ALPHA EMITTER MARKET ANALYSIS

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 % during the forecast period (2023-2030).

Increase in the collaborations among key players to expand their product portfolio is expected to drive the growth of the global alpha emitter market over the forecast period. Moreover, increase in the investment in research and development of alpha emitter products is expected to drive the growth of the global alpha emitter market over the forecast period. 

Analysts’ Views on Global Alpha Emitter Market:

The alpha emitter market's growth is expected to have a positive impact over the forecast period, owing to the increasing product approvals by the regulatory authorities. For instance, in November 2022, Novartis AG, a pharmaceutical corporation, announced that the U.S. Food and Drug Administration (FDA) had approved Pluvicto (lutetium Lu 177 vipivotide tetraxetan) for the treatment of adult patients with a type of advanced cancer called prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC), which spreads to other parts of the body (metastatic). Such patients are selected for the trials, who have already been treated with other anticancer treatments (androgen receptor pathway inhibition and taxane-based chemotherapy).

Figure 1. Global Alpha Emitter Market Share (%), by Application, 2023

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Global Alpha Emitter Market - Driver

Increasing Prevalence of Cancer Worldwide

Increasing prevalence of different types of cancer such as breast cancer, prostate cancer, neuroendocrine tumors, ovarian cancer, and others is expected to drive the growth of global alpha emitter market over the forecast period. For instance according to data published by the World Health Organization, in February 2022, cancer is a prominent cause of death worldwide, accounting for about 10 million fatalities in 2020, or nearly one in six deaths.

Increasing Research and Development Activities

Increasing research and development by key market players for the discovery of new treatment such as alpha radioligand therapy to treat cancer is expected to drive the global alpha emitter market over the forecast period. For instance, on January 4, 2023, Orano Med, a pharmaceutical company, announced that the 212Pb-GRPR, an alpha radioligand therapy with lead-212, for patients with solid tumors that express the gastrin-releasing peptide receptor, has dosed its first patient in a Phase 1 clinical trial. 212Pb-GRPR is the targeted alpha therapy aiming gastrin-releasing peptide receptor, a protein found on the surface of cells that is expressed in prostate cancer, lung cancer, breast cancer and other solid tumors

Figure 2.Global Alpha Emitter Market Share (%), by Region, 2023

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Global Alpha Emitter Market - Regional Analysis

Among all regions, North America region is expected to dominate the market over the forecast period. This is attributed due to the increasing adoption of inorganic growth strategies such as collaborations between the key market players In order to develop and produce novel radiopharmaceuticals for the treatment of cancer is expected to drive the market growth in the region over the forecast period. For instance, in January 1, 2023, NorthStar Medical Radioisotopes (NMR), a global company specialized in the development, production, and commercialization of radiopharmaceuticals that are used for therapeutic applications and medical imaging, and Inhibrx, Inc., a clinical-stage biotechnology company, announced their collaboration to develop and produce novel radiopharmaceuticals for the treatment of cancer.

The European region is expected to second largest region over the forecast period. Europe Alpha emitter market is expected to witness significant growth over the forecast period, owing to increasing adoption of inorganic growth strategies such as supply agreements between the key market players in the region. For instance, in July 2022, Eckert & Ziegler, a provider of isotope technology for medical, scientific, and industrial use, signed a supply agreement with Precirix, a clinical-stage biotechnology company, which is dedicated to improving the lives of cancer patients by developing novel targeted radiopharmaceuticals, for the supply of the therapeutic radioisotope named Actinium-225. This agreement will provide Precirix the access to Eckert & Ziegler's high-purity, non-carrier-added Actinium225 that is used for the labeling of trial drugs in radionuclide therapy.

Global Alpha Emitter Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

According to the Indian Journal of Medical Sciences, on June 6, 2020, the COVID-19 pandemic affected the conduction of clinical trials due to unavailability of trial site staff, restrictions on travelling, availability of investigational product, and others. According to National Center for Biotechnology Information (NCBI), on April 29, 2020, in the cell and gene therapy sector, research programs and preclinical activities has been disrupted as the companies have reduced the number of people working on the site in order to keep them safe. Around 85% of the cell and gene therapy company’s employees are working from home, which is one of the reason for the delay in the conduction of the trial. Moreover, lack of laboratory consumables, personal protective equipment (PPE), and reagent also leads to delay in the conduction of clinical trials. According to National Center for Biotechnology Information (NCBI), on April 29, 2020, many clinical trials withdrew their trial enrollment, in order to minimize the risk of contracting COVID-19, and this led to the delay in the activation of new clinical trial. Moreover, many companies have missed the follow-up for the patients that are already in trials. Furthermore, travel restrictions, patient concerns of contracting coronavirus infection, and others are some of the factors that are responsible for the withdrawal of patients from the clinical trial. There was an increase in the number of clinical trials in Europe and the U.S., in 2022 as compared to clinical trials in 2021. However, the number of clinical trials initiated is reduced as compared with the previous decade due to stringent guidelines related to COVID-19 pandemic.

Global Alpha Emitter Market Segmentation:

Global alpha emitter market is segmented into Type of Radionuclide, source, application and end user.

Bases on Type of Radionuclide, the market is segmented into Radium (Ra-223), Actinium (Ac-225), Lead (Pb-212), Astatine-211, Bismuth-213, and others. Out of which, Actinium (Ac-225) is expected to dominate the segment during the forecast period due to increasing research and development for the treatment of metastatic castration-resistant prostate cancer. For instance, according to an article published in August 2022, by Radiation journal, a researcher from Kindai University, Japan, has investigated into the optimal Strategy of Radium-223 Therapy for Metastatic Castration-Resistant Prostate Cancer and concluded that early administration of Ra-223 was significantly associated with improved OS and that it might be beneficial to administer Ra-223 before novel hormonal or anticancer agents.

Based on Source, the market is segmented into natural sources and artificially produced sources. Out of which, natural sources is expected to dominate the segment to dominate the global alpha emitter market forecast period. The natural radionuclides include primordial radioactive elements in the earth's crust, its radioactive decay products, and the radionuclides produced from the bombardment of stable nuclides by cosmic radiation. Alpha radiation is a type of energy that is emitted when radioactive elements decay or break down. Uranium and thorium are radioactive elements that are found naturally in the Earth’s crust. These two elements changes their form over billions of years, and this leads to the production of decay products named radon and radium. Energy is released during this process.

Based on Application, the market is segmented into bone metastases, prostate cancer, neuroendocrine tumor, ovarian cancer and others. Out of which, bone metastases is expected to dominate the segment due increasing research and development in targeted alpha-particle emitting radiopharmaceuticals as therapy for prostate cancer patients with bone metastases. For instance, according to an article published in April 2021, by the National Center for Biotechnology Information, researchers form Wake Forest University Health Sciences, North Carolina, U.S., and the University of Iowa, U.S., reported that radium-223 dichloride, an alpha-particle-emitting radiopharmaceutical, improves the overall survival of prostate cancer patients with bone metastases.

Global Alpha Emitter Market Cross Sectional Analysis:

In application segment, Prostate Cancer held a dominant segment in Latin America region due to the increasing approval of radioligand therapy by regulatory bodies for treatment of prostate cancer is expected to propel the market growth over the forecast period.  For instance, in March 2022, Novartis AG, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved Pluvicto, a targeted radioligand therapy, for the treatment of adult patients with prostate-specific membrane antigen–positive metastatic castration resistant prostate cancer (PSMA-positive mCRPC) that has spread to other parts of the body. For patients with mCRPC, Pluvicto is the first targeted radioligand therapy (RLT) to get U.S. FDA’s approval. It combines a radioisotope for therapeutic purposes with a targeting chemical (ligand). In end user segment, biopharmaceutical companies held a dominant segment in Europe region due to the increase in the number of clinical trials in the region. For instance, according to data published in January 2021, on European Medicines Agency, stated that according to the European Clinical Trials Register, in Europe there were about 43,108 clinical trials in 2021.

In end user segment, specialty clinics held a dominant segment in Asia Pacific region due increasing launch or establishment of cancer care centers/specialty clinics is expected to drive the segment growth over the forecast period. For instance, in October 2022, Wockhardt Hospitals, a tertiary care, super specialty healthcare network in India offering healthcare services, in association with Specialty Surgical Oncology, an India-based cancer care hospital, launched the Cancer Care Center. The center aims to provide preventive cancer treatment.

Global Alpha Emitter Market: Key Developments

In November 2022, IONETIX Corporation, a molecular imaging diagnostics and therapeutics company, announced that the U.S. Nuclear Regulatory Commission (NRC) had issued a Materials License for its new production facility located in Michigan, U.S. This facility will be the first commercial facility in the U.S., dedicated exclusively to the production and supply of alpha-emitting radionuclides, Actinium-225 (Ac-225) and Astatine-211 (At-211), which are both being used to develop new targeted radionuclide therapies to treat various types of cancer.

In November 2022, NorthStar Medical Radioisotopes, a pharmaceutical company and IBA Worldwide, a medical technology company, announced to sign a new agreement. In this agreement, NorthStar Medical Radioisotopes will purchase third Rhodotron TT300 HE electron beam accelerator from IBA Worldwide. This accelerator will be used for the production of no-carrier added actinium-225 (Ac225), an important therapeutic radioisotope that is in limited supply, and no commercial-scale production technology for this accelerator exists.

In January 2022, RadioMedix, a biotechnology company, and Orano Med, a biotechnology company, announced the initiation of the Phase II clinical trial of AlphaMedix with the treatment of the first patient on December 21, 2021. This trial will evaluate the safety and effectiveness of 212Pb-DOTAMTATE (AlphaMedix) in Peptide Receptor Radionuclide Therapy (PRRT) of naive patients with somatostatin receptorexpressing neuroendocrine tumors (NET).

In June 2022, Alpha Tau Medical Ltd., a medical technology company announced that the U.S. Food and Drug Administration (FDA) had approved its Investigational Device Exemption (IDE) application to start its multi-center pivotal study for the treatment of recurrent cutaneous Squamous Cell Carcinoma (SCC) using Alpha DaRT.

Global Alpha Emitter Market: Restraint

Drawbacks Associated with Targeted Alpha Particle Therapy

Radiation therapy kills cancer cells or slows their growth of cells by damaging their DNA. Radiotherapy is a cancer treatment that uses high doses of radiation to kill cancer cells and shrink tumors. Radiation therapy can have certain common side effects, however these effects differ from person to person, and this is due to the fact that side effects might vary depending on the kind of cancer, where it is located, radiation therapy dose, patient's overall health, and other factors. Increasing side effects of radiation therapy is expected to hamper the growth of global alpha emitter market over the forecast period. For instance, according to data published in January 2022, by National Cancer Institute, U.S., following are the possible side effects of Radiotherapy: fatigue, taste change, skin color change, diarrhea, hair loss, urinary and bladder problems, fertility problems in men and others.

Global Alpha Emitter Market: Key Players

Major 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.

*Defination: Alpha emitter is a radioactive isotope that emits alpha particles.