According to a study published by Insure Insights, the global peptide receptor radionuclide therapy (PRRT) is estimated to grow at a CAGR of 28.1% during the forecast period. Peptide receptor radionuclide therapy (PRRT) acts as a targeted radionuclide therapy. It provides radiation to destroy cancer cells through radiolabeled peptides. Primarily there are three types of radiations, including β−particles (electrons), α particles, and Auger electrons that are utilized in the peptide receptor radionuclide therapy (PRRT). Among these radiations, β−particles (electrons) are widely employed 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 primarily used in the treatment of pancreatic & gastrointestinal tract – neuroendocrine tumors.

Top Driver: Increasing Incidence of the Pancreatic Neuroendocrine Tumor and Gastrointestinal Tract Neuroendocrine Tumor

The increasing incidence of the pancreatic neuroendocrine tumor and gastrointestinal tract neuroendocrine tumor is expected to propel the market growth during the forecast period. As per the American Society of Clinical Oncology’s (ASCO) 2019 statistics, approximately 1,000 people are diagnosed with pancreatic neuroendocrine tumors every year in the U.S., and it accounts for 7% of pancreatic cancer cases. Extended research and development activities to develop a novel treatment approach for cancer and regulatory approval for peptide receptor radionuclide therapy are expected to be significant factors driving the growth of the market during the forecast period. Increasing pipeline studies to develop novel radiopeptide therapy is expected to drive the market. Further, increasing product approvals by the regulatory authority are expected to fuel the global peptide receptor radionuclide therapy (PRRT) market.

Hospital Segment is Expected to Witness Significant Growth During the Forecast Period

The global peptide receptor radionuclide therapy (PRRT) market has been segmented into hospitals, cancer care centers, and other on the basis of distribution channel. Among these, the hospital segment is estimated to grow at a significant rate during the forecast period owing to the extensive demand in the hospitals. On the basis of indication, the market is segmented into foregut neuroendocrine tumors, hindgut neuroendocrine tumors, and midgut neuroendocrine tumors. On the basis of drug type, the market is segmented into dotatoc and dotatate.

Increasing Product Approval by Regional Drug Regulatory Authorities to Benefit North America Market

The global peptide receptor radionuclide therapy (PRRT) market is segmented into North America, Europe, Asia Pacific, and SAMEA on the basis of region. North America is anticipated 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 introduce the products in the region. For instance, in January 2018, Advanced Accelerator Applications (AAA), a subsidiary of Novartis AG, obtained the U.S. Food and Drug Administration approval for its Lutetium (177Lu) Oxodotreotide (Lutathera) drug, which is used in the treatment of gastroenteropancreatic neuroendocrine tumor. Following North America, the Asia Pacific peptide receptor radionuclide therapy (PRRT) market is estimated to hold a significant market share during the forecast period due to the increasing incidence of neuroendocrine tumors and rising acceptance of expansion strategies by key manufacturers.

Players to Focus on Product Approvals

The global peptide receptor radionuclide therapy (PRRT) market is expected to stay fragmented owing to the possible new entrants during the forecast period. The market players are focused on introducing new products and getting approval from authorities. Major market players operating in the market are Novartis, ITM Solucin, National Institutes of Health, Australasian Gastro-Intestinal Trials Group.

Scope of the Report

By Type

• Dotatoc
• Dotatate

By Indication

• Foregut neuroendocrine tumor
• Midgut neuroendocrine tumor
• Hindgut neuroendocrine tumor

By Distribution Channel

• Hospitals
• Cancer Care Centers
• Other

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.