Report : Europe Prostate Cancer Nuclear Medicine Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (PET and SPECT), PET Product (F-18, C-11, and Ga68-PSMA), and End User (Hospitals, Clinics, and Others)
At 10.8% CAGR, the Europe Prostate Cancer Nuclear Medicine Market is speculated to be worth US$ 262.34 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe prostate cancer nuclear medicine market was valued at US$ 141.43 million in 2022 and is expected to reach US$ 262.34 million by 2028, registering an annual growth rate of 10.8% from 2022 to 2028. Growing prevalence of prostate cancer and increasing demand for early and precise diagnosis of prostate cancer are the critical factors attributed to the market expansion.
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. Also, a digital rectal exam (DRE) is another approach to detect 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. Therefore, an early and precise diagnosis of prostate cancer bolsters the growth of the prostate cancer nuclear medicine diagnostics market. This is expected to drive the market during the forecast period.
On the contrary, rising cost related to the prostate cancer diagnostics and treatment of prostate cancer nuclear medicine hurdles the growth of Europe prostate cancer nuclear medicine market.
Based on type, the Europe prostate cancer nuclear medicine market is divided into PET and SPECT. The PET segment held 55.4% market share in 2022, amassing US$ 78.38 million. It is projected to garner US$ 147.67 million by 2028 to expand at 11.1% CAGR during 2022–2028.
Based on PET Product, the Europe prostate cancer nuclear medicine market is categorized into F-18, C-11, and Ga68-PSMA. The F-18 segment held 56.9% market share in 2022, amassing US$ 80.47 million. It is projected to garner US$ 151.04 million by 2028 to expand at 11.1% CAGR during 2022–2028.
Based on end user, the Europe prostate cancer nuclear medicine market is categorized into hospitals, clinics, and others. The hospitals segment held 52.0% market share in 2022, amassing US$ 73.54 million. It is projected to garner US$ 138.65 million by 2028 to expand at 11.1% CAGR during 2022–2028
Based on country, the Europe prostate cancer nuclear medicine market has been categorised into the Germany, UK, France, Italy, Spain, and Rest of Europe. Our regional analysis states that Germany captured 21.8% market share in 2022. It was assessed at US$ 30.77 million in 2022 and is likely to hit US$ 61.07 million by 2028, exhibiting a CAGR of 12.1% during the forecast period.
Key players dominating the Europe prostate cancer nuclear medicine market are Blue Earth Diagnostics Limited; ImaginAb; Curium; Jubilant Radiopharma; ABX advanced biochemical compounds GmbH; Telix Pharmaceuticals Ltd; Novartis AG; Theragnostics; and Lantheus Medical Imaging, Inc. among others.
- In Jan 2019, Progenics and Curium announced European Collaboration for Prostate Cancer Imaging Agent PyL.
- In Dec 2019, Curium Acquired Finnish Radiopharmaceuticals Company MAP Medical Technologies Oy.
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