Prostate Cancer Nuclear Medicine Diagnostics Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast

"The Business Research Company recently released a comprehensive report on the Global Prostate Cancer Nuclear Medicine Diagnostics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The prostrate cancer nuclear medicine diagnostics market size has grown rapidly in recent years. It will grow from $0.75 billion in 2023 to $0.86 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increased demand for pet scans, increased urbanization, rise in disposable income, rise in need for accurate cancer diagnosis, increased emphasis on early detection.

The prostrate cancer nuclear medicine diagnostics market size is expected to see rapid growth in the next few years. It will grow to $1.49 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to rising prevalence of prostate cancer, increasing demand for positron emission tomography, rising awareness about environmental sustainability, rising frequency of cancers, increasing digital transformation. Major trends in the forecast period include product innovation, technological advancements, advancements in nuclear medicine imaging, improved radiopharmaceuticals and imaging methods, innovative radiopharmaceuticals.

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Market Drivers and Trends:

The increasing number of surgical procedures is expected to propel the growth of the operating room management software market going forward. Surgical procedures refer to medical operations performed by a surgeon or a surgical team to diagnose, treat, or manage various health conditions. Surgeries are rising due to advancements in medical technology, the aging population, and increasing the demand for surgical interventions. Operating room management software is used to optimize the scheduling, coordination, and efficiency of surgical procedures, thereby enhancing patient care and resource utilization. For instance, in March 2023, according to the British Association of Aesthetic Plastic Surgeons, a UK-based surgical organization, 31,057 cosmetic surgical procedures took place in 2022, up 102% from 2021. Furthermore, in February 2022, according to the American Academy of Facial Plastic and Reconstructive Surgery, a US-based medical society, an estimated 1.4 million surgical and non-surgical procedures were performed in 2021, with plastic surgeons completing an average of 600 more procedures compared to 2020, marking a 40% increase. Therefore, the increasing number of surgical procedures is driving the growth of the operating room management software market.

Major companies operating in the prostate cancer nuclear medicine diagnostics market are developing innovative diagnostic imaging techniques and getting US Food and Drug Administration (FDA) approval. FDA clearance for diagnostics ensures that healthcare providers and patients can access safe and practical tests for diagnosing and managing various medical conditions. For instance, in March 2022, Novartis, a Switzerland-based pharmaceutical corporation, launched Pluvicto(lutetium Lu 177 vipivotide tetraxetan) for treating adult patients diagnosed with metastatic castration-resistant prostate cancer (mCRPC) of a specific type known as prostate-specific membrane antigen-positive (PSMA-positive) that has spread to other areas of the body. Pluvicto combines a targeting compound (ligand) with a therapeutic radioisotope (a radioactive particle), providing a precision cancer treatment that targets prostate cancer cells expressing the prostate-specific membrane antigen (PSMA).

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Major Key Players of the Market:

Cardinal Health, General Electric, Bayer AG , Novartis AG, Siemens Healthineers AG, GE Healthcare, Lantheus, CURIUM PHARMA, Telix Pharmaceuticals Ltd., Eckert & Ziegler AG, Point Biopharma Global Inc., Point Biopharma, Alliance Medical Ltd., SHINE Medical Technologies LLC , PETNET Solution, NorthStar Medical Radioisotopes LLC, Global Medical Solutions LLC , Isotope Technologies Garching (ITG), Jubilant Pharma Limited, Blue Earth Diagnostics Inc., Institute of Isotopes Co. Ltd. , Radiopharm Theranostics, Bracco Diagnostic Inc., NCM-USA LLC, ABX Advanced Biochemical Compounds GmbH

Prostate Cancer Nuclear Medicine Diagnostics Market 2024 Key Insights:

• The prostrate cancer nuclear medicine diagnostics market size is expected to see rapid growth in the next few years. It will grow to $1.49 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%.
• Fueling Growth In Prostate Cancer Nuclear Medicine Diagnostics Market
• Advancements In Prostate Cancer Nuclear Medicine Diagnostics With Innovations, Therapies, and Regulatory Clearance
• North America was the largest region in the prostrate cancer nuclear medicine diagnostics market in 2023

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