroendocrine tumors in adults and children via PET. According to Cancer Research UK, more than 4,000 people are diagnosed with a neuroendocrine tumor each year in the UK. ~50% of neuroendocrine tumors start in the digestive system (stomach, small and large bowel, pancreas, and rectum), and ~20% start in the lungs. As per the American Society of Clinical Oncology (ASCO), nearly 12,000 people in the US are diagnosed with a neuroendocrine tumor every year, and an estimated 171,000 people live with this diagnosis.
Ga-68 is majorly used to detect cancer cells in the human body. For instance, the Ga-68 PSMA-11 PET-scan imaging agent is widely used to detect prostate cancer cells. According to the World Cancer Research Fund (WCRF) International, more than 1.4 million new cases of prostate cancer were reported in 2020. Similarly, As per the International Agency for Research on Cancer (IARC), the number of prostate cancer cases is estimated to rise from ~1.47 million in 2022 to ~1.83 million by 2030 and ~2.88 million by 2050. Thus, prostate cancer and neuroendocrine tumors require an accurate medical diagnosis with Ga-68-based PET, which helps to improve tumor detection and facilitates effective treatment planning. Therefore, the increasing prevalence of these conditions bolsters the gallium-68 market size.
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Gallium-68 Market: Strategic Insights
Market Size Value in US$ 782.36 million in 2022 Market Size Value by US$ 1,070.34 million by 2030 Growth rate CAGR of 4.0% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Gallium-68 Market: Strategic Insights
| Market Size Value in | US$ 782.36 million in 2022 |
| Market Size Value by | US$ 1,070.34 million by 2030 |
| Growth rate | CAGR of 4.0% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The gallium-68 market analysis has been carried out by considering the following segments: application and end user. By application, the market is segmented into oncology, neurology, cardiology, and others. The oncology segment held the largest gallium-68 market share in 2022 and is anticipated to register the highest CAGR during the forecast period. The market for the oncology segment is subsegmented into prostate cancer, neuroendocrine tumors, and others.
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The market, by end user, is categorized into hospitals, diagnostic and imaging centers, and others. The hospitals segment held the largest gallium-68 market share in 2022. Further, the same segment is anticipated to register the highest CAGR during the forecast period.
Regional Analysis:
The geographic scope of the gallium-68 market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest market share. Advancements in technologies such as hybrid imaging, the introduction of novel radiopharmaceuticals for diagnosis and treatment, and the development of molecular imaging techniques based on the tracer principle significantly contribute to the progress of nuclear medicine in the US. Access to advanced healthcare infrastructure, the rising incidence and prevalence of prostate cancer, and product innovations by key players further contribute to the expansion of the gallium-68 market in North America. According to the International Agency for Research on Cancer (IARC), the cancer patient count in the US is expected to increase from 2.28 million cases in 2020 to 3.12 million cases by 2040. Thus, the increasing cancer cases are expected to boost demand for nuclear imaging, which favors the gallium-68 market progress.
Gallium-68 Market, by Application – 2022 and 2030
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Industry Developments and Future Opportunities:
A few strategic developments (as per company press releases) by leading players operating in the gallium-68 market are listed below:
- In December 2023, Ariceum Therapeutics was granted US and Canadian patents for its Gallium-68 (Ga-68) radiopharmaceutical production kit. The IP was developed by Theragnostics Ltd, which was acquired by Ariceum in 2023. Earlier, the production of Ga-68 radiopharmaceuticals involved a multistep approach, which limited the number of patient doses that could be produced at any time. The Ga-68 technology platform of Theragnostics enables the production of multiple doses of Ga-68 HBED-PSMA-11 in a single vial in one simple step.
- In March 2023, Telix Pharmaceuticals received FDA approval for its supplementary New Drug Application (sNDA) for Illuccix (Ga-68 gozetotide injection preparation kit) for the screening of patients with metastatic prostate cancer, who were recommended Lutetium-177 PSMA-directed therapy.
- In October 2022, Telix won Health Canada’s approval for Illuccix (Ga-68 gozetotide injection preparation kit) for use in the staging and re-staging of intermediate and high-risk prostate cancer, as well as for the localization of tumor tissue in recurrent prostate cancer. Illuccix, following radiolabeling with Ga-68, is recommended for use with PET to detect PSMA-positive lesions in males with prostate cancer.
- In September 2021, Eckert & Ziegler Radiopharma GmbH submitted an amendment to their Drug Master File (DMF) for GalliaPharm to the US FDA, thereby extending its Gallium-68 Generator portfolio into the US market. The company had plans to offer its patented Ge-68/Ga-68 generator in size of up to 100 mCi, with a shelf life of 12 months or 700 elutions. Ga-68 from GalliaPharm is used to prepare diagnostic imaging medicines for PET.
Competitive Landscape and Key Companies:
Novartis AG, Telix Pharmaceuticals (US) Inc, IRE-ELiT SA, ITM Medical Isotopes GmbH, Eckert & Ziegler Radiopharma GmbH, ARTMS Inc, IBA Radiopharma Solutions, Cardinal Health, Rosatom, and Evergreen Theragnostics Inc are among the prominent companies profiled in the gallium-68 market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Gallium-68 is a positron-emitting radioisotope used in medical diagnostic procedures produced from germanium-68/gallium-68 (68Ge/68Ga) generator. Gallium-68 has good positron-emitting properties and a half-life of 68 min.
Factors such as increase in the prevalence of prostate cancer and neuroendocrine tumors and the increasing use of nuclear imaging techniques propel the gallium-68 market growth.
The gallium-68 market majorly consists of the players, including Novartis AG, Telix Pharmaceuticals (US) Inc, IRE-ELiT SA, ITM Medical Isotopes GmbH, Eckert & Ziegler Radiopharma GmbH, ARTMS Inc, IBA Radiopharma Solutions, Cardinal Health, Rosatom, and Evergreen Theragnostics Inc.
The gallium-68 market was valued at US$ 782.36 million in 2022.
The gallium-68 market is expected to be valued at US$ 1.070.34 million in 2030.
By application, the market is segmented into oncology, neurology, cardiology, and others. The oncology segment held the largest gallium-68 market share in 2022 and it is anticipated to register the highest CAGR during the forecast period. Based on oncology the market is subsegmented into prostate cancer, neuroendocrine tumors, and others.
The market, by end user, is categorized into hospitals, diagnostic and imaging centers, and others. The hospitals segment held the largest gallium-68 market share in 2022 and it is anticipated to register the highest CAGR during the forecast period.
The List of Companies - Gallium-68 Market
- Novartis AG
- Telix Pharmaceuticals (US) Inc
- IRE-ELiT SA
- ITM Medical Isotopes GmbH
- Eckert & Ziegler Radiopharma GmbH
- ARTMS Inc
- IBA Radiopharma Solutions
- Cardinal Health
- Rosatom
- Evergreen Theragnostics Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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