The South & Central America radioactive tracer market was valued at US$ 476.96 million in 2022 and is expected to reach US$ 1,634.33 million by 2030; it is estimated to grow at a CAGR of 16.6% from 2022 to 2030.
Based on test type, the South & Central America radioactive tracer market is segmented into PET, SPECT, and others. The PET segment held the largest market share in 2022.
Based on end user, the South & Central America radioactive tracer market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held the largest market share in 2022.
Based on application, the South & Central America radioactive tracer market is segmented into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held the largest market share in 2022.
Based on country, the South & Central America radioactive tracer market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America radioactive tracer market share in 2022.
Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, and IBA Radiopharma Solutions are some of the leading players operating in the South & Central America radioactive tracer market.
Use of Radioactive Tracer in Cancer Diagnosis fuel the South & Central America Radioactive Tracer Market
Oncology is a significantly developing field in the healthcare sector, as cancer cases are increasing worldwide. According to Institute for Health Metrics and Evaluation (IHME), cancer is the second major cause of death after cardiovascular disorders. The use of advanced materials and drugs in the diagnosis and treatment of cancer has surged with prominent developments in oncology. Radioactive tracer-based imaging is one of the advanced diagnostic methods used to accurately diagnose cancer types, such as prostate cancer, gynecological cancer, and blood-borne cancer. Once injected into the body, these radioactive tracers attach to the cancer-specific sites, accurately diagnosing the cancer type. Tracer also helps determine the cancer development stage, enabling effective treatment and faster recovery in most cases. PET and SPECT are among the nuclear imaging techniques that use gamma emitters for detecting tumors. As the tumor grows, its uptake of the PET and SPECT conjugate increases over time, which improves contrast due to the presence of nuclear imaging agents. This further leads to blood clearance due to which clear diagnostic images can be generated. The most commonly used radioactive tracer for detecting cancer is F-18 fluorodeoxyglucose (18F-FDG), a compound similar to glucose or sugar. Cancer cells are highly active and need more energy, i.e., extra glucose, than normal cells. Imaging devices such as PET or SPECT detect this energy released by FDG to create an image showing the location of a radioactive tracer in the body. This helps determine the location of cancerous cells in the patient’s body so that the treatment can be tailored according to the type and stage of cancer. Thus, the increasing use of radioactive tracer in cancer diagnostics is anticipated to drive market expansion during the estimated timeframe.South & Central America Radioactive Tracer Market Overview
The South & Central America radioactive tracer market is segmented into Brazil, Argentina, and the Rest of South & Central America. The market in the region is expected to grow due to the increasing number of cancer cases, growing government initiatives, and rising research and development for radioactive tracer.South & Central America Radioactive Tracer Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Radioactive Tracer Market Segmentation
The South & Central America radioactive tracer market is segmented based on tracer type, test type, end user, application, and country. Based on tracer type, the South & Central America radioactive tracer market is segmented into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held the largest market share in 2022.Based on test type, the South & Central America radioactive tracer market is segmented into PET, SPECT, and others. The PET segment held the largest market share in 2022.
Based on end user, the South & Central America radioactive tracer market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held the largest market share in 2022.
Based on application, the South & Central America radioactive tracer market is segmented into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held the largest market share in 2022.
Based on country, the South & Central America radioactive tracer market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America radioactive tracer market share in 2022.
Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, and IBA Radiopharma Solutions are some of the leading players operating in the South & Central America radioactive tracer market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. South & Central America Radioactive Tracer Market - Key Industry Dynamics
5. Radioactive Tracer Market - South & Central America Market Analysis
6. South & Central America Radioactive Tracer Market - Revenue and Forecast to 2030 - by Tracer Types
7. South & Central America Radioactive Tracer Market - Revenue and Forecast to 2030 - by Test Type
8. South & Central America Radioactive Tracer Market - Revenue and Forecast to 2030 - by Application.
9. South & Central America Radioactive Tracer Market - Revenue and Forecast to 2030 - by End User
10. South & Central America Radioactive Tracer Market - Country Analysis
11. Radioactive Tracer Market Industry Landscape
12. Radioactive Tracer Market, Key Company Profiles
13. Appendix
List of Tables
List of Figures
Executive Summary
At 16.6% CAGR, the South & Central America Radioactive Tracer Market is Speculated to be worth US$ 1,634.33 million by 2030.According to this research,, the South & Central America radioactive tracer market was valued at US$ 476.96 million in 2022 and is expected to reach US$ 1,634.33 million by 2030, registering a CAGR of 16.6% from 2022 to 2030. Rising prevalence of chronic diseases and increasing use of nuclear imaging techniques are the critical factors attributed to the South & Central America radioactive tracer market expansion.
Increasing aging population, changing social behavior, rising adoption of a sedentary lifestyle, and accelerating urbanization are the key factors boosting the prevalence of obesity and other chronic diseases such as diabetes. Further, studies have long established that genes can cause chronic conditions such as cardiovascular disease (CVD), diabetes, obesity, Alzheimer's disease (AD), and depression. CVDs, such as atherosclerosis, angina pectoris, and acute myocardial infarction, caused due to hectic lifestyles have become significant causes of mortality worldwide. As per the data provided by the WHO, CVDs are the predominant cause of death worldwide, recording estimated 17.9 million deaths each year. Diabetes is a life-threatening chronic disease with no functional cure. Diabetes of all types can lead to various complications in different body parts and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are among the major complications associated with diabetes. The disease prevalence will likely increase by nearly 35% during the forecast period. Thus, an effective examination is a must for properly treating chronic diseases; hence, nuclear substances are used for diagnosis and examination purposes. These nuclear substances are used in diagnostic tests such as positron emission tomography (PET) and single-photon emission computerized tomography (SPECT) to diagnose chronic diseases such as neurological, cardiovascular, chronic lung, and chronic kidney diseases. the availability of several radiotracer across the globe makes it selection easy depending on the type of disease and its prognosis. Thus, the increasing incidences of chronic diseases are surging the demand for radioactive tracer, positively favoring market expansion.
On the contrary, short shelf-life of radioactive tracer hurdles the growth of South & Central America radioactive tracer market.
Based on tracer type, the South & Central America radioactive tracer market is categorized into technetium-99m & Tc-97m, iodine-131, iron-59, lutetium-171, rubidium (Rb-82) chloride & ammonia (N-13), scandium-46, seaborgium-269, hassium-269, Gallium citrate Ga 67, Prostate-Specific Membrane Antigen (PSMA) (Ga-68), FDDNP (F-18) & FDOPA (F-18), phosphorus-32 & chromium-51, thallium-201, F-18 FDG, F-18 FAPI, Ga-68 FAPI, F-18 PSMA, DOTATOC/DOTANOC/DOTATATE (Ga-68), and others. The others segment held 59.9% market share in 2022, amassing US$ 285.57 million. It is projected to garner US$ 919.64 million by 2030 to expand at 15.7% CAGR during 2022-2030.
Based on test type, the South & Central America radioactive tracer market is categorized into PET, SPECT, and others. The PET segment held 45.6% share of South & Central America radioactive tracer market in 2022, amassing US$ 217.59 million. It is projected to garner US$ 765.15 million by 2030 to expand at 17.0% CAGR during 2022-2030.
Based on end user, the South & Central America radioactive tracer market is categorized into hospitals & clinics, diagnostic centers, academic & research institutes, and others. The hospitals & clinics segment held 70.2% share of South & Central America radioactive tracer market in 2022, amassing US$ 334.75 million. It is projected to garner US$ 1,148.35 million by 2030 to expand at 16.7% CAGR during 2022-2030.
Based on application, the South & Central America radioactive tracer market is categorized into oncology, pulmonary, neurology, cardiology, and others. The oncology segment held 61.1% share of South & Central America radioactive tracer market in 2022, amassing US$ 291.52 million. It is projected to garner US$ 971.53 million by 2030 to expand at 16.2% CAGR during 2022-2030.
Based on country, the South & Central America radioactive tracer market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 38.0% share of South & Central America radioactive tracer market in 2022. It was assessed at US$ 181.39 million in 2022 and is likely to hit US$ 605.84 million by 2030, exhibiting a CAGR of 16.3% during 2022-2030.
Key players operating in the South & Central America radioactive tracer market are Rotem Industries Ltd, Invicro LLC, Cardinal Health Inc, Newcastle University, Novartis AG, Curium, General Electric Co, and IBA Radiopharma Solutions, among others.
Companies Mentioned
- Rotem Industries Ltd
- Invicro LLC
- Cardinal Health Inc
- Newcastle University
- Novartis AG
- Curium
- General Electric Co
- IBA Radiopharma Solutions
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 113 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 476.96 Million |
| Forecasted Market Value by 2030 | 1634.33 Million |
| Compound Annual Growth Rate | 16.6% |
| No. of Companies Mentioned | 8 |
