PEPTIDE RECEPTOR RADIONUCLIDE THERAPY (PRRT) MARKET ANALYSIS

Market Challenges And Opportunities

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.

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