Report : Middle East & Africa 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 9.8% CAGR, the Middle East & Africa Prostate Cancer Nuclear Medicine Market is speculated to be worth US$ 62.49 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA prostate cancer nuclear medicine market was valued at US$ 35.66 million in 2022 and is expected to reach US$ 62.49 million by 2028, registering an annual growth rate of 9.8% from 2022 to 2028. Surging prevalence of prostate cancer and soaring demand for early and precise diagnosis of prostate cancer are the critical factors attributed to the market expansion.
Nuclear medicine is mostly used to diagnose cardiovascular disease and cancer. Since the nuclear medicine industry are saturated, a lot of companies and stakeholders are focusing on extending radiopharmaceutical uses in general. The demand and uptake of radiopharmaceuticals are projected to rise as their application areas grow, which would help businesses broaden their product lines and market share in neurological applications in the coming years. PET is a noninvasive nuclear imaging method utilized for cancer diagnosis, staging, and treatment monitoring. PET imaging is done by injecting a positron-tagged radiopharmaceutical into a patient, usually intravenously. Precise imaging may aid physicians in providing better treatment in the era of individualized cancer treatments. The use of modern imaging is growing rapidly as it helps get accurate local staging and early metastatic cancer discovery, accurate oligometastatic disease identification, and optimal therapy response assessment. Next-generation imaging modalities, such as whole-body MRI and molecular imaging with combined PET and CT, and PET and MRI combination employing innovative radiopharmaceuticals, provide new imaging options for patients suffering from advanced prostate cancer. This is expected to drive the market during the forecast period.
On the contrary, overpriced related to the prostate cancer diagnostics and treatment of prostate cancer nuclear medicine hurdles the growth of MEA prostate cancer nuclear medicine market.
Based on type, the MEA prostate cancer nuclear medicine market is divided into PET and SPECT. The PET segment held 56.0% market share in 2022, amassing US$ 19.96 million. It is projected to garner US$ 35.53 million by 2028 to expand at 10.1% CAGR during 2022–2028.
Based on PET Product, the MEA prostate cancer nuclear medicine market is categorized into F-18, C-11, and Ga68-PSMA. The F-18 segment held 57.3% market share in 2022, amassing US$ 20.44 million. It is projected to garner US$ 36.25 million by 2028 to expand at 10.0% CAGR during 2022–2028.
Based on end user, the MEA prostate cancer nuclear medicine market is categorized into hospitals, clinics, and others. The hospitals segment held 52.4% market share in 2022, amassing US$ 18.68 million. It is projected to garner US$ 33.27 million by 2028 to expand at 10.1% CAGR during 2022–2028
Based on country, the MEA prostate cancer nuclear medicine market has been categorised into the Saudi Arabia, UAE, South Africa, and Rest of MEA. Our regional analysis states that Saudi Arabia captured 27.4% market share in 2022. It was assessed at US$ 9.77 million in 2022 and is likely to hit US$ 17.80 million by 2028, exhibiting a CAGR of 10.5% during the forecast period.
Key players dominating the MEA prostate cancer nuclear medicine market are ImaginAb; Curium; ABX advanced biochemical compounds GmbH; Telix Pharmaceuticals Ltd; Novartis AG; and Lantheus Medical Imaging, Inc. among others.
- In May 2022, Lantheus Updated PSMA PET Imaging for Prostate Cancer According to the NCCN Guidelines.
- In Aug 2021, Telix releases details of two ancillary studies under the ProstACT program, including a Phase II study in collaboration with GenesisCare.
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