Dublin, June 23, 2023 (GLOBE NEWSWIRE) -- The "Radioligand Therapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global radioligand therapy market is anticipated to observe impressive growth during the forecast period, 2023-2027.
The major factors, including the rising incidence of various types of cancers and increasing awareness of alpha radioimmunotherapy, are propelling the growth of the market. Radioligand therapy is an advanced approach to treat certain kinds of cancer. It provides radiation to targeted cancer cells, with a negligible effect on healthy cells.
This therapy provides life-enhancing treatment for patients with cancer who have inadequate therapeutic options. The other factors supporting the market's growth are a growing world population, large patient pool, rising product innovation and development due to technological advancements, increasing government investments, increasing radioisotopes in healthcare, rising per capita healthcare expenditure, growing number of mergers and strategic acquisitions, and a large number of clinical trials.
Rising Incidence of Various types of Cancers
Cancer is a leading cause of death across the world. The growing prevalence of various types of cancers, especially prostate cancer and neuroendocrine tumors, is bolstering the growth of the market. According to the International Agency for Research on Cancer (IARC), in 2018, there were approximately 17.0 million new cancer cases and 9.5 million cancer-related deaths across the world.
Prostate cancer and neuroendocrine tumors are the most common cancer, especially in American men. As per the American Cancer Society, in 2019, around 174,650 new cases of prostate cancer were detected in the U.S. Owing to the rise in the number of patients suffering from cancer, the surge in demand for radioligand therapy is driving the growth of the market.
Increased Awareness of Alpha Radioimmunotherapy and Rise in R&D Activities
Alpha Radioimmunotherapy is a targeted anti-tumor therapy that provides successful treatments. Therefore, the rise in awareness among people and physicians regarding alpha-radioimmunotherapy is bolstering the growth of the market.
In addition, the rise in research & development of radioligand therapy to treat a wide range of cancer types is augmenting the global radioligand therapy market, globally.
The advent of novel methods, such as lutetium 177, prostate-specific membrane antigen (PSMA), and others, for the treatment of cancer is due to continuous research and development activities. For instance, POINT Biopharma Global Inc. is planning to enter the market for radioligand therapy with the PNT2003 drug, which is presently in the last phases of clinical trials.
Increasing Investments and rising Initiatives by the Government
The rise in investments and various initiatives by governments to reduce the cancer burden is propelling the growth of the market. For instance, in 2021, the European Commission launched Europe's Beating Cancer Plan, which aims to offer cancer services with a focus on disease prevention and early diagnosis. Later, in 2022, the European government intended to pour over $4.2 billion into cancer research and care.
Companies Mentioned
- Novartis International, AG
- Johnson & Johnson
- Pfizer, Inc.
- Amneal Pharmaceuticals LLC.
- POINT Biopharma Global Inc
- Fusion Pharmaceuticals Inc.
- Clovis Oncology, Inc.
- Telix Pharmaceuticals Limited
- Lantheus Holdings, Inc.
- Progenics Pharmaceuticals
- Bayer AG
Market Segmentation
by Indication:
- Prostate Cancer
- Neuroendocrine Tumor
- Others
by Product:
- Lutathera
- Zytiga
- Xtandi
- Xofigo
by Biomarker:
- Prostate-Specific Membrane Antigen
- Ki 67 Expression and Grading
- Cytochrome P450 17A1 Inhibitor
by End User:
- Biotechnology & Pharmaceutical Companies
- Academic & Research Institutions
- Others
by Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/qfk25t
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