January 13, 2021 — The "US Prostate Cancer Nuclear Medicine Diagnostics Market to 2027 - Country Analysis and Forecast by Type; PET Product" report has been added to ResearchAndMarkets.com's offering. The prostate cancer nuclear medicine diagnostics market in the US was valued at $194.47M in 2019 and is expected to grow at a CAGR of 10.6% from 2020 to 2027 to reach $431.76M by 2027.
Driving factors of the prostate cancer nuclear medicine diagnostics market are the rising prevalence of prostate cancer and the growth of innovative radiopharmaceuticals. However, factors such as strict guidelines for storage, production, and use of radiopharmaceuticals are likely to restrain the growth of the market during the forecast period.
Prostate cancer (PCa) is the fourth common cancer across the U.S. 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 ~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 5 years. After skin cancer, prostate cancer is the most common cancer in the American male population. As per the data of the American Cancer Society, 2020, it was estimated that prostate cancer would be about 191,930 and can result in deaths of ~33,330 people from prostate cancer in the US in 2020. Prostate cancer is more likely to grow in older adults. Thus, the rising incidences of prostate cancer offer huge growth opportunities for the prostate cancer nuclear medicine diagnostics market during the forecast period.
The prostate cancer nuclear medicine diagnostics market in the US is segmented into type and PET product. Based on type, the market is further 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. Based on PET product, the market is further 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 rising prevalence of prostate cancer, technological improvements in diagnosis systems, and its higher sensitivity and accuracy.
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