The global Anti Radiation Drugs Market is estimated to be valued at US$ 587.4 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Anti radiation drugs help protect the human body from harmful effects of radiation exposure during medical imaging procedures and radiation therapies. These drugs reduce the risk of severe skin reactions, low blood counts and other radiation-induced complications.

Market key trends:

One of the key trends in the anti radiation drugs market is the increasing research activities focused on developing more effective protective therapeutics. Researchers are exploring new targets and mechanisms to enhance radioprotection. For example, some studies have showed potential of C60 fullerene derivative in protecting rats from lethal doses of total-body irradiation through its antioxidant activities. Several new startups are also entering this market and investing in R&D to clinical trials of novel anti radiation drug candidates like synthetic antioxidants, immunomodulators and growth factors. This is expected to result in product approvals and launches over the forecast period.

SWOT Analysis

Strength: Anti Radiation Drugs have applications in cancer treatment. They help protect the body from harmful effects of radiation therapy used to treat cancer.

Weakness: Cost involved in the Research & Development of new Anti Radiation Drugs is very high. Long approval timelines from regulatory authorities.

Opportunity: Rising incidence of cancer cases globally increases the demand for cancer treatment options like radiation therapy and associated Anti Radiation Drugs. Increasing healthcare expenditure in emerging economies also provides growth opportunities.

Threats: Intense competition from existing and new market entrants. Stringent regulatory norms concerning safety and efficacy of such drugs.

Key Takeaways

The Global Anti Radiation Drugs Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing prevalence of cancer cases worldwide. It is estimated that over 19 million new cancer cases were detected globally in 2020. Rise in cancer diagnosis rate amplifies the need for radiation therapy and associated anti radiation drugs.

Regional analysis

North America is expected to dominate the global anti radiation drugs market over the forecast period. This is attributed to factors such as robust healthcare infrastructure, higher healthcare spending, constantly rising cancer incidence in the US and Canada. Asia Pacific is anticipated to exhibit fastest growth in the market aided by expansion of healthcare facilities, growing medical tourism industry and huge patient population base in China and India.

Key players

Key players operating in the Anti Radiation Drugs market include RxBio Inc., Annova Chem Inc., Medicom Healthcare Ltd., Onconova Therapeutics, Genome Protection Inc., Grace Therapeutics LLC, Amgen Inc., Partner Therapeutics Inc., Jubilant Life Sciences Ltd., Cipla Inc., Stium Inc., Soligenix Inc., Aeolus Pharmaceuticals, PharmaIN Corp, Immune Modulators Inc. Major players are focused on expanding their product portfolio through mergers, acquisitions and collaborative agreements with biotech companies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it