Gallium-68 Market Forecast to 2030 | Size, Share, Growth

[Research Report] The gallium-68 market forecast can help stakeholders in this marketplace outline their growth strategies. The market is projected to grow from US$ 782.36 million in 2022 to US$ 1,070.34 million by 2030; it is estimated to record a CAGR of 4.0% during 2022–2030.

Market Insights and Analyst View:

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.

Growth Drivers:

Increase in Prevalence of Prostate Cancer and Neuroendocrine Tumors Drives Gallium-68 Market Growth

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.

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Gallium-68 Market: Strategic Insights

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Report Segmentation and Scope:

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.

Regional Analysis:

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.

Industry Developments and Future Opportunities:

A few strategic developments (as per company press releases) by leading players operating in the gallium-68 market are listed below:

• In December 2023, Ariceum Therapeutics was granted US and Canadian patents for its Gallium-68 (Ga-68) radiopharmaceutical production kit. The IP was developed by Theragnostics Ltd, which was acquired by Ariceum in 2023. Earlier, the production of Ga-68 radiopharmaceuticals involved a multistep approach, which limited the number of patient doses that could be produced at any time. The Ga-68 technology platform of Theragnostics enables the production of multiple doses of Ga-68 HBED-PSMA-11 in a single vial in one simple step.
• In March 2023, Telix Pharmaceuticals received FDA approval for its supplementary New Drug Application (sNDA) for Illuccix (Ga-68 gozetotide injection preparation kit) for the screening of patients with metastatic prostate cancer, who were recommended Lutetium-177 PSMA-directed therapy.
• In October 2022, Telix won Health Canada’s approval for Illuccix (Ga-68 gozetotide injection preparation kit) for use in the staging and re-staging of intermediate and high-risk prostate cancer, as well as for the localization of tumor tissue in recurrent prostate cancer. Illuccix, following radiolabeling with Ga-68, is recommended for use with PET to detect PSMA-positive lesions in males with prostate cancer.
• In September 2021, Eckert & Ziegler Radiopharma GmbH submitted an amendment to their Drug Master File (DMF) for GalliaPharm to the US FDA, thereby extending its Gallium-68 Generator portfolio into the US market. The company had plans to offer its patented Ge-68/Ga-68 generator in size of up to 100 mCi, with a shelf life of 12 months or 700 elutions. Ga-68 from GalliaPharm is used to prepare diagnostic imaging medicines for PET.

Gallium-68 Market Regional Insights

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.

Gallium-68 Market Report Scope

Gallium-68 Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. Novartis AG
2. Telix Pharmaceuticals (US) Inc
3. IRE-ELiT SA
4. ITM Medical Isotopes GmbH
5. Eckert & Ziegler Radiopharma GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

Competitive Landscape and Key Companies:

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.