Number of pages: 100 | Report Format: PDF | Published date: February 15, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global radioligand therapy (RLT) market was valued at US$ 4.29 billion in 2021 and is expected to register a revenue CAGR of 7.8% to reach US$ 8.43 billion by 2030.
Radioligand Therapy (RLT) Market Fundamentals
Radioligand therapy is a novel method of treating some types of cancer. It provides radiation to cancer cells while having little effect on healthy cells. Radioisotopes and ligands are two radioligand components that target cells in radioligand therapy. Nuclear reactors or generators generate therapeutic radioisotopes, which are subsequently sent to a manufacturing facility and bonded to a cell-targeting chemical. It is then packaged in lead-free containers and distributed in vials to hospitals and clinics.
Targeted radioisotope therapies for thyroid cancer and prostate bone metastases have given rise to radioligand therapy. Radioligand therapy provides cellular-level precision to radioisotope therapy. For diagnostic and therapeutic purposes, radioligands can bind to cancer cells wherever in the body. Focused therapy reduces collateral damage. Radioligand therapy can be used to treat neuroendocrine tumors and lymphomas. This therapy may improve the quality of life for cancer patients who have few other treatment alternatives. Greater integration of nuclear medicine into care models, workforce planning, and hospital resourcing is required to guarantee that it can be appropriately incorporated into cancer care. This treatment may also assist non-cancerous tumors and metastatic castration-resistant prostate cancer.
Radioligand Therapy (RLT) Market Dynamics
The growing geriatric population, public and private funding for targeted cancer research, high awareness of alpha radioimmunotherapy, and product innovation and development as a result of technical developments are expected to present profitable prospects for market players. Internet penetration is anticipated to increase, as will the use of radioisotopes in healthcare. The increasing use of radiopharmaceuticals in neurological applications and rising per capita healthcare expenditure will also have a positive impact on the market revenue growth. According to the World Health Organization (WHO), cancer is the second biggest cause of death in the world, accounting for around 9.6 million deaths in 2018. Additionally, the governments are taking initiatives and raising cash to lessen the cancer burden. For instance, in February 2021, the European Commission published Europe’s Beating Cancer Pain strategy, which intends to provide cancer services with a focus on illness prevention and early diagnosis. The European Union intends to invest more than $4.2 billion in cancer research and care by 2022. As radiopharmaceuticals and radiation are very successful, they are increasingly being used to treat malignancies, fueling the expansion of the radioligand therapy (RLT) market.
Radioligand Therapy (RLT) Market Ecosystem
The global radioligand therapy (RLT) market has been analyzed from three perspectives: drug class, indication, and region.
Radioligand Therapy (RLT) Market by Drug Class
Based on drug class, the global radioligand therapy (RLT) market is segmented into anti-androgen, therapeutic radiopharmaceuticals, and others.
The anti-androgen segment showed an incremental opportunity during the forecast period. Androgens are hormones that control the development of sex traits. People who are born with masculine sex traits typically have high amounts of androgens. People who are born with female traits have low levels of androgens. Instead, they frequently have excessive estrogen levels. Anti-androgen medications act by inhibiting the effects of androgens like testosterone. They accomplish this by attaching to proteins known as androgen receptors. They attach to these receptors, preventing androgens from binding to them.
Radioligand Therapy (RLT) Market by Indication
Based on indication, the global radioligand therapy (RLT) market is segmented into prostate cancer, gastroenteropancreatic neuroendocrine tumors (Gep-Nets), and others.
The prostate cancer segment dominates the global market due to the rising elderly population, higher prevalence of prostate cancer, greater public awareness of prostate cancer therapy, increased R&D expenditure, and availability of novel prostate cancer medicines. Prostate cancer is a type of cancer that occurs when abnormal cells in the prostate gland grow and multiply uncontrollably. Prostate cancer is the sixth most common cause of mortality in males and the eleventh most common cause of death overall. Many prostate cancers are slow-growing and limited to the prostate gland, where they are unlikely to cause significant harm. Radioligand is used to treat prostate cancer by binding to prostate-specific membrane antigens (PSMA), which are overexpressed in prostate cancer.
Radioligand Therapy (RLT) Market by Region
Based on region, the global radioligand therapy (RLT) market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
The market in North America is predicted to develop at significant revenue CAGR during the forecast period. The United States and Canada are the two largest contributors to the revenue growth of this market. The expansion of the beauty industry, as well as the increased development of technology in emerging nations, have all contributed to the rise of the North American market. North America is more likely to adopt technologically advanced and creative solutions and equipment. The increased consumer awareness about the availability of various radioligand therapies, as well as the increase in the patient base suffering from cancer, has fueled the region’s market expansion. Moreover, these factors also necessitate radioligand therapy research and development in the region, which promotes radioligand therapy demand. Furthermore, the growing elderly population, new product releases, and varied regional market development strategies would fuel market expansion. The rising focus of pharmaceutical manufacturers on collaborating with laboratories has also greatly contributed to revenue growth in the region.
As several government authorities from Europe are offering comprehensive reimbursement programs, the market in this region is likely to grow at a rapid pace. Furthermore, the expansion of research laboratories, an increase in cancer prevalence, and a growth in government funding are projected to enhance the market during the forecast period.
Radioligand Therapy (RLT) Market Competitive Landscape
The prominent market player in the global radioligand therapy (RLT) market include:
Radioligand Therapy (RLT) Market Strategic Developments
The indication segment leads the global radioligand therapy (RLT) market.
Radioligand therapy (RLT) is a cancer treatment technique that employs tailored medications. Radioactive isotopes, particularly beta-emitters such as lutetium-177, are utilized to detect ligands. It has the potential to produce a high rate of long-term tumor remission and stability. It is a systemic medication used to treat a disease that has spread.
The global radioligand therapy (RLT) market is expected to reach a value of US$ 8.43 billion by 2030.
The global radioligand therapy (RLT) market is expected to register a revenue CAGR of 7.8% during the forecast period.
Johnson & Johnson Services, Inc., Pfizer Inc., Bayer AG, Molecular Partners, ITM Isotope Technologies Munich SE, and Amneal Pharmaceuticals LLC are among the top market players.
*Insights on financial performance are subject to availability of the information in the public domain