Hyderabad, Telengana -- (SBWIRE) -- 02/13/2023 -- Overview:

A Positron Emission Tomography (PET) radiotracer (PET tracer) is a radiopharmaceutical that emits positrons and is used in PET. PET is a nuclear imaging method used for cancer diagnosis, staging, and monitoring, among other things. Each tracer is made up of a positron-emitting isotope that is linked to a targeting agent. PET scans employ radioactive tracers to reveal how an organ is working right now.

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Market Size and Future Apprehension:

According to the most recent DataM Intelligence analysis, the worldwide "PET Radiotracer Market" is expected to grow at CAGR of 7.62% during the forecast period 2023-2030.

Market Dynamics:

Drivers:

The rise in the incidence of various diseases such as cancer, neurological disorders such as Alzheimer's disease, increased acceptance of PET radiotracers for disease diagnosis, an increase in the elderly population, and research activities are driving the growth of the PET radiotracer market.

The rising incidence of disorders, such as cardiovascular and cancer diseases, is expected to drive the market throughout the forecast period. According to the World Health Organization, around 55 million individuals worldwide have dementia, with Alzheimer's disease being the leading cause of all dementia diagnoses. A PET scan is an efficient method for detecting diseases such as cancer, brain abnormalities, and heart disease. A radioactive isotope that is injected into the patient identifies sick cells. Furthermore, combining PET-CT scans yields 3D pictures for more accurate diagnosis. The PET scan may identify various cancer kinds, including breast, cervical, lung, skin, and many more. PET radiotracers can detect regions of poor blood flow in the heart in patients with heart disease. It also analyses brain illnesses such as tumours, Alzheimer's disease, and seizures.

Restraints:

However, PET scans are not appropriate for everyone, with pregnant women and lactating mothers being excluded. The radiation from PET scans is dangerous to an unborn foetus and can be passed on to a child through breast milk. Furthermore, some persons are allergic to the radioactive tracers used in PET scans. Diabetes patients have additional challenges since they are unable to digest sugar, which is contained in the radiotracer, limiting market expansion.

Segmentation Analysis:

PET Radiotracer Market is segmented By Type, Application, Form, End—User and, Region

By Type:
- Ga-68(FAPI)
- 18F-FDG (FDG)
- Others

By Application:

- Cancer
- Heart Disease
- Gastrointestinal
- Infectious disease
- Renal
- Neurological Disorders
- Others

By Form:

- Dry Food
- Wet Food
- Freeze-Dried Food
- Others

By End-User:

- Hospitals
- Diagnostic Centers
- Others

Competitive Analysis:

The PET radiotracer market has a fairly competitive presence of both domestic and international players. Some of the important companies that are contributing to the market's growth are

- Blue Earth Diagnostics
- ABX advanced biochemical compounds GmbH
- Cardinal Health
- IBA Radiopharma Solutions
- Eli Lilly and Company
- GE Healthcare
- Jubilant Pharma Limited
- Lantheus Holdings Inc.
- Yantai Dongcheng Pharmaceutical Group Co., Ltd
- Siemens Healthineers AG.

The leading companies are using various growth strategies such as treatment type launches, acquisitions, and partnerships, which are contributing to the worldwide expansion of the PET radiotracer market.

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Regional Analysis:

North America dominates the PET radiotracer market and is likely to continue in this manner during the forecast period. It is predicted to have a significant market size during the forecast period (2022-2029) because to the expanding geriatric population, upgraded healthcare infrastructure, and increased usage of PET radio scanners to determine the current stage of illnesses such as cancer. According to the National Cancer Institute, about 1,806,590 new cancer cases are expected to be identified in the United States in 2020, with 606,520 individuals expected to die from the disease. As the region's cancer rate rises, so does the need for cancer diagnostics. As a result, there is an increase in demand for PET radiotracers in the North American area.

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