Global PSMA PET Imaging and Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global PSMA PET Imaging and Treatment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Prostate-specific membrane antigen (PSMA) is a transmembrane protein that is expressed in high levels in prostate cancer cells. Due to its location on the cell surface, PSMA is a popular target for imaging to identify the presence of prostate cancer and to deliver drugs directly to the cancerous cells. PSMA PET Imaging mainly refers to a new imaging technology for prostate cancer that can locate cancer lesions. Currently, PSMA PET uses FDA-approved PET-sensitive drugs. PSMA PET Imaging and Treatment involves diagnosing prostate cancer, improving symptoms, and reducing tumor size.

Market Overview:

The latest research study on the global PSMA PET Imaging and Treatment market finds that the global PSMA PET Imaging and Treatment market reached a value of USD 42.54 million in 2022. It’s expected that the market will achieve USD 4276.7 million by 2028, exhibiting a CAGR of 115.63% during the forecast period.

Influence of COVID-19 Outbreak on PSMA PET Imaging and Treatment Industry Development

The raging COVID-19 has plunged the global economic environment into depression. The impact of COVID-19 on the PSMA PET Imaging and Treatment industry will involve all major links and all entities of the industry chain. In the short term, the outbreak of the epidemic has prompted countries around the world to implement comprehensive traffic control and other measures. This poses a certain threat to the PSMA PET Imaging and Treatment supply chain. This is mainly reflected in the impact of the epidemic on the procurement of raw materials in the PSMA PET Imaging and Treatment industry. Due to the limited production and poor logistics of raw material suppliers, the procurement of raw materials is facing difficulties, but with the progress of the resumption of work and production, this situation will be effectively alleviated.

From the perspective of PSMA PET Imaging and Treatment enterprises, the main reason is to increase cost pressure. The outbreak of COVID-19 has put companies under pressure from tight cash flow, supply chain disruption, and a general decline in market supply and demand. Most companies expect a sharp drop in revenue. Employee wages, loan repayments and rental expenses are the main cost pressures for business operations. Especially for SMEs, paying staff wages has become the biggest cost pressure. In contrast, workers in large companies are under relatively less wage pressure.

From the downstream point of view, the impact of the epidemic on the downstream customers of PSMA PET Imaging and Treatment is comprehensive. The COVID-19 pandemic has impacted healthcare delivery globally since December 2019. The COVID-19 pandemic has impacted prostate cancer diagnosis and has led to delays in drug treatment for prostate cancer. At the same time, the pandemic has negatively impacted both new diagnoses and surveillance of previously treated prostate cancer. With the increase in vaccination rates in various places and the gradual control of the epidemic, the diagnosis and treatment of prostate cancer patients will gradually resume. Therefore, in the later period of the epidemic, the demand for PSMA PET Imaging and Treatment will continue to rise.

Advantages of PSMA PET Imaging over conventional imaging techniques

In the diagnostic part of prostate cancer, PSMA PET Imaging has obvious advantages. First, PSMA-binding analogs have high potential as highly sensitive and reasonably specific molecular tracers, possessing most of the imaging features required for various treatment decisions in prostate malignancies. Second, PSMA PET scans are more accurate. In March 2020, the Lancet published an article showing that a medical imaging technique called PSMA PET/CT can provide levels of prostate cancer-related molecules as well as detailed systemic distribution, which can help doctors determine how far the disease has spread. This method was nearly one-third more accurate in pinpointing the spread of prostate cancer in the body than existing standard imaging methods: PSMA PET/CT was 92 percent accurate, compared to 65 percent for standard imaging. %. It can be seen that PSMA PET imaging has obvious advantages in accurately locating the spread of prostate cancer. Finally, although both PSMA PET Imaging and conventional imaging methods have radiation, the radiation dose for PSMA PET is less than half that of conventional imaging. Therefore, due to the advantages of high accuracy and low radiation, PSMA PET Imaging has become an important method for the diagnosis of prostate cancer.

Growing geriatric population is driving market growth

For PSMA PET Imaging and Treatment, the growing geriatric population is driving the market growth. The risk of prostate cancer increases with age, especially after age 50, according to the American Society of Clinical Oncology. About 60% of prostate cancers are diagnosed in people 65 or older. Older adults diagnosed with prostate cancer may face unique challenges, especially when it comes to cancer treatment. Currently, the global population is aging, and the proportion of the elderly population to the total population is growing in every country. According to the recent World Population Prospects report released by the United Nations, by 2050, one in six people in the world will be over the age of 65 (16%). The number of people aged 80 or over is expected to triple from 143 million in 2019 to 426 million in 2050. At present, the regions with more serious population aging are in Asia and Europe. The risk of prostate cancer in older adults continues to rise as they age. Therefore, the increasing aging population will promote the demand for PSMA PET Imaging and Treatment to a certain extent.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Bayer buys a biotech and its offshoot in bet on radiopharmaceuticals
On June 3, 2021, Bayer said it acquired two small biotech companies in a deal that adds an experimental prostate cancer medicine to the German drugmaker's pipeline.
Noria Therapeutics and its subsidiary PSMA Therapeutics, the targets of Bayer's interest, were built around technology licensed by Weill Cornell Medicine and Johns Hopkins University. John Babich, a professor at Weill Cornell, founded Noria.
The deal gives Bayer exclusive rights to a preclinical radiopharmaceutical targeted at PSMA, a protein commonly found on prostate cancer cells. Financial details were not disclosed.

Isotopia Molecular Imaging, Eckert & Ziegler Partner for Prostate Cancer Imaging

On February 14, 2020, Isotopia Molecular Imaging has entered into a development partnership with Eckert & Ziegler for the development of its PSMA-11-Kit for prostate cancer imaging. Eckert & Ziegler (E&Z), is a Berlin-based company specializing in isotope technology for medical, scientific and industrial applications.

Under the terms of the agreement, E&Z and Isotopia will partner to finalize the development of Isotopia's 68Ga-HBED-CC-PSMA (68Ga-PSMA-11) kit (Kit), a technology for imaging and staging of prostate cancer. The agreement includes the collaboration to make operation of the Kit feasible on E&Z´s KitLab, having E&Z´s GalliaPharm® (68Ge/68Ga generator) in the Drug Master File (DMF) of the Kit, and completion of the necessary steps to obtain marketing authorization in the EU.

GE Healthcare and Theragnostics announce global commercial partnership for late stage PSMA diagnostic for prostate cancer

On October 09, 2019, GE Healthcare and Theragnostics have entered into a global commercial partnership for a new Prostate-Specific Membrane Antigen (PSMA) PET/CT imaging agent. Theragnostics will lead the development of the tracer, GalliProst, while GE Healthcare will lead all pre-approval commercial preparations and as and when approval is received, all subsequent commercial and distribution activities.

Lantheus, Telix, Novartis were the top 3 players in the PSMA PET Imaging and Treatment market in 2022, taking up a market share of 100% together.

Segmentation Overview:

Among different product types, Acinar Adenocarcinoma segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Hospitals segment occupied the biggest share from 2017 to 2022.

Key Companies in the global PSMA PET Imaging and Treatment market covered in Chapter 3:

Novartis
Telix
RadioMedix
Clarity
Lantheus
Blue Earth Diagnostics, Inc

In Chapter 4 and Chapter 14.2, on the basis of types, the PSMA PET Imaging and Treatment market from 2018 to 2029 is primarily split into:

Acinar Adenocarcinoma
Ductal Adenocarcinoma
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the PSMA PET Imaging and Treatment market from 2018 to 2029 covers:

Hospitals
Diagnostic Centers
Academic Research Institutions

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)