US Prostate Cancer Nuclear Medicine Diagnostics Market to Witness Healthy Growth with a Significant Rise in Adoption of Pharmaceuticals Technology

Publisher: The Insight Partners

Prostate cancer is affecting the prostate glands in the male. Prostate cancer is a common cancer following skin cancer in the male. 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 also treat prostate cancer and helps radiologists to conclude the stage of cancer. US prostate cancer nuclear medicine diagnostics market is driven by factors such as the rising prevalence of prostate cancer, and the growth of innovative radiopharmaceuticals plays a vital role in the growth of the radiopharmaceuticals market. However, strict guidelines for storage, production, & use of radiopharmaceuticals is likely to obstruct the growth of the US prostate cancer nuclear medicine diagnostics market during the forecast period.

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Company Profiles

• Blue Earth Diagnostics Limited
• Progenics Pharmaceuticals, Inc.
• CURIUM
• Telix Pharmaceuticals Ltd.
• NCM-USA LLC
• ABX Advanced Biochemical Compounds GmbH
• Jubilant Radiopharma
• Lantheus Medical Imaging, Inc.
• Advanced Accelerator Applications (Novartis AG)
• Theragnostics

Market Insights

Rising Prevalence of Prostate Cancer

Prostate cancer (PCa) is the fourth common cancer across the US in terms of occurrence. The rising prevalence of prostate cancer in the country led to the increased use of nuclear medicines for its treatment. For instance, according to GLOBOCAN, in 2018, there were around 2,129,118 cases of cancer in the US. Among these cases, about 10% were prostate cancer, i.e., 212,783 incidences in 2018. Moreover, the country reported 28,705 deaths due to cancer. The organization has estimated the cases of prostate cancer to reach above 737,463 in the next five years. After skin cancer, prostate cancer is the most common cancer in the American male. As per the data of the American Cancer Society, 2020, it was estimated that prostate cancer would be around 191,930 and approximately 33,330 deaths from prostate cancer in the United States for 2020. Prostate cancer is more likely to grow in older adults. Almost 6 cases in 10 are identified in men who are 65 or more. The average age at identification is around 66 in men in the US. Prostate cancer needs to be examined before the additional treatment begins. And the nuclear medicines are adopted for the diagnosis and analysis ideas. Nuclear medicines in PET and SPECT are accepted for therapeutic and diagnostic prospects. Thus, owing to the rising incidences of prostate cancer poses numerous possibilities for prostate cancer nuclear medicine diagnostics market to increase throughout the forecasted period.

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Type Insights

Based on type, the US prostate cancer nuclear medicine diagnostics market is segmented into PET and SPECT. The PET segment held the largest share of the market in 2019 due to higher image quality and sophisticated reimbursement for the procedures as compared to the conventional SPECT nuclear medicine diagnostic processes. Radioisotopes used with PET prostate cancer diagnosis are Fluorine-18, Gallium-68, copper-64, zirconium-89, and Choline-11. Furthermore, the same segment is estimated to register the highest CAGR in the market during the forecast period.

PET Product Insights

The US prostate cancer nuclear medicine diagnostics market, by PET product, is segmented into F-18, C-11, and Ga68-PSMA. The F-18 segment held the largest share of the market in 2019. However, Ga68-PSMA is estimated to register the highest CAGR in the market during the forecast period due to factors such as the rising prevalence of prostate cancer, technological improvements in diagnosis systems using Ga68-PSMA, and its higher sensitivity and accuracy.

Strategic Insights

Product launches and FDA approvals strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is most commonly adopted by the market players in order to expand its product portfolio.

The market players operating in the US prostate cancer nuclear medicine diagnostics market adopt the strategy of collaborations to enlarge customer base across the world, which also permits the players to maintain their brand name.

US Prostate Cancer Nuclear Medicine Diagnostics Market – By Type

• PET
• SPECT

US Prostate Cancer Nuclear Medicine Diagnostics Market – By PET Product

• F-18
• C-11
• Ga68-PSMA 

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