Market Drivers of the Gallium-68 Market
The advancement of radiation technology has significantly transformed the landscape of diagnostic and nuclear medicine, as well as radiotherapy and interventional radiology. The utilization of ionizing radiation in both diagnosis and treatment has proven beneficial for millions of patients around the world. Positron emission tomography (PET) stands out as a widely employed nuclear medicine technique in clinical environments, facilitating the precise detection, localization, and characterization of various diseases. According to the World Health Organization (WHO), over 3.6 billion radiology-based diagnostic examinations, 37 million nuclear medicine procedures, and 7.5 million radiotherapy treatments are conducted globally each year. The European Commission reports that approximately 10 million nuclear medicine procedures utilizing radiopharmaceuticals and imaging technologies are performed annually in Europe for disease diagnosis and targeted treatment. These methodologies are also applied across various medical fields, including oncology, immunology, infection research, gastroenterology, cardiology, neurology, and psychiatry. The ongoing development and introduction of innovative radiopharmaceuticals for PET/CT, along with enhanced accuracy in tumor staging techniques, are key contributors to the growth of the gallium-68 market. For example, the recent introduction of prostate imaging radiopharmaceuticals like Ga-68 gozetotide has improved the precision of prostate cancer imaging.
Restraints of the Gallium-68 Market
The half-life of radiopharmaceuticals is influenced by several factors, including the half-life and radiochemical stability of the radioisotopes used, as well as the radionuclide impurity levels in the preparation. Many radiopharmaceuticals are composed of radioisotopes with very short half-lives. Specifically, gallium-68 must be utilized within 68 minutes post-preparation. The shelf-life of a multidose radiopharmaceutical after the first dose is withdrawn aseptically is contingent upon microbiological conditions. Typically, diagnostic radiopharmaceuticals with short shelf lives are prepared in hospital radiopharmacy departments immediately before administration to patients. The half-life of gallium-68, at 68 minutes, is significantly shorter than that of other radiopharmaceuticals, such as fluorine-18 (109.8 minutes) and technetium-99m (6 hours). Consequently, the limited lifespan of gallium-68 poses challenges for long-term procedures, which serves as a notable restraint on the growth of the gallium-68 market.
Opportunities in the Gallium-68 Market
Gallium-68 has emerged as a crucial component in the realm of theranostics, which integrates diagnostic testing with targeted therapeutic approaches. The combination of gallium-68 with therapeutic radiopharmaceuticals like lutetium-177 offers promising avenues for personalized cancer treatment and management. This dual functionality of gallium-68 as both a diagnostic and therapeutic agent aligns with the growing focus on personalized and precise cancer care. Therefore, the rising trends in theranostics and precision medicine are anticipated to create lucrative opportunities for the expansion of the gallium-68 market.
Gallium-68 Market: Segmental Overview
In 2022, the oncology segment dominated the gallium-68 market, and it is expected to exhibit the highest CAGR throughout the forecast period. This segment is further divided into subcategories, including prostate cancer, neuroendocrine tumors, and others.
The market is also segmented by end user, which includes hospitals, diagnostic and imaging centers, and other facilities. The hospitals segment accounted for the largest share of the gallium-68 market in 2022 and is projected to experience the highest growth rate during the forecast period.
Gallium-68 Market: Geographical Overview
The Asia Pacific region is anticipated to witness the highest CAGR from 2022 to 2030. Countries such as India and China present significant growth potential for the gallium-68 market. In contrast, North America held the largest market share in 2022. The field of nuclear medicine in the United States has advanced considerably due to innovations in technologies like hybrid imaging, the introduction of new radiopharmaceuticals for diagnosis and treatment, and the evolution of molecular imaging techniques based on the tracer principle. The availability of advanced healthcare infrastructure, the increasing incidence of prostate cancer, and product innovations from key industry players further bolster the growth of the gallium-68 market in North America. According to the International Agency for Research on Cancer (IARC), cancer cases in the US are projected to rise from 2.28 million in 2020 to 3.12 million by 2040. This surge in cancer cases is expected to drive demand for nuclear imaging, thereby supporting the progress of the gallium-68 market.
Sources
Key primary and secondary sources referenced in the preparation of the gallium-68 market report include the World Bank Data, National Health Service (NHS), FDA (Food and Drug Administration), EMA (European Medicines Agency), and WHO (World Health Organization).