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The Radioligand Therapy Market Size is valued at USD 1.8 Billion in 2023 and is predicted to reach USD 2.8 Billion by the year 2031 at a 5.60% CAGR during the forecast period for 2024-2031.
Radioligand therapy (RLT) is a cancer treatment strategy that uses targeted medicines. Radioactive isotopes, especially beta-emitters like lutetium-177, are used to identify ligands. It can yield a high rate of long-term tumor remission and stability. It is a systemic therapy used to treat metastasized disease. Radiopharmaceuticals bind to a tumor target in radioligand therapy. An increase in cancer prevalence around the world is expected to drive market growth over the forecast period. As radiopharmaceuticals and radiation are very successful, they are increasingly in demand for malignancies, fueling the expansion of the radioligand therapy market. The expansion of pharmaceutical companies' footprint is also expected to fuel the global radioligand therapy market.
Furthermore, the global radioligand therapy market is likely to be propelled by research and development of radioligand therapy candidates to treat a wide range of cancer types. With the growing demand for radiotherapy and government financing in this field, market participants are focusing more on the research, approval, and launch of worldly goods, particularly medications based on radioligands, which is propelling the market forward. However, over the next few years, the rapid development of radiological pharmaceuticals for targeted diagnosis and therapy is predicted to raise the radioligand therapy market sales value.
However, one of the key challenges limiting the implementation of radioligand therapy in emerging and developing economies is a lack of suitable healthcare infrastructure due to limited healthcare expenditure. Only a few healthcare facilities in undeveloped and emerging nations are now equipped to use sophisticated radiotherapy for cancer treatment. As a result, despite great demand, the number of radioligand therapy procedures is being limited. In addition, the growth of the radioligand therapy market is limited by high treatment costs and complicated reimbursement processes.
Market Segmentation:
The Radioligand Therapy market is segmented on the basis of target, indications and products. Based on a biomarker, the market is segmented as Prostate-Specific Membrane Antigen, Cancerous bone lesions, Somatostatin receptor type 2 (SSTR2). By indications, the market is segmented into Prostate Cancer, Neuroendocrine Tumor (NETs) and Others Indications. Based on products, the market is segmented into Approved Products and Potential Pipelines.
Based On Indication, The Prostate Cancer Segment Is Accounted As A Major Contributor In The Radioligand Therapy Market.
By indication, the market is segmented into Prostate Cancer, Neuroendocrine Tumor (NETs) and Others Indications. The prostate cancer segment is anticipated to lead due to the increased geriatric population, increased prevalence of prostate cancer, increased public awareness of prostate cancer treatment, increased R&D expenditure, and availability of innovative prostate cancer medicines. Prostate cancer is a kind of cancer in which abnormal cells in the prostate gland increase and expand uncontrollably. Prostate cancer is the sixth leading cause of death in men and the eleventh leading cause of death from any disease. Numerous prostate cancers are slow-growing and restricted to the prostate gland, where they are unlikely to cause major damage. Radioligand binds to prostate-specific membrane antigen and is used to treat prostate cancer (PSMA). In prostate cancer, prostate-specific membrane antigens (PSMA) are over-expressed.
The Approved Products Segment Witnessed Growth At A Rapid Rate.
The market is divided into approved products and potential pipelines based on product. The category of approved products accounts for a significant share of the industry. This is mostly due to the availability of a diverse variety of products, as well as the introduction of new and improved FDA-authorized and more effective techniques such as beta-emitters lutetium 177, prostate-specific membrane antigen (PSMA), and other approved cancer treatments. On the other hand, the potential pipeline segment is expected to grow at a substantial rate as leading companies in the radioligand therapy industry are making strategic acquisitions to Thus, the market is projected to be propelled during the forecast period by the approval and commercialization of potential pipeline products in the near future.
The North American Radioligand Therapy Market Holds A Significant Revenue Share In The Region.
North America is expected to dominate the radioligand therapy market over the forecast period. North America is the main market for radioligand therapy (RLT), owing to a high rate of product acceptance following FDA approval. With well-established market players and regular product launches in the region, clinical research activity and new product launches are increasing, hence driving the market growth in this region. Furthermore, increased awareness of radioligand therapy and an increase in the number of cancer patients in the United States are projected to fuel the market in the area.
The increase is ascribed to government initiatives to improve chronic disease treatment and the number of specialized cancer hospitals and research institutions. As a result, the growing number of government programmes aimed at improving oncologic practices expands the market for radioligand therapy in this region. Manufacturers are focusing on forming partnerships with laboratories for radioligand treatment candidate research and development, which is expected to push the market. However, the European market is expected to grow at a significant rate as the Europe's governments offer extensive reimbursement programmes. Additionally, growth in research laboratories, an increase in cancer prevalence, and an increase in government funding are expected to boost the market in the area during the projection period.
Competitive Landscape
Some Major Key Players In The Radioligand Therapy Market:
- Johnson & Johnson Services, Inc.,
- Pfizer Inc.,
- Bayer AG,
- Molecular Partners,
- ITM Isotope Technologies Munich SE,
- Amneal Pharmaceuticals LLC,
- Novartis International AG,
- POINT Biopharma Global Inc,
- Fusion Pharma, Clovis Oncology,
- Telix Pharmaceuticals,
- Lantheus Holdings, Inc. (Progenics Pharmaceuticals),
- Curium Pharma,
- Precirix
- Radio Medix
- Orano Med
- Other Prominent Players.
Radioligand Therapy Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 1.8 Billion |
|
Revenue forecast in 2031 |
USD 2.8 Billion |
|
Growth rate CAGR |
CAGR of 5.60 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
By Biomarkers, Indications, Products |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Johnson & Johnson Services, Inc., Pfizer Inc., Bayer AG, Molecular Partners, ITM Isotope Technologies Munich SE, Amneal Pharmaceuticals LLC, Novartis International AG, POINT Biopharma Global Inc, Fusion Pharma, Clovis Oncology, Telix Pharmaceuticals, Lantheus Holdings, Inc. (Progenics Pharmaceuticals), Curium Pharma, Precirix, Radio Medix and Other Prominent Players. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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