Radioligand Therapy Market To Surpass $13,073.9 Million Value by 2030, Predicts P&S Intelligence

NEW YORK, June 17, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, in 2021, the global radioligand therapy market was worth $7,785.6 million, which is set to touch $13,073.9 million by 2030, advancing at a 5.9% CAGR from 2021 to 2030. The count of FDA-approved radioligand medications with low side-effects has increased significantly in recent years. The development is aided by an increase in cancer therapy research funding and a growing need for more-effective medications.

In February 2021, the European Commission, for example, unveiled Europe's Beating Cancer Plan. The goal of the strategy is to provide cancer care with a focus on illness prevention and early detection. The European Union intends to invest over $4.2 billion in cancer research and treatment by 2022.

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Key Findings of Radioligand Therapy Market Report

• During the projection period, the U.S. radioligand therapy market size will rise at a rapid pace. The surge in the number of specialist cancer research centers and hospitals can be traced to the government programs aimed at improving chronic illness care.
• Radiopharmaceuticals are predicted to gain a significant role in medicine, as a result of the advancements in nuclear medicine. The use of radiopharmaceuticals in the treatment and diagnosis of a variety of ailments, including cancer and neurological disorders, is on the rise.
• The most-promising radioligand treatment outcomes so far are for prostate cancer and NET. According to indications, prostate cancer leads the market, and this trend is predicted to continue in the future years.
• Between 2018 and 2020, there was a 10.8% rise in the prevalence of prostate cancer worldwide. Prostate cancer is the second-leading cause of cancer mortality in males in the U.S. So far in 2022, there have been around 268,490 cases of prostate cancer.
• Thus, in February 2022, President Joe Biden relaunched the Cancer Moonshot Program with clear aims, including a 50% reduction in cancer-related deaths over the next quarter of a century. As a result, the radioligand therapy market in the U.S. is being bolstered by a growing number of government programs aimed at improving oncologic practices.

Browse detailed report on Global Radioligand Therapy Market Size, Share, Growth Drivers, Regional Forecast Analysis 2030

During the projection period, the requirement for radioligand therapy in hospitals would grow at a CAGR of roughly 7%. Several countries, particularly the U.S. and European nations, are evolving a readiness assessment framework for strong and efficient ways of using radio drugs, in order to deliver safe and effective treatments.

Key companies are seeking to maintain their market position by developing new products and soliciting financing for radioligand treatment breakthroughs for various cancer types. In addition, numerous large pharmaceutical companies are working to take advantage of the radioligand therapy market potential for innovative targeted cancer medicines. These companies are Johnson & Johnson Services Inc., Pfizer Inc., Radio Medix, Molecular Partners, ITM Isotope Technologies Munich SE, Bayer AG, Telix Pharmaceuticals, POINT Biopharma Global Inc., and Novartis International AG.

Radioligand Therapy Market Segmentation Analysis

By Indication

• Prostate Cancer
• Neuroendocrine Tumors (NETs)

By Drug

• Lutathera
• Pluvicto
• Xtandi
• Xofigo
• Zytiga

By End User

• Hospitals
• Clinics
• Academic and Research Institutes

By Distribution Channel

• Direct
• Indirect

Regional Analysis

• North America
• Europe
• Asia-Pacific  
• Latin America
• Middle East and Africa  

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SOURCE P&S Intelligence