July 19, 2024
Alpha Emitter Market

Global Alpha Emitter Market Is Estimated To Witness High Growth Owing To Increasing Use of Alpha Emitters in Targeted Alpha Therapy

The global Alpha Emitter market is estimated to be valued at US$ 1,331.0 million in 2023 and is expected to exhibit a CAGR of 10.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Alpha emitters are radioactive isotopes that emit alpha particles, which are highly effective in destroying cancer cells. These alpha particles have a short range and high linear energy transfer, making them ideal for targeted alpha therapy (TAT). TAT is a promising approach for cancer treatment, as it delivers a high dose of radiation directly to cancer cells while sparing healthy tissues.

B) Market Dynamics:

The global Alpha Emitter market is driven by two key factors. The first driver is the increasing prevalence of cancer worldwide. According to the World Health Organization (WHO), cancer is the second leading cause of death globally, and the number of new cancer cases is projected to rise by 70% over the next two decades. This growing burden of cancer is driving the demand for innovative and effective cancer therapies such as targeted alpha therapy.

The second driver is the advancements in alpha emitter-based treatments and the increasing adoption of targeted alpha therapy. Several pharmaceutical companies and research institutions are investing in the development of alpha-emitter-based therapies for various types of cancer. For example, Actinium Pharmaceuticals Inc. and Alpha Tau Medical Ltd. are developing alpha-emitter-based therapies for the treatment of solid tumors. These advancements and the increasing adoption of targeted alpha therapy are expected to drive the growth of the alpha emitter market.

C) Segment Analysis:

The alpha emitter market can be segmented based on type, application, and end-user. Based on type, the market can be segmented into Actinium-225, Thorium-227, Radium-223, and others. The Actinium-225 segment is expected to dominate the market due to its high therapeutic efficacy and increasing use in targeted alpha therapy.

D) PEST Analysis:

Political:

The regulatory environment plays a crucial role in the alpha emitter market. The approval process for alpha emitter-based therapies can be complex and time-consuming, which can hinder market growth.

Economic: The high cost of alpha-emitter-based therapies is a major economic factor that can limit market growth. However, the increasing investments in research and development activities in the healthcare sector are expected to drive market growth.

Social:

The increasing awareness about targeted alpha therapy as an effective cancer treatment option is driving the social acceptance of alpha emitter-based therapies.

Technological:

Technological advancements in the production and delivery of alpha emitters are enhancing the efficacy and safety of targeted alpha therapy, which is driving market growth.

E) Key Takeaways:

– The global Alpha Emitter market is expected to witness high growth, exhibiting a CAGR of 10.3% over the forecast period, due to the increasing prevalence of cancer and advancements in alpha emitter-based treatments.

– North America is expected to be the fastest-growing and dominating region in the alpha emitter market, owing to the presence of key market players, favorable reimbursement policies, and growing investments in cancer research.

– Key players operating in the global Alpha Emitter market include Actinium Pharmaceutical Inc., Alpha Tau Medical Ltd, Bayer AG, Bracco, Cardinal Health, Eckert & Ziegle, Fusion Pharmaceuticals, IBA Worldwide, NorthStar Medical Radioisotopes (NMR), Orano Group, Viewpoint Molecular Targeting, RadioMedix, Telix Pharmaceuticals Limited., TerraPower, LLC, NIOWAVE Inc., and IONETIX Corporation. These players are focused on strategic collaborations, acquisitions, and product launches to strengthen their market position and expand their product portfolio.

In conclusion, the global Alpha Emitter market is expected to witness high growth in the coming years, driven by the increasing use of alpha emitters in targeted alpha therapy for cancer treatment. Advancements in alpha-emitter-based therapies and the growing burden of cancer worldwide are expected to fuel market growth. However, regulatory complexities and the high cost of therapies may pose challenges to market growth.