Radioimmunotherapy Treatment Market Forecast By 2027
Cancer is a leading cause of death worldwide and is projected to rise with an estimated 11.5 million deaths in 2030. The most common cancer is lung cancer, accounting about 1.59 million deaths, other types of cancer include liver cancer, breast cancer, stomach cancer, liver cancer, etc. Cancer can be treated by surgery, chemotherapy, radiation therapy, hormone therapy, targeted therapy, precision medicine, immunotherapy and stem cell transplantation. Immunotherapy involves the use of person’s immune system to fight cancer; it involves the stimulation of immune system to attack the cancer cells or provide the immune system with a man-made immune system.
Different types of immunotherapy include monoclonal antibodies, designed to attack the specific cells; immune checkpoint inhibitors, drugs that recognize and attack the cancer cells by removing the brakes of the T cell; cancer vaccines, used to trigger the immune response against specific disease and various other non-specific immunotherapy are used to boost the immune system. Radioimmunotherapy is the combination of radiation therapy and immunotherapy. Monoclonal antibody is engineered in the laboratory and paired with a radioactive material called radiotracers. When injected, radio labeled antibody to bind to the specific cancer cell and destroyed the cancer cell by its radioactivity. The radioactive agents used mainly are Yttrium-90 Ibritumomab Tiuxetan, Iodine-131 Tositumomab, and others.
Several clinical trials are ongoing to establish the potential of radio labeled monoclonal antibody. Radioimmunotherapy is also used to treat patients suffering from non-Hodgkin B-cell lymphoma, and other sub-types of lymphoma or patients who does not respond to chemotherapy. Generally, no side effects are seen during the treatment. In clinical field, clinical studies are done to enhance biological and chemical efficacy and treatment procedure improvements in radioimmunotherapy. Both direct and indirect method are used in the delivery of radioimmunotherapy molecules. Increasing discretionary funding for cancer research by government and federal agencies, increase in Medicare coverage, rising prevalence of cancer among growing population, availability of new cancer treatment, and various other factors are will booth the radioimmunotherapy market in the near future.
Radioimmunotherapy Treatment Market: Drivers and Restrains
According to Word Health Organization, it is estimated that by 2030, about 23.6 million new cases of cancer will prevail worldwide. Governmental guidelines from American Society of Clinical Oncology and National Comprehensive Cancer Network (NCCN /ASCO) are providing help to healthcare professionals in the management and treatment of cancer patients. Intense research and development in cancer therapeutics, the rise in the incidence of cancer cases, increased preference towards cancer research. In April 2016, the U.S. Government allocated US$ 5.2 Bn for the National Cancer Institute (NCI), a federal government agency, for cancer research and training. The budget increased by 5.3% as compared to the previous year. Insurance coverage and reimbursement issues, big companies are investing heavily in the cancer therapeutics involving both time and money, and there is no guarantee that the product will get coverage, radiation risk to healthcare professionals and patients are some factors that may decline the growth of radio-immunotherapy market
Radioimmunotherapy Treatment Market: Segmentation
The global radioimmunotherapy treatment market has been classified on the basis of drug type, procedure type, disease indication, target type and geography.
Based on Drug Type, the radioimmunotherapy treatment market is divided into following:
Based on the Procedure Type, the global radioimmunotherapy treatment market is divided into following:
- Direct Method
- Indirect Method
Based on the Disease Indication, the global radioimmunotherapy treatment market is divided into following:
- Non-Hodgkin lymphoma
- Myeloid leukemia
- Colorectal cancer
- Breast Cancer
- Multiple Myeloma
Based on the End User, the global radioimmunotherapy treatment market is divided into following:
- Ambulatory surgical centers
- Cancer Research Institutes
Radioimmunotherapy Treatment Market: Overview
Based on the drug type, the global radioimmunotherapy treatment market is segmented into ibritumomab, tositumomab, rituximab, epratuzumab, lintuzumab, labetuzumab and trastuzumab. On the basis of procedure type the radioimmunotherapy treatment market is segmented into direct and indirect method. O On the basis of disease indication, the market is segmented into non-hodgkin lymphoma, myeloid leukemia, colorectal cancer, breast cancer, multiple myeloma and others. Based on end user, the market is segmented into hospital, ambulatory surgical centers and cancer research institutes. The rise in cancer patient population, funding by the governmental bodies, focus on acquisition and merger by various key manufacturers is attributed towards the growth of radio-immunotherapy treatment market
Radioimmunotherapy Treatment Market: Regional Overview
Region wise, the global Radioimmunotherapy Treatment Market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. More than 70% of world’s cancer death occurs in Africa, Asia and South America. Around 33% of cancer cases worldwide are due to smoke and tobacco. Along with expansion in the emerging markets, and greater focus on early diagnosis, screening, monitoring and clinical development associated with radiotherapy treatment have been the major strategies adopted by major players in the global radioimmunotherapy treatment market.
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Radioimmunotherapy Treatment Market: Key Players
Some of the key players in global Radioimmunotherapy Treatment Market are GlaxoSmithKline plc. Bayer AG, MabVax Therapeutics Holdings, Inc., Panacea Pharmaceuticals, Inc. Nordic Nanovector, Actinium Pharmaceuticals, Inc., Immunomedics, Inc., Spectrum Pharmaceuticals, Inc.and others.