Prostate cancer is one of the leading causes of death across the world. To diagnose prostate cancer, physicians usually recommend a prostate-specific antigen test and digital rectum test as preliminary investigations. If the results of those tests are abnormal, physicians perform transrectal ultrasound, biopsy, prostate cancer gene assay test, etc.. Furthermore, if physicians want to find out whether the cancer has spread outside the prostate, they can conduct a whole-body scan (using Technitium 99), CT/CAT scan, PET-CT scan, MRI scan, etc.. Prostate-specific membrane antigen (PSMA) is a cell surface antigen that is highly expressed in prostate cancer. PSMA radionuclide labelled with positron emission tomography (PET) imaging has been found to be superior to other conventional imaging techniques for the diagnosis of prostate cancer.
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The global PSMA-PET imaging market is primarily driven by an increase in the prevalence of prostate cancer in the population across the globe. A consistent rise in the geriatric population, sedentary lifestyle of people in developed countries, and a high incidence of obesity at an early age are augmenting the prevalence of prostate cancer globally. This propels demand for prostate cancer diagnosis and therapies. In addition, launch of promising emerging diagnostic methods, awareness about prostate cancer, higher rate of diagnosis and treatment of prostate cancer, well-developed health care infrastructure, and availability of health care reimbursement are likely to fuel the global PSMA-PET imaging market in the coming years. However, high cost of treatment of prostate cancer is estimated to restrain the growth of the global PSMA-PET imaging market during the forecast period. According to the Global Oncology Trend Report, global prices of prostate cancer drugs and supportive care medicines increased by 11.5% in 2015. Furthermore, a stringent regulatory scenario is anticipated to present a barrier for the global PSMA-PET imaging market during the forecast period.
There is a large undiagnosed patient pool for prostate cancer globally, especially in developing countries where health care facilities are not capable enough of taking care of the diseased population. Governments are undertaking initiatives to address this issue. Therefore, the number of reported patients is anticipated to increase during the forecast period. A large undiagnosed patient population is expected to provide a significant opportunity to the global PSMA-PET imaging market during the forecast period.
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In terms of type of prostrate cancer, the global PSMA-PET imaging market can be segmented into acinar adenocarcinoma, ductal adenocarcinoma, and others. Based on age group, the global PSMA-PET imaging market can be classified into less than 55 years of age, aged between 55 and 75, and above 75 years of age. In terms of end-user, the PSMA-PET imaging market can be categorized into hospitals, diagnostic centers, and academic and research institutions.
Based on geography, the global PSMA-PET imaging market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the American Cancer Society, around 0.105% of the total male population in the U.S. was documented as new cases of prostate cancer in 2017. The Canadian Cancer Society estimated around 0.139% of the total male population as new cases of prostate cancer in Canada in 2017. The PSMA-PET imaging market in North America was expected to hold the highest market share in 2017, owing to a high incidence of prostate cancer in the region, availability of PSMA-PET imaging techniques, , high health care awareness, and technological advancements. The PSMA-PET imaging market in Europe is anticipated to constitute a key market share and expand at a robust pace during the forecast period. This is due to a significantly high incidence of prostate cancer (0.113% of the male population in Europe in 2017) and strong awareness of the consequences of prostate cancer, availability of health care reimbursement, and well-developed health care infrastructure in Western Europe.
The PSMA-PET imaging market in Asia Pacific is anticipated to expand at a rapid CAGR during the forecast period, due to the developing health care sector and increase in awareness about prostate cancer. However, high cost of treatment, feeble medical infrastructure, low awareness about prostate cancer, and low availability of the PSMA-PET imaging method are likely to hamper the PSMA-PET imaging market in Latin America and Middle East & Africa.
Key companies operating in the global PSMA-PET imaging market are Fisher Scientific, Agilent Technologies, Bio-Rad Laboratories, Inc., Abzena PLC.,Bayer Health, Blue Earth Diagnostics, Inc, Endocyte, Aytu BioScience, Inc., Seattle Genetics, Inc., Diagnostic BioSystems, and others.
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