Radioligand Therapy (RLT) Market to hit US$ 13.42 billion by 2030
Newark, New Castle, USA, March 01, 2023 (GLOBE NEWSWIRE) -- As per the report published by Growth Plus Reports the Global Radioligand Therapy (RLT) Market was estimated at US$ 4.29 billion in 2021 and is expected to
Newark, New Castle (USA), March 1, 2023 (GLOBE NEWSWIRE). The Global Radioligand Therapy Market (RLT) was valued at US$ 4.29 Billion in 2021. It is projected to rise to US$ 8.43 Billion by 2030. This will be a 7.8% compound annual growth rate (CAGR) from 2022 to 2030. This report provides an in-depth analysis of the top winning strategies, drivers and opportunities, competitive scenario, market trends, market size estimates, statistics & estimations, major investment pockets, and market size. The rapid technological advancements and celebrity endorsements have contributed to radioligand therapy's market growth.
Market players will have lucrative prospects due to the growing geriatric population and public and private funding for targeted research in cancer, as well as high awareness about alpha radioimmunotherapy and product innovation and development as result of technical developments. The World Health Organization (WHO) estimates that cancer was the second leading cause of death worldwide in 2018, accounting for 9.6 million deaths. The market is also being boosted by the country's growing elderly population. In 2018, cancer accounted for 9.6 million deaths worldwide. The market growth projections are limited by the high costs of radioligand therapy development and their associated adverse effects. According to the American Cancer Society in 2019, there were approximately 174,650 new cases of prostate cancer in the United States. The forecast period also shows that the growth of the global radioligand treatment market will be driven by the development and research of radioligand therapies candidates for a variety of cancer types. Endocyte's LuPSMA-617, a radioligand treatment candidate, is currently in phase III clinical trials for prostate cancer treatment. Radioligand products are also in high demand due to the rising incidence of medical conditions such as hormonal imbalance. The radioligand therapy market is expected to grow significantly over the forecast period. The market was also dominated by the approved products category. This is due to the wide availability of a variety of products, as well as the introduction of novel FDA-approved and more efficient procedures like prostate-specific membrane antibody (PSMA) and other approved products for the treatment of cancer and the development radioligand therapies. To increase their product portfolio for radioligand therapy, leading companies are making strategic acquisitions. The market will be driven by pipeline product approvals and commercialization over the forecast period.
The following indications are the segments of the global radioligand treatment (RLT) market:
In 2021, the market was dominated by prostate cancer. Prostate cancer is the sixth-most common cause for death in men and the eleventh overall. Prostate cancers that are slow-growing are usually limited to the prostate gland. They are unlikely to cause any significant harm. Radioligand can be used to treat prostate cancer. It binds to prostate-specific membrane antibody (PSMA). In prostate cancer, the PSMA (prostate-specific membrane antigens) is overexpressed. The rising age of the population, increased prostate cancer incidence, better public awareness, increased R&D spending, and the availability of new prostate cancer medicines are all reasons why the prostate cancer segment will continue to grow. A form of cancer, prostate cancer, occurs when abnormal cells grow and multiply in the prostate gland.
Excerpts of 'By Region Segmentation’
The global radioligand treatment (RLT) market can be segmented based on its location:
Rest of the World
In 2021, North America held a large revenue share. This market is important because of the contributions made by Canada and the U.S. Market expansion has been fueled by increased awareness of the various therapies available and an increase in cancer patients. The generous reimbursement programs offered by European governments are a great example of this. The market will be boosted by a rise in research laboratories, an increase of cancer prevalence and increased government funding.
Radioligand Therapy (RLT), Market Scope
North America, Europe and Asia Pacific (ROW) are the regions covered.
Excerpts of 'Competitive Landscape.
The following are some of the most prominent players in the global radioligand treatment (RLT) market:
Lantheus Holdings, Inc. (Progenics Pharmaceuticals)
Precirix, Radio Medix
Table of Content
Timeline under consideration
Forecasted Years: 2022-2030
The Report Uses Currency
Market Estimation Approach
Limitations and Assumptions
Key Players & Competitive Positioning (2021)
GLOBAL RADIOLIGAND THERAPY MARKET- ANALYSIS & FORECAST, BY DRUG CLASS
GLOBAL RADIOLIGAND THERAPY MARKET - ANALYSIS & FOREECAST, BY INDICATION
VALUE PROPOSITIONS RELATED to THE REPORT
Comprehensive coverage of 'Strategic Developments’ registered by market leaders
"Business Profile" of Key Players
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