Burlingame, July 25, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global alpha emitter market is estimated to be valued at US$ 1,311.0 million in 2023 and is expected to exhibit a CAGR of 10.3% during the forecast period (2023-2030).
Analysts’ Views on Global Alpha Emitter Market:
Increasing in the adoption of growth strategies such as agreements to strengthen its product portfolio is expected to drive the growth of the market over the forecast period. For instance, in January 2022, IONETIX Corporation announced that it had signed a supply agreement for the therapeutic radioisotope astatine-211 (211At) with Precision Molecular, Inc. (PMI), a clinical-stage company, developing targeted radiopharmaceuticals and theranostics for patients with cancer.
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Key Trends and Analysis of the Global Alpha Emitter Market:
Increasing research and development
Increasing research and development by key market players for the treatment of patients with neuroendocrine tumors is expected to propel the segment growth over the forecast period. For instance,
Increase in adoption of organic growth strategies such as facility expansion
An increase in inorganic growth strategies such as facility adopted by key market players in is expected to drive the market growth. For instance, in March 2022, Telix Pharmaceuticals Limited., announced the opening of its radiopharmaceutical production facility in Brussels South in the Wallonia region of Belgium. The new facility will serve as the primary European manufacturing site for Telix’s products, aligning with the company’s strategic objective of maintaining control and reliability of its supply chain, as well as cost control. It will also be an integral hub for Telix’s R&D activities, specifically in for the scale-up of radioisotope production.
Global Alpha Emitter Market Cross Sectional Analysis:
In type of radionuclide segment, Radium (Ra-223) held a dominant segment in North America region due to the increasing approval of radioligand therapy by regulatory bodies for treatment of prostate cancer is expected to propel the market growth over the forecast period. According to article published in August 2022, by Radiation journal, a researcher from Kindai University, Japan, has investigated into the optimal Strategy of Radium-223 Therapy for Metastatic Castration-Resistant Prostate Cancer and concluded that early administration of Ra-223 was significantly associated with improved OS and that it might be beneficial to administer Ra-223 before novel hormonal or anticancer agents.
Alpha Emitter Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 1,331.0 Mn | |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 10.35% | 2030 Value Projection: | US$ 2,649.1 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Actinium Pharmaceutical Inc., Alpha Tau Medical Ltd, Bayer AG, Bracco, Cardinal Health, Eckert & Ziegle, Fusion Pharmaceuticals, IBA Worldwide, NorthStar Medical Radioisotopes (NMR), Orano Group, Viewpoint Molecular Targeting, RadioMedix, Telix Pharmaceuticals Limited., TerraPower, LLC, NIOWAVE Inc. and IONETIX Corporation. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Alpha Emitter Market: Key Developments
On December, 2020, Telix Pharmaceuticals Limited., announced that it has been granted Human Research Ethics Committees (HREC) approval and received CTN clearance by the TGA to commence Phase I study of the company’s next generation prostate cancer therapy product TLX592, in patients with advanced prostate cancer. TLX592 has been developed using Telix’s proprietary RADmAb engineered antibody technology. Like the company’s existing TLX591 antibody development program, TLX592 targets prostate specific membrane antigen (PSMA) – a target that is almost ubiquitously expressed by prostate cancer cells. TLX592 has been engineered to clear far more rapidly from a patient’s circulation, making it suitable for use as a targeting agent for 225Ac (actinium-225)
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In January 2022, RadioMedix, and Orano Med, a biotechnology company, announced the initiation of the Phase II clinical trial of AlphaMedix with the treatment of the first patient on December 21, 2021. This trial will evaluate the safety and effectiveness of 212Pb-DOTAMTATE (AlphaMedix) in Peptide Receptor Radionuclide Therapy (PRRT) of naive patients with somatostatin receptor-expressing neuroendocrine tumors (NET).
In November 2021, Viewpoint Molecular Targeting announced that it had entered into a Memorandum of Understanding (MoU) agreement with the National Nuclear Laboratory (NNL), a U.K. government owned and operated nuclear services technology provider that covers whole nuclear fuel cycle and to clinicians, in the U.K., and Europe, using Viewpoint’s proprietary isotope generator named VMT-GEN.
On February 6, 2023, Viewpoint Molecular Targeting announced merger with Isoray, Inc., a medical technology company. Both companies will focus on the advancement of cancer treatments by using radiation, radiopharmaceuticals, and imaging technologies so that precision, targeted medical doses are delivered directly to cancer patient tumor sites.
Key Market Takeaways:
The global alpha emitter market is expected to exhibit a CAGR of 10.3% during the forecast period, owing to increase in the adoption of growth strategies such as mergers, in order to strengthen its product portfolio. For instance, on February 6, 2023, Viewpoint Molecular Targeting announced merger with Isoray, Inc., a medical technology company. Both companies will focus on the advancement of cancer treatments by using radiation, radiopharmaceuticals, and imaging technologies so that precision, targeted medical doses are delivered directly to cancer patient tumor sites.
Among end user, the hospital segment is estimated to hold a dominant position in the global alpha emitter over the forecast period due to increasing in the number of hospitals and increasing number of patient admitted per year in hospitals are expected to drive the growth of the segment over the forecast period. For instance, according to a factsheet published by the American Hospital Association in October 2022, there were more than 6,093 hospitals in the U.S. in 2020 and total admissions in all the U.S. hospitals was more than 33,356,853.
On the basis of region, North America is estimated to account for the largest market share in the global alpha emitter market over the forecast period due to the increasing product approvals by the regulatory authorities. For instance, in November 2022, Novartis, a pharmaceutical corporation, announced that the U.S. Food and Drug Administration (FDA) had approved Pluvicto (lutetium Lu 177 vipivotide tetraxetan) for the treatment of adult patients with a type of advanced cancer called prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) which spreads to other parts of the body (metastatic). Such patients are selected to the trials who have already been treated with other anticancer treatments (androgen receptor pathway inhibition and taxane-based chemotherapy) but the treatment was not effective.
Competitive Landscape:
Key players operating in the global alpha emitter market include Actinium Pharmaceutical Inc., Alpha Tau Medical Ltd, Bayer AG, Bracco, Cardinal Health, Eckert & Ziegle, Fusion Pharmaceuticals, IBA Worldwide, NorthStar Medical Radioisotopes (NMR), Orano Group, Viewpoint Molecular Targeting, RadioMedix, Telix Pharmaceuticals Limited., TerraPower, LLC, NIOWAVE Inc. and IONETIX Corporation.
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Market Segmentation:
Global Alpha Emitter Market, By Type of Radionuclide:
- Radium (Ra-223)
- Actinium (Ac-225)
- Lead (Pb-212)
- Astatine-211
- Bismuth-213
- Others
Global Alpha Emitter Market, By Source:
- Natural Sources
- Uranium-238
- Radium-226
- Artificially Produced Sources
- Plutonium
- Americium
- Curium
- Californium
Global Alpha Emitter Market, By Application:
- Bone Metastases
- Prostate Cancer
- Neuroendocrine Tumors
- Ovarian Cancer
- Others
Global Alpha Emitter Market, By End User:
- Hospitals
- Specialty Clinics
- Diagnostic Centers
- Others
Global Alpha Emitter Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
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