Global Prostate Cancer Nuclear Medicine Diagnostics Market – Industry Trends and Forecast to 2029

 Prostate Cancer Nuclear Medicine Diagnostics Market Analysis and Size

Nuclear medicines are widely used in the radiopharmaceuticals applications which are used in cancer treatment and bone metastases. When they compared to X-rays and other external radiographic imaging devices, it is not only useful for doctors' diagnosis but also a convenient and safe alternative for patients. Nuclear medicine used in diagnostic procedures includes F-18, Tc-99, Ga-67, and I-123, while treatment procedures include I-131, Ir-192, Y-90, I-125, and Lu-177.

Data Bridge Market Research analyses that the prostate cancer nuclear medicine diagnostics market which was USD 389.14 million in 2021, is expected to reach USD 1024.35 million by 2029, at a CAGR of 11.7% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Prostate Cancer Nuclear Medicine Diagnostics Market Scope and Segmentation  

Market Definition

Prostate cancer affects the prostate glands in men. Prostate cancer is the second most common cancer in men after skin cancer. Family history, advanced age, and race are all common risk factors for prostate cancer. Nuclear medicine is imaging that requires radioactive materials. It is an effective method for detecting and treating prostate cancer and it assists radiologists in determining the stage of the disease. Prostate cancer nuclear medicine diagnostics is a useful method to detect and treat prostate cancer and helps radiologists to figure out the stage of cancer.

Global Prostate Cancer Nuclear Medicine Diagnostics Market Dynamics

Drivers

• Surging demand for early and precise diagnosis of prostate cancer 

An increase in PSA levels raises the risk of prostate cancer. PSA concentrations in the blood are measured in nanograms per millilitre (ng/mL). There is no clear cut-off point for determining whether a man has prostate cancer or not. Many doctors use a PSA cut-off of 4 ng/mL or higher when determining whether a man requires further testing, while others may be starting at a lower level, such as 2.5 or 3. As a result, measuring PSA levels in a man's blood can help detect prostate cancer early. These are the certain factors which propel the growth of the market.

• Increasing demand for positron emission tomography

Positron emission tomography is increasingly being used as a diagnostic tool because it is more accurate than other diagnostic techniques. The accuracy of diagnosis has a direct impact on decision-making and treatment monitoring processes. Increasing demand for these diagnostic procedures is expected to drive the growth of the prostate cancer nuclear medicine diagnostics market during the forecast period. Reimbursement policies are expected to accelerate the development of nuclear medicine diagnostics.

Opportunities

• Government initiatives bolstering growth and awareness

Several programs in the United States, such as Medicaid, Medicare, and Health Insurance, are expected to create growth opportunities for market participants. For instance, the Centers for Medicare & Medicaid Services (CMS) covers positron emission tomography services through the National Coverage Determination (NCD), which includes tracers required for prostate cancer diagnosis. As a result of these factors, positron emission tomography is expected to have the largest market share.

Restraints/Challenges

• High cost of prostate cancer

High cost of prostate cancer nuclear medicine diagnostics and the low adoption rate in emerging and underdeveloped countries will obstruct the market's growth rate. There are health risks, because radiation is a side effect of nuclear medicine, prolonged exposure to it can cause health problems. This is especially true for infants, toddlers, elderly and pregnant women.

This prostate cancer nuclear medicine diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the prostate cancer nuclear medicine diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent developments

• In April 2022, Telix announced that Illuccix (kit for the preparation of gallium Ga 68 gozetotide), also known as 68Ga-PSMA-11 injection, will be commercially available in the United States.
• In March 2022, Novartis announced that the FDA had approved Pluvicto (lutetium Lu 177 vipivotide tetraxetan) (formerly known as 177Lu-PSMA-617) for the treatment of adult patients with PSMA-positive metastatic castration-resistant prostate cancer (mCRPC) that has spread to other parts of the body (metastatic).

Global Prostate Cancer Nuclear Medicine Diagnostics Market Scope

The prostate cancer nuclear medicine diagnostics market is segmented on the basis of product, type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market.

Type

• Single Photon Emission Computed Tomography (SPECT)
• Photon Emission Computed Tomography (PET)

Product

• F-18
• C11
• GA 68 PSMA

 Application

• Hospitals
• Clinics
• Others

Prostate Cancer Nuclear Medicine Diagnostics Market Regional Analysis/Insights

The prostate cancer nuclear medicine diagnostics market is analysed and market size insights and trends are provided by country, product, type and application as referenced above.

The countries covered in the prostate cancer nuclear medicine diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the prostate cancer nuclear medicine diagnostics market due to improved healthcare infrastructure in the region.  

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the growing incidence of cancer such as bladder, esophagus, liver, pancreas, and others, high presence of major manufacturers across the U.S. Furthermore, technological advancements and rising foreign investment.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The prostate cancer nuclear medicine diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for prostate cancer nuclear medicine diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the prostate cancer nuclear medicine diagnostics market. The data is available for historic period 2010-2020.

Competitive Landscape and Prostate Cancer Nuclear Medicine Diagnostics Market Share Analysis

The prostate cancer nuclear medicine diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to prostate cancer nuclear medicine diagnostics market.

Some of the major players operating in the prostate cancer nuclear medicine diagnostics market are:

• Blue Earth Diagnostics (U.K.)
• Lantheus (U.S.)
• Theragnostics Ltd (U.K.)
• Jubilant Pharma Limited (U.S.)
• NCM-USA LLC (U.S.)
• Telix Pharmaceuticals Ltd (Australia)
• Cardinal Health (U.S.)
• General Electric (U.S.)
• Lantheus (U.S.)
• Bayer AG (Germany)
• Bracco Diagnostic Inc. (Italy)
• NorthStar Medical Radioisotopes, LLC (U.S.)
• Eckert & Ziegler. (Germany)
• Jubilant DraxImage, Inc. (Canada)
• PharmaLogic Holdings Corp. (U.S.)
• Institute of Isotopes Co., Ltd (Hungary)
• SHINE Medical Technologies, LLC (U.S.)
• Global Medical Solutions LLC (China)

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