The prostate cancer nuclear medicine diagnostics market is expected to grow from US$ 720.12 million in 2022 to US$ 1,315.66 million by 2028. It is estimated to grow at a CAGR of 10.6% from 2022 to 2028.
Prostate cancer affects the prostate glands in males. Prostate cancer is common cancer following skin cancer in males. Some common determinants responsible for the start of prostate cancer are family history, old age, and race. Nuclear medicine is imaging that needs radioactive materials. It is a helpful method to identify and treat prostate cancer and helps radiologists conclude the stage of cancer.The prostate cancer nuclear medicine diagnostics market is analyzed into type, PET product, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The prostate cancer nuclear medicine diagnostics market report offers insights and in-depth analysis of the market, emphasizing parameters, such as market trends, market dynamics, and the competitive analysis of the globally leading market players.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Prostate Cancer Nuclear Medicine Diagnostics Market: Strategic Insights
Market Size Value in US$ 720.12 million in 2022 Market Size Value by US$ 1,315.66 million by 2028 Growth rate CAGR of 10.6% from 2022 to 2028. Forecast Period 2022- 2028 Base Year 2022
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Prostate Cancer Nuclear Medicine Diagnostics Market: Strategic Insights
| Market Size Value in | US$ 720.12 million in 2022 |
| Market Size Value by | US$ 1,315.66 million by 2028 |
| Growth rate | CAGR of 10.6% from 2022 to 2028. |
| Forecast Period | 2022- 2028 |
| Base Year | 2022 |
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Lucrative Regions for Prostate Cancer Nuclear Medicine Diagnostics Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Surging Demand for Early and Precise Diagnosis of Prostate Cancer to Drive Prostate Cancer Nuclear Medicine Diagnostics Market
The rise in PSA levels increases the risk of prostate cancer. PSA levels in the blood are measured in nanograms per milliliter (ng/mL) units. There is no definitive cutoff point that can determine if a man has prostate cancer or not. When assessing whether a man needs further testing, many doctors choose a PSA cutoff of 4 ng/mL or above, while others may advocate starting at a lower level, such as 2.5 or 3. Therefore, testing PSA levels in a man's blood can detect prostate cancer early.
A digital rectal exam (DRE) is another approach for detecting prostate cancer. The doctor uses a gloved, lubricated finger to feel the prostate gland during the exam. Regular screening with a well-validated biomarker could lead to quicker detection of localized disease. Furthermore, distinguishing between low-grade and high-grade disease is critical to avoid unnecessary biopsies, undertreatment of serious disease, and overtreatment of indolent disease.
Following are a few examples of companies that launched new products developments and product approvals:
- In April 2022, Telix announced that its prostate cancer imaging agent, Illuccix (kit for the preparation of gallium Ga 68 gozetotide), also known as 68Ga-PSMA-11 injection, will be commercially available in the US.
- In March 2022, Novartis announced that the FDA approved Pluvicto (lutetium Lu 177 vipivotide tetraxetan) (formerly known as 177Lu-PSMA-617) for the treatment of adult patients with prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) that has spread to other parts of the body (metastatic).
- In March 2022, the FDA approved a complementary diagnostic imaging agent, Locametz, after radiolabeling with gallium-68 to identify PSMA-positive lesions. After radiolabeling, this imaging agent may be used to identify PSMA-positive lesions in adult patients with mCRPC through a positron emission tomography scan.
Such product developments by market players are driving the prostate cancer nuclear medicine diagnostics market.
Type Insights
Based on type, the global prostate cancer nuclear medicine diagnostics market is segmented into SPECT and PET. The PET segment held the largest share of the market in 2021. Moreover, the same segment is anticipated to register the highest CAGR in the market during the forecast period. The adoption of PET as a diagnostic tool is significantly increasing, as it offers higher accuracy than other diagnostic techniques. Accuracy in diagnosis has a direct impact on decision-making and treatment monitoring processes. The increasing demand for these diagnostic procedures is expected to fuel the growth of the prostate cancer nuclear medicine diagnostics market during the forecast period.
Prostate Cancer Nuclear Medicine Diagnostics Market, by Type – 2022 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Services Insights
Based on PET products, the global prostate cancer nuclear medicine diagnostics market is segmented into F-18, C-11, and Ga68-PSMA. The F-18 segment is likely to hold the largest share of the market in 2022. However, the Ga68-PSMA segment is anticipated to register the highest CAGR in the market during the forecast period. Ga68-PSMA is a non-invasive diagnostic approach that uses enhanced prostate-specific membrane antigen (PSMA) expression to imaging prostate cancer. PSMA is a transmembrane protein found throughout the prostate. PSMA expression is upregulated in a variety of cancers, but prostate cancer has the highest levels. Furthermore, PSMA expression has a predictive value for illness outcomes. PET produces semi-quantitative pictures that enable non-invasive measurement of PSMA expression by measuring the three-dimensional distribution of Ga68-PSMA.
Partnerships and collaborations are highly adopted strategies by the global prostate cancer nuclear medicine diagnostics market players. A few of the recent key market developments are listed below:
- In April 2022, Telix announced a partnership with Avanço and THP to distribute Telix's prostate cancer investigational imaging product for the Portuguese and Austrian, Czech Republic, and Slovak Republic markets.
- In August 2022, Telix released details of two ancillary studies under the ProstACT program, including a Phase II study collaborating with GenesisCare.
- In February 2021, Theragnostics announced a research agreement with Essen University Hospital to investigate THG-008 for PET imaging in several cancers as radiolabeled PARP inhibitors have the potential to improve patient survival in cancer.
The outbreak of the COVID-19 pandemic situation has shown some favorable scenarios for players operating in the prostate cancer nuclear medicine diagnostics market. Various people across the North American region are affected by COVID 19. the US is a highly affected country in the North American region. The infection has severely affected the geriatric population in the country, causing various complications and leading to the death of a large population. For instance, As of May 16, 2022, The US report 84,230,829 COVID cases with the death of 1,026,670 people. In addition, chronic wounds or non-healing wounds are mostly seen in older people and take longer to heal. Therefore, prostate cancer nuclear medicine diagnostics and proper care are required to prevent chronic cases of infection and health conditions.
Furthermore, due to the outbreak of COVID-19, various hospitals were engaged in treating the affected people. The COVID-19 epidemic resulted in a significant drop in cancer screening. However, the epidemic has resulted in a total screening deficiency in the United States. COVID-19-related delays in cancer screenings are thought to be causing additional excess fatalities that are directly linked to the epidemic. Prostate biopsy and PC diagnosis rates fell during the COVID-19 pandemic, especially during the outbreak's peak.
Additionally, before the pandemic, imaging services in Europe, mainly the UK, suffered from chronic underinvestment with a lack of imaging acquisition and reporting capacity. For example, this was related to a significant workforce and equipment shortage. But with new IPC measures, the particular social distancing of 2m in all healthcare settings, these shortages have met CT capacity at the time of writing about 40-70% of pre-COVID levels. Also, MRI is slightly better, accounting for 80%. Further, the imaging services are working hard to regain momentum by restoring capacity and recovering patient confidence. It remains clear that fundamental changes can only be made with significant investment for addressing the chronic underfunding of radiologists, radiographers, and imaging equipment.
Prostate Cancer Nuclear Medicine Diagnostics– Market Segmentation
The global prostate cancer nuclear medicine diagnostics market is analyzed on the basis of type, PET product, end user, and geography. In terms of type, the market is bifurcated into PET and SPECT. Based on PET product, the market is segmented into F-18, C-11, and Ga68-PSMA. Based on end user, the market is segmented into hospitals, clinics, and others. Geographically, the prostate cancer nuclear medicine diagnostics market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
Company Profiles
- Blue Earth Diagnostics Limited
- ImaginAb
- Curium
- Jubilant Radiopharma
- NCM-USA LLC
- ABX advanced biochemical compounds GmbH
- Telix Pharmaceuticals Ltd.
- Novartis AG
- Theragnostics
- Lantheus Medical Imaging, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, PET Product, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Prostate cancer affects the prostate glands in males. Prostate cancer is common cancer following skin cancer in males. Some common determinants responsible for prostate cancer are family history, old age, and race. Nuclear medicine is imaging that needs radioactive materials. It is a helpful method to identify and treat prostate cancer and helps radiologists conclude the stage of cancer. Prostate cancer (PCa) is the fourth most common cancer across the US in terms of occurrence.
Factors such as the rising prevalence of prostate cancer and surging demand for early and precise diagnosis of prostate cancer.
The high cost related to the prostate cancer diagnostics and treatment is expected to restrict the market growth during the forecast period
The prostate cancer nuclear medicine diagnostics market majorly consists of the players such as Blue Earth Diagnostics Limited, ImaginAB, Curium, Jubilant Radiopharma, NCM-USA LLC, ABX Advanced Biochemical Compounds GmbH, Telix Pharmaceuticals Ltd., Novartis AG, Theragonostics, and Lantheus Medical Imaging Inc.
The global prostate cancer nuclear medicine diagnostics market based on type, is segmented into SPECT and PET. In 2021, PET segment held largest market share and the segment is estimated to grow at the fastest CAGR of 10.8% during the forecast period.
The global prostate cancer nuclear medicine diagnostics market on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and the South & Central America. In 2021, North American region held largest market share. However, Asia Pacific region is estimated to grow at the fastest CAGR of 11.2% during the forecast period
The List of Companies - Prostate Cancer Nuclear Medicine Diagnostics Market
- Blue Earth Diagnostics Limited
- ImaginAB
- Curium
- Jubilant Radiopharma
- NCM-USA LLC
- ABX Advanced Biochemical Compounds GmbH
- Telix Pharmaceuticals Ltd.
- Novartis AG
- Theragonostics
- Lantheus Medical Imaging 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.
Trends and growth analysis reports related to Prostate Cancer Nuclear Medicine Diagnostics Market
May 2022
Aquatic Veterinary Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Diagnostics and Treatments), Species (Fish, Crustaceans, Mollusca, and Others), Disease Source (Bacteria, Viruses, Parasites, and Others), Route of Administration (Water Medication, Medicated Feed, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2022
Sickle Cell Disease Treatment Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Treatment (Generic Drugs and Originators), Route of Administration (Oral and Parenteral), and Distribution Channel (Direct Tender, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others)
May 2022
Malaria and Sickle Cell Disease Treatment Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Treatment [Malaria and Sickle Cell Disease (SCD)], Route of Administration (Oral and Parenteral), and Distribution Channel (Direct Tender, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others)
May 2022
Pharmaceutical Contract Sales Organizations Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Services (Commercial Services and Non-Commercial Services), Modules (Syndicated Modules and Dedicated Modules), Therapeutic Area (Cardiovascular Disorders, Oncology, Metabolic Disorders, Neurology, Orthopedic Diseases, Infectious Diseases, and Others), End User (Biopharmaceutical Companies and Pharmaceutical Companies), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2022
Breast Cancer Therapeutics Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Drug Therapy [Targeted Drug Therapy (Abemaciclib, Ado-Trastuzumab Emtansine, Palbociclib, Trastuzumab, and Other Target Drug Therapies), Hormonal Drug Therapy (Selective Estrogen Receptor Modulators, Aromatase Inhibitors, and Selective Estrogen Receptor Downregulators), Chemotherapy, and Immunotherapy/Biological Therapy], Breast Cancer Type (Hormone Receptor, HER2+, and Triple-Negative Breast Cancer), Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, and Online Pharmacies), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2022
Radioactive Tracer Market
Size and Forecast to 2030 - Global Analysis by Tracer Type [Technetium-99m & Tc-97m, Iodine-131, Iron-59, Lutetium-171, Rubidium (Rb-82) Chloride & Ammonia (N-13), Scandium-46, Seaborgium-269, Hassium-269, Gallium Citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), Phosphorus-32 & Chromium-51, Thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and Others], Test Type (PET, SPECT, and Others), Application (Oncology, Pulmonary, Neurology, Cardiology, and Others) End User (Hospitals & Clinics, Diagnostic Centers, Academic & Research Institutes, And Others), and Geography
May 2022
Glioma Treatment Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Disease (Astrocytoma, Oligoastrocytoma, and Oligodendroglioma), Treatment Type (Surgery, Chemotherapy, Radiation Therapy, and Others), Grade (Low Grade and High Grade), End User (Hospital & Clinics and Ambulatory Surgical Center), and Geography
May 2022
Hyperpigmentation Disorder Treatment Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Treatment Type (Cosmeceutical, Light or Laser Therapy, Microdermabrasion, Chemical Peels, Cryotherapy, and Others), Condition (Melasma, Solar Lentigines, Post-Inflammatory Hyperpigmentation, and Others), End User (Hospitals, Dermatology Centers, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)