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Alpha Emitter Market Insights: Growth Trends, Size, and Share Analysis in the 2024 Forecast Report
Alpha Emitter Global Market Report 2024
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According to The Business Research Company's, The alpha emitter market size has grown exponentially in recent years. It will grow from $1.06 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 23.2%. The growth in the historic period can be attributed to increasing incidence of cancer, growing research investments, government support and funding, rising aging population, and expansion of radiotherapy centers.
The alpha emitter market size is expected to see exponential growth in the next few years. It will grow to $3.03 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%. The growth in the forecast period can be attributed to rising medical expenditure, the growing number of patients with cardiac ailments, growing use of combination therapies, the increasing prevalence of targeted alpha therapy, and increasing research and development activities. Major trends in the forecast period include advancements in imaging technologies, product innovations, strategic collaboration, advancements in radiopharmaceutical development, and development of new alpha-emitting isotopes.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the alpha emitter market going forward. Cancer is a disease characterized by the uncontrolled growth and spread of abnormal cells in the body, which can form tumors and invade surrounding tissues. The prevalence of cancer is due to factors such as aging populations, environmental exposures, lifestyle changes, and improved detection methods. Alpha emitters are used in cancer treatment to target and destroy tumor cells with high precision while minimizing damage to surrounding healthy tissues. For instance, in August 2023, according to the Australian Institute of Health and Welfare, an Australia-based government administration for health, the number of Americans diagnosed with cancer, excluding basal cell carcinomas (BCC) and squamous cell carcinomas (SCC) of the skin is expected to increase from 151,000 in 2021 to 185,000 in 2030. Therefore, the increasing prevalence of cancer is driving the growth of the alpha emitter market.
Major companies operating in the alpha-emitter market are focusing on investing in innovative solutions, such as alpha-emitting radionuclides using cyclotrons, to gain a competitive edge. Alpha-emitting radionuclides produced using cyclotrons are radioactive isotopes that release alpha particles during decay, generated by accelerating charged particles to high energies in a cyclotron. For instance, in April 2023, Ionetix, a US-based cyclotron and technology company, produced its first alpha-emitting radionuclide, Astatine-211 (At-211), at its newly established Alpha Isotope Manufacturing facility in Lansing, Michigan. This facility is noteworthy for being the first in the U.S. dedicated solely to producing alpha-emitting radionuclides using cyclotron technology. The production was enabled by commissioning a 30 MeV cyclotron, specifically designed to accelerate alpha particles for the high-yield generation of At-211 and Actinium-225 (Ac-225).
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Cardinal Health Inc., Bayer AG, Lantheus Holdings Inc., Curium Pharma, Eckert & Ziegler BEBIG GmbH, Telix Pharmaceuticals Limited, NorthStar Medical Radioisotopes LLC, ITM Isotope Technologies Munich SE, Blue Earth Diagnostics Ltd., International Isotopes Inc., IBA Radiopharma Solutions, Orano Med LLC, ARTbio AS, Actinium Pharmaceuticals Inc., Clarity Pharmaceuticals Ltd., RadioMedix Inc., Nordic Nanovector ASA, Convergent Therapeutics, TAE Life Sciences, ABX-CRO advanced pharmaceutical services Forschungsgesellschaft mbH, Fusion Pharmaceuticals Inc.
Alpha Emitter Market 2024 Key Insights:
• The alpha emitter market size is expected to see exponential growth in the next few years. It will grow to $3.03 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%.
• Growth Of The Alpha Emitter Market Amid Rising Cancer Rates
• Innovative Cyclotron-Based Production Of Alpha-Emitting Radionuclides
• North America was the largest region in the alpha emitter market in 2023
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