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 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.
This report focuses on fluorine-18 market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall fluorine-18 market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global fluorine-18 market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the fluorine-18 market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the fluorine-18 market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Fluorine-18 market.
Market Segments: This part of the report discusses about product, application and other segments of the fluorine-18 market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global fluorine-18 market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the fluorine-18 market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
Competitive Landscape and Market Share Analysis
The fluorine-18 market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, fluorine-18 sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2017-2020, this study provides the fluorine-18 sales, revenue and market share for each player covered in this report.
The research methodology adopted by analysts for compiling the global fluorine-18 market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global fluorine-18 market.
The study objectives of this report are: