Over the past 20 years, there has been a significant change in how different cancer kinds are treated. Specific proteins in cancer cells that support their capacity to proliferate, divide, and spread are blocked by targeted medications. Immunotherapies combat cancer by either boosting or inhibiting the immune system. Surgery, chemotherapy, and radiation therapy remain the cornerstones of cancer treatment, nevertheless. Currently, scientists are developing a new class of drugs called radiopharmaceuticals that use radiation treatment to specifically and directly target cancer cells. Over the past few years, there has been a significant surge in research and clinical studies assessing new radiopharmaceuticals. In the middle of the 2010s, the FDA approved the use of two radiopharmaceuticals to treat selected patients with non-Hodgkin lymphoma, a kind of blood cancer. These agents target molecules on particular B cells. These drugs were never widely utilised, nevertheless. Few medical practitioners have the training necessary to provide these radioactive compounds to lymphoma patients. Additionally, radiopharmaceuticals were in competition with more contemporary, nonradioactive drugs. The FDA’s approval of lutetium Lu 177-dotatate (Lutathera) for the treatment of particular malignant neuroendocrine tumours (NETs) affecting the digestive system marked a turning point for the field in 2018, according to Jacek Capala, Ph.D., of the NCI’s Radiation Research Program. Researchers are now developing and testing radiopharmaceuticals for a variety of malignancies as diverse as melanoma, lung cancer, colorectal cancer, and leukaemia, paving the way for advanced radiopharmaceuticals. However, apart from some early radiopharmaceutical approvals such as of Zevalin and Xofigo, big pharma only began to take the field seriously after Advanced Accelerator Applications (AAA) forged the path with dotatate which tackles neuroendocrine tumors. Hence in the upcoming years, the global oncology radiopharmaceuticals market is expected to flourish.
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Segmental Analysis: Global Oncology Radiopharmaceuticals Market
In the last few years, the third fastest growing cancer diagnosis in the United States is thyroid cancer. According to estimates from the previous ten years, the yearly rate of growth would be 3%, doubling the incidence of thyroid cancer in 30 years. The use of iodine for thyroid cancer imaging and treatment is the oldest instance of a radiopharmaceutical. Most of the remaining iodine leaves the body through urine, with thyroid being the primary site of accumulation. After thyroid surgery, radioactive iodine is frequently used to eliminate any lingering malignant tissues. Since the use of iodine to treat thyroid cancer in the 1940s, the potential of such a treatment has been known for decades. But it has taken some time for radiopharmaceuticals to become effective cancer treatments in clinical settings. Thus, advancements in radiopharmaceuticals for various cancers will pave the growth of global oncology radiopharmaceuticals market during the forecast period.
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Asia Pacific region is anticipated to be the fastest growing region in the oncology radiopharmaceuticals market. Asia accounts for 60% of the world’s population and 50% of the cancer burden. According to estimates, the incidence of cancer cases will rise from 6.1 million in 2008 to 10.6 million in 2030 as a result of ageing and expanding populations, changes in lifestyle, and socioeconomic developments. Healthcare institutions as well as governmental organisations are investing in cutting-edge therapies like radiopharmaceuticals for oncology because cancer health services are still evolving and require significant investment to ensure equitable access to cancer care for all segments of the population. For instance, the number of oncology trials conducted over the last ten years has increased by 138% in the Asia-Pacific area in recent years, the highest rise of any region worldwide. The oncology radiopharmaceuticals market is thus anticipated to grow in the years to come given the aforementioned characteristics.
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The key market participants operating in the global oncology radiopharmaceuticals market are:
- Advanced Accelerator Applications, A Novartis Company
- Chimeric Therapeutics Limited
- Fusion Pharma
- Lantheus Medical Imaging, Inc.
- NanoMab
- NuView Life Sciences.
- PentixaPharm GmbH
- Precirix
- RadioMedix
- RayzeBio
- Telix Pharmaceuticals Limited
- Theragnostics Ltd
- Vect-Horus
- Other Market Participants
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Global Oncology Radiopharmaceuticals Market
By Clinical Trial Phase
- Phase I
- Phase II
- Phase III
By Application
- Thyroid cancer
- Brain cancer
- Lymphoma
- Others
By Mode of Administration
- Oral Drugs
- Intravenous Drugs
- Interstitial Drugs
By End-Users
- Hospitals and Clinics
- Pharmaceutical Companies
- Research Centers
- Others
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By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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