Why Will the U.S. Rule the Radioligand Therapy Market?

The major drivers in the global radioligand therapy market are skyrocketing demand for highly efficient drugs and surging investments in research and development of cancer treatment. In 2021, the market was valued at $7,785.6 million, and it is predicted to touch $13,073.9 million by 2030. Moreover, the market will witness an approximately 6% CAGR from 2021 to 2030. Additionally, this market had witnessed magnificent growth in the count of FDA-approved drugs with the least aftereffects.

Within the indication segment, the radioligand therapy market can be divided into neuroendocrine tumors, prostate cancer, and others. The prostate cancer bifurcation rules the market, and it is predicted to continue the same trend in the coming years. Moreover, 1.4 million people were diagnosed with prostate cancer in 2020. It is the second most dangerous cancer among men in the U.S. In 2022, there must be at least 268,490 prostate cancer patients as of now. Therefore, the surging count of NET and prostate cancer will propel growth in the market including enhanced endoscopy procedures and improved imaging tests.

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The fundamental enablers for radiopharmaceuticals are nuclear medicine advancements, which in turn, will play a pivotal role in medicine. There is a rising inclination toward radiopharmaceuticals, to treat and diagnose illnesses including neurological disorders and cancer. Furthermore, FDA had approved numerous radio drugs, including Pluvicto (in 2022), Lutathera (in 2018), and Zytiga (in 2017). These approvals by FDA will not only open the closed opportunities for the highly-competitive market players but also escalate the radiotherapy potential. This is because of their targeted therapeutic irradiation and radioactive decay, being utilized for treating cancer patients.

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Geographically, the U.S. will advance at a swift CAGR in the coming years. The radioligand therapy market is gaining momentum because of the increasing count of research institutions and specialized cancer healthcare centers, coupled with the gradual attempts of the government to enhance chronic illness treatment. Furthermore, the Cancer Moonshot Program is enhanced by the U.S. president in February 2022, to lower the death rate to at least 50% in the next 25 years. Therefore, these increasing government initiatives will augment growth in the market.

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