us prostate cancer nuclear medicine diagnostics Market

US prostate cancer nuclear medicine diagnostics market was valued at US$ 194.47 million in 2019 and is expected to grow at a CAGR of 10.6% from 2020 to 2027 to reach US$ 431.76 million by 2027.

Driving factors of the prostate cancer nuclear medicine diagnostics market are rising prevalence of prostate cancer, and the growth of innovative radiopharmaceuticals plays a vital role in the growth of the radiopharmaceuticals market. However, the restraints, such as strict guidelines for storage, production, & use of radiopharmaceuticals, are likely to negatively impact the growth of the market in the forecast period.

Prostate cancer (PCa) is the fourth common cancer across the US in terms of occurrence. The rising prevalence of prostate cancer in the country led to the increased use of nuclear medicines for its treatment. For instance, according to GLOBOCAN, in 2018, there were around 2,129,118 cases of cancer in the US. Among these cases, about 10% were prostate cancer, i.e., 212,783 incidences in 2018. Moreover, the country reported 28,705 deaths due to cancer. The organization has estimated the cases of prostate cancer to reach above 737,463 in the next five years. After skin cancer, prostate cancer is the most common cancer in the American male. As per the data of the American Cancer Society, 2020, it was estimated that prostate cancer would be around 191,930 and approximately 33,330 deaths from prostate cancer in the United States for 2020. Prostate cancer is more likely to grow in older adults. Prostate cancer needs to be examined before the additional treatment begins. And the nuclear medicines are adopted for the diagnosis and analysis ideas. Nuclear medicines in PET and SPECT are accepted for therapeutic and diagnostic prospects. Thus, owing to the rising incidences of prostate cancer poses numerous possibilities for prostate cancer nuclear medicine diagnostics market to increase throughout the forecasted period.

The US prostate cancer nuclear medicine diagnostics is segmented by type and PET product. Based on type, the prostate cancer nuclear medicine diagnostics market is segmented into PET and SPECT. The PET segment secured the largest share of the market in 2019. The segment is also forecasted to record the highest growth rate in the market during the forecast period. Based on PET product, the market is segmented into F-18, C-11, and Ga68-PSMA. The F-18 segment held the largest share of the market in 2019. However, Ga68-PSMA is estimated to register the highest CAGR in the market during the forecast period due to factors such as the rising prevalence of prostate cancer, technological improvements in diagnosis systems, and its higher sensitivity and accuracy.

Some of the major primary and secondary references included in the report are, Food and Drug Administration, World Health Organization (WHO), US Nuclear Regulatory Commission (NRC), American Cancer Society, Centers for Medicare and Medicaid Services, Center for Drug Evaluation and Research (CDER), among others.