What is Global Therapeutic Radioisotopes Market?
The Global Therapeutic Radioisotopes Market is a rapidly expanding sector within the healthcare industry. It involves the use of radioactive isotopes, also known as radionuclides, for therapeutic purposes. These isotopes are used in the treatment of various diseases, including cancer, by delivering targeted radiation to the affected cells. The market for therapeutic radioisotopes is driven by the increasing prevalence of cancer worldwide, advancements in medical technology, and the growing awareness about the benefits of radioisotope therapy. The global market is further segmented based on the type of isotope, application, and region. The market's growth is also influenced by factors such as regulatory approvals, the availability of isotopes, and the level of investment in research and development activities.
Radium-223, Lutetium-177, Iodine-131, Other in the Global Therapeutic Radioisotopes Market:
Radium-223, Lutetium-177, and Iodine-131 are some of the key isotopes used in the Global Therapeutic Radioisotopes Market. Radium-223 is used in the treatment of bone metastases from prostate cancer. It works by mimicking calcium and targeting bone metastases, delivering a high dose of radiation to the cancer cells. Lutetium-177 is used in Peptide Receptor Radionuclide Therapy (PRRT) for the treatment of neuroendocrine tumors. It binds to the tumor cells and delivers a high dose of radiation, killing the cancer cells. Iodine-131 is used in the treatment of thyroid cancer and hyperthyroidism. It is taken up by the thyroid gland and destroys the thyroid cells, including the cancer cells. Other isotopes used in the market include Yttrium-90, Strontium-89, and Samarium-153. Each of these isotopes has unique properties that make them suitable for specific therapeutic applications.
Thyroid, Bone Metastasis, Lymphoma, Other in the Global Therapeutic Radioisotopes Market:
The Global Therapeutic Radioisotopes Market finds its usage in various areas such as thyroid treatment, bone metastasis, lymphoma, among others. In thyroid treatment, radioisotopes like Iodine-131 are used to destroy thyroid cells, including cancerous ones, without harming other body cells. For bone metastasis, isotopes like Radium-223 are used to deliver targeted radiation to cancer cells, providing pain relief and slowing the progression of the disease. In the case of lymphoma, radioimmunotherapy using isotopes like Yttrium-90 is used. This involves attaching the isotope to an antibody that targets cancer cells, delivering a high dose of radiation directly to the tumor. Other applications include the treatment of conditions like neuroendocrine tumors and non-Hodgkin's lymphoma.
Global Therapeutic Radioisotopes Market Outlook:
Looking at the market outlook, the Global Therapeutic Radioisotopes Market was valued at US$ 1771 million in 2023. It is projected to reach a value of US$ 4734 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period from 2024 to 2030. This growth is significantly higher than the global pharmaceutical market, which is expected to grow at a CAGR of 5% over the next six years, reaching a value of 1475 billion USD in 2022. In comparison, the chemical drug market is estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. The rapid growth of the Therapeutic Radioisotopes Market can be attributed to the increasing prevalence of cancer and the growing awareness about the benefits of radioisotope therapy.
| Report Metric | Details |
| Report Name | Therapeutic Radioisotopes Market |
| Accounted market size in 2023 | US$ 1771 million |
| Forecasted market size in 2030 | US$ 4734 million |
| CAGR | 15.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Bayer, Novartis, China Isotope & Radiation, Dongcheng, Q BioMed, Curium Pharmaceuticals, Jubilant Radiopharma, Lantheus, Aurobindo Pharma, International Isotopes, Mundipharma |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
