Peptide Receptor Radionuclide Therapy (PRRT) Market

Peptide Receptor Radionuclide Therapy (PRRT) Market Outlook

The market is likely to record a strong CAGR of 7.2% during the forecast period. The market is currently valued at US$ 552.08 Mn in 2022 and is likely to reach US$ 1,106.50 Mn by 2032.

Sales of peptide receptor radionuclide therapy (PRRT) have risen due to the advancement and growing research in the medical industry leading to a surge in the availability of new cancer treatment options.

Increasing clinical trials and development activities to create therapeutic radiopharmaceuticals are also projected to contribute to the growth of the peptide receptor radionuclide therapy (PRRT) market share.

The report sheds light on the factors improving the sales of peptide receptor radionuclide therapy (PRRT), and, in turn, the opportunities for market players. However, the peptide receptor radionuclide therapy (PRRT) market also faces some challenges, which might limit the peptide receptor radionuclide therapy (PRRT) market share from reaching its potential.

Some of the key market trends promoting the demand for peptide receptor radionuclide therapy (PRRT) includes recommendation for the somatostatin receptor-positive gastroenteropancreatic NETs affected patients, establishment of reimbursement policies for Lutathera, increasing government and private organizations funding for cancer drugs and therapy development, increasing prevalence of neuroendocrine tumors as an increasing number of the patient pool and increasing clinical trials for the new radiopharmaceuticals drugs approval for cancer therapy.

What are the Key Dynamics to the Peptide Receptor Radionuclide Therapy (PRRT) Market Share

Increasing prevalence of neuroendocrine tumors are expected to impel the demand for peptide receptor radionuclide therapy (PRRT) as an increasing number of the patient pool.

Establishment of reimbursement policies for Lutathera favors the demand for peptide receptor radionuclide therapy (PRRT).

A temporary insurance/billing code was used for the peptide receptor radionuclide therapy (PRRT) till 2018. Moreover, increasing clinical trials for the new radiopharmaceuticals drugs approval for cancer therapy expected to surge the growth in the demand for peptide receptor radionuclide therapy (PRRT).

Increasing government and private organizations funding for cancer drugs and therapy development is another major factor expected to propel the growth of the sales of peptide receptor radionuclide therapy (PRRT).

Moreover, growing manufacturer’s interest in the radiopharmaceutical and cancer market flourish the growth of the peptide receptor radionuclide therapy (PRRT) market.

Side effects such as the transient decrease in blood counts, nausea and others associated with PRRT expected to hamper the growth of the sales of peptide receptor radionuclide therapy (PRRT).

Sabyasachi Ghosh

Principal Consultant

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Which Region holds the Highest Growth Potential in the Peptide Receptor Radionuclide Therapy (PRRT) Market

North America and Europe region are expected to grebe more than half of the market share for peptide receptor radionuclide therapy.

Increasing clinical trials for radiopharmaceuticals and growing demand for the targeted therapy for cancer are the major factors driving the growth of the peptide receptor radionuclide therapy market in the U.S. and European countries.

The Asia pacific peptide receptor radionuclide therapy market expected to grow with significant growth rate as growing demand for advance treatment option and comparatively high prevalence of cancer in India and China.

How is the Competitive Landscape in the Peptide Receptor Radionuclide Therapy (PRRT) Market

The key players of the peptide receptor radionuclide therapy (PRRT) market are focusing on enhancing and adopting strategies like enhancing the durability, sizes and its use as testing equipment to thrive business. This is driving the sales of peptide receptor radionuclide therapy (PRRT).  

Some of the key participating players indulged in the sales of peptide receptor radionuclide therapy (PRRT) are:

• Advanced Accelerator Applications (AAA) (Novartis AG)

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.

These market players are anticipated to drive the peptide receptor radionuclide therapy (PRRT) market by introducing new products and expanding geographically.

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