PEPTIDE RECEPTOR RADIONUCLIDE THERAPY (PRRT) MARKET ANALYSIS

Global Peptide Receptor Radionuclide Therapy (PRRT) Market is estimated to be valued at US$ 2,490.2 million in 2023 and is expected to exhibit a CAGR of 8.4% during the forecast period (2023-2030). Increase in product launches by key market players is expected to drive the market growth during the forecast period. Moreover, an increase in prevalence of disease such as cancer and others is also to drive the market growth.

Analysts’ Global Peptide Receptor Radionuclide Therapy (PRRT) Market:

The product launch for the treatment of cancer diseases is expected to drive the global Peptide Receptor Radionuclide Therapy (PRRT) Market growth over the forecast period. For instance, in March 2022, Novartis AG, is a global healthcare company, announced has Pluvicto (INN: lutetium (177Lu) vipivotide tetraxetan) approved by U.S. Food and Drug Administration (FDA) as first targeted radioligand therapy for treatment of progressive, (PSMA) positive metastatic castration-resistant prostate cancer.

Figure 1. Global Peptide Receptor Radionuclide Therapy (PRRT) Market Share (%), by Drug Type, 2023

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Global Peptide Receptor Radionuclide Therapy (PRRT) Market - Driver

Increasing New Therapies Associated With Cancer Disease

An increase in the diagnosis of cancer disease is expected to increase the demand of new therapies by key players operating in the market, which in turn is expected to drive the global Peptide Receptor Radionuclide Therapy (PRRT) Market growth during the forecast period. For instance, in June, 2022, according to Cancer treatment Centers of America, peptide receptor radionuclide therapy (PRRT) delivers high doses of radiation to tumors in the body to destroy or slow their growth and reduce disease side effects.

Increasing the Incidence of Neuroendocrine Tumor

Rising incidence of pancreatic neuroendocrine tumor and gastrointestinal tract neuroendocrine tumor is expected to drive the growth of market during forecast period. According to the American Society of Clinical Oncology’s (ASCO) 2020 statistics, around 1,000 people are diagnosed with pancreatic neuroendocrine tumor each year in the U.S. and it accounts for 7% of pancreatic cancer cases. According to the same source, the number of patients diagnosed with pancreatic neuroendocrine tumor has been increasing by around 5% per year in the U.S.

Figure 2. Global Peptide Receptor Radionuclide Therapy (PRRT) Market Share (%), by Region, 2023

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 Global Peptide Receptor Radionuclide Therapy (PRRT) Market - Regional Analysis

On the basis of region, the global peptide receptor radionuclide therapy (PRRT) market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the market, owing to increasing product approval by regional drug regulatory authorities such as the U.S. FDA and Health Canada, to launch the products in the region. For instance, in January 2021, Advanced Accelerator Applications (AAA), a subsidiary of Novartis AG, global healthcare company, received the U.S. Food and Drug Administration approval for its Lutetium (177Lu) Oxodotreotide (Lutathera) drug, which is indicated for gastroenteropancreatic neuroendocrine tumor.

Moreover, Asia Pacific peptide receptor radionuclide therapy (PRRT) market is expected to hold a significant market share during the forecast period, owing to increasing treatment therapies on neuroendocrine tumor. For instance, in March 2021, according to National Canter for Biotechnology Information, the two most commonly used radio-peptides is 90Y-DOTATOC and 177Lu-DOTATATE for radionuclide therapy in neuroendocrine tumors.

Global Peptide Receptor Radionuclide Therapy (PRRT) 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 declared it a public health emergency on January 30, 2020.

The novel coronavirus disease 2019 (COVID-19) is now considered a pandemic imposing a tremendous challenge on many nuclear medicine departments. Whereas preliminary precautions have been addressed regarding the risk of infection, the potential impact of COVID-19 on the risk benefit ratio of nuclear medicine treatments remains unknown. Here, risk factors for COVID-19 severity with regard to peptide receptor radionuclide therapy (PRRT), focusing on the question of whether lymphopenia increases risk of infection-related morbidity.

In particular, there is no clear theoretic indication that PRRT places patients at significantly greater risk of acquiring COVID-19 or developing more severe infection-related complications. Anecdotal experiences among us suggest that PRRT treated patients are not overly represented among our COVID-19 positive patients.

 Global Peptide Receptor Radionuclide Therapy (PRRT) Market Segmentation:

The global peptide receptor radionuclide market report is segmented into Drug Type, Disease Indication, Distribution Channel, and Region

Based on Drug Class, the market is segmented into peptide receptor radionuclide therapy, Lutetium (Lu-177), Yttrium-90, Indium-111 and others. Out of which, the Lutetium (Lu-177) is segment is expected to dominate the global Peptide Receptor Radionuclide Therapy (PRRT) Market during the forecast period. It delivers radiation to kill cancer cells. For instance, in March 2022, according to ITM Radio Pharma, Pharmaceutical Company, Provides EndolucinBeta (Lutetium-177) as Long-Term Supplier for Recently Approved Novel Radio therapeutic in Metastatic Prostate Cancer. It is supporting the scalability and security-of-supply for patients globally.

Based on Disease Indication, the market is segmented into pancreatic - neuroendocrine tumor, gastrointestinal tract - neuroendocrine tumor, and others. Out of which, the neuroendocrine tumor, segment is expected to dominate the market over the forecast period. Neuroendocrine tumors are cancers that can form any place where endocrine cells exist For instance, on January 13, 2023, according to the American Cancer Society, Inc., improving the lives of people with cancer and their families, the number of pancreatic neuroendocrine tumor (NET) diagnosed each year has been rising over time. Most people with pancreatic NETs are older, with the average age of diagnosis being 60. These tumors are slightly more common in men than women.

Based on Distribution Channel, the market is segmented into hospital Pharmacies, retail Pharmacies and online Pharmacies. Out of which, the hospital Pharmacies is expected to dominate the market over the forecast period. Increasing of cancer patient visits to hospitals is expected to drive the segment growth.

Based on Region, the market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa out of the North America segment is dominated market over the forecast period. Market players operating in the region are focused on various strategies such as therapies launches and agreement with other key market players, which is expected to drive the market growth in this region.

Global Peptide Receptor Radionuclide Therapy (PRRT) Market Cross Sectional Analysis:

In North America peptide receptor radionuclide therapy (PRRT) market is expected to hold a significant market share during the forecast period. For instance, in June 2020, Novartis AG, a global healthcare company received U.S.-FDA approval for its Lutathera, (lutetium Lu 177 dotatate) for treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs).

Global Peptide Receptor Radionuclide Therapy (PRRT) Market: Key Developments

March 2021, Novartis AG has announced that first interpretable results of the Phase III VISION study evaluating the efficacy and safety of 177Lu-PSMA-617, a targeted radioligand therapy in patients with metastatic, castration-resistant prostate cancer (mCRPC), which is prostate-specific membrane antigen (PSMA) positive.

June 2022, according to Cancer Treatment Centers of America, Peptide Receptor Radionuclide Therapy (PRRT) delivers high doses of radiation to tumors in the body to destroy or slow their growth and reduce disease side effects.

August 2022, U.S FDA approved the Enhertu (fam-trastuzumab-deruxtecan-nxki) IV infusion which is used to treat patient with HER2-low breast cancer.

On March 10, 2023, Pfizer Inc., American multinational pharmaceutical company has announced the U.S. Food and Drug Administration approved ZAVZPRET (zavegepant), the first and only calcitonin gene-related peptide (CGRP) receptor antagonist nasal spray for the acute treatment of migraine.

Global Peptide Receptor Radionuclide Therapy (PRRT) Market: Key Trends

Increasing treatment activities, in order to develop novel treatment approach for cancer and regulatory approval for peptide receptor radionuclide therapy are expected to be major factors driving growth of the global peptide receptor radionuclide therapy (PRRT) market over the forecast period. For instance May 2021, according to radiological society of North America, Lutetium 177 (177Lu) DOTA-0-Tyr3-Octreotate (DOTATATE) peptide receptor radionuclide therapy (PRRT) is an effective treatment for advanced gastroenteropancreatic neuroendocrine tumors.

Global Peptide Receptor Radionuclide Therapy (PRRT) Market: Restraint

High cost associated with cancer treatment to restrain growth of the market

 The total annual economic cost of cancer treatment in 2022 was estimated at US$ $25.20 trillion, globally. Moreover, till 2021, only one PRRT drug was approved in the U.S. and Europe, based on peptide receptor radionuclide therapy (PRRT) and used in the treatment of somatostatin receptor positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs) including foregut, midgut, and hindgut neuroendocrine tumors in adults. Therefore, lack of drugs is another major factor restraining growth of this market. Novartis company’s drug named Lutathera is priced at US$ 47,500 for a full course of treatment, which comprises four infusions (cost for total 4-doses is US$ 190,000). Therefore, such high cost of drugs is expected to restrain growth of this market.

Global Peptide Receptor Radionuclide Therapy (PRRT) Market: Key Players

Major players operating in the global Peptide Receptor Radionuclide Therapy (PRRT) Market include Novartis AG, Advanced Accelerator Applications, S.A, ITM Solucin and Australasian Gastro-Intestinal Trials Group.

*Definition: A type of radiation therapy applied to particular neuroendocrine tumor types. A peptide (a tiny protein that targets cancer cells) is connected to a radioactive chemical. After being injected into the body, this radioactive peptide interacts to a particular receptor present on some cancer cells. The radioactive peptide accumulates in these cells and aids in the destruction of cancer cells while sparing healthy cells. One kind of targeted therapy is radionuclide therapy for peptide receptors, also known as PRRT.