The global fluorine-18 market size was valued at US$ 1.4 bn in 2020 and is expected to reach US$ 3 billion by 2030 with at a CAGR of 7.4% from 2021 to 2030.
Fluorine-18 Market (By Product: FDG, NaF, and Others; By End User: Hospitals, Diagnostic Centers, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030
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Fluorine-18 is the most important radionuclide used in positron emission tomography (PET) today, largely due to its unique physical and nuclear characteristics. Agents such as the clinical oncology tracer FDG, the most widely used PET-radiopharmaceutical, have driven interest toward the chemistry of radiopharmaceuticals utilizing fluorine-18.
Positron emission tomography, also called PET imaging or a PET scan, is a type of nuclear medicine imaging, which is primarily carried out through radioactive material. Nuclear medicine imaging uses small amounts of radioactive material to diagnose, evaluate, or treat diseases, and fluorine-18 is widely used in PET scan.
Fluorine-18 is the most widely used radioisotope in positron emission tomography (PET). It has a number of applications in the fields of oncology, neurology, and cardiology.
Combined PET/CT scanners outperform nearly all PET scans today. These combined scans help pinpoint abnormal metabolic activity and could provide more accurate diagnoses than the two scans performed separately. This is a major factor projected to drive the demand for fluorine-18.
Clinical applications of the positron emission tomography/computed tomography (PET-CT) with glucose analogue 2-[fluorine 18] fluoro-2-deoxy-D-glucose (FDG) are expanding beyond the area of oncology. Apart from its high usage in clinical oncology, FDG PET-CT is used in various non-oncologic specialties such as cardiology, neurology, and cognitive neuroscience. This boosts the growth the global fluorine-18 market.
Increase in incidence of cancer across the globe boosts the demand for PET-CT devices. PET-CT test helps to diagnose cancer and provides more information, including whether a tumor is benign or malignant, and how well the cancer is responding to treatment. PET-CT is an extremely sensitive imaging modality in the detection of malignant tissues and presents higher specificity than PET alone, which is the primary reason for fewer equivocal scans and better diagnostic results.
FDG to Dominate Global Market
The global fluorine-18 market has been segmented based on product and end user. In terms of product, the global fluorine-18 market has been classified into FDG, NaF, and others. The FDG segment is expected to account for a major share of the global market by 2030, due to the increase in demand for PET/CT scan in oncology.
Hospitals to be Major End User
In terms of end user, the global fluorine-18 market has been divided into hospitals, diagnostic centers, and others. The hospitals segment is likely to expand at a high CAGR during the forecast period, due to the increase in the demand for the installation of new PET-CT machines in the upcoming hospital projects across the globe, which drive the demand for F-18 isotopes.
North America to Dominate Global Market
The global fluorine-18 market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global fluorine-18 market in 2020, followed by Europe. The fluorine-18 market in Asia Pacific is projected to expand at a high CAGR from 2021 to 2030. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are anticipated to drive the fluorine-18 market in the region.
The report also presents profiles of leading players in the global fluorine-18 market. These include Lantheus Holdings, Inc., Siemens Healthineers, Advanced Accelerator Applications (a Novartis AG Company), GE Healthcare (General Electric Company), Blue Earth Diagnostics (A Bracco Imaging Company), Jubilant Pharma Limited, China lsotope & Radiation Corporation, Eli Lilly and Company, Curium Pharma, and Yantai Dongcheng Pharmaceutical Group Co., Ltd.
Global Fluorine-18 Market: Segmentation
Fluorine-18 Market, by Product
Fluorine-18 Market, by End User
- Diagnostic Centers
Fluorine-18 Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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