April 23, 2024
Italy Peptide Receptor Radionuclide Therapy (PRRT) Market

Oncology Drugs Is The Largest Segment Driving The Growth Of Italy Peptide Receptor Radionuclide Therapy (PRRT) Market

Peptide receptor radionuclide therapy (PRRT) is a form of targeted therapy which involves the use of radiolabeled neuropeptide analogs binding to neoplastic cells overexpressing specific neuropeptide receptors. This allows delivery of cytotoxic radiation directly and precisely to the tumor site with minimal radiation exposure to normal tissues.

 

The global Italy Peptide Receptor Radionuclide Therapy (PRRT) Market is estimated to be valued at US$ 591.83 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:
One of the major trend in the Italy PRRT Market is the rising adoption of pretargeted radioimmunotherpy approach. In this approach, a monoclonal antibody delivers a hapten to the tumor, and a second compound, consisting of the radiolabeled small molecule, binds to the hapten on the tumor several hours later. This allows more time for clearance of unbound radiolabeled compound from the bloodstream and normal tissues, allowing delivery of higher radiation doses to the tumor with less toxicity to normal tissues. This pretargeted strategy offers considerable potential advantages over direct radiolabeled antibodies.

SWOT Analysis
Strength: Italy has a large population of cancer patients. The growing prevalence of neuroendocrine tumors in Italy is driving the demand for peptide receptor radionuclide therapy.
Weakness: Higher costs associated with PRRT compared to other treatment options. Limited availability of expertise and infrastructure for PRRT.
Opportunity: Increasing investment by pharmaceutical companies to support clinical trials evaluating new PRRT systems. Growing demand and government support for cancer treatment presents an opportunity to expand PRRT access.
Threats: Strong competition from alternative cancer therapies especially targeted drug therapies. Stringent regulations can delay market approval of new PRRT products.

Key Takeaways
The Global Italy Peptide Receptor Radionuclide Therapy (PRRT) Market Size is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing prevalence of neuroendocrine tumors and other cancers treatable with PRRT. The market size for 2023 is US$ 591.83 Mn.

Regional analysis: Italy dominates the PRRT market in Europe due to large cancer population and advanced healthcare infrastructure. The country leads clinical research on PRRT applications as well. Northern Italy is expected to be the fastest growing regional market through 2030 supported by leading medical facilities and academic centers focusing on nuclear medicine and radiation oncology.

Key players operating in the Italy Peptide Receptor Radionuclide Therapy (PRRT) market are Advanced Accelerator Applications (AAA). Other prominent players include Progenics Pharmaceuticals, Inc., ANSTO, Lake Healthcare Pvt. Ltd. Market players are focusing on expanding manufacturing facilities and commercial sales teams to strengthen market presence. Partnerships with clinical researchers and hospitals are helping companies to gain positive reimbursement policies and guidelines for new PRRT technologies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it