Global Peptide Receptor Radionuclide Therapy (PRRT) Market Key Players
Some of the major player operating in the global peptide receptor radionuclide therapy (PRRT) market include, Novartis AG, ITM Solucin GmbH, National Institutes of Health, Australasian Gastro-Intestinal Trials Group, Toulouse University Hospital, Peking University, and others.
Peptide receptor radionuclide therapy (PRRT) is a type of molecular therapy, also known as radioisotope therapy that is used for treating neuroendocrine tumors. In this therapy a peptide similar to the natural hormone is combined with radioactive material such as Yttrium and Lutetium, to produce radionuclide which is then injected into the patient’s body. This combination binds to the neuroendocrine tumors in the body. It is a cell targeting type of therapy since it delivers a high dose of radiation directly to the tumor cells.
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Global Peptide Receptor Radionuclide Therapy (PRRT) Market Drivers
Increasing number of drug approvals by regulatory bodies is expected to drive the global peptide receptor radionuclide therapy market growth over the forecast period. For instance, in January 2018, Advanced Accelerator Applications S.A. received an approval from U.S. Food & Drug Administration for Lutathera, a peptide receptor radionuclide therapy. It is used for treating gastroenteropancreatic neuroendocrine tumors. Its phase 3 study showed 79% reduction in the disease progression. Moreover, it is the only approved peptide receptor radionuclide therapy drug.
Furthermore, key players are also focused on research and development activities related to peptide receptor radionuclide therapy which is expected to accelerate the global peptide receptor radionuclide therapy market growth. For instance, in July 2017, National Institute of Health commenced its clinical trial study on Y-DOTATOC. The drug is currently in the early phase of trials, and is being evaluated for micro-dosing. It will be used for treating neuroendocrine tumors. Such development of drugs is expected to boost the global peptide receptor radionuclide therapy market growth.
Also, strategies such as mergers, acquisitions, partnerships, and collaborations by key players related to peptide receptor radionuclide therapy are expected to propel the global peptide receptor radionuclide therapy market growth over the forecast period. For instance, in January 2018, Novartis AG, a biopharmaceutical company acquired Advanced Accelerator Applications S.A., a manufacturer of nuclear medicine products, in order to expand Novartis AG’s product portfolio. This acquisition was for the diversification of oncology neuroendocrine tumor treatment and addition of the radiopharmaceutical technology platform to its portfolio. The growing number of acquisitions are expected to fuel demand for the global peptide receptor radionuclide therapy market.
Global Peptide Receptor Radionuclide Therapy (PRRT) Market Regional Analysis
North America is expected to be a dominant region in the peptide receptor radionuclide therapy market. Higher incidences of prostate cancer is expected to support the global peptide receptor radionuclide therapy market growth. According to Center of Disease Control and Prevention’s data for 2016, around 192,443 people suffered from prostate cancer and almost 30,370 died due to it. Prostate cancer is considered the fourth leading cause of death due to cancer. Hence, increasing prevalence of prostate cancer is expected to augment the peptide receptor radionuclide therapy market growth during the forecast period.
Global Peptide Receptor Radionuclide Therapy (PRRT) Market Restraints
Side effects associated with peptide receptor radionuclide therapy may negatively impact growth of the peptide receptor radionuclide therapy market. The side effects occur on the body part which is treated with radiation. Some of the common side effects faced by patients undergoing radiation therapy are nausea, vomiting, abdominal discomfort or pain, and in some cases, temporary hair loss and sub-acute hematology toxicity. Hence, this may hamper the global peptide receptor radionuclide therapy market growth.
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Global Peptide Receptor Radionuclide Therapy (PRRT) Market Taxonomy
The global peptide receptor radionuclide therapy (PRRT) market is segmented on the basis of disease indications, distribution channels, and regions.
By Disease Indication
- Gastroenteropancreatic Neuroendocrine Tumor
- Foregut Neuroendocrine Tumor
- Midgut Neuroendocrine Tumor
- Hindgut Neuroendocrine Tumor
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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