Radioimmunotherapy Market Size, Share, Growth, and Industry Analysis, By Type (Beta-emitting and Targeted Alpha Therapy), By Application (Solid Tumor and Non-Hodgkin Lymphoma) and Regional Insights and Forecast to 2031

Updated On: 20 November 2023

RADIOIMMUNOTHERAPY MARKET REPORT OVERVIEW

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The global radioimmunotherapy market size was USD 1073 million in 2022 and the market is projected to touch USD 3159.2 million by 2029, exhibiting a CAGR of 16.7% during the forecast period. Radioimmunotherapy (RIT) is a type of cancer treatment that combines the principles of radiation therapy and immunotherapy. It uses radioactive substances (radioisotopes) attached to monoclonal antibodies, which are proteins designed to target specific molecules on the surface of cancer cells. The radioactive particles emit radiation that can damage or destroy cancer cells when the monoclonal antibodies deliver them to the tumor.

Monoclonal antibodies are created in the laboratory to recognize and bind to specific antigens (proteins) found on the surface of cancer cells. These antibodies are designed to be highly specific for the target cancer cells while sparing normal, healthy cells. The monoclonal antibodies are then chemically linked to a radioactive isotope, often iodine-131 or yttrium-90. These radioactive materials emit radiation in the form of beta particles, which can penetrate nearby cancer cells. The drug is administered to the patient, either intravenously or via injection. The monoclonal antibodies in the drug seek out and bind to the cancer cells' specific antigens.

COVID-19 Impact: Changes in Patient Management to Hinder Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic disrupted clinical trials and research activities across the healthcare sector. Many ongoing trials, including those related to (RIT), experienced delays or interruptions. This affected the development and approval of new agents and limited patient access to experimental treatments. In some cases, the treatment plans for cancer patients were modified due to the risks associated with COVID-19. This led to adjustments in the use of this treatment and other cancer therapies. For instance, healthcare providers might have chosen alternative treatment options to reduce the need for in-person medical visits and minimize immunosuppression, which can be a concern during the pandemic. The pandemic disrupted global supply chains, affecting the availability of medical isotopes and (RIT) agents. This could impact the delivery of these therapies and create challenges for healthcare providers and patients.

LATEST TRENDS

"Advances in Radiopharmaceuticals to Drive Market Growth"

Research was ongoing to explore new indications for treatment beyond its traditional use in hematologic cancers, such as non-Hodgkin lymphoma. Scientists and clinicians were investigating its potential in solid tumors, including breast, ovarian, and prostate cancers. The use of this treatment in combination with other cancer treatments, such as immunotherapies, targeted therapies, or chemotherapy, was a growing area of interest. These combinations aimed to enhance the effectiveness of cancer treatment by attacking cancer cells through multiple mechanisms. Ongoing research was focused on developing new radiopharmaceuticals with improved targeting, safety, and effectiveness. This included efforts to use newer radioisotopes and antibody technologies to enhance the precision of this treatment.

RADIOIMMUNOTHERAPY MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into beta-emitting and targeted alpha therapy.

Iodine-131 (I-131) and Yttrium-90 (Y-90) radioimmunotherapy agents, which are beta-emitting radioisotopes, have historically been among the most widely used in (RIT) for cancer treatment. These agents, such as I-131 tositumomab (Bexxar) and Y-90 ibritumomab tiuxetan (Zevalin), have been approved for certain types of non-Hodgkin lymphoma.

• By Application

Based on application the global market can be categorized into solid tumor and non-hodgkin lymphoma.

Non-Hodgkin lymphoma (NHL), especially certain subtypes of NHL, has historically been the most significant application this treatment. Radioimmunotherapy agents, such as Iodine-131 (I-131) tositumomab (Bexxar) and Yttrium-90 (Y-90) ibritumomab tiuxetan (Zevalin), have been approved for the treatment of NHL, particularly in patients who have not responded to other treatments.

DRIVING FACTORS

"Potential for Solid Tumors to Augment the Market"

RIT combines the specificity of monoclonal antibodies with the cell-killing properties of radiation. This targeted approach allows for the selective destruction of cancer cells while minimizing damage to healthy tissues. RIT offers a high degree of precision in delivering radiation directly to cancer cells, making it especially effective for cancers that are resistant to other treatments or have spread throughout the body. Research is ongoing to expand the use of RIT beyond hematologic cancers to treat solid tumors, which represent a significant portion of cancer cases. This expansion could offer new treatment options for patients with difficult-to-treat solid tumors.

"Advances in Radiopharmaceuticals to Expand the Market"

RIT can be used in combination with other cancer therapies, such as immunotherapies or chemotherapy, to enhance treatment outcomes. This combination approach addresses cancer through multiple mechanisms, potentially improving overall effectiveness. RIT can be personalized based on the specific characteristics of a patient's cancer. Molecular and genetic profiling can help select the most appropriate RIT agents and optimize treatment plans for individual patients. Ongoing research is focused on developing novel radiopharmaceuticals with improved properties, including better targeting, safety, and radiobiological efficacy. The use of newer radioisotopes and antibody technologies contributes to these advances. RIT can offer treatment options for rare cancers that may not have many targeted therapies available, providing hope for patients with limited treatment choices.

RESTRAINING FACTORS

"Normal Tissue Toxicity to Potentially Impede Market Growth"

The effectiveness of RIT relies on the availability of specific antigens or markers on the surface of cancer cells that can be targeted by monoclonal antibodies. In cases where these targets are absent or poorly expressed, RIT may be less effective or not applicable. Despite the targeted approach of RIT, there is still the potential for radiation damage to nearby healthy tissues. Efforts are ongoing to improve the safety profile, but concerns about off-target effects remain a constraint. RIT involves the administration of radioactive isotopes, which can pose radiation exposure risks to healthcare workers and patients. Effective safety measures and radiation protection protocols are necessary but can complicate the administration of RIT eventually declining the radioimmunotherapy market growth.

RADIOIMMUNOTHERAPY MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market due to Well-Developed Healthcare Infrastructure"

The North America have been significant players in the radioimmunotherapy market share. Factors contributing to their prominence include a well-developed healthcare infrastructure, a large patient population, substantial investment in research and development, and a robust pharmaceutical and biotechnology industry. Regulatory agencies like the FDA in the U.S. have played a key role in approving agents. The region has also been instrumental in the approval and regulation of agents. The region's strong academic and clinical research institutions, as well as a focus on personalized medicine, have contributed to its leading position.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Bayer (Germany)
• Novartis (Switzerland)
• Lantheus (U.S.)
• Aurobindo Pharma (India)
• Mundipharma (U.K.)

INDUSTRIAL DEVELOPMENT

2022 August: Pharmaceutical and biotechnology companies invest heavily in research and development (R&D) to develop new radioimmunotherapy agents. This involves creating monoclonal antibodies, radiolabeling them with suitable radioisotopes, and conducting preclinical and clinical trials to demonstrate safety and efficacy. R&D efforts aim to improve the precision and targeting of radioimmunotherapy while minimizing side effects.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.