April 20, 2024

Italy Peptide Receptor Radionuclide Therapy (PRRT) Market Set For Rapid Growth By 2030 Owing To Development Of Radioisotopes

The Italy Peptide Receptor Radionuclide Therapy (PRRT) market is seeing growth trends driven by rising cancer incidence rates. PRRT involves targeting tumors using radiolabelled peptides that bind to peptide receptors overexpressed by cancer cells.

Peptide receptor radionuclide therapy or PRRT is a type of systemic radiotherapy in which radioactive particles are absorbed by cancer cells through tumors expressing specific peptide receptors. PRRT targets neuroendocrine tumors overexpressing somatostatin receptors using radiolabelled somatostatin analogues such as Lutetium-177 (177Lu) and Yttrium-90 (90Y). PRRT offers higher response rates than chemotherapy with fewer adverse effects in patients with somatostatin receptor positive neuroendocrine tumors.

The Global Italy PRRT Market is estimated to be valued at US$ 681.79 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Italy PRRT market are Novartis, ANSTO, ITM Isotope Technologies Munich AG, National Isotope Development Center, Palladium-103.

The increasing prevalence of neuroendocrine tumors and other cancers has been the key driver of growth in the Italy PRRT market. PRRT is seeing increasing adoption for treating inoperable and metastatic tumors.

PRRT offers an alternative to chemotherapy for cancer patients and improves quality of life. Major players are investing in R&D to develop newer radiopharmaceuticals and widen the application scope of PRRT globally. The market is also aided by the advantages of personalized nuclear medicine therapy using PRRT.

Market Key Trends

One of the key trends shaping the Italy PRRT MarketĀ  Size is the development of radioisotopes and radiopharmaceuticals with improved targeting capabilities. R&D in PRRT is focused on generating radiolabelled peptides and small molecules with enhanced stability, longer half-life, and higher binding affinities for tumors. For instance, developments around Lutetium-177 and other alpha- and beta-particle emitting isotopes are widening treatment options.

Additionally, 3D printing technologies are enabling personalized PRRT by facilitating preparation of patient-specific dosages of radiopharmaceuticals based on tumor location, size, and receptor density. This is improving treatment efficacy and clinical outcomes.

Porter’s Analysis

Threat of new entrants: The threat of new entrants into the Italy Peptide Receptor Radionuclide Therapy (PRRT) market is low due to high capital requirements and stringent regulations.

Bargaining power of buyers: Individual buyers have low bargaining power compared to larger organizations who purchase PRRT in bulk quantities.

Bargaining power of suppliers: A few major companies dominate the supply market for radiolabelled peptides used in PRRT, giving them stronger bargaining power over buyers.

Threat of new substitutes: Potential new therapies like targeted drug therapy pose a medium threat as substitute treatments but have not yet achieved the same clinical efficacy as PRRT.

Competitive rivalry: Competition in the Italy PRRT market is high as existing major players continue investing in R&D to improve their product offerings.

Geographical Regions

The Italy PRRT market is currently concentrated in major cities like Rome, Milan, and Naples where centralized specialty cancer centers providing PRRT treatment are located. Increased accessibility and awareness has led to overall market expansion beyond major urban centers in recent years.

Germany represents the fastest growing geographical region for the Europe PRRT market over the forecast period due to widespread health insurance coverage and a growing elderly patient population eligible for the treatment. Significant public and private investment will further support market growth in Germany through expanded clinical trials and reimbursement support programs.

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