The fluorine-18 market size is expected to grow from US$ 1.72 billion in 2022 to US$ 2.41 billion by 2030; it is anticipated to record a CAGR of 4.3% from 2022 to 2030.

Market Drivers of the Fluorine-18 Market

The high prevalence of chronic diseases such as neurological disorders, cardiovascular diseases (CVDs), and cancer boosts the demand for positron emission tomography (PET) diagnostic procedures, fueling the fluorine-18 market growth. According to the American College of Cardiology Foundation, the CVD-related death count increased from 12.4 million in 1990 to 19.8 million in 2022. Ischemic heart disease is the leading cause of CVD mortality across the world. As per the International Agency for Research on Cancer (IARC), the number of cancer cases is estimated to rise from ~19.3 million in 2020 to ~30.2 million by 2040. An accurate medical examination is a must for the effective treatment of chronic diseases, and some medical imaging procedures also include nuclear substances. Radiopharmaceuticals such as fluorine-18 and copper-64 are used in positron emission tomography (PET).

Restraint of the Fluorine-18 Market

The shelf-life of radiopharmaceuticals depends mainly on the half-life and radiochemical stability of radioisotopes and the radionuclide impurity content in the preparation. Most radiopharmaceutical preparations contain radioisotopes with very short half-lives. For example, fluorine-18 must be used within ~110 min of preparation. The shelf-life of a multidose radiopharmaceutical preparation after aseptic withdrawal of the first dose depends on microbiological considerations. In case of a short half-life of radionuclides, the diagnostic radiopharmaceuticals are usually prepared in the hospital radiopharmacy departments just before the administration to patients. The half-life of fluorine-18 is 109.8 minutes, and the preparation contains only ~1% fraction after 12 hours, which is less than the half-life of other radiopharmaceuticals such as technetium-99m (6 hours). Therefore, short-lived radiopharmaceuticals are becoming a matter of concern in long-term procedures, which is a major factor restraining the fluorine-18 market growth.

Opportunities in the Fluorine-18 Market

Increasing initiatives to research and develop radioactive tracers benefit the fluorine-18 market growth. The European Union Committee has taken various initiatives to boost R&D activities in the field of radioactive tracers and radioisotopes. The DOE Isotope Program (DOE IP) and its former organizations have been leading the development and production of radioactive and stable isotopes worldwide. Under the Atomic Energy Act of 1954, the DOE IP supplies isotopes and related services to the US, and it has the exclusive authority within DOE to produce isotopes for distribution and sales. The mission of the DOE IP is to conduct R&D to develop transformative isotope production, separation, and enrichment technologies to allow academic, federal, and industrial innovation, research, and emerging technologies. Further, many hospitals and research institutes focus on developing and using different radioactive tracers to diagnose chronic diseases. For example, Massachusetts General Hospital (MGH) is focused on using a new PET tracer [18F]3F4AP to diagnose multiple sclerosis, Alzheimer's disease, mild cognitive impairment, and traumatic brain injury. According to the National Library of Medicine, [18F]3F4AP is also used in Phase 1 clinical trials to diagnose multiple sclerosis, Alzheimer's disease, mild cognitive impairment, and traumatic brain injury. Thus, the ongoing research for discovering new radioactive tracers for diagnosing neurological disorders is further anticipated to fuel the fluorine-18 market growth in the coming years.

Fluorine-18 Market: Segmental Overview

The fluorine-18 market is segmented by product type into FDG, NaF, and others. The FDG segment held the largest fluorine-18 market share in 2022 and is anticipated to register the highest CAGR during the forecast period.

The fluorine-18 market, by application, is divided into oncology, cardiology, neurology, and others. The oncology segment held a larger market share in 2022 and is anticipated to register a higher CAGR during the forecast period.

The fluorine-18 market, by end users, is categorized into hospitals, diagnostic centers, and others. The hospitals segment held the largest market share in 2022 and is anticipated to register the highest CAGR during the forecast period.

Fluorine-18 Market: Geographical Overview

Asia Pacific is estimated to register the highest CAGR during 2022-2030. Countries in the Asia Pacific, such as India and China, hold significant potential for the growth of the fluorine-18s market. In 2022, North America held the largest market share. Nuclear medicine in the US has grown significantly owing to advancements in technologies such as hybrid imaging, the introduction of novel radiopharmaceuticals for diagnosis and treatment, and the development of molecular imaging techniques based on the tracer principle. Access to advanced healthcare infrastructure, the rising incidence and prevalence of target conditions, and product innovations by key players further contribute to the expansion of the fluorine-18 market size in North America. According to the International Agency for Research on Cancer (IARC), the number of cancer cases in the US is expected to increase from 2.28 million cases in 2020 to 3.12 million cases in 2040. Additionally, the Centers for Medicare & Medicaid Services (CMS), the US has adopted standards associated with human laboratory research under the Clinical Laboratory Improvement Amendments (CLIA), which favors the fluorine-18 market progress.

A few of the major primary and secondary sources referred to while preparing the report on the fluorine-18 market are the World Bank Data, National Health Service (NHS), FDA (Food and Drug Administration), EMA (European Medicines Agency), and WHO (World Health Organization).