PEPTIDE RECEPTOR RADIONUCLIDE THERAPY (PRRT) MARKET ANALYSIS

Peptide Receptor Radionuclide Therapy (PRRT) MarketSize and Trends

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.

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.

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.

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.