The Italy Peptide Receptor Radionuclide Therapy (PRRT) Market is estimated to be valued at US$ 591.83 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Peptide receptor radionuclide therapy (PRRT) uses ligands labeled with radionuclides to selectively target tumors expressing somatostatin receptors. The therapy helps in internal radiotherapy treatment of neuroendocrine tumors and other cancers. It involves intravenous injection of peptide molecules conjugated with radionuclides like yttrium-90 and lutetium-177 that bind to receptors overexpressed on tumor cell surfaces. This allows delivery of cytotoxic radiation directly to the tumor while sparing most normal tissues.
Market key trends:
One of the key trends fueling the growth of Italy PRRT market is rising incidence of neuroendocrine tumors (NETs) and cancers. According to the National Cancer Institute, it was estimated that around 13,940 adults (7,120 men and 6,820 women) in the United States would be diagnosed with a NET in 2022. The increasing burden of cancer cases is generating high demand for advanced targeted therapies like PRRT. Further, growing awareness about advantages and effectiveness of PRRT over other cancer treatment options is also boosting its uptake in recent years.
Porter’s Analysis
Threat of new entrants: Low barriers to entry protect the industry as regulations require extensive clinical trials and high capital investments for manufacturing capabilities.
Bargaining power of buyers: Individual patients have limited bargaining power due to availability of few treatment alternatives and life-threatening conditions. However, group purchasing organizations can negotiate lower drug prices.
Bargaining power of suppliers: Suppliers of peptide drug formulations and medical isotopes have significant bargaining power due to proprietary technology, specialized manufacturing processes and scarce resources.
Threat of new substitutes: While targeted therapy and chemotherapy remain alternatives, no substitutes entirely replace the specificity and efficacy of PRRT in treating neuroendocrine tumours.
Competitive rivalry: Intense competition exists between recent market entrants seeking to gain market share through new clinical evidence and product innovation.
SWOT Analysis
Strengths: PRRT is a highly targeted and effective therapy for neuroendocrine tumours. Established clinical evidence and therapy guidelines support its use.
Weaknesses: High treatment costs pose affordability challenges. Supply chain dependencies on scarce medical isotopes introduce uncertainties.
Opportunities: Expanding eligible patient population through new labeled indications and ongoing trials. Geographic expansion into emerging markets presents growth potential.
Threats: Reimbursement pressures and pricing concessions can compress margins. Advancements in substitute targeted therapies raise competitiveness in line of treatment.
Key Takeaways
The Global Italy Peptide Receptor Radionuclide Therapy (PRRT) Market Size is expected to reach US$ 891.83 Mn by 2030, growing at a CAGR of 8.2% over the forecast period. The increased diagnosis rate of neuroendocrine tumours and availability of clinical evidence supporting PRRT's efficacy are driving higher adoption.
The Italy PRRT market is dominated by the northern region, which accounts for over 60% revenue share owing to considerable research activities at specialized centres and regional health authorities actively supporting PRRT access.
Key players operating in the Italy PRRT market are Advanced Accelerator Applications (AAA), Novartis, and Progenics Pharmaceuticals. AAA leads with over 50% market share through its Lutathera (lutetium Lu 177 dotatate) product. Players are investing in additional clinical trials to expand approved indications and geographic reach.
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