The Insight Partners Latest Research for Report “Prostate Cancer Nuclear Medicine Diagnostics Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Type (PET and SPECT), PET Product (F-18, C-11, and Ga68-PSMA), and End User (Hospitals, Clinics and Others)
“Prostate Cancer Nuclear Medicine Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, PET Product, and End User,” the market is expected to grow from US$ 720.12 million in 2022 to US$ 1,315.66 million by 2028. It is estimated to grow at a CAGR of 10.6% from 2022 to 2028.
Download PDF Sample Copy at:
The rising prevalence of prostate cancer and the surging demand for early and precise diagnosis of prostate cancer. However, high cost related to prostate cancer diagnostics and treatment is expected to restrict the market growth during the forecast period.
COVID-19 pandemic placed significant challenges on healthcare systems, whether in the preparation, response, or recovery phase of the pandemic. This has been primarily managed by reducing in-and out-patient services for diseases and implementing infection prevention and control measures. As per a September 2020 published article, titled “Global Impact of COVID-19 on Nuclear Medicine Departments, an International Survey in April 2020,” both diagnostic and therapeutic nuclear medicine procedures declined sharply to a similar degree in countries affected by the pandemic.
According to the same source, countries, such as South Korea and Singapore reported a less pronounced impact on nuclear medicine services. However, the overall study results showed that nuclear medicine services worldwide had an adverse effect on the procedures. 15% of respondents experienced COVID-19 infections within their departments regarding staff health. Further, the growth of the nuclear medicine radioisotopes market is mainly attributed to the rising prevalence of cancer, the widening applications of nuclear medicine, increasing SPECT and PET applications, and increasing patient awareness of radiation and radiation therapy.
Additionally, before the pandemic, imaging services in Europe, mainly the UK, suffered from chronic underinvestment with a lack of imaging acquisition and reporting capacity. For example, this was related to a significant workforce and equipment shortage. But with new IPC measures, the particular social distancing of 2m in all healthcare settings, these shortages have met CT capacity at the time of writing about 40-70% of pre-COVID levels. Also, MRI is slightly better, accounting for 80%. Further, the imaging services are working hard to regain momentum by restoring capacity and recovering patient confidence. It remains clear that fundamental changes can only be made with significant investment for addressing the chronic underfunding of radiologists, radiographers, and imaging equipment.
Have a Call with Analyst:
Segments – By Type
Based on type, the prostate cancer nuclear medicine diagnostics market is bifurcated into SPECT and PET. The PET segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR during the forecast period. A Positron Emission Tomography (PET) scan is usually the most effective way to restage recurrent prostate cancer. After prostate cancer treatment, PET scanning may be used to determine the effectiveness of the treatment and is now commonly being used to detect biochemically recurrent prostate cancer for restaging.
- Blue Earth Diagnostics Limited
- Jubilant Radiopharma
- NCM-USA LLC
- ABX Advanced Biochemical Compounds GmbH
- Telix Pharmaceuticals Ltd.
- Novartis AG
- Lantheus Medical Imaging Inc
Buy Report at:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi