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The Global Peptide Receptor Radionuclide Therapy (PRRT) Market, by Drug Type (Lutetium (Lu-177)-based), by Disease Indication (Pancreatic - Neuroendocrine Tumor, Gastrointestinal Tract - Neuroendocrine Tumor, and Others), by Distribution Channel (Hospital Pharmacies and Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 231.5 million in 2018 and is expected to exhibit a CAGR of 27.3% during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.

Increasing research and development regarding peptide receptor radionuclide therapy is expected to propel the market growth over the forecast period. For instance, in February 2017, ABX-CRO, an advanced pharmaceutical services company, in collaboration with ITM Isotopen Technologien Munchen AG, a biotechnology and radiopharmaceutical group of companies, initiated phase III clinical trial for evaluating efficacy and safety of peptide receptor radionuclide therapy (PRRT) with 177luedotreotide compared to targeted molecular therapy with everolimus in patients with inoperable, progressive, somatostatin receptor-positive (SSTR+), neuroendocrine tumors of gastroenteric or pancreatic origin (GEP-NET). The study is expected to be completed by May 2024.

Browse 35 Market Data Tables and 26 Figures spread through 127 Pages and in-depth TOC on Global Peptide Receptor Radionuclide Therapy (PRRT) Market, by Drug Type (Lutetium (Lu-177)-based), by Disease Indication (Pancreatic - Neuroendocrine Tumor, Gastrointestinal Tract - Neuroendocrine Tumor, and Others), by Distribution Channel (Hospital Pharmacies and Retail Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027'

To know the latest trends and insights related to global peptide receptor radionuclide therapy (PRRT) market, click the link below:

https://www.coherentmarketinsights.com/market-insight/peptide-receptor-radionuclide-therapy-prrt-market-2731

Increasing adoption of inorganic growth strategies such as acquisition and collaboration by key players operating in the pharmaceutical industry is expected to drive growth of the global peptide receptor radionuclide therapy (PRRT) market. For instance, in May 2015, Ipsen, a global specialty-driven biotechnological company, strengthened its presence in the oncology field with the acquisition of OctreoPharm Sciences, a company developing innovative radiopharmaceuticals for the diagnosis and treatment of neuroendocrine tumors.

Moreover, increasing incidence and prevalence of pancreatic neuroendocrine tumors, increasing research activity for developing more efficient drug products, increasing adoption of expansion strategies by manufacturers, and increasing product approvals are expected to drive growth of the market during the forecast period. For instance, in 2019, according to the Pancreatic Cancer Action Network reports, pancreatic neuroendocrine tumors are estimated to account for around 7 percent of all pancreatic tumors, globally.

Key Takeaways of the Global Peptide Receptor Radionuclide Therapy (PRRT) Market:

  • The global peptide receptor radionuclide therapy (PRRT) market is expected to exhibit a CAGR of 6.7% during the forecast period (2019–2027), owing to increasing initiatives by major players for development of effective drugs for the treatment of cancer. For instance, in July 2018, Clarity Pharmaceuticals Ltd. initiated phase 1 & 2 open label, non-randomized, single cohort, and multiple dose study to investigate the safety and tolerability of Cu-64 SARTATE and multiple doses in patients with meningioma.
  • Furthermore, increasing collaborations between manufacturers and research institutes for research and development of new drugs based on peptide receptor radionuclide therapy (PRRT) is expected to drive the market growth. For instance, in May 2016, Romagnolo Scientific Institute for the Study and Treatment of Tumors (IRST) Srl conducted research on peptide receptor based drugs.
  • Major players operating in the global peptide receptor radionuclide therapy (PRRT) market include Novartis AG (Advanced Accelerator Applications, S.A.)
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