February 21, 2024
Alpha Emitter Market

Radiopharmaceuticals Is The Largest Segment Driving The Growth Of Alpha Emitter Market

Market Overview:

Alpha emitters are radioactive elements that emit alpha particles, which have high molecular weights and can cause significant damage to living tissues when exposure occurs. Alpha emitters find wide applications in radiopharmaceuticals used for targeted cancer therapy.

Market key trends:

One of the key trends in the alpha emitter market is the rising adoption of targeted alpha therapy (TAT) for cancer treatment. TAT utilizes alpha-emitting radionuclides conjugated to targeting molecules like antibodies to selectively deliver high-energy alpha particles to cancerous tissues. Compared to traditional external beam radiation therapy, TAT causes dense ionization along particle tracks with minimal damage to surrounding normal tissues. This allows higher doses of radiation to be used for cancer treatment with reduced side effects. Other trends fueling the market growth include increasing research activities in alpha emitting radiopharmaceuticals and growing clinical trials for testing the effectiveness of alpha emitters in cancer therapy.

The alpha emitter market has been witnessing significant growth owing to rising prevalence of cancer globally. Alpha emitters are used in targeted alpha therapy (TAT) for cancer treatment which involves attachment of alpha particle emitting radionuclides to antibodies that bind to cancer cells. TAT has emerged as a promising treatment modality due to its high cytotoxic potential to cancer cells with minimal damage to surrounding healthy tissues. Moreover, ongoing research activities to develop tumor-targeting agents and evaluate alpha emitters for the treatment of different cancers is expected to boost the market during the forecast period.

The global Alpha Emitter Market Share is estimated to be valued at US$ 1,331.0 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strengths: Targeted alpha therapy using alpha emitters has high potential to treat cancer with minimal off-target toxicity. It provides high linear energy transfer and short penetration ability of alpha particles in tissues.
Weaknesses: Radiation safety challenges and regulatory hurdles associated with handling alpha-emitting radioisotopes. Limitation in selectively delivering high doses of radiation to tumors.
Opportunities: Growth opportunities in the emerging economies. Rising collaborative efforts between industry players and research institutes to develop alpha emitters.
Threats: Strong competition from alternative cancer treatment types. Stringent regulatory environment. Supply constraints for alpha-emitting radioisotopes.

Key Takeaways

The global Alpha Emitter Market size was valued at US$ 1,331.0 Mn in 2023 and is expected to reach over US$ 2,500 Mn by 2030, expanding at a CAGR of 10% during the forecast period. The market is driven by the increasing prevalence of cancer globally.

Regional analysis: North America dominated the global market in 2023 and is expected to maintain its leading position during the forecast period owing to rising adoption of targeted alpha therapy in the region. Asia Pacific is anticipated to exhibit the fastest growth over 2023-2030 backed by growing healthcare expenditure, rising cancer morbidity and increasing initiatives to develop alpha therapy capabilities in countries including India and China.

Key players operating in the Alpha Emitter market are Actinium Pharmaceutical Inc., Alpha Tau Medical Ltd, Bayer AG, Bracco, Cardinal Health, Eckert & Ziegle, Fusion Pharmaceuticals, IBA Worldwide, NorthStar Medical Radioisotopes (NMR), Orano Group, Viewpoint Molecular Targeting, RadioMedix, Telix Pharmaceuticals Limited., TerraPower, LLC, NIOWAVE Inc. and IONETIX Corporation.

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