Alpha Emitters Market - Segmented by Type of Radionuclide, Medical Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global alpha emitter market accounted for USD 408.0 million in 2017, witnessing a CAGR of 36.69% over the period of 2018-2023 (henceforth, referred to as the forecast period). In therapeutic radiopharmaceuticals, radionuclides with alpha emitters play a significant role in treating cancers. Properties of alpha emitters have led to exert profound differences between this field and other fields of nuclear medicine. Due to their short range and high LET (deposit energy in a unit length of their pathway), alpha particles have remarkably been considered into medical research. Except for Radium-223, no other alpha-emitting radioisotope has received regulatory approval so far, and currently, all other alpha emitters are either undergoing clinical trials or are being used in research.
Increasing Incidence of Cardiac and Cancer Ailments Drives the Alpha Emitters Market
The American Cancer Society, the leading body in cancer stats and figures, reported 1,685,210 estimated new cancer cases and 595,690 deaths, owing to cancer, in 2016. The US National Cancer Institute reported that more than 60% of the world’s new cancer cases occur in Africa, Asia, and Central and South America. About 70% of the world’s cancer deaths also occur in these regions. International Agency for Research on Cancer (IARC) predicts - by 2030, the global burden is expected to grow to 21.7 million new cancer cases and 13 million cancer deaths simply due to a growth and ageing of the population, leaving aside factors, like smoking, poor diet, physical inactivity, and fewer childbirths, in economically developing countries. Moreover, the data presented by WHO, which states that 8.2 million people die every year from cancer, an estimated 13% of all deaths worldwide, indicates that cancer is one of the major life-threatening diseases. An increase of 70% is predicted in new cases of cancer expected over the next two decades and to top it all, more than 100 cancer types exist, requiring unique diagnosis and treatment. This global and extensive threat of cancer remains a major market driver for new cancer therapies involving alpha emitters and a monoclonal antibody.
Stringent Regulatory Framework and Reimbursement Issues Acts as a Major Barrier for the Alpha Emitters Market
The global production of radiopharmaceuticals, unlike conventional pharmaceuticals production, is still in the nascent stage. Implementing cGMP guidelines, which are applicable to the drug industry, is both difficult and expensive. For small-scale manufacturers of radiopharmaceuticals, ensuring cGMP compliance is a demanding task. Application of clean room requirements in radioisotope laboratories is technically demanding as they are required to conform to both radiological and pharmaceutical safety standards.
Additionally, there are problems associated with the transportation of radioactive materials. Some countries follow a practice of holding up all the cargo at the airports, at times, for a pre-destined period (24 to 48 hours) before being loaded on the plane, as part of security check standards. This practice affects the radiopharmaceuticals due to additional decay losses, especially when dealing with short-lived radioactive materials and this is more affected with the stringent regulatory framework, which further delays in transportation, and lack of transportation compliance, along with the fragile nature of radiopharmaceuticals with a short half-life, are impeding the growth of the alpha emitters market.
Market Segmentation Insights for the Alpha Emitters Market
The global alpha emitter market is segmented on the basis of the type of radionuclide and medical application. The type of radionuclide is further segmented into Terbium (Tb-149), Astatine (At-211), Bismuth (Bi-212), Actinium (Ac-225), Radium (Ra-223), Lead (Pb-212) and Bismuth (Bi -213). Radium has the largest share in the market as it is more effective in a cancer treatment than bone-pain-palliation agents because the alpha particles are highly efficient in cell-killing. Also, Radium-223 is currently the only Alpha Emitting radioisotope that is FDA approved and is also currently the most widely used Alpha Emitting Radioisotope. Astatine (At-211) has the highest CAGR in the market.
On the basis of medical application, it is further segmented into Glioma, Melanoma, Pancreatic Cancer, Ovarian Cancer, Thyroid, Bone Metastasis, Lymphoma, Endocrine Tumors and others. Bone metastasis has the largest share in the market as they are emitter used for the treatment of bone metastases, and is currently Radium- 223 α-particle that has been approved by the US FDA. However, melanoma has the highest CAGR owing to increasing research and development activities to use alpha particles in the treatment of tumours.
The US is the Largest Consumer Market for Radiopharmaceuticals
The market for alpha-emitters in the United States is growing rapidly. The United States accounted for the largest global market share in 2017. The high-end research trend in the United States, coupled with high investments in healthcare research and abundant knowledge in cancer research, is the key factor propelling the growth of the market in this country. The government initiatives and trends toward the adoption of technologically-advanced products for healthcare are also fuelling the market growth. The United States also has the largest market for monoclonal antibodies. It is observed that, there is an increase in research on radiolabelling monoclonal antibodies with alpha emitters. The drug with high efficacy will create a huge market due to the high unmet need for curative cancer therapeutics. Actinium Pharmaceuticals, based in New York, United States, is one of the Major Players in this market and is carrying out breakthrough research in the field.
Key Developments in the Market
- Dec 2017- The US Department of Energy’s National Nuclear Security Administration (DOE/NNSA) and South African Nuclear Energy Corporation’s NTP Radioisotopes SOC Ltd (NTP) completed the conversion of their critical medical isotope molybdenum-99 (Mo-99) production process from highly-enriched uranium (HEU) to low-enriched uranium (LEU)
- Nov 2017- Actinium Pharmaceuticals launched the AWE Program aka Actinium Warhead Enabling Program to enable collaborations based on Its Actinium-225 Technology Platform
- Nov 2017- Alpha Tau Medical entered a collaboration with IRST Italy to treat its first cancer patients. This is a significant progress toward international expansion. It will enable the availability of Alpha DaRT radiotherapy not only in Israel but in Europe, Asia, as well as the United States.
Major Players -IBA Radiopharma Solutions, Bayer AG, Alpha Tau Medical Ltd, Actinium Pharmaceutical Inc., Telix Pharmaceuticals Ltd, RadioMedix Inc., and Fusion Pharmaceuticals among others.
Reasons to Purchase the Report
- Current and future global alpha emitters market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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