by Radio-labeled Analogs of Nuclear Medicine to Facilitate Antiviral COVID-19 Drug Development
The emergence of the COVID-19 outbreak has become a threat to the global health. This has compelled stakeholders in the radiopharmaceutical theranostics market to increase their R&D in nuclear medicine techniques that are found to be useful for functioning imaging of physiological processes at the cellular or molecular level. Companies are expanding in treatment approaches based on targeted delivery of therapeutic radionuclides.
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Advancements in radiolabeling methods can significantly improve the accessibility of radiopharmaceuticals for in vivo molecular imaging or targeted radionuclide therapy. Such trends are anticipated to boost the growth of the radiopharmaceutical theranostics market during the ongoing pandemic. Stakeholders are expected to collaborate with researchers to describe how radio-labeled analogs of nuclear medicine could facilitate antiviral drug development.
Integrating PET & MRI Modalities Challenging Due to Possible Interference
Nuclear medicines have led to the popularity of radiopharmaceuticals that carry the ability to destroy specific diseased cells with high-energy-emitting radionuclides. However, it has been found that integrating positron emission tomography (PET) and MRI (magnetic resonance imaging) modalities is challenging, as there is a possibility for interference between both the modalities. Hence, stakeholders are integrating PET detectors and MR scanners to obtain PET and MR images simultaneously.
Companies in the radiopharmaceutical theranostics market are increasing the availability of radioactive medicines through oral, intravenous, and interstitial route to diagnose malignancy. The high prevalence of cancer is acting as a key growth driver of the radiopharmaceutical theranostics market, as radioactive medicines have the ability to destroy cancerous cells by emitting radiation when it reaches the target cell.
U.S., Europe Attract Investments to Increase R&D in Radiopharmaceuticals
Radiopharmaceuticals are generating major oncology deals globally. A €182 Mn IPO was announced in June 2020, where the U.S.-based Fusion Pharma was recently recruited by pharma giant AstraZeneca to co-develop radiotherapies for cancer. Apart from major investments taking place in the U.S., stakeholders in the radiopharmaceutical theranostics market are witnessing a high level of interest and activity in Europe and the Far East. In September 2020, the Belgian company Camel-IDS rebranded as Precirix has advanced its lead candidate radiopharmaceutical into phase I/II.
Since responses with radiopharmaceutical agents typically do not require many months of therapy, it is being preferred over chemotherapy and immunotherapy. Radioactive iodine is emerging as the gold standard to image the spread of thyroid tumors.
Cerenkov Radiation Energy Approach Targets Cancer Cells Effectively
In a research presented at the Society of Nuclear Medicine and Molecular Imaging’s 2021 Virtual Annual Meeting, a novel cancer treatment approach is being publicized for utilizing the Cerenkov radiation energy to target and destroy cancer cells more effectively. Companies in the radiopharmaceutical theranostics market are taking cues from such insights to use light from decaying radiopharmaceuticals, known as Cerenkov luminescence, as an energy source to activate semiconducting polymer nanoparticles that kill cancer cells.
Cerenkov luminescence is being proposed as an internal energy source for cancer therapy in the radiopharmaceutical theranostics market. This light source can be amplified with semiconducting polymers, which greatly increases its potential to target and destroy cancer cells.
Growing Incidence of Non-communicable Diseases in Pakistan Create Revenue Opportunities
The Nuclear Medicine Oncology and Radiotherapy Centre (INOR) in Abbottabad and the Institute of Nuclear Medicine and Oncology (INMOL) in Lahore, Pakistan, are now developing novel radiopharmaceuticals for use in theranostic procedures, using equipment and training provided through the IAEA’s technical cooperation (TC) program. This is evident since non-communicable diseases such as cardiac dysfunction, cancer, and neurological disorders are concerning national health authorities in the country.
Since the incidence of non-communicable diseases is estimated to double in the upcoming years in Pakistan, theranostic interventions are gaining popularity for accurate diagnosis of cancer in the radiopharmaceutical theranostics market.
Analysts’ Viewpoint
Based on the continuing threat by the ongoing coronaviruses pandemic and other pathogens, it is anticipated that nuclear medicines hold strong potential in the development of antiviral drug and treatment. The radiopharmaceutical theranostics market is projected to expand at a robust CAGR of 11% from 2021 to 2031. The photodynamic therapy helps activate nanomaterials for the cancer therapy. However, this technique is limited by the ability of external light to penetrate tissues. Hence, companies should increase their R&D in Cerenkov luminescence, which is spontaneously produced from certain radiopharmaceuticals as the decay in the body. This technique has been proposed as an internal energy source for the cancer therapy.
Radiopharmaceutical Theranostics Market: Overview
Nuclear medicine imaging is primarily based on the principle of using radioactive isotopes attached to specific molecules (i.e., radiopharmaceutical agents or radiotracers) to examine key biologic processes, including disease pathophysiology. These drugs can be administered orally (in tablet form), intravenously (into a patient’s vein), or interstitially (via the skin) (inserted into a cavity in the body). Radiopharmacology is a specialty of radiation treatment; however, regulations require that the drugs be delivered by a radiopharmacist, a medical professional who specializes in nuclear medicine.
Every radiopharmaceutical is designed to travel to a different location in the body. When it reaches its location, it will release radioactive substances that will kill the tumor cells. Researchers have found radiopharmaceuticals that can target various malignancies such as colorectal cancer, prostate cancer, heart disease, thyroid cancer, etc.
After decades of neglect by big pharma, radiopharmaceuticals are now creating significant cancer deals across the globe. This could result in an increase in cancer drugs that can be used as both therapies and diagnostics, known as ‘theranostics‘.
Recently, there has been significant activity from companies developing drugs employing radioactivity to destroy tumors. Telix Pharmaceuticals, an Australia-based company, has licensed its portfolio to China Grand Pharma for EUR 242 Mn (AUD 400 Mn).
Vect-Horus is a newcomer to the theranostics field, primarily supplying peptide vectors for drug delivery. With a recent EUR 6.7 Mn fundraising, the company is ready to begin phase I development of a theranostics glioblastoma medication with the U.S.-based partner RadioMedix in 2021.
Hence, increase in investments by key players in developing novel theranostics agents is expected to fuel the growth of the global market
Market Segmentation: Radiopharmaceutical Theranostics Market
In terms of radioisotope, the global radiopharmaceutical theranostics market has been classified into technetium-99, gallium-68, iodine-131, iodine-123, fluorine-18, yttrium-90, lutetium (Lu) 177, copper (Cu) 67, copper (Cu) 64, and others
Based on application, the global radiopharmaceutical theranostics market has been categorized into oncology, cardiology, and others
In terms of source, the global radiopharmaceutical theranostics market has been bifurcated into nuclear reactors and cyclotron
Based on approach, the global radiopharmaceutical theranostics market has been segregated into targeted therapeutic (Rx) and companion diagnostic (DX)
In terms of end user, the global radiopharmaceutical theranostics market has been divided into academic & research institutes, hospitals, and others
Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The radiopharmaceutical theranostics market report provides current and expected revenue (US$ Mn) for each of these segments from 2021 to 2031, considering 2020 as the base year. The compound annual growth rate (percentage CAGR) has been provided for each segment and market from 2021 to 2031, along with market size estimations.
Regional Overview: Radiopharmaceutical Theranostics Market
In terms of region, the global radiopharmaceutical theranostics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
North America dominated the global market in 2020. High prevalence of neuroendocrine tumors (NETs) among the population drives the radiopharmaceutical theranostics market in North America. Over 12,000 people in the U.S. are diagnosed with neuroendocrine tumors each year. The sensitivity and specificity of Ga-68 and Lu-177 as a theranostics pair have been evaluated in a number of clinical trials. This factor is expected to fuel the growth of the market in the region. Moreover, well-established healthcare infrastructure and high healthcare spending are likely to augment the radiopharmaceutical theranostics market in North America.
The current and expected market revenue (US$ Mn) of these regional markets and their major countries have been provided in the report from 2021 to 2031, with their CAGRs from 2021 to 2031
The study also offers a list of recommendations, highlights, and useful insights of the global radiopharmaceutical theranostics market, which would help new companies willing to enter the market and existing companies to increase market shares and in the decision-making process
Major Players
The radiopharmaceutical theranostics market report concludes with the company profiles section, which includes key information about major players in the global radiopharmaceutical theranostics market
Leading players analyzed in the report include
- Nihon Medi-Physics
- ITM Isotopen Technologien München AG
- Advanced Accelerator Applications
- Telix Pharmaceuticals
- GE Healthcare
- Theragnostics Ltd.
- NuView Life Sciences
- Jubilant Pharma Limited
- Lantheus Holdings, Inc.
- Curium Pharma
- Bayer AG
- Clarity Pharmaceuticals
Each of these players has been profiled in the radiopharmaceutical theranostics market report based on parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments
Key Questions Answered in Radiopharmaceutical Theranostics Market Report
- What is the sales/revenue generated by the radiopharmaceutical theranostics market across all regions during the forecast period?
- What are the opportunities in the global radiopharmaceutical theranostics market?
- What are the major drivers, restraints, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which segment is expected to generate the highest revenue globally in 2031?
- Which segment is projected to expand at the highest CAGR during the forecast period?
- What are the market positions of different companies operating in the global market?
Radiopharmaceutical Theranostics Market – Segmentation
Radioisotope
- Technetium-99
- Gallium-68
- Iodine-131
- Iodine-123
- 18F
- Y-90
- Lutetium (Lu) 177
- Copper (Cu) 67
- Copper (Cu) 64
- Others
Application
- Oncology
- Cardiology
- Others
Source
- Nuclear Reactors
- Cyclotrons
End User
- Hospitals
- Academic & Research Institutes
- Others
Approach
- Targeted Therapeutic (Rx)
- Companion Diagnostic (DX)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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