February 21, 2024
Alpha Emitter Market

Expanding Theranostic Applications Anticipated to Open Up New Avenues for the Alpha Emitter Market

Market Overview:

Alpha emitters are radioactive atoms that release alpha particles during radioactive decay. They have very short penetration range of only a few centimeters in air or tissue and are therefore ideal for targeted therapy. Key alpha emitting radionuclides used for therapeutic purposes include Actinium-225, Bismuth-213, Astatine-211 and Lead-212. These are being explored for the treatment of various cancers like prostate cancer, ovarian cancer, glioblastoma etc. The advantages of alpha emitters compared to other therapeutic radioisotopes include higher relative biological effectiveness and shorter tissue penetration range allowing targeted cell killing with minimal damage to surrounding tissues.

Market Dynamics:

The growth of the alpha emitter market is driven by increasing research activities in the field of targeted alpha therapy (TAT) and the expansion of theranostic applications. TAT uses biomarkers or antibodies to target and deliver alpha emitting radioisotopes directly to cancer cells. Many drug developers are exploring TAT as a potentially more effective form of radiation therapy compared to external beam radiation. For example, Actinium Pharmaceuticals is investigating Actinium-225 based TAT for acute myeloid leukemia, solid tumors and multiple myeloma. Further, alpha emitters are being developed as theranostic agents which can both diagnose and treat diseases. For example, Bismuth-213 labeled PSMA ligands developed by Telix Pharmaceuticals for prostate cancer imaging and treatment. Such expanding applications of alpha emitters in areas of companion diagnostics and personalized medicine is expected to drive higher adoption during the forecast period.

In addition, growing funding from government and private organizations for alpha therapy related research is also positively impacting the market. However, limited product availability and high production costs associated with certain alpha emitting radioisotopes remains a key challenge to be addressed.

The global Alpha Emitter Market Share is estimated to be valued at US$ 1,331.0 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The Alpha Emitter Market can be segmented on the basis of application into therapy (bone metastasis, prostate cancer, brain tumor, others) and diagnostics (tumor detection, bone scanning). The therapy segment currently dominates the market owing to the increasing prevalence of cancer worldwide and rising use of alpha emitters for cancer treatment.

PEST Analysis

Political: Government initiatives to increase funding for cancer research provide a positive outlook for the alpha emitter market. Economic: Rising healthcare spending in emerging nations and availability of reimbursement for cancer treatment are fueling market growth. Social: Growing awareness about effects of cancer and availability of new treatment options are driving demand. Technological: Advancements in radiopharmaceuticals and targeted cancer therapies are expected to support market expansion.

Key Takeaways

The global Alpha Emitter Market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing cancer prevalence and demand for precision medicine. Regionally, North America is projected to dominate the market owing to launch of innovative radiopharmaceutical products, availability of research funding and rapid adoption of advanced therapies. By application, the therapy segment accounts for over 60% share due to clinical benefits of alpha emitters in bone metastasis and other hard-to-treat cancers. Key players operating in the Alpha Emitter Market are Actinium Pharmaceutical Inc., Alpha Tau Medical Ltd, Bayer AG, Bracco, Cardinal Health, Eckert & Ziegle, Fusion Pharmaceuticals, IBA Worldwide, NorthStar Medical Radioisotopes (NMR), Orano Group, Viewpoint Molecular Targeting, RadioMedix, Telix Pharmaceuticals Limited., TerraPower, LLC, NIOWAVE Inc. and IONETIX Corporation.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it