Peptide Receptor Radionuclide Therapy Market will grow at 27.3% CAGR, to be valued at US$ 1,598.9 Million by 2027 – Coherent Market Insights

Peptide receptor radionuclide therapy (PRRT) is a targeted radionuclide therapy and provides radiation to destroy cancer cells via radiolabeled peptides. There are three types of radiations including β−particles (electrons), α particles, and Auger electrons that are used in the peptide receptor radionuclide therapy (PRRT). Among these radiations, β−particles (electrons) are widely used in PRRT, as it has a long-range to penetrate in target tissues (0.05–12 mm), and neighboring cells around the targeted cell/tissue. Peptide receptor radionuclide therapy (PRRT) is majorly used in the treatment of pancreatic & gastrointestinal tract – neuroendocrine tumors.

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The growing incidence of the pancreatic neuroendocrine tumor and gastrointestinal tract neuroendocrine tumor is expected to drive the market growth over the forecast period. According to the American Society of Clinical Oncology’s (ASCO) 2019 statistics, around 1,000 people are diagnosed with pancreatic neuroendocrine tumors each year in the U.S. and it accounts for 7% of pancreatic cancer cases. According to the same source, the number of patients diagnosed with a pancreatic neuroendocrine tumor has been increasing by around 5% per year in the U.S.

The global peptide receptor radionuclide therapy (PRRT) market was valued at US$ 231.5 million in 2018 and is expected to exhibit a CAGR of 27.3% during the forecast period (2019–2027).

Figure 1. Global Peptide Receptor Radionuclide Therapy (PRRT) Market Share (%), By Disease Indication

Source: Coherent Market Insights Analysis (2019)

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Growing research and development activities, in order to develop novel treatment approach for cancer and regulatory approval for peptide receptor radionuclide therapy, are projected to be major factors driving the growth of the global peptide receptor radionuclide therapy (PRRT) market over the forecast period

Increasing pipeline studies to develop novel radiopeptide therapy is projected to drive the growth of the global peptide receptor radionuclide therapy (PRRT) market over the forecast period. For instance, in May 2018, Merck Sharp & Dome Corp, in collaboration with BTG International Inc., initiated phase II clinical trial on peptide receptor radionuclide therapy for patients with well-differentiated neuroendocrine tumors and symptomatic and/or progressive metastases. The study is expected to be completed by November 2020.

Moreover, increasing approvals of the product by the regulatory authority is projected to drive the growth of the global peptide receptor radionuclide therapy (PRRT) market. For instance, in June 2019, Advanced Accelerator Applications S.A. (AAA), a Novartis company, received State of Israel Ministry of Health approval for its Lutathera, for treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs). It is the first PRRT therapy approved in Israel. Lutathera is a lutetium Lu 177-labeled somatostatin analog peptide.

High cost associated with cancer treatment is a major factor that is expected to hamper the growth of the market

According to the World Health Organization’s 2018 data, the economic impact of cancer is increasing significantly. The total annual economic cost of cancer treatment in 2010 was estimated at US$ 1.16 trillion, globally. Moreover, till 2018, only one PRRT drug was approved in the U.S. and Europe based on peptide receptor radionuclide therapy (PRRT) and used in the treatment of somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs) including foregut, midgut, and hindgut neuroendocrine tumors in adults. Therefore, the lack of drugs is another major factor restraining the growth of this market. Novartis company’s drug named Lutathera is priced at US$ 47,500 for a full course of treatment, which comprises four infusions (cost for total 4-doses is US$ 190,000). Therefore, such a high cost of drugs is expected to restrain the growth of this market.

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Regional Analysis

Based on the region, the global peptide receptor radionuclide therapy (PRRT) market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to hold a dominant position in the market, due to increasing product approval by regional drug regulatory authorities such as the U.S. FDA and Health Canada, to launch the products in the region. For instance, in January 2018, Advanced Accelerator Applications (AAA), a subsidiary of Novartis AG, received the U.S. Food and Drug Administration approval for its Lutetium (177Lu) Oxodotreotide (Lutathera) drug, which is indicated for gastroenteropancreatic neuroendocrine tumor.

Moreover, the Asia Pacific peptide receptor radionuclide therapy (PRRT) market is expected to hold a significant market share over the forecast period, due to the increasing incidence of the neuroendocrine tumor and growing adoption of smart strategies by major manufacturers. For instance, in June 2015, Advanced Accelerator Application, a subsidiary of Novartis AG, entered into a distribution agreement for Lutathera with FUJIFILM RI Pharma, Co., LTD. According to the agreement, FUJIFILM will be marketing and distributing Lutathera in the Japan market.

Figure 2: Global Peptide Receptor Radionuclide Therapy (PRRT) Market Share (%), By Region

Source: Coherent Market Insights Analysis (2019)

Novartis AG (Advanced Accelerator Applications, S.A.) is the major player operating in the global peptide receptor radionuclide therapy (PRRT) market.

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