What is Global Peptide Receptor Radionuclide Therapy (PRRT) Market?
The Global Peptide Receptor Radionuclide Therapy (PRRT) Market is a rapidly evolving sector in the medical field. PRRT is a molecular therapy used to treat neuroendocrine tumors (NETs), a rare type of cancer that starts in the cells of the neuroendocrine system. This therapy uses a small peptide carrier to deliver a high dose of radiation directly to the cancer cells. The global PRRT market was valued at US$ 1043 million in 2023 and is projected to reach a staggering US$ 4478.8 million by 2030. This significant growth is due to the increasing prevalence of NETs and the effectiveness of PRRT in treating these tumors.
Gastroenteropancreatic Neuroendocrine Tumor, Foregut Neuroendocrine Tumor, Midgut Neuroendocrine Tumor, Hindgut Neuroendocrine Tumor in the Global Peptide Receptor Radionuclide Therapy (PRRT) Market:
The PRRT market is segmented based on the type of neuroendocrine tumor. These include Gastroenteropancreatic Neuroendocrine Tumor, Foregut Neuroendocrine Tumor, Midgut Neuroendocrine Tumor, and Hindgut Neuroendocrine Tumor. Each of these tumors originates in different parts of the body and requires a unique approach for treatment. The Gastroenteropancreatic Neuroendocrine Tumor segment holds a significant share in the PRRT market due to the high incidence of these tumors. The Foregut, Midgut, and Hindgut Neuroendocrine Tumors are less common but are also effectively treated with PRRT, contributing to the market growth.
Hospital Pharmacies, Retail Pharmacies, Online Pharmacies in the Global Peptide Receptor Radionuclide Therapy (PRRT) Market:
The Global Peptide Receptor Radionuclide Therapy (PRRT) Market is also categorized based on the distribution channel, which includes Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. Hospital Pharmacies hold the largest share in the PRRT market due to the complex nature of the therapy, which requires professional medical supervision. Retail Pharmacies also contribute to the market as they provide easy access to medication for patients undergoing PRRT. The Online Pharmacies segment is expected to grow rapidly due to the convenience and ease of access it offers to patients.
Global Peptide Receptor Radionuclide Therapy (PRRT) Market Outlook:
In terms of market outlook, the Global Peptide Receptor Radionuclide Therapy (PRRT) Market is set for substantial growth. In 2023, the market was valued at US$ 1043 million and is expected to reach US$ 4478.8 million by 2030, growing at a CAGR of 17.4%. This growth is faster than the overall global pharmaceutical market, which is projected to grow at a CAGR of 5% over the next six years. The chemical drug market, on the other hand, is estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. The rapid growth of the PRRT market can be attributed to the increasing prevalence of neuroendocrine tumors and the effectiveness of PRRT in treating these tumors.
| Report Metric | Details |
| Report Name | Peptide Receptor Radionuclide Therapy (PRRT) Market |
| Accounted market size in 2023 | US$ 1043 million |
| Forecasted market size in 2030 | US$ 4478.8 million |
| CAGR | 17.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Bayer, Novartis, Lantheus, Aurobindo Pharma, Mundipharma, Curium Pharmaceuticals |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
