(MENAFN- GlobeNewsWire - Nasdaq) According to Straits Research,“The global alpha emitter market size was valued at USD 146.96 million in 2022. It is projected to reach USD 601.59 million by 2031, growing at a CAGR of 13.67% during the forecast period (2023-2031).”
New York, United States, April 04, 2024 (GLOBE NEWSWIRE) -- Alpha emitters are substances emitted by radioactive sources that decay after releasing alpha particles. They achieve the appropriate biodistribution and related dose distribution to provide successful therapy without producing severe short- or long-term side effects. Due to their high cell death rates, alpha particles in medical procedures are more destructive to tumor cells than beta particles. They consequently cause less damage to the nearby healthy tissues. Radium, lead, and bismuth are a few radionuclides used in the therapeutic process.
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Increasing Prevalence of Cancer Drives the Global Market
As cancer incidence rises, targeted anticancer/Alpha therapy is becoming more and more popular (TAT). Radioimmunotherapy using short-range, high-efficiency particles has promised to treat several chronic conditions. In targeted therapy, -particles' capacity to kill cells is outstanding. Alpha emitter radiation therapy is beneficial for the treatment of chronic illnesses. Cancer is the second most common cause of death worldwide, behind heart disease. Alpha particles are a more direct method of treatment, supplying energy straight to the DNA of cells and fatally sabotaging chemical reactions. In addition to being investigated for various cancers, it is highly sought after to treat prostate cancer that has spread to the bones. The nearby healthy tissue may sustain less harm from the alpha emitters. It is therefore projected that over the projection period, the industry under consideration will proliferate.
Increased Awareness about the Potential Benefits of Targeted Alpha Therapy Creates Tremendous Opportunities
Targeted anticancer/alpha treatment (TAT) is getting more and more popular as cancer incidence rises. Medical experts and scientific communities worldwide are becoming more aware of the potential advantages of using customized medications to treat certain conditions. Targeted therapy has been the focus of substantial studies due to this increased awareness. The many components of this therapy are still being studied. Targeted alpha therapy is now being tested in several clinical trials and has shown promise in treating disseminated and micro-metastatic malignancies without any unavoidable or severe effects. Because they offer a rapid and painless process, nuclear drugs represent a promising market for the early detection and imaging of numerous diseases.
Regional Analysis
North America is the most significant revenue contributor and is expected to grow at a CAGR of 14.37% during the forecast period. The United States owns the most important proportion of the market under investigation due to the existence of substantial market participants and the rising prevalence of infectious and chronic diseases. The country also boasts the most established domestic suppliers of radioactive commercial raw materials and the most foreign suppliers. The increase in cancer cases and chronic neurological illnesses is the primary factor driving the market's growth in the US. For instance, the Bayer AG product 223RaCl2 (Xofigo) was the first alpha-emitting radioisotope authorized in the US for palliative therapy of prostate cancer bone metastases via indirect physiological targeting. Canada's particle accelerator center, which primarily employs At-211 and A-209 and is funded by the Canadian Cancer Society Innovation, is one of the largest alpha therapy research centers. The country's top nuclear research and technology facility, Canadian Nuclear Laboratories (CNL), has also increased its attempts to create TAT agents.
Europe is expected to grow at a CAGR of 15.38%during the forecast period. The key factors driving the alpha emitter market in the UK are the rising prevalence of chronic and infectious diseases and the expansion of radiopharmaceutical research and development. Many businesses are launching projects to use radiopharmaceuticals to cure diseases like cancer. Ra-223, Bi-213, and Pb-212 are the main research areas in the aforementioned European countries. Since Bayer's medication has been available in the European Union for the past five years, the rest of Europe, particularly Norway and the Benelux nations, has become the medication's largest share partner.
Key Highlights
Based on radionuclide, the global alpha emitter market is bifurcated into radium (Ra-223), actinium (Ac-225), and lead (Pb-212). The radium (Ra-223) segment is the highest contributor to the market and is estimated to grow at a CAGR of 3.22% during the forecast period.
Based on medical application, the global alpha emitter market is bifurcated into prostate cancer, bone metastases, ovarian cancer, pancreatic cancer, endocrine tumors, and other medical applications. The prostate cancer segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.34% during the forecast period. North America is the most significant revenue contributor and is expected to grow at a CAGR of 14.37% during the forecast period.
Competitive Players
The global alpha emitter market's major key players are Actinium Pharmaceutical Inc., Alpha Tau Medical Ltd, Bayer AG, Fusion Pharmaceuticals, Novartis Ag (Endocyte Inc.), Orano Group (Orano Med), and Telix Pharmaceuticals Ltd .
Market News
In August 2022, Alpha Tau Medical Ltd.s, the developer of the innovative alpha-radiation cancer therapy Alpha DaRTTM, reported second-quarter 2022 financial results and provided a corporate update. In November 2022, Actinium announced Positive 1-Year and 2-Year Overall Survival Data for Patients with Relapsed or Refractory AML in the Phase 1 Actimab-A CLAG-M Combination Trial.
Global Alpha Emitter Market: Segmentation
By Radionuclide
Radium (Ra-223) Actinium (Ac-225) Lead (Pb-212)
By Medical Applications
Prostate Cancer Bone Metastases Ovarian Cancer Pancreatic Cancer Endocrine Tumors Other Medical Applications
By Regions
North America Europe Asia-Pacific LAMEA
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About Straits Research Pvt. Ltd.
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