The global alpha emitter market was valued at US$ 421.5 Mn in 2022 and is forecast to reach a value of US$ 1,181.9 Mn by 2030 at a CAGR of 13.76% between 2023 and 2030. The global alpha emitter market is experiencing strong growth due to the rise in burden of cancer and rise in geriatric population around the world. Moreover, increase in use of targeted alpha therapy (TAT) for cancer treatment and increase in awareness about the potential benefits of TAT is expected to propel the growth of the market. However, factors such as stringent regulatory framework and need for high capital investment are expected to hamper growth of the alpha emitter market.
Global Alpha Emitter Market: Regional Insights
Based on geography, the global alpha emitter market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing burden of cancer and cardiac diseases and rise in awareness about the potential benefits of targeted alpha therapy. Cancer continues to be the second most common cause of death in the U.S., after heart disease. For instance, according to American Cancer Society, in 2022, there will be around 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States. This number is likely to increase during the forecast period, driving the growth of the alpha emitter market in the U.S.
Europe and Asia Pacific are also expected to witness significant growth in the global alpha emitter market due to the rise in prevalence of cancer and cardiovascular diseases and increase in demand for safe and effective treatment of such diseases in the region. For instance, India’s cancer cases could increase by 12% in the next five years, with 1.5 million people projected to suffer from the non-communicable disease by 2025, up from 1.39 million in 2020, according to the data based on current trends from the cancer report by Indian Council of Medical Research (ICMR). This in turn is expected to aid in the growth of the market.
Figure 1. Global Alpha Emitter Market Share (%), by Region, 2023
Global Alpha Emitter Market Drivers:
Rise in burden of cancer and cardiac diseases to boost market growth
One of the key factors expected to augment the growth of the global alpha emitter market over the forecast period is the rise in burden/prevalence of cancer across the globe. For instance, according to the World Health Organization (Who), cancer was one of the leading cause of death worldwide, accounting for around ten million deaths in 2020, or nearly one in six deaths. The most common cancers are breast, lung, colon and rectum and prostate cancers. Therapy that uses the radioactive substance that gives off a type of high-energy radiation called an alpha-particle to kill cancer cells. Thus, with the increase in burden of cancer, the use of alpha emitter is also increasing.
Growing geriatric population to augment market growth
Another factor which is driving the growth of the global alpha emitter market is the rise in geriatric population around the world. For instance, cancer risk increases exponentially with age. Over 60% of cancer occur in people 65 years of age or older. According to the UN DESA’s Population Division, one in six people in the world will be over the age 65 by 2050, and in many regions, the population aged 65 and more will double by 2050. Moreover, according to the American Cancer Society, by 2040, the global burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths simply due to the growth and aging of the population.
Global Alpha Emitter Market Opportunities:
Rise in usage of targeted alpha therapy (TAT) for cancer treatment is expected to offer significant growth opportunities for players in the global alpha emitter market. For instance, targeted therapy can treat different types of cancer. TAT uses radioactive substance to kill cancer cells. In targeted alpha therapy, these carrier molecules serve as vehicles to transport the radioisotopes to the cancer cells. In January 2022, diffusing alpha-emitter radiation therapy, Alpha DaRT, was found to elicit complete responses per RECIST v1.1 criteria in patients with malignant skin and soft tissue cancer who are enrolled to an ongoing single-institution pilot feasibility trial.
Increase in awareness about the potential benefits of targeted alpha therapy is expected to offer lucrative growth opportunities for players in the global alpha emitter market. For instance, players in the market, as well as people worldwide, are now increasingly aware of the potential benefits of TAT to treat several chronic ailments, such as cancer. Over the years, radio-immunotherapy (RIT) has proven to be effective treatment for non-solid tumors. RIT with short-ranged, high-efficiency α-particles is a striking and promising treatment approach. Recent clinical studies have shown the remarkable efficacy of TAT in the treatment of metastatic, castration-resistant prostate cancer.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 421.5 Mn |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR: | 13.76% | 2030 Value Projection: | US$ 1,181.9 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Bayer AG, Alpha Tau Medical Ltd., Fusion Pharmaceuticals, Telix Pharmaceuticals Ltd., Orano Group (Orano Med), NOVARTIS AG (Endocyte Inc.), and Actinium Pharmaceutical Inc. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Alpha Emitter Market Trends:
Increase in adoption of TAT is a recent trend
The adoption of targeted alpha therapy (TAT) with higher linear energy transfer (LET) and shorter wavelengths has been promising in the cancer treatment process. Moreover, TAT is most rapidly developing field in nuclear medicine and radio pharmacy. Numerous studies have also shown the in vitro and in vivo efficacy of the targeted α-therapy. Currently, various researches are going on by the scientist across the world to trigger the opportunities with this TAT and expand the treatment scenario. This trend is expected to gain traction in the future.
Increase in focus on disease diagnosis is another trend
Many pharmaceutical and biotechnological companies worldwide are engaged in R&D (research and development) to identify new methods for the diagnosis of this disease, of which, some are in the final phase of clinical trials. Moreover, advancements in diagnostic options have spurred better understanding of different types of cancer, allowing for the development of safe/effective devices or tools cancer diagnosis. This trend is also expected to continue over the forecast period, driving the growth of the global alpha emitter market.
Global Alpha Emitter Market Restraints:
Stringent regulatory framework to hinder market growth
One of the key factors expected to hamper growth of the global alpha emitter market is the stringent regulatory framework. For instance, regulatory requirements pose a hurdle to translational research and clinical investigations. For instance, in the United States, all pharmacologic agents, including diagnostic radiopharmaceuticals and radio therapeutics, undergo regulatory oversight by the U.S. Food and Drug Administration (FDA). Furthermore, radiopharmaceuticals face additional scrutiny and undergo unique regulatory and approval pathways across the world.
High capital investment to hamper market growth
Another factor which is hampering the growth of the global alpha emitter market is the need for high capital investment. The most common radionuclides, such as Actinium-225 and Radium-223, which are most widely used in diagnostic and treatment procedures due to their increased efficacy and lesser toxic effects, especially in the head and breast areas, are very rarely found, and therefore, require high investment in processing (or) producing them through chemical reactions. Moreover, removal of carrier and impurities is an expensive process and contributes to the high cost of these products, restraining the growth of the market.
Figure 2. Global Alpha Emitter Market Share (%), by Type of Radionuclide, 2023
Global Alpha Emitter Market Segmentation:
The alpha emitter market report is segmented into Type of Radionuclide, Medical Applications, and Geography.
Based on Type of Radionuclide, the market is segmented into Radium (Ra-223), Actinium (Ac-225), and Lead (Pb-212). Out of which, Radium (Ra-223) Segment is expected to dominate the alpha emitter market over the forecast period and this is attributed to the increase in prevalence of prostate cancer. Radium-223 is approved by FDA and used to treat advanced prostate cancer.
Lead (Pb-212) Segment is also expected to witness significant growth in the near future and this is due to the increase in burden of cancer worldwide. Lead Pb-212 is playing an instrumental role in destroying cancer cells and can be used in radio-immunotherapy.
Based on Medical Application, the market is segmented into Prostate Cancer, Bone Metastases, Ovarian Cancer, Pancreatic Cancer, Endocrine Tumors, and Other Medical Applications. Out of which, Prostate Cancer Segment is expected to dominate the market over the forecast period and this is attributed to the rise in burden of prostate cancer. Prostate cancer is the 2nd most common form of cancer in men worldwide. According to GLOBOCAN, in 2020, around 1,414,259 number of prostate cancer cases were recorded for the year 2020, globally.
Bone Metastases Segment is also expected to witness significant growth in the near future and this is owing to the increase in burden of cancer. Bone metastasis occurs when cancer cells spread from their original site to a bone. Nearly all types of cancer can spread (metastasize) to the bones.
Global Alpha Emitter Market: Key Developments
In December 2020, researchers in the DOE Isotope Program developed an effective radionuclide, named cerium-134, a paired Analog of actinium and thorium that can be used in positron emission tomography (PET). Establishing a routine production pathway for cerium-134 is an essential step in advancing the use of the alpha emitters for cancer therapy.
In August 2020, the Prostate Cancer United Kingdom Centre of Excellence funded a study to understand the future of Targeted Alpha Therapy and the Current Clinical Applications. The study emphasized that there is an urgent need to develop therapies with more specific binding and the development more stable and selective carriers.
In January 2020, Actinium Pharmaceuticals signed an agreement with the University of California to use Actinium's Antibody Radiation-Conjugate apamistamab-I-131 for targeted conditioning and replacing chemotherapy conditioning being used in an ongoing Phase 1/2 stem cell gene therapy clinical trial. In the trial, individuals with relapsed or refractory HIV-related lymphoma are being treated with autologous stem cell gene therapy.
In December 2019, Curium acquired MAP Medical Technologies to expand Curium’s footprint in Europe, providing direct access to Nordic and Baltic countries for its broad portfolio of life saving diagnostic solutions.
Global Alpha Emitter Market: Key Companies Insights
The global alpha emitter market is highly competitive. This is attributed to the increase in use of targeted alpha therapy or increase in adoption of targeted alpha therapy, as a result, players in the market are engaged in research and development.
Some of the key players in the global alpha emitter market are:
Bayer AG, Alpha Tau Medical Ltd., Fusion Pharmaceuticals, Telix Pharmaceuticals Ltd., Orano Group (Orano Med), NOVARTIS AG (Endocyte Inc.), and Actinium Pharmaceutical Inc.
*Definition: Alpha emitters play a significant role in the treatment of different types of cancer. Targeted alpha therapy (TAT) is a therapeutic option in patients with multiple micro-metastases. It is an in-development method of targeted radionuclide therapy of various cancer.
Alpha emitters play a significant role in the treatment of different types of cancer. Targeted alpha therapy (TAT) is a therapeutic option in patients with multiple micro-metastases. Targeted alpha-particle therapy (or TAT) is an in-development method of targeted radionuclide therapy of various cancer. Properties of alpha emitters have led to exert profound differences between this field and other fields of nuclear medicine.
Market Dynamics:
Increase in burden of cancer, rise in geriatric population, increase in use of targeted alpha therapy (TAT) for cancer treatment, rise in awareness about the potential benefits of TAT, and increase in research and development are expected to propel the growth of the global alpha emitter market.
For instance, in July 2021, Alpha Tau Medical Ltd. and Healthcare Capital Corporation signed an agreement to further expand Alpha Tau's clinical strategy, including the pursuit of FDA (Food and Drug Administration) marketing authorization, a broad array of R&D (research and development) activities, expanding manufacturing capacity, and preparing for commercialization.
Key features of the study:
Detailed Segmentation:
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