by Alpha emitter radiopharmaceuticals are radioactive compounds containing alpha particle-emitting radioisotopes that are used for functional and molecular imaging as well as targeted radiotherapy. Alpha emitter radiopharmaceuticals are used in diagnostic nuclear medicine for tumor and cancer detection using positron emission tomography (PET) and single photon emission computed tomography (SPECT) imaging techniques. Alpha emitters can also be linked to monoclonal antibodies targeted to cancers and other pathologies for alpha radionuclide therapy purposes.
The global Alpha Emitter Market is estimated to be valued at US$ 1331 million in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of cancer and growing applications of nuclear medicine techniques for accurate diagnosis and treatment monitoring is fueling the demand for alpha emitter radiopharmaceuticals globally. Alpha emitters such as Bismuth-213, Actinium-225, and Radium-223offer superior therapeutic efficacy over beta emitters when attached to targeting monoclonal antibodies as their high linear energy transfer can cause double-strand DNA breaks, resulting in destruction of targeted cancer cells with minimal damage to surrounding healthy tissues. This reduces radiotoxicity and side-effects of radiotherapy treatment on patients. The development of novel alpha-emitting targeting agents with high binding affinity is widening the treatment prospects of difficult to treat cancers.
Market key trends:
The key trend driving the Alpha Emitter market is the ongoing research and development to develop novel targeted alpha therapy approaches for cancer treatment. Researchers are developing alpha emitter-based radiopharmaceuticals attached to monoclonal antibodies, peptides, nanoparticles and other targeted ligands that selectively bind to receptors overexpressed on tumor cells. This allows site-specific delivery of radiation dose to cancer sites reducing collateral damage to healthy tissues. Many biotech companies are actively working on alpha-emitting radionuclide conjugates targeting leukemia, lymphoma, neuroendocrine tumors, and renal cell carcinoma which is propelling the Alpha Emitter Market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up manufacturing facilities requires heavy capital investments and certification from regulatory bodies.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market is dominated by a few global players however buyers have options to consider substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is high as raw materials used in radioactive isotopes are limited and suppliers can influence prices.
Threat of new substitutes: The threat of new substitutes is low as there are limited options available for targeted alpha therapy.
Competitive rivalry: The competitive rivalry is high among key players to gain major market share.
Key Takeaways
The Global Alpha Emitter Market Size is expected to witness high growth. The global Alpha Emitter Market is estimated to be valued at US$ 1331 million in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
The market in North America region is expected to dominate the market owing to presence of major players and availability of advanced healthcare facilities. Factors such as increasing prevalence of cancer, advanced healthcare facilities, presence of major players and rapid adoption of new technology attributer the largest share of the North America alpha emitter market.
Key players: Key players operating in the alpha emitter market are Abbott, BD, Cardinal Health, Johnson & Johnson, Medtronic, 3M, Steris, Teleflex. Abbott holds a dominant position in the market.
