Gallium-68 is a positron-emitting radioisotope used in medical diagnostic procedures. It is produced from germanium-68/gallium-68 (68Ge/68Ga) generator and a half-life of 68 minutes. An increase in the prevalence of prostate cancer and neuroendocrine tumors, and an upsurge in the use of nuclear imaging techniques are among the major factors propelling the gallium-68 market growth. However, the short shelf-life of gallium-68 impedes the growth of the market. Further, the use of radioactive tracers in cancer diagnosis is expected to bring new gallium-68 market trends in the coming years.
The high prevalence of prostate cancer and neuroendocrine tumors results in an elevated demand for positron emission tomography (PET) diagnostic procedures. According to the Mayo Foundation for Medical Education and Research (MFMER), neuroendocrine tumors develop from malignant growth of neuroendocrine cells. Gallium-68 (Ga-68) is used for the radiolabeling of radioactive diagnostic agents to locate somatostatin receptor-positive neuroendocrine tumors in adults and children via PET. According to Cancer Research UK, more than 4,000 people are diagnosed with a neuroendocrine tumor each year in the UK. ~50% of neuroendocrine tumors start in the digestive system (stomach, small and large bowel, pancreas, and rectum), and ~20% start in the lungs. As per the American Society of Clinical Oncology (ASCO), nearly 12,000 people in the US are diagnosed with a neuroendocrine tumor every year, and an estimated 171,000 people live with this diagnosis.
Ga-68 is majorly used to detect cancer cells in the human body. For instance, the Ga-68 PSMA-11 PET-scan imaging agent is widely used to detect prostate cancer cells. According to the World Cancer Research Fund (WCRF) International, more than 1.4 million new cases of prostate cancer were reported in 2020. Similarly, As per the International Agency for Research on Cancer (IARC), the number of prostate cancer cases is estimated to rise from ~1.47 million in 2022 to ~1.83 million by 2030 and ~2.88 million by 2050. Thus, prostate cancer and neuroendocrine tumors require an accurate medical diagnosis with Ga-68-based PET, which helps to improve tumor detection and facilitates effective treatment planning. Therefore, the increasing prevalence of these conditions bolsters the gallium-68 market size.
The gallium-68 market analysis has been carried out by considering the following segments: application and end user. By application, the market is segmented into oncology, neurology, cardiology, and others. The oncology segment held the largest gallium-68 market share in 2022 and is anticipated to register the highest CAGR during the forecast period. The market for the oncology segment is subsegmented into prostate cancer, neuroendocrine tumors, and others.
The market, by end user, is categorized into hospitals, diagnostic and imaging centers, and others. The hospitals segment held the largest gallium-68 market share in 2022. Further, the same segment is anticipated to register the highest CAGR during the forecast period.
The geographic scope of the gallium-68 market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest market share. 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 significantly contribute to the progress of nuclear medicine in the US. Access to advanced healthcare infrastructure, the rising incidence and prevalence of prostate cancer, and product innovations by key players further contribute to the expansion of the gallium-68 market in North America. According to the International Agency for Research on Cancer (IARC), the cancer patient count in the US is expected to increase from 2.28 million cases in 2020 to 3.12 million cases by 2040. Thus, the increasing cancer cases are expected to boost demand for nuclear imaging, which favors the gallium-68 market progress.
A few strategic developments (as per company press releases) by leading players operating in the gallium-68 market are listed below:
The regional trends and factors influencing the Gallium-68 Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Gallium-68 Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 782.36 Million |
| Market Size by 2030 | US$ 1,070.34 Million |
| Global CAGR (2022 - 2030) | 4.0% |
| Historical Data | 2020-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Gallium-68 Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Gallium-68 Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
Novartis AG, Telix Pharmaceuticals (US) Inc, IRE-ELiT SA, ITM Medical Isotopes GmbH, Eckert & Ziegler Radiopharma GmbH, ARTMS Inc, IBA Radiopharma Solutions, Cardinal Health, Rosatom, and Evergreen Theragnostics Inc are among the prominent companies profiled in the gallium-68 market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
The List of Companies - Gallium-68 Market
The market, by end user, is categorized into hospitals, diagnostic and imaging centers, and others. The hospitals segment held the largest gallium-68 market share in 2022 and it is anticipated to register the highest CAGR during the forecast period.
The gallium-68 market is expected to be valued at US$ 1.070.34 million in 2030.
By application, the market is segmented into oncology, neurology, cardiology, and others. The oncology segment held the largest gallium-68 market share in 2022 and it is anticipated to register the highest CAGR during the forecast period. Based on oncology the market is subsegmented into prostate cancer, neuroendocrine tumors, and others.
The gallium-68 market was valued at US$ 782.36 million in 2022.
The gallium-68 market majorly consists of the players, including Novartis AG, Telix Pharmaceuticals (US) Inc, IRE-ELiT SA, ITM Medical Isotopes GmbH, Eckert & Ziegler Radiopharma GmbH, ARTMS Inc, IBA Radiopharma Solutions, Cardinal Health, Rosatom, and Evergreen Theragnostics Inc.
Gallium-68 is a positron-emitting radioisotope used in medical diagnostic procedures produced from germanium-68/gallium-68 (68Ge/68Ga) generator. Gallium-68 has good positron-emitting properties and a half-life of 68 min.
Factors such as increase in the prevalence of prostate cancer and neuroendocrine tumors and the increasing use of nuclear imaging techniques propel the gallium-68 market growth.