Italy Peptide Receptor Radionuclide Therapy (Prrt) Market Estimated...

Italy Peptide Receptor Radionuclide Therapy (Prrt) Market Estimated To Witness High Growth Owing To Increasing Incidence Of Neuroendocrine Tumors

Сообщение 2023-12-13 12:32:32

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The Italy Peptide Receptor Radionuclide Therapy (PRRT) market is estimated to be valued at US$ 591.83 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Peptide receptor radionuclide therapy or PRRT is a form of nuclear medicine therapy which is used for treating cancers like neuroendocrine tumors. It involves injection of radionuclides attached to peptides that bind to overexpressed receptors on cancer cell surfaces. This allows delivery of radiation directly to the tumor cells with minimal exposure to neighboring normal tissues. PRRT finds widespread adoption for treating gastroenteropancreatic neuroendocrine tumors or GEP-NETs as these cancers often overexpress somatostatin receptors on their surface.

Market Dynamics:
The Italy PRRT market is primarily driven by the increasing incidence of neuroendocrine tumors in the region. According to Italian Association of Cancer Registries, neuroendocrine tumors were diagnosed in over 5,300 new patients in 2015 in Italy. The growing prevalence of GEP-NETs especially drives the adoption of PRRT as these tumors often overexpress somatostatin receptors, making them ideal for PRRT treatment. Furthermore, rising approval of PRRT drugs also supports market growth. For instance, in 2020, the Italian regulatory agency AIFA approved use of 177Lu-PSMA-617 (Pluvicto) for therapy of prostate cancer. However, lack of uniformity in reimbursement policies across different regions of Italy poses a challenge for widespread adoption of high-cost PRRT drugs. Moreover, dearth of skilled practitioners trained in theranostic procedures hinders market growth to some extent.

SWOT Analysis
Strength: The Italy PRRT market has a strong oncology base and a large population base with high disease burden. The clinical evidence for PRRT's effectiveness in treating neuroendocrine tumors (NETs) have increased its adoption. Strong reimbursement policies are also supporting the market growth.
Weakness: High costs associated with PRRT therapies limits its usage. Requirement of specialized infrastructure and trained medical professionals also poses challenges.
Opportunity: Increasing incidences of cancer and NETs in the country presents new patient pool. Growing awareness about personalized medicine approach for cancer treatment creates conducive environment.
Threats: Stringent regulatory pathways for novel therapies increases time to launch. Entry of alternative non-targeted drugs can affect market demand.

Key Takeaways
The Global Italy Peptide Receptor Radionuclide Therapy (PRRT) Market Size is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing incidences of neuroendocrine tumors. Regional analysis shows that Northern Italy dominates nearly half of the Italy PRRT market share due to presence of leading hospitals and institutions supporting PRRT practices.

The global Italy PRRT Market size for 2023 is US$ 591.83 Mn. Regional analysis Northern Italy is the fastest growing region in the Italy PRRT market. It holds around 46% of the market share due to presence of major hospitals and cancer institutes offering research and treatment using PRRT.

Key players operating in the Italy PRRT market are Advanced Accelerator Applications (AAA), Progenics Pharmaceuticals, Inc. and Alpha Tau Medical Ltd. AAA is a leading player with a wide product portfolio and robust clinical data to support PRRT practices in oncology.