At 10.6% CAGR, the Middle East & Africa Radioactive Tracer Market is Projected to be worth US$ 602.69 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa radioactive tracer market was valued at US$ 268.57 million in 2022 and is expected to reach US$ 602.69 million by 2030, registering a CAGR of 10.6% from 2022 to 2030. Rising prevalence of chronic diseases and increasing use of nuclear imaging techniques are the critical factors attributed to the Middle East & Africa radioactive tracer market expansion.             

One of the primary opportunities within the radioactive trace market in Europe lies in the healthcare and diagnostics sector. The emerging economies of region such as Hungary, Poland, and Romania, are experiencing high growth and development in their healthcare infrastructure. The region’s vast and rapidly growing population, coupled with and increasing focus on healthcare infrastructure development, makes it a fertile ground for the application of radioactive tracers. According to CABI estimates, cancer is currently one of the leading causes of mortality in the Middle East and North Africa (MENA). Still, the burden of new cases in the region is expected to nearly quadruple by 2030. Additionally, cardiovascular disease is the foremost cause of mortality in the MENA region, accounting for more than one-third of all fatalities, or 1.4 million people per year, according to the World Heart Federation. Furthermore, a notable increase trend in the point prevalence of Parkinson's condition has been documented in MENA during the previous three decades, indicating that the condition will continue to be a growing challenge for public health. Radioactive tracers play a significant role in diagnostic imaging techniques such as Positron Emission Tomography (PET) and single Phonton Emission Computed Tomography (SPECT).

As African countries advance their healthcare systems, there is rising demand for precise and early disease detection. Radioactive tracers, which allow for the visualization of molecular and cellular processes within the body, are instrumental in detecting various medical conditions, including cancer, cardiovascular diseases, and neurological disorders. They offer the advantage of early diagnosis and staging, leading to more effective treatment and improved patient outcomes.

Moreover, the increasing awareness among both healthcare professionals and the general public about the benefits of nuclear medicine and molecular imaging is driving the demand for radioactive tracers. This trend is further supported by a growing middle-class population with greater access to healthcare services. Thus, the radioactive tracer market in “region’s name” is poised to experience substantial growth as it becomes an integral component of advanced medical diagnostics and patient care.  

On the contrary, short shelf-life of radioactive tracer hurdles the growth of Middle East & Africa radioactive tracer market. 

Based on tracer type, the Middle East & Africa radioactive tracer market is categorized into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held 61.1% market share in 2022, amassing US$ 164.19 million. It is projected to garner US$ 347.46 million by 2030 to expand at 9.8% CAGR during 2022–2030.

Based on test type, the Middle East & Africa radioactive tracer market is categorized into PET, SPECT, and others. The SPECT segment held 44.4% share of Middle East & Africa radioactive tracer market in 2022, amassing US$ 119.36 million. It is projected to garner US$ 264.47 million by 2030 to expand at 10.5% CAGR during 2022–2030.

Based on end user, the Middle East & Africa radioactive tracer market is categorized into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held 70.2% share of Middle East & Africa radioactive tracer market in 2022, amassing US$ 188.56 million. It is projected to garner US$ 423.63 million by 2030 to expand at 10.6% CAGR during 2022–2030.

Based on application, the Middle East & Africa radioactive tracer market is categorized into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held 60.6% share of Middle East & Africa radioactive tracer market in 2022, amassing US$ 162.75 million. It is projected to garner US$ 355.08 million by 2030 to expand at 10.2% CAGR during 2022–2030.

Based on country, the Middle East & Africa radioactive tracer market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa.  Our regional analysis states that Saudi Arabia captured 34.0% share of Middle East & Africa radioactive tracer market in 2022. It was assessed at US$ 91.18 million in 2022 and is likely to hit US$ 199.79 million by 2030, exhibiting a CAGR of 10.3% during 2022–2030.            

Key players operating in the Middle East & Africa radioactive tracer market are Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, General Electric Co, and IBA Radiopharma Solutions, among others.

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