Alpha Emitter Market to Surpass US$ 1,181.9 Mn by 2030 - Coherent Market Insights

Alpha emitters, or targeted alpha therapy (TAT), play vital role in the treatment of different types of cancer. TAT is a promising therapeutic option in patients with multiple micro-metastases. It is an in-development method of targeted radionuclide therapy of various cancer. TAT combines the affinity and specificity of molecular targeting with a potent, cytotoxic alpha particle emissions to deliver systemic, high-energy radiation selectively to cancer cells and the tumor microenvironment to control cancer. Properties of alpha emitters have led to exert profound differences between this field and other fields of nuclear medicine.  

Market Statistics:

The global Alpha Emitter Market is estimated to account for US$ 478.9 Mn in terms of value by the end of 2023.

Drivers:

Increase in prevalence/incidence of cancer across the globe is expected to augment the growth of the global alpha emitter market during the forecast period. For instance, players in the market are focusing on developing and/or launching advanced radionuclides for the management of different types of cancer. For instance, in January 2021, Soricimed Biopharma Inc. and Orano Med signed an agreement to focus on the development of a novel Peptide Receptor Radionuclide Therapy to treat solid tumor cancers. The companies will use Orano Med's unique radioactive alpha emitter, lead-212 (212Pb), conjugated or linked to Soricimed's TRPV6 cancer receptor-targeting peptides to investigate the use of this novel approach in cancer treatment.

Opportunities:

Increase in adoption/use of targeted alpha therapy (TAT) is expected to provide significant growth opportunities for players in the alpha emitter market. For instance, in December 2020, researchers in the DOE Isotope Program developed a new tool for alpha therapy by developing a paired isotope option for PET scans. The team developed an effective radionuclide, named cerium-134, a paired analogue of actinium and thorium that can be imaged using positron emission tomography (PET). Establishing a routine production pathway for cerium-134 is an essential step in advancing the use of alpha emitters for cancer therapy. TATs using actinium and thorium radionuclides are emerging as effective treatments for diseases, such as cancer.

Restraints:

High capital investment, strict regulatory framework, short half-life of radiopharmaceuticals, and poor reimbursement are major factors expected to hamper the growth of the global alpha emitter market over the forecast period. For instance, regulatory requirements pose a hurdle to translational research and clinical investigations. In the U.S., pharmacologic agents, including diagnostic radio-pharmaceuticals and radio therapeutics, undergo regulatory oversight by FDA (the Food and Drug Administration). Furthermore, radiopharmaceuticals face additional scrutiny and undergo unique regulatory and approval pathways across the world.

Global Alpha Emitter Market - Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 had a severe impact on the alpha emitters market owing to stringent measures, such as nationwide lockdown & travel restrictions, implemented by many governments worldwide. Fewer contacts with physicians in outpatient consultations in the initial period of the epidemic resulted in a reduction in the number of patients referred for nuclear medicine (a cancer treatment that uses radioactive drugs that bind to cancer cells and destroy them) for diagnosis and treatment. However, as the population has begun to cope with the pandemic, the need for cancer care has also increased, which in turn is driving the market growth.

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https://www.coherentmarketinsights.com/market-insight/alpha-emitter-market-5534

Key Takeaways:

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.

Among Type of Radionuclide segment Radium (Ra-223) held dominant position in the global alpha emitter market in 2023, accounting for 100.0% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

Increase in adoption of targeted alpha therapy (TAT) is one of the key trends expected to boost the growth of the global alpha emitter market. The adoption of 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 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.

Competitive Landscape:

Major players operating in the global alpha emitter market include Bayer AG, Alpha Tau Medical Ltd., Fusion Pharmaceuticals, Telix Pharmaceuticals, Orano Group (Orano Med), NOVARTIS AG (Endocyte Inc.), and Actinium Pharmaceutical Inc.

Recent 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). A research program was funded by U.S. Department of Energy (DOE) Isotope Program, and it is considered a revolutionary establishment. 

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.