The US prostate cancer nuclear medicine diagnostics market size was USD 258.60 Million in 2022 and is likely to reach USD 645.59 Million by 2031, expanding at a CAGR of 10.7% during 2023–2031. The growth of the market is attributed to the increasing prevalence of prostate cancer and accurate diagnosis of the diseases.
When cells in the body begin to grow out of control, cancer develops. Cancer cells can develop in almost any organ of the body and spread to other parts of the body. Prostate cancer refers to a kind of cancer that affects the male reproductive system.
Prostate cancer is usually slow-growing and stable, though it can occasionally migrate from the prostate (gland) to other parts of the body, such as the bone and lymph node. Prostate cancer has no symptoms at first, but in extreme cases, it can cause pain when urinating and problems during sexual intercourse.
Nuclear medicine is a type of imaging that employs radioactive elements to diagnose and treat prostate cancer. It is a type of diagnostic imaging that aids radiologists in determining the cancer stage. If necessary, it can also be used as a therapy to promote survival, reduce discomfort, and enhance overall quality of life. Finally, if the patient requires therapy, nuclear medicine may be utilized to monitor the cancer's progress.
Radiotracer is a safe, small amount of radioactive element that is injected into your bloodstream, inhaled as a gas, or consumed orally. The radiotracer moves through the body, emitting gamma rays, and is taken up by various regions of the body, depending on the tissue's "affinity," or what sections of the body it is naturally drawn to.
Market Trends, Drivers, Restraints, and Opportunities
Increasing prevalence of prostate cancer and the growth of innovative radiopharmaceuticals are projected to drive the market growth during the forecast period.
Rising demand for preventive and accurate diagnosis of the diseases are projected to boost the market growth the forecast period.
Increasing adoption of Positron Emission Tomography (PET) imaging of prostate cancer because of its higher accuracy compared to other diagnostic methods is estimated to propel the market growth during the forecast period.
Favorable reimbursement policies and programs such as Medicaid, Medicare, and the Health Insurance programs in the US are expected to boost the market growth in the coming years.
High cost of test is anticipated to impede the market growth during the forecast period.
- Increased emphasis on R&D for development of innovative imaging agents is expected to offer lucrative opportunities for the market players.
Scope of US Prostate Cancer Nuclear Medicine Diagnostics Market Report
The report on the US prostate cancer nuclear medicine diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
US Prostate Cancer Nuclear Medicine Diagnostics Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Single-photon Emission Computerized Tomography and Positron Emission Tomography) and Products (Fluorine-18, Carbon-11, and Ga 68 PSMA)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Blue Earth Diagnostics, Inc.; PETNET Solutions, Inc.; Cardinal Health; Lantheus Medical Imaging; Jubilant Pharma Ltd. (Triad Isotopes, Inc.); NCM-USA LLC; Progenics Pharmaceuticals, Inc.; Telix Pharmaceuticals, Inc.; ImaginAb, Inc.; Theragnostics Ltd.; Novartis AG; and Alliance Medical Group
US Prostate Cancer Nuclear Medicine Diagnostics Market Segment Insights
Positron emission tomography segment is expected to account for a key share
Based on types, the US prostate cancer nuclear medicine diagnostics market is bifurcated into single-photon emission computed tomography (SPECT) and positron emission tomography (PET). The positron emission tomography segment is expected to account for a key share of the market during the forecast period due to its better image quality and higher reimbursement for its treatments than standard SPECT nuclear medicine diagnostic treatments.
Gallium-68, Fluorine-18, Zirconium-89, Copper-64, and Carbon-11 are radioisotopes used in PET prostate cancer diagnostics. F-18 FDG, Fluciclovine F 18, 18F-NaF, and C-11 have been approved by the US Food and Drug Administration for use in PET imaging for prostate cancer diagnosis, while other PET tracers are still in clinical trials.
On the other hand, the single-photon emission computed tomography segment is anticipated to expand at a rapid pace during the forecast period due to the low cost of scans and the ability to employ commonly obtainable radioisotopes with a longer life than PET.
Furthermore, the US market is expected to grow due to an increase in clinical research on SPECT radiopharmaceuticals to enable early detection of prostate cancer. For example, the first anti-PSMA tracer discovered to be beneficial for SPECT imaging was capromab pendetide labeled with Indium-111.
GA 68 PSMA segment is expected to constitute a large share
Based on products, the US prostate cancer nuclear medicine diagnostics market is segmented into Fluorine-18, Carbon-11, and GA 68 PSMA. The GA 68 PSMA segment is expected to constitute for a key share of the market during the forecast period due its higher accuracy and sensitivity. Prostate-specific Membrane Antigen (PSMA) expression is 100-1,000 times higher in prostate cancer, and the number grows as the tumor stage progresses.
New PSMA-targeting drugs are now in clinical trials and are projected to enter the market throughout the forecast period. In Phase III clinical studies, two distinct PSMA-PET imaging agents, 68Ga-PSMA-11 and 18F-DCFPyL, have been tested. By merging PET with MRI and CT, new technologies are being developed, and radioisotopes that are compatible with such integrated technology are being researched.
On the other hand, the Fluorine-18 segment is anticipated to expand at a rapid pace during the forecast period owing to its efficient bio-distribution and relatively low urinary excretion. Fluorine-18 flucicovine and Fludeoxyglucose F 18 (F-18 FDG) are certified radioisotopes, whereas F 18 sodium fluoride (18F-NaF) and 18F-Choline are PET tracers that have been extensively explored for their potential to identify cancers, including prostate cancer.
US market is anticipated to expand at an impressive CAGR
The US prostate cancer nuclear medicine diagnostics market is anticipated to expand at an impressive CAGR during the forecast period owing to increasing prevalence of the prostate cancer, changing lifestyle and favorable reimbursement policies. The presence of key global players and favorable regulatory policies in the country are major factors expected to accelerate the development of cancer therapies.
Several programs in the country such as[A1] Medicaid, Medicare, and the Health Insurance programs, are expected to provide growth prospects for market players. The Centers for Medicare & Medicaid Services (CMS), for example, covers PET services under the National Coverage Determination (NCD), which includes tracers required for prostate cancer diagnosis.
Presence of several major companies in the country which are developing novel diagnostic agents in order to improve diagnosis and provide patients with a more accurate imaging technique. All these factors are likely to boost the market growth during the forecast period.
The US prostate cancer nuclear medicine diagnostics market has been segmented on the basis of
- Single-photon Emission Computerized Tomography
- Positron Emission Tomography
- Ga 68 PSMA
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Blue Earth Diagnostics, Inc.
- PETNET Solutions, Inc.
- Cardinal Health
- Lantheus Medical Imaging
- Jubilant Pharma Ltd. (Triad Isotopes, Inc.)
- NCM-USA LLC
- Progenics Pharmaceuticals, Inc.
- Telix Pharmaceuticals, Inc.
- ImaginAb, Inc.
- Theragnostics Ltd.
- Novartis AG
- Alliance Medical Group
Key players competing in the US prostate cancer nuclear medicine diagnostics market are Blue Earth Diagnostics, Inc.; PETNET Solutions, Inc.; Cardinal Health; Lantheus Medical Imaging; Jubilant Pharma Ltd. (Triad Isotopes, Inc.); NCM-USA LLC; Progenics Pharmaceuticals, Inc.; Telix Pharmaceuticals, Inc.; ImaginAb, Inc.; Theragnostics Ltd.; Novartis AG; and Alliance Medical Group.
Some of the key business strategies employed by the companies in the market are mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For example, in February 2018, Cancer Targeted Technology Company granted Advanced Accelerator Applications a license to continue developing and commercializing CTT1057.