Gallium-68 Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Oncology, Neurology, Cardiology, and Others), End User (Hospitals, Diagnostic and Imaging Centers, and Others), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa)
The gallium-68 market size is expected to grow from US$ 782.36 million in 2022 to US$ 1,070.34 million by 2030; it is anticipated to record a CAGR of 4.0% from 2022 to 2030.
Market Drivers of the Gallium-68 Market
Advanced radiation technology has opened new horizons in diagnostic and nuclear medicine, radiotherapy, and interventional radiology. The application of ionizing radiation in diagnoses and treatments benefits millions of patients globally. Positron emission tomography (PET) is a commonly used nuclear medicine radiology modality in clinical settings, as it aids in the accurate detection, localization, and characterization of diseases. According to the World Health Organization (WHO), more than 3,600 million radiology-based diagnostic examinations, 37 million nuclear medicine procedures, and 7.5 million radiotherapy treatments are performed annually worldwide. As per the European Commission, ~10 million nuclear medicine procedures are performed with radiopharmaceuticals and imaging instruments every year in Europe to diagnose diseases and deliver targeted treatments. These techniques are also adopted in oncology, immunology, infection studies, gastroenterology, cardiology, neurology, and psychiatry. The development and introduction of new radiopharmaceuticals for PET/CT and the growing accuracy of different tumor staging methods contribute to the gallium-68 market growth. For instance, newly introduced prostate imaging radiopharmaceuticals such as Ga-68 gozetotide help in more precise prostate cancer imaging.
Restraint of the Gallium-68 Market
The half-life of radiopharmaceuticals depends on the half-life and radiochemical stability of radioisotopes and the radionuclide impurity content in the preparation, among other miscellaneous factors. Most radiopharmaceutical preparations contain radioisotopes with very short half-lives. Gallium-68 must be used within 68 minutes of preparation. The shelf-life of a multidose radiopharmaceutical preparation after aseptic withdrawal of the first dose depends on microbiological conditions. Diagnostic radiopharmaceuticals having short shelf lives are usually prepared in the hospital radiopharmacy departments just before the administration to patients. The half-life of gallium-68 is 68 minutes, which is considerably less than the half-life of other radiopharmaceuticals such as fluorine-18 (109.8 minutes) and technetium-99m (6 hours). Therefore, the short life of radiopharmaceuticals turns out to be a hindrance in long-term procedures, which is a major factor restraining the gallium-68 market growth.
Opportunities in the Gallium-68 Market
Gallium-68 has become integral to the field of theranostics, which combines diagnostic testing with targeted therapy. Using gallium-68 with therapeutic radiopharmaceuticals like lutetium-177 presents a promising personalized cancer treatment and management opportunity. This dual role of gallium-68 as both a diagnostic tool and a therapeutic agent aligns with the increasing emphasis on personalized and precise cancer care. Thus, the increasing theranostics and precision medicine are expected to provide lucrative opportunities for market growth.
Gallium-68 Market: Segmental Overview
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.
Gallium-68 Market: Geographical Overview
Asia Pacific is estimated to register the highest CAGR during 2022–2030. Countries in the Asia Pacific, such as India and China, hold significant potential for the growth of the gallium-68s market. In 2022, North America held the largest gallium-68 market share. Nuclear medicine in the US has grown significantly owing to 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. 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 number of cancer cases 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 of the major primary and secondary sources referred to while preparing the report on the gallium-68 market are the World Bank Data, National Health Service (NHS), FDA (Food and Drug Administration), EMA (European Medicines Agency), and WHO (World Health Organization).
Market Drivers of the Gallium-68 Market
Advanced radiation technology has opened new horizons in diagnostic and nuclear medicine, radiotherapy, and interventional radiology. The application of ionizing radiation in diagnoses and treatments benefits millions of patients globally. Positron emission tomography (PET) is a commonly used nuclear medicine radiology modality in clinical settings, as it aids in the accurate detection, localization, and characterization of diseases. According to the World Health Organization (WHO), more than 3,600 million radiology-based diagnostic examinations, 37 million nuclear medicine procedures, and 7.5 million radiotherapy treatments are performed annually worldwide. As per the European Commission, ~10 million nuclear medicine procedures are performed with radiopharmaceuticals and imaging instruments every year in Europe to diagnose diseases and deliver targeted treatments. These techniques are also adopted in oncology, immunology, infection studies, gastroenterology, cardiology, neurology, and psychiatry. The development and introduction of new radiopharmaceuticals for PET/CT and the growing accuracy of different tumor staging methods contribute to the gallium-68 market growth. For instance, newly introduced prostate imaging radiopharmaceuticals such as Ga-68 gozetotide help in more precise prostate cancer imaging.
Restraint of the Gallium-68 Market
The half-life of radiopharmaceuticals depends on the half-life and radiochemical stability of radioisotopes and the radionuclide impurity content in the preparation, among other miscellaneous factors. Most radiopharmaceutical preparations contain radioisotopes with very short half-lives. Gallium-68 must be used within 68 minutes of preparation. The shelf-life of a multidose radiopharmaceutical preparation after aseptic withdrawal of the first dose depends on microbiological conditions. Diagnostic radiopharmaceuticals having short shelf lives are usually prepared in the hospital radiopharmacy departments just before the administration to patients. The half-life of gallium-68 is 68 minutes, which is considerably less than the half-life of other radiopharmaceuticals such as fluorine-18 (109.8 minutes) and technetium-99m (6 hours). Therefore, the short life of radiopharmaceuticals turns out to be a hindrance in long-term procedures, which is a major factor restraining the gallium-68 market growth.
Opportunities in the Gallium-68 Market
Gallium-68 has become integral to the field of theranostics, which combines diagnostic testing with targeted therapy. Using gallium-68 with therapeutic radiopharmaceuticals like lutetium-177 presents a promising personalized cancer treatment and management opportunity. This dual role of gallium-68 as both a diagnostic tool and a therapeutic agent aligns with the increasing emphasis on personalized and precise cancer care. Thus, the increasing theranostics and precision medicine are expected to provide lucrative opportunities for market growth.
Gallium-68 Market: Segmental Overview
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.
Gallium-68 Market: Geographical Overview
Asia Pacific is estimated to register the highest CAGR during 2022–2030. Countries in the Asia Pacific, such as India and China, hold significant potential for the growth of the gallium-68s market. In 2022, North America held the largest gallium-68 market share. Nuclear medicine in the US has grown significantly owing to 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. 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 number of cancer cases 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 of the major primary and secondary sources referred to while preparing the report on the gallium-68 market are the World Bank Data, National Health Service (NHS), FDA (Food and Drug Administration), EMA (European Medicines Agency), and WHO (World Health Organization).
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. GALLIUM-68 MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. GALLIUM-68 MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. GALLIUM-68 MARKET - GLOBAL MARKET ANALYSIS
6.1 Gallium-68 - Global Market Overview
6.2 Gallium-68 - Global Market and Forecast to 2030
7. GALLIUM-68 MARKET – REVENUE ANALYSIS (USD MILLION) – BY APPLICATION, 2020-2030
7.1 Overview
7.2 Oncology
7.2.1 Prostate Cancer
7.2.2 Neuroendocrine Tumors
7.2.3 Others
7.3 Cardiology
7.4 Neurology
7.5 Others
8. GALLIUM-68 MARKET – REVENUE ANALYSIS (USD MILLION) – BY END-USER, 2020-2030
8.1 Overview
8.2 Hospitals
8.3 Diagnostic and Imaging Centers
8.4 Others
9. GALLIUM-68 MARKET - REVENUE ANALYSIS (USD MILLION), 2020-2030 – GEOGRAPHICAL ANALYSIS
9.1 North America
9.1.1 North America Gallium-68 Market Overview
9.1.2 North America Gallium-68 Market Revenue and Forecasts to 2030
9.1.3 North America Gallium-68 Market Revenue and Forecasts and Analysis - By Application
9.1.4 North America Gallium-68 Market Revenue and Forecasts and Analysis - By End-User
9.1.5 North America Gallium-68 Market Revenue and Forecasts and Analysis - By Countries
9.1.5.1 United States Gallium-68 Market
9.1.5.1.1 United States Gallium-68 Market, by Application
9.1.5.1.2 United States Gallium-68 Market, by End-User
9.1.5.2 Canada Gallium-68 Market
9.1.5.2.1 Canada Gallium-68 Market, by Application
9.1.5.2.2 Canada Gallium-68 Market, by End-User
9.1.5.3 Mexico Gallium-68 Market
9.1.5.3.1 Mexico Gallium-68 Market, by Application
9.1.5.3.2 Mexico Gallium-68 Market, by End-User
Note - Similar analysis would be provided for below mentioned regions/countries
9.2 Europe
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Rest of Europe
9.3 Asia-Pacific
9.3.1 Australia
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 Middle East and Africa
9.4.1 South Africa
9.4.2 Saudi Arabia
9.4.3 U.A.E
9.4.4 Rest of Middle East and Africa
9.5 South and Central America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Rest of South and Central America
10. INDUSTRY LANDSCAPE
10.1 Mergers and Acquisitions
10.2 Agreements, Collaborations, Joint Ventures
10.3 New Product Launches
10.4 Expansions and Other Strategic Developments
11. COMPETITIVE LANDSCAPE
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration
12. GALLIUM-68 MARKET - KEY COMPANY PROFILES
12.1 Novartis AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
Note - Similar information would be provided for below list of companies
12.2 ITM Medical Isotopes GmbH
12.3 IRE-ELiT SA
12.4 Telix Pharmaceuticals (US) Inc
12.5 Eckert and Ziegler Radiopharma Gmbh
12.6 ARTMS Inc
12.7 IBA Radiopharma Solutions
12.8 Cardinal Health
12.9 Rosatom
12.10 Evergreen Theragnostics Inc
13. APPENDIX
13.1 Glossary
13.2 About The Insight Partners
13.3 Market Intelligence Cloud
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. RESEARCH METHODOLOGY
4. GALLIUM-68 MARKET LANDSCAPE
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. GALLIUM-68 MARKET - KEY MARKET DYNAMICS
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. GALLIUM-68 MARKET - GLOBAL MARKET ANALYSIS
6.1 Gallium-68 - Global Market Overview
6.2 Gallium-68 - Global Market and Forecast to 2030
7. GALLIUM-68 MARKET – REVENUE ANALYSIS (USD MILLION) – BY APPLICATION, 2020-2030
7.1 Overview
7.2 Oncology
7.2.1 Prostate Cancer
7.2.2 Neuroendocrine Tumors
7.2.3 Others
7.3 Cardiology
7.4 Neurology
7.5 Others
8. GALLIUM-68 MARKET – REVENUE ANALYSIS (USD MILLION) – BY END-USER, 2020-2030
8.1 Overview
8.2 Hospitals
8.3 Diagnostic and Imaging Centers
8.4 Others
9. GALLIUM-68 MARKET - REVENUE ANALYSIS (USD MILLION), 2020-2030 – GEOGRAPHICAL ANALYSIS
9.1 North America
9.1.1 North America Gallium-68 Market Overview
9.1.2 North America Gallium-68 Market Revenue and Forecasts to 2030
9.1.3 North America Gallium-68 Market Revenue and Forecasts and Analysis - By Application
9.1.4 North America Gallium-68 Market Revenue and Forecasts and Analysis - By End-User
9.1.5 North America Gallium-68 Market Revenue and Forecasts and Analysis - By Countries
9.1.5.1 United States Gallium-68 Market
9.1.5.1.1 United States Gallium-68 Market, by Application
9.1.5.1.2 United States Gallium-68 Market, by End-User
9.1.5.2 Canada Gallium-68 Market
9.1.5.2.1 Canada Gallium-68 Market, by Application
9.1.5.2.2 Canada Gallium-68 Market, by End-User
9.1.5.3 Mexico Gallium-68 Market
9.1.5.3.1 Mexico Gallium-68 Market, by Application
9.1.5.3.2 Mexico Gallium-68 Market, by End-User
Note - Similar analysis would be provided for below mentioned regions/countries
9.2 Europe
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Rest of Europe
9.3 Asia-Pacific
9.3.1 Australia
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 Middle East and Africa
9.4.1 South Africa
9.4.2 Saudi Arabia
9.4.3 U.A.E
9.4.4 Rest of Middle East and Africa
9.5 South and Central America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Rest of South and Central America
10. INDUSTRY LANDSCAPE
10.1 Mergers and Acquisitions
10.2 Agreements, Collaborations, Joint Ventures
10.3 New Product Launches
10.4 Expansions and Other Strategic Developments
11. COMPETITIVE LANDSCAPE
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration
12. GALLIUM-68 MARKET - KEY COMPANY PROFILES
12.1 Novartis AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
Note - Similar information would be provided for below list of companies
12.2 ITM Medical Isotopes GmbH
12.3 IRE-ELiT SA
12.4 Telix Pharmaceuticals (US) Inc
12.5 Eckert and Ziegler Radiopharma Gmbh
12.6 ARTMS Inc
12.7 IBA Radiopharma Solutions
12.8 Cardinal Health
12.9 Rosatom
12.10 Evergreen Theragnostics Inc
13. APPENDIX
13.1 Glossary
13.2 About The Insight Partners
13.3 Market Intelligence Cloud
