Market Overview:
Nuclear alpha emitter therapy uses radioactive particles that emit alpha radiation to treat cancer. Alpha emitters such as actinium-225, bismuth-213, and radium-223 are attached to monoclonal antibodies that bind to cancer cells, delivering cell-killing radiation directly to the tumors. This innovative therapy reduces side effects and improves treatment outcomes for patients.
Market Dynamics:
The growth of the nuclear alpha emitter market is driven by increasing R&D investment in targeted alpha therapy and rising prevalence of cancer globally. Targeted alpha therapy has shown promising results for treating difficult-to-cure cancers such as glioblastoma and acute myeloid leukemia with high selectivity and potency. Pharmaceutical companies are conducting clinical trials to evaluate the efficacy and safety of alpha emitters. For instance, Actinium Pharmaceuticals is assessing Actimab-A in late-stage clinical trials for acute myeloid leukemia. Additionally, favorable regulatory environment and availability of funding are encouraging more companies to enter this market, thereby fueling market growth over the forecast period.
The global Alpha Emitter Market Share is estimated to be valued at US$ 1,331.0 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Alpha Emitter market is expected to grow at a significant rate during the forecast period owing to increasing prevalence of cancer globally. Alpha emitting isotopes targeted towards cancer cells allows for highly localized and selective radiation therapy with minimal damage to surrounding healthy tissues. Alpha emitters have path lengths often less than 100 micrometers which makes them suitable for treatment of microscopic metastases.
Weakness: High production and procurement costs associated with alpha emitter isotopes restricts their widespread adoption. Complex production processes and stringent regulations surrounding the handling of radioactive materials increases the overall cost burden on healthcare systems.
Opportunity: Growth of molecularly targeted radionuclide therapy provides lucrative opportunities for key players in the alpha emitter market. Ongoing research aiming to expand applications of alpha emitters to treat hematological and neurological disorders also presents new avenues.
Threats: Stringent regulations pertaining to radioactive materials handling poses challenges for market expansion. Safety concerns regarding inadvertent radiation exposure additionally risk undermining overall growth prospects.
Key Takeaways
The global Alpha Emitter market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of cancer globally. According to WHO, cancer burden is projected to grow to 27.5 million new cases and 16.3 million cancer deaths by 2040.
Regional analysis
North America dominates the global alpha emitter market and is expected to continue its dominance over the forecast period. This is attributed to rising cancer incidence, presence of advanced healthcare infrastructure and availability of reimbursement. Asia Pacific exhibits the fastest growth rate owing to growing healthcare expenditure, increasing patient pool and technological advancements.
Key players
Key players operating in the Alpha Emitter market are 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.
Read More: https://blogger-veritas.blogspot.com/2023/11/alpha-emitter-market-segment-fueling.html
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