According to a recent market analysis conducted by Future Market Insights (FMI), the global Radiation Toxicity Treatment Market was valued at US$ 3.55 billion in 2021 and is predicted to reach US$ 5.58 billion by 2029.
Installed base of internal radiation therapy machines has tremendously increased over the past decade. Improving reimbursement scenario and favorable government policy framework in the field of cancer care are adding to the accessibility of radiation therapy, thereby favoring the growth of radiation toxicity treatment market.
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The study suggests that notable players in Asia Pacific will continue to invest heavily in the development of new radiation therapies, in line with the increasing cancer prevalence and improving rate of diagnosis in the region.
Rising incidence of radiation toxicity in healthcare and chemicals industries continues to push the demand for effective treatment. Another important factor complementing the market growth includes recent FDA approvals to multiple orphan drugs that are proven to effectively increase the survival rate in adult and paediatric patients who are suffering from radiation sickness. These application areas continue to create growth opportunities in the radiation toxicity treatment market.
Key Takeaways – Radiation Toxicity Treatment Market Study
- Increasing adoption of colony stimulating factors such as Neulasta from Amgen will account for more than 75% of revenue share in the radiation toxicity treatment market through 2029 end.
- Attributed to high incidences of radiation toxicity due to emission of gamma radiation from positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scanners installed at hospitals and diagnostic centers, non-ionizing radiation is also set to offer lucrative opportunity to market participants.
- North America continues to lead its way in the radiation toxicity treatment market, while South Asia is foreseen to grow at a significant rate in the near future.
Who Is Winning?
Some of the key players operating in the radiation toxicity treatment market include Amgen Inc., Partner Therapeutics, Mylan N.V., and Novartis AG. Leading players of the radiation toxicity treatment market are focusing on acquiring smaller companies to enhance their product portfolio and improve regional market positioning.
For instance, Siegfried Group announced the acquisition of drug product manufacturing facility together with all related employees and contracts from Arena Pharmaceuticals GmbH in Zofingen, Switzerland. Also, in 2018, Partner Therapeutics (PTx) acquired global rights to develop, manufacture, and commercialize Leukine (sargramostim) from Sanofi.
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Radiation toxicity treatment Market by Category
By Product:
- Colony Stimulating Factors
- Potassium Iodide
- Prussian Blue
- Diethylenetriamine Pentaacetic Acid
- Others
By Indication:
- Acute Radiation Syndrome
- Bone Marrow Syndrome (Hematopoietic)
- Gastrointestinal Syndrome (GI)
- Cardiovascular (CV)
- Chronic Radiation Syndrome
By Radiation Type:
- Ionizing Radiation
- Alpha Radiation
- Beta Radiation
- Gamma Radiation
- Non-ionizing Radiation
By End-User:
- Hospitals
- Government Hospitals
- Private Hospitals
- Research & Academic Institutes
- Government Research and Academic Institutes
- Private Research and Academic Institutes
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