Global Anti-Radiation Drugs Market to Register Incremental Growth at a CAGR of ~9% by 2030 | DelveInsight

11 Jun 2024
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Radiation Therapy
The rise in demand for anti-radiation drugs is mainly driven by several factors. These include the growing occurrence of side effects linked to cancer screening methods, heightened risks of exposure to radiological or nuclear emergencies, and the increasing focus of nuclear-capable nations on safeguarding against radiation. These trends are expected to fuel the expansion of the anti-radiation drugs market from 2024 to 2030.
LAS VEGAS, June 11, 2024 /PRNewswire/ -- DelveInsight's
Anti-Radiation Drugs Market Insights report provides the current and forecast market analysis, individual leading anti-radiation drugs companies' market shares, challenges, anti-radiation drugs market drivers, barriers, trends, and key market anti-radiation drugs companies in the market.
Key Takeaways from the Anti-Radiation Drugs Market Report
As per DelveInsight estimates, North America is anticipated to dominate the global anti-radiation drugs market during the forecast period.
In the compound type segment of the anti-radiation drugs market, the Potassium iodide sub-category had a significant revenue share in the year 2023. This can be ascribed to the various characteristics and advantages associated with potassium iodide.
Notable anti-radiation drugs companies such as
In
September 2023, the U.S. Department of Defense awarded Edina-based Humanetics a USD 20 million contract to develop a pill that prevents radiation damage in military members and first responders affected by events such as nuclear accidents, warfare, and dirty bombs.
In
May 2023, the first-in-human clinical trial of an experimental oral drug for removing radioactive contaminants from inside the body, testing the safety, tolerability, and processing in the body of escalating doses of the investigational drug product HOPO 14-1 was initiated in healthy adults. The National Institute of Allergy and Infectious Diseases (NIAID)Infectious Diseases (NIAID), part of the National Institutes of Health, was funding the Phase 1 trial, which was sponsored and conducted by SRI International of Menlo Park, California.
In
March 2022, Novartis announced that the US Food and Drug Administration (FDA) approved Pluvicto (lutetium Lu 177 vipivotide tetraxetan) for the treatment of adult patients with a certain type of advanced cancer called prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC)prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) that has spread to other parts of the body. These patients have already been treated with other anticancer treatments (androgen receptor pathway inhibition and taxane-based chemotherapy).
To read more about the latest highlights related to the anti-radiation drugs market, get a snapshot of the key highlights entailed in the
Global Anti-Radiation Drugs Market Report
Anti-Radiation Drugs Overview
Anti-radiation drugs are pharmaceutical compounds designed to mitigate the damaging effects of radiation exposure on the human body. These drugs work by either scavenging free radicals generated by radiation or by enhancing the repair mechanisms of cells damaged by radiation. One class of anti-radiation drugs includes radioprotectors, which are administered before radiation exposure to prevent or reduce its harmful effects. Another class, known as radiomitigators, is given after exposure to alleviate the severity of radiation-induced damage. These drugs hold significant promise in scenarios such as nuclear accidents, medical radiation therapy, and space travel, where the risk of radiation exposure is a concern.
Research into anti-radiation drugs is ongoing, with scientists continually striving to improve their efficacy and minimize side effects. Some compounds under investigation show potential not only in protecting against acute radiation sickness but also in mitigating long-term effects such as cancer development. As our understanding of radiation biology advances, coupled with advancements in drug development technologies, the prospects for more effective and accessible anti-radiation drugs continue to brighten, offering hope for safer environments in radiation-prone situations.
Anti-Radiation Drugs Market Insights
In 2023, North America dominated the anti-radiation drugs market, primarily due to several factors contributing to growth. These include a substantial patient population afflicted with various illnesses like cancer, increasing numbers of diagnostic procedures, and governmental initiatives aimed at public health in the region. This trend is expected to continue from 2024 to 2030.
The prevalence of cancer in the United States, for example, drives a significant demand for anti-radiation drugs. Statistics from the American Cancer Society projected around 2 million new cancer cases in the United States in 2024, leading to heightened demand for these drugs to support cancer diagnostic procedures. Additionally, the US benefits from a strong focus on clinical research and the presence of leading pharmaceutical companies, further bolstering the market for anti-radiation drugs.
Moreover, in 2022, the US Department of Health and Human Services (HHS) allocated USD 290 million for the purchase of Nplate, a drug produced by Amgen USA Inc., intended to treat radiation sickness in the event of a nuclear emergency. This investment reflects ongoing efforts to enhance preparedness for radiological and nuclear emergencies and underscores the commitment to saving lives in such scenarios.
To know more about why North America is leading the market growth in the anti-radiation drugs market, get a snapshot of the
Anti-Radiation Drugs Market Outlook
Anti-Radiation Drugs Market Dynamics
The market dynamics of anti-radiation drugs are driven by a complex interplay of factors ranging from technological advancements to geopolitical events and regulatory frameworks. One of the primary drivers is the
increasing threat of radiation exposure from various sources such as nuclear accidents, medical procedures, and potential radiological terrorism. This
heightened awareness has propelled research and development efforts to create effective anti-radiation drugs that can mitigate the harmful effects of radiation exposure.
Moreover, the
growing prevalence of cancer and the widespread use of radiation therapy as a treatment modality has further fueled the demand for anti-radiation drugs. As more individuals undergo radiation-based treatments, there is a parallel
need for medications that can protect healthy tissues and organs from the damaging effects of ionizing radiation.
The
competitive landscape of the anti-radiation drugs market is characterized by both established pharmaceutical companies and innovative startups vying for market share. Established players often leverage their resources and expertise to develop and commercialize new anti-radiation drugs, while startups focus on
disruptive technologies and novel approaches to address unmet needs in radiation protection.
Government initiatives and regulatory frameworks also play a crucial role in shaping the market dynamics of anti-radiation drugs. Regulatory agencies set standards for safety, efficacy, and quality assurance, which impact the development, approval, and commercialization of these medications. Additionally,
government investments in research and development, as well as funding for procurement and stockpiling of anti-radiation drugs for emergency preparedness, influence market dynamics.
Overall, the anti-radiation drugs market is characterized by a dynamic landscape driven by technological innovation, healthcare trends, regulatory factors, and geopolitical considerations. As the threat of radiation exposure continues to evolve, so too will the demand for effective anti-radiation drugs, driving further growth and innovation in this important sector of the pharmaceutical industry.
Get a sneak peek at the anti-radiation drugs market dynamics @
Anti-Radiation Drugs Market Dynamics Analysis
Anti-Radiation Drugs Market Assessment
Anti-Radiation Drugs Market Segmentation
Anti-Radiation Drugs Market Segmentation By Compound: Potassium Iodide, Prussian Blue, Diethylenetriamine Pentaacetic Acid, Colony Stimulating Factors, and Others
Anti-Radiation Drugs Market Segmentation By Indication: Acute Radiation Syndrome, Cancer Treatment, and Others
Anti-Radiation Drugs Market Segmentation By Radiation Type: Ionizing Radiations and Non-Ionizing Radiations
Anti-Radiation Drugs Market Segmentation By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Others
Anti-Radiation Drugs Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
Porter's Five Forces Analysis, Product Profiles,
Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the anti-radiation drugs market are set to emerge as the trendsetter explore @
Anti-Radiation Drugs Companies
Table of Contents
Interested in knowing the anti-radiation drugs market by 2030? Click to get a snapshot of the
Anti-Radiation Drugs Market Trends
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