Report : South America 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 9.4% CAGR, the South America Prostate Cancer Nuclear Medicine Market is speculated to be worth US$ 52.63 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM prostate cancer nuclear medicine market was valued at US$ 28.11 million in 2022 and is expected to reach US$ 52.63 million by 2028, registering an annual growth rate of 9.4% from 2022 to 2028. Rising prevalence of prostate cancer and surging demand for early and precise diagnosis of prostate cancer are the critical factors attributed to the market expansion.
Prostate cancer is a prevalent malignancy in men that remains a major health issue. In the clinical care of patients, imaging is critical. Prostate cancer imaging provides precise disease characterization through the synthesis of anatomic, functional, and molecular imaging information. Prostate cancer detection has increased due to advances in imaging technologies, such as magnetic resonance imaging (MRI) and positron emission tomography (PET)/computed tomography (CT). Lesion detection and local staging have improved due to MRI. Diffusion-weighted MRI, MR spectroscopy, and dynamic contrast-enhanced MRI are among the MRI techniques used to assess function. Conventional imaging options, such as computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound, are used for prostate cancer patients to detect organ-confined or metastatic disease for staging and prognosis. However, the use of imaging for assessing tumor grade, staging, finding minimal metastatic disease, and separating fatal from a nonlethal disease needs to be improved. Hybrid imaging approaches for diagnosis use complementary structural and morphological data to improve imaging resolution and sensitivity. This is expected to drive the market during the forecast period.
On the contrary, high price related to the prostate cancer diagnostics and treatment of prostate cancer nuclear medicine hurdles the growth of SAM prostate cancer nuclear medicine market.
Based on type, the SAM prostate cancer nuclear medicine market is divided into PET and SPECT. The PET segment held 56.5% market share in 2022, amassing US$ 17.32 million. It is projected to garner US$ 30.22 million by 2028 to expand at 9.7% CAGR during 2022–2028.
Based on PET Product, the SAM prostate cancer nuclear medicine market is categorized into F-18, C-11, and Ga68-PSMA. The F-18 segment held 57.7% market share in 2022, amassing US$ 17.69 million. It is projected to garner US$ 30.75 million by 2028 to expand at 9.6% CAGR during 2022–2028.
Based on end user, the SAM prostate cancer nuclear medicine market is categorized into hospitals, clinics, and others. The hospitals segment held 52.4% market share in 2022, amassing US$ 16.05 million. It is projected to garner US$ 28.04 million by 2028 to expand at 9.7% CAGR during 2022–2028
Based on country, the SAM prostate cancer nuclear medicine market has been categorised into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 72.7% market share in 2022. It was assessed at US$ 22.26 million in 2022 and is likely to hit US$ 52.63 million by 2028, exhibiting a CAGR of 9.4% during the forecast period.
Key players dominating the SAM 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, Novartis Pluvicto approved by FDA for treatment of progressive, PSMA positive metastatic castration-resistant prostate cancer.
- In Dec 2019, Curium Acquired Finnish Radiopharmaceuticals Company MAP Medical Technologies Oy.
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