by The global alpha emitter market is characterized by its growing use in cancer radiotherapy. Alpha emitters are used in radiation therapy to precisely target cancer cells with very high linear energy transfer radiation while limiting damage to surrounding healthy tissue. They are extensively used in targeted alpha therapy (TAT) treatment to deliver high-energy alpha particles directly to malignant tumors. TAT holds great potential for treating various forms of cancer including lung, brain, bone, prostate and melanoma.
The global Alpha Emitter Market is estimated to be valued at US$ 1,331.0 Mn in 2023 and is expected to exhibit a CAGR of 10.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the alpha emitter market is the development of improved radiopharmaceuticals for TAT. Researchers are developing novel alpha emitters and conjugating them to biomarkers that can uniquely identify tumor cells. This facilitates more targeted delivery of radiation dose deep inside the tumor. Nanoparticles are also being explored as carriers to transport alpha emitters and selectively accumulate them in cancer tissues. Ongoing clinical research seeks to demonstrate the efficacy and safety of TAT for treating various cancers. If successful, TAT holds promise to revolutionize cancer therapy with its ability to precisely target tumors at the cellular level with minimal effects on surrounding normal cells.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the alpha emitter market due to the high capital requirements and regulatory compliance involved in establishing a business in this market.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players providing alpha emitters for different applications. However, customized solutions also increase buyer power.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw materials used for manufacturing alpha emitters have few substitutes and suppliers are dependent on a limited number of buyers.
Threat of new substitutes: The threat of new substitutes is low as alpha emitters have unique properties for medical applications and there are limited substitutes available.
Competitive rivalry: The competitive rivalry in the alpha emitter market is high due to the presence of many global and regional players offering similar products. Players try to differentiate based on product/technology advancement.
Key Takeaways
The Global Alpha Emitter Market Share is expected to witness high growth over the forecast period owing to the increasing applications in medical isotopes. North America dominates the market currently due to major technological advancements and presence of leading players in the region.
Regional analysis: North America is expected to account for the largest share of the global alpha emitter market during the forecast period. This is attributed to the advanced healthcare infrastructure and growing awareness about advantages of alpha emitter therapy for cancer treatment. Europe is also a major market backed by significant R&D investments. Asia Pacific is expected to showcase the fastest growth rate with increasing healthcare expenditures.
Key players: 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.
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