Radiation Toxicity Treatment Market Revenues to Cross US$ 5.5 Bn by 2029
The global revenues generated through demand for radiation toxicity treatment witnessed a moderate growth rate of 4.5% during 2014 - 2018. As the burden of cancer continues to increase at a global level and radiation being the preferred treatment from modalities such as radiotherapy devices, gamma knife as well as superficial radiation therapy systems radiation toxicity treatment will continue to see a promising rise over the following years. This new study examines the growth of radiation toxicity treatment market over 2019 - 2029, and forecasts that it will surpass US$ 5.5 Bn by the end of projection period.
Key Factors Shaping Radiation Toxicity Treatment Market
Radiotherapy for Cancer Treatment Increasing Risk of Radiation Toxicity
Cancer is among the leading causes of deaths worldwide. According to WHO, one in 5 men and one in 6 women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from cancer annually. Prevalence of cancer is increasing rapidly across the globe boosting the demand for radiotherapy as a treatment approach. Radiation toxicity is caused by being exposed to radiations during radiotherapy. Approximately, 50% of patient suffering from liver cancer, colon cancer, pancreatic cancer, and prostate cancer were treated with radiotherapy as per trend in last decade. Radiotherapy damages tumor cells, along with that it also hampers normal and healthy cells around the tumor. This is the key reason of radiation toxicity among 60% of patients treated with radiotherapy. Therefore, rising prevalence of cancer will also upsurge the cases of radiation toxicity throughout the globe.
Increasing Focus on Orphan Drug Designation
Various orphan drug laws and regulations incentivize life science companies for developing drugs for radiation toxicity treatment. As a result, there has been a remarkable increase in orphan drug designations applied by drug manufacturers and granted by various regulatory authorities for radiation toxicity treatment. In 2018, U.S. FDA approved the use of Leukine (sargramostim) to increase survival in adult and pediatric patients acutely exposed to myelosuppressive doses of radiation (Hematopoietic Syndrome of Acute Radiation Syndrome, or H-ARS). Also, in 2018, U.S. FDA approved Mylan and Biocon's Fulphila (pegfilgrastim-jmdb), first biosimilar to Neulasta. The launch of Fulphila may help patients with non-myeloid cancers reduce the risk of infection following myelosuppressive chemotherapy.
Radiopharmaceuticals as Therapeutic Approach Creating Lucrative Opportunities for Market Growth
Radiopharmaceuticals are currently used for the diagnostic purpose rather than therapeutic purpose. Currently, only 12.9% revenue of global radiopharmaceutical market is from therapeutic nuclear medicine, but it is expected that the therapeutic nuclear medicine will gain around 60-65% revenue by 2030. Increasing use of therapeutic radiopharmaceutical may increase the risk of radiation toxicity among patients. Also, therapeutic radiopharmaceutical may also lead to chronic radiation syndrome among patient and shows its consequences of radiation toxicity after few years of treatment.
Radiation Toxicity Treatment Market Structure Analysis
- The global radiation toxicity treatment market is highly consolidated. The global radiation toxicity treatment market is completely dominated by Amgen Inc. by accounting more than 75% market share.
- Leading players of the radiation toxicity treatment market are also emphasizing on collaboration with distributor or local manufacturer to enhance their distribution channel in emerging economies.
- For instance, in 2018, Partner Therapeutics signed distribution agreement with Tanner Pharma Group for the distribution of Leukine in the areas outside the U.S. and Canada.
- In 2017, Jubilant Life Sciences Limited signed a long-term contract with distribution networks in the US for supply of products used for diagnostic and therapeutic products with Montreal Canada (JDI).
Ionizing Radiation Accounts for 90% Market Share
Representing a whopping 90% share in global market, ionizing radiation remains the highly preferred radiation toxicity treatment, particularly in developed countries. On the other side, it also continues to witness growing traction within developing regional markets. Under ionizing radiation, gamma radiation method accounts for over 50% share, while alpha and beta radiation methods are observing significant adoption. Adoption of non-ionizing radiation technique is increasing at a promising rate.
Maximum Adoption Prevails in U.S.
North America continues to offer worthwhile opportunities to market players, primarily attributing to increasing usage of single-photon emission computed tomography (SPECT) and positron emission tomography (PET) scanning machines at diagnostic facilities. Favorable healthcare reimbursements remain pivotal in shaping this regional market. Lucrative growth prospects of the U.S. market for radiation toxicity treatment will generate revenues of over US$ 1.5 Bn towards the end of 2029. While Europe is also identified as a lucrative market, stakeholders are particularly eying the profits in East and South Asia. These regional markets are turning attractive with the increasing per capita healthcare expenditure and multiple government programs for integrated healthcare systems.
* This data is only a representation. Actual data may vary and will be available in report.
Paradigm Shift towards Orphan Drug Development
Rapid regulatory approvals and growing preference for orphan drugs will significantly shape the market for radiation toxicity treatment. Research studies prompt existence of nearly 7,000 rare diseases, most of which still stand unaddressed without any specific treatment measures. While this indicates a lucrative white space, key market players are focusing their strategies on development of orphan drugs for rare diseases. The U.S. and Europe governments have been particularly granting approvals to various orphan drugs, as well as offering incentives to drug development companies.
Colony stimulating factors remain in demand
Diethylenetriamine pentaacetic acid picking pace
Adoption for acute radiation syndrome remains high
Demand in chronic radiation syndrome growing
Ionizing radiation remain highly preferred
Non-ionizing radiation to gain momentum
Surging adoption at hospitals
Moderate adoption at research institutes
How Growth will Unfold
Hospitals will remain the prominent end user of radiation toxicity treatment, where rapid growth in revenues is capturing attention of market players. Revenue generation in the radiation toxicity treatment market through hospitals will reach around US$ 5 Bn by 2029 end, which would continue to attract investments from leading market players. Adoption of radiation toxicity treatment at private hospitals accounts for nearly 4/5th shares, whereas that at the research & academic institutes would continue to see a sluggish outlook during the period of forecast.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Radiation Toxicity Treatment Market Analysis 2019 - 2029
A recent market study published by Future Market Insights on the radiation toxicity treatment market includes global industry analysis for 2014 - 2018 & opportunity assessment for 2019 - 2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the radiation toxicity treatment market, the growth prospects of the market are obtained with maximum precision.
Radiation Toxicity Treatment Market Taxonomy
The global radiation toxicity treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Colony Stimulating Factors
- Potassium Iodide
- Prussian Blue
- Diethylenetriamine Pentaacetic Acid
- Acute Radiation Syndrome
- Bone Marrow Syndrome (Hematopoietic)
- Gastrointestinal Syndrome (GI)
- Cardiovascular (CV)
- Central Nervous System (CNS) Syndrome
- Chronic Radiation Syndrome
- Ionizing Radiation
- Alpha Radiation
- Beta Radiation
- Gamma Radiation
- Non-Ionizing Radiation
- Government Hospitals
- Private Hospitals
- Research & Academic Institutes
- Government Research and Academic Institutes
- Private Research and Academic Institutes
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
The report initiates with the executive summary of the radiation toxicity treatment market, which includes a summary of key findings and statistics of the market. It also includes supply-side and demand-side trends pertaining to the radiation toxicity treatment market.
Readers can find the definition and a detailed segmentation of the radiation toxicity treatment market in this chapter, which will help them understand the basic information about the radiation toxicity treatment market. Along with this, comprehensive information pertaining to radiation toxicity treatment and their properties are provided in this section. This section also highlights the inclusions and exclusions, which helps the reader understand the scope of the radiation toxicity treatment market report.
This section gives information about drivers, and restraints of the radiation toxicity treatment market. This section also includes various opportunities of the radiation toxicity treatment market.
This section gives information about upcoming pipeline products, therapeutic efficacy and treatment metrics, and regulatory scenario of the radiation toxicity treatment market.
This section explains the global market value analysis and forecast for the radiation toxicity treatment market between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical radiation toxicity treatment market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
Based on product type, the radiation toxicity treatment market is segmented into colony stimulating factors, potassium iodide, prussian blue, diethylenetriamine pentaacetic acid, others. In this chapter, readers can find information about the Y-o-Y growth and market attractiveness analysis based on product type.
Based on indication, the radiation toxicity treatment market is segmented into acute radiation syndrome and chronic radiation syndrome. In this chapter, readers can understand the Y-o-Y growth and market attractiveness analysis based on application.
Based on radiation type, the radiation toxicity treatment market is segmented into ionizing radiation and non-ionizing radiation. In this chapter, readers can understand the Y-o-Y growth and market attractiveness analysis based on radiation type.
This chapter provides details about the radiation toxicity treatment market based on the end user, and has been classified into hospitals and research & academic institutes. In this chapter, readers can understand the market attractiveness analysis based on end user.
This chapter explains how the radiation toxicity treatment market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America radiation toxicity treatment market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, and market growth based on the product type, indication, radiation type, end user, and countries in North America.
This chapter provides the growth scenario of the radiation toxicity treatment market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the radiation toxicity treatment market based on its end users in several countries such as the U.K., France, Germany, Spain, Italy, and the Rest of Europe are included in this chapter.
Important growth prospects of the radiation toxicity treatment market across target segments in several countries such as China, Japan and South Korea are included in this chapter.
In this chapter, India, Indonesia, Thailand, Malaysia countries are the prominent countries in the South Asia region. Readers can find detailed information about the growth parameters of the South Asia radiation toxicity treatment market during the forecast period of 2019-2029.
This section highlights the growth prospects of the radiation toxicity treatment market for Australia and New Zealand, during the forecast period of 2019-2029.
This chapter provides information about how the radiation toxicity treatment market will grow in major countries in the MEA region such as GCC Countries, South Africa, and the Rest of MEA, during the forecast period of 2019-2029.
This chapter highlights the tier structure analysis, market concentration analysis and company share analysis along with sales footprint analysis of key player operating in radiation toxicity treatment market.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the radiation toxicity treatment market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Amgen Inc., Partner Therapeutics, Inc., Novartis AG, Mylan NV, Coherus BioSciences Inc., Jubilant Life Sciences, Hameln Pharma Plus Gmbh, Heyl Chemisch-pharmazeutische Fabrik GmbH & Co. KG, Recipharm AB, Annex Inc., Mission Pharmacal Company, Avondale Pharmaceuticals, Llc. and Upsher-Smith Laboratories, LLC.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the radiation toxicity treatment market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the radiation toxicity treatment market.
How the research was conducted?
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- Industry Experts
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- Current Market Dynamics and Challenges
- Yesteryear Trends
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Industry Publications
- BioMed Research International
- ACS Publications
- European Journal of Nuclear Medicine
- Industry Associations
- International Atomic Energy Agency
- World Nuclear Association
- Society of Nuclear Medicine and Molecular Imaging
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
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Primary Interview Splits