Prostate Cancer Nuclear Medicine Diagnostics Market to Hit

New York, July 25. Feb. 2, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Prostate Cancer Nuclear Medicine Diagnostics Market Forecast to 2028 – Impact of COVID-19 and Global Analysis – by Type (PET and SPECT), PET Product (F-18, C-11 and Ga68-PSMA), End User (Hospitals, Clinics and Others) and Geography “, factors such as the increasing prevalence of prostate cancer and growing demand for early and accurate diagnosis of prostate cancer are driving the growth of the market.

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Prostate Cancer Nuclear Medicine Diagnostics Market Report Scope and Strategic Outlook:

Report cover Details
Market size Value in $720.12 million in 2022
Market Size Value by $1,315.66 million by 2028
Rate of growth CAGR of 10.6% from 2022 to 2028.
Forecast period 2022- 2028
Year of reference 2022
Number of pages 180
Number of tables 84
Number of graphs and figures 74
Historical data available Yes
Segments Covered Type, PET product and end user
Regional scope North America; Europe; Asia Pacific; Latin America; AEM
Country scope United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report cover Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Prostate Cancer Nuclear Medicine Diagnostics Market: Competitive Landscape and Key Developments

Curium, Telix Pharmaceuticals Ltd, ImaginAb Inc., and Jubilant Pharma have implemented various inorganic strategies such as partnerships and collaborations that have brought dynamic improvements in the prostate cancer nuclear medicine diagnostics market. Companies are also adopting organic strategies such as product launches and expansions. These growth strategies have helped market players expand their businesses and strengthen their geographical presence. Moreover, acquisitions and partnerships help market players to strengthen their customer base and expand their product portfolio.

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In April 2022, Telix announced a partnership with Avanço and THP to distribute Telix’s experimental prostate cancer imaging product for the Portuguese and Austrian, Czech Republic and Slovak Republic markets.

In December 2021, Telix entered into a commercial distribution agreement with the Madrid-based company NUCLIBER SA (NUCLIBER) for Telix’s experimental prostate cancer imaging product, Illuccix (TLX591-CDx, Kit for the preparation of injection of 68Ga-PSMA-11) for the Spanish market.

In June 2021, Curium completed the acquisition of Austrian radiopharmaceutical company IASON, further expanding its presence in Europe for its broad portfolio of life-saving diagnostic solutions.

In November 2020, Jubilant Radiopharma and SOFIE Biosciences Ink Strategic Partnership signed an agreement to further advance in the field of molecular imaging and therapeutics. Under the terms of the partnership, Jubilant Pharma, through one of its wholly owned subsidiaries, was a strategic partner of SOFIE, enabling SOFIE to continue to expand its production capacity, advance its theranostic pipeline and to support the manufacture and distribution of new PET diagnostics in the US.

In March 2020, ImaginAb announced the licensing and supply agreement for CD8 ImmunoPET technology with AstraZeneca. AstraZeneca’s clinical trials in North America and Europe will leverage ImaginAb’s CD8 ImmunoPET technology to facilitate the clinical development of AstraZeneca’s novel immunotherapies and expand the therapeutic utility of ImaginAb’s CD8 ImmunoPET.

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Prostate Cancer Nuclear Medicine Diagnostics Market: Key Insights – Impact of COVID-19 Pandemic

COVID-19 outbreak has provided lucrative opportunities for players operating in the Prostate Cancer Nuclear Medicine Diagnostics market. Various people across North America have been affected by the pandemic. The United States was among the hardest hit in the region. The infection severely affected the geriatric population of the country, causing various complications, leading to the death of a large part of the population. For example, through May 16, 2022, the United States has reported 84,230,829 cases of COVID with 1,026,670 deaths.

Apart from this, chronic or non-healing wounds are mostly seen in older people and take longer to heal. Therefore, nuclear medicine diagnostics of prostate cancer and proper care are needed to prevent chronic cases of infection and health problems.

Additionally, due to the COVID-19 outbreak, various hospitals have been engaged in treating those affected. The COVID-19 outbreak has led to a significant drop in cancer screening. However, the epidemic has resulted in a total lack of testing in the United States. COVID-19-related delays in cancer screenings are believed to be causing an additional number of additional deaths directly linked to the outbreak. Prostate biopsy and CP diagnosis rates have dropped during the COVID-19 pandemic, especially during the peak of the outbreak.

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Additionally, prior to the pandemic, imaging services in Europe, primarily the UK, suffered from chronic underinvestment with a lack of imaging acquisition and reporting capacity. For example, this was linked to a major shortage of labor and equipment. But with the new IPC measures, the particular social distancing of 2m in all healthcare facilities, these shortages have reached CT capacity at the time of writing around 40-70% of pre-COVID levels. In addition, the MRI is slightly better, accounting for 80%. Additionally, imaging departments are working hard to regain momentum by restoring capacity and restoring patient confidence. It remains clear that fundamental changes can only be made with significant investment to address the chronic underfunding of radiologists, radiographers and imaging equipment.

Prostate Cancer Nuclear Medicine Diagnostics Market: Segmental Overview

On the basis of type, the prostate cancer nuclear medicine diagnostics market is segmented into SPECT and PET. The PET segment is expected to hold the largest market share in 2021. Moreover, the same segment is expected to register the highest CAGR in the market during the forecast period. The adoption of PET as a diagnostic tool is increasing significantly, as it offers greater accuracy than other diagnostic techniques. The accuracy of the diagnosis has a direct impact on the decision-making and treatment follow-up processes. The growing demand for these diagnostic procedures is expected to propel the prostate cancer nuclear medicine diagnostic market over the forecast period.

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Cycle through adjacent reports:

Prostate Cancer Diagnostics Market Forecast to 2028 – Impact of Covid-19 and global analysis – by type (preliminary tests and confirmatory tests)

Prostate Cancer Vaccine Market Forecast to 2028 – Impact of COVID-19 and global analysis by type (tablet, injection); End user (hospital, clinic, others)

Castration Resistant Prostate Cancer HRPCA Therapeutics Market Forecasts until 2028 – Impact of Covid-19 and global analysis – by therapy (hormone therapy, chemotherapy, immunotherapy, radiotherapy); Administration of drugs (oral, injectable.)

Minimally Invasive Prostate Cancer Surgery Market Forecast to 2028 – Impact of Covid-19 and global analysis – by procedure (laparoscopic prostatectomy, brachytherapy, cryosurgery, others); Stages of disease progression (stage A, stage B, stage C, stage D); End user (hospitals and clinics, diagnostic centers, others) and geography

Prostate Cancer Therapeutics Market Forecasts until 2028 – Impact of Covid-19 and global analysis – By therapy (hormone therapy, chemotherapy, targeted therapy, immunotherapy); Distribution channel (hospitals, specialized clinics, others)

Prostate Cancer Diagnostics Market Forecast to 2028 – Impact of Covid-19 and global analysis – by type (preliminary tests and confirmatory tests)

SPECT Equipment Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Type [Hybrid SPECT (SPECT-MR and SPECT- CT) and Standalone SPECT]type of radioisotope (iodine-123, technetium-99m, xenon-133, thallium-201, radium-223, gallium-66 and others), application (seizures, stroke, stress fractures, infections, tumors and others ), and End User (hospitals, imaging centers and others)

Nuclear Medicine Equipment Market Forecasts to 2028 – Impact of COVID-19 and global analysis by product (single photon emission tomography (SPECT), planar scintigraphy and positron emission tomography (PET)); Application (oncology, cardiology, neurology and other applications); End user (hospitals, imaging centers and academic and research centers) and geography

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