Global Peptide Receptor Radionuclide Therapy (PRRT) Market, by Drug Class (Lutetium (Lu-177), Yttrium-90, Indium-111, and others), By Disease Indication (Pancreatic - Neuroendocrine Tumor, Gastrointestinal Tract - Neuroendocrine Tumor and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing the incidence of cancer is expected to drive the growth of global Peptide Receptor Radionuclide Therapy (PRRT) Market over the forecast period. For instance, according to an article published by National Centre for Biotechnology Information, in January 2022, the incidence of cancer was projected at 1,918,030 new cancer cases and 609,360 cancer deaths to occur in the U.S., including approximately 350 deaths per day from lung cancer.
Global Peptide Receptor Radionuclide Therapy (PRRT) Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. The COVID-19 outbreak has added complexity in the management of patients with neuroendocrine tumors (NETs)
During the COVID-19 pandemic, there have been particular concerns regarding the related impact on specialist tumor services. Neuroendocrine tumor (NET) services are delivered in a highly specialized setting, typically delivered in a small number of centers that fulfil specific criteria as defined by the European Neuroendocrine Tumor Society (ENETS) In the pandemic has negatively impacted the development, production, and supply of drugs, and affected growth of the healthcare segment of various companies across the globe.
Global Peptide Receptor Radionuclide Therapy (PRRT) Market: Key Developments
For instance, in October 2021, according to National Cancer Institute, the U.S. Food and Drug Administration (FDA) has approved the immunotherapy drug atezolizumab (Tecentriq) as an additional, or adjuvant, treatment after surgery and chemotherapy for some patients with non-small cell lung cancer.
Browse 42 Market Data Tables and 35 Figures spread through 210 Pages and in-depth TOC on “Global Peptide Receptor Radionuclide Therapy (PRRT) Market”- Forecast to 2030, by Drug Class (Lutetium (Lu-177), Yttrium-90, Indium-111 and Others), By Disease Indication (Pancreatic - Neuroendocrine Tumor, Gastrointestinal Tract - Neuroendocrine Tumor and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Peptide Receptor Radionuclide Therapy (PRRT) Market:
- The global Peptide Receptor Radionuclide Therapy (PRRT) Market is expected to exhibit a CAGR of 84% during the forecast period due to the increase in the new research and development by key market player. For instance, in March 13, 2023, ITM, Biotechnology company and University Hospital Münster has announced that Start of Phase I Clinical Trial with Radiotherapeutic ITM-31 for Glioblastoma(fast-growing and aggressive brain tumor)
- Among disease indication, pancreatic - neuroendocrine tumor segment is estimated to hold a dominant position in the global Peptide Receptor Radionuclide Therapy (PRRT) Market over the forecast period. For instance, on January 13, 2023, according to the American Cancer Society, 1% to 3% pancreatic cancers patients were newly diagnosed. This factor boost the growth of segment.
- Among distribution channel, in hospital pharmacies segment is attributed to hold a dominant position in the global Peptide Receptor Radionuclide Therapy (PRRT) Market over the forecast period, owing to the hospital visits by patients with chronic illnesses have increased.
- Novartis AG (Advanced Accelerator Applications, S.A.), ITM Solucin, and Australasian Gastro-Intestinal Trials Group
