Italy Peptide Receptor Radionuclide Therapy (PRRT) Market Is Anticipated To Witness High Growth Owing To Rising Prevalence Of Cancer
Italy Peptide Receptor Radionuclide Therapy (PRRT) Market |
The Italy peptide receptor radionuclide therapy (PRRT) market offers significant potential for growth due to the increasing prevalence of various types of cancer in the country. PRRT involves the use of radiolabeled peptides that bind to receptors on cancer cells and deliver radiation therapy internally. The targeted delivery of therapeutic radioisotopes allows for highly effective treatment of neuroendocrine tumors and other cancers. PRRT has emerged as an effective alternative or addition to conventional therapies for metastatic, hormone-resistant, or refractory cancers. Furthermore, PRRT enables non-invasive treatment options with reduced side effects compared to chemotherapy or surgery.
The Global Italy Peptide Receptor Radionuclide Therapy (PRRT) Market is
estimated to be valued at US$ 681.79 Mn
in 2024 and is expected to exhibit a CAGR
of 7.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Italy PRRT market are Beverage Air, Dover
Corporation, Hussmann Corporation, Able Products, Precision Refrigeration,
Nor-Lake, Infrico, TSSC, Ali Group, UKB, Alto Shaam Inc, Williams
Refrigeration, Master-Bilt, Friginox, Adande Refrigeration, Electrolux
Professional, American Panel Corporation, Victory Refrigeration, Traulsen,
Advanced Equipment Inc. These players are focusing on therapeutics development,
expansions, collaborations, and approvals.
There is high potential for market growth due to the rising prevalence of
cancer and increasing adoption of PRRT. The Italian regulatory and
reimbursement scenario is also quite conducive for the uptake of novel cancer
therapeutics like PRRT.
Key players are expanding globally with a focus on Europe and Asia to tap
higher growth opportunities. For example, companies are strengthening their
presence in countries like Germany, UK, France, China, Japan due to promising
demand. Partnerships with regional healthcare providers are also fostering
market access.
Market Drivers
Growing Cancer Burden
The rising incidence and prevalence of various types of cancer in Italy are
major market drivers. According to estimates, there will be around 377,000 new
cancer cases and 149,000 cancer deaths in Italy in 2022. The five most common
cancers in Italy are prostate cancer, breast cancer, colon and rectal cancer,
lung cancer, and melanoma of the skin.
Increasing Uptake of Targeted Radionuclide Therapies
PRRT has emerged as a promising alternative to chemotherapy, surgery, and
external radiation therapy, especially for metastatic neuroendocrine tumors. It
offers highly effective treatment while minimizing adverse effects. This is
leading to its rising uptake in cancer management in Italy.
Market Restraints
High Treatment Costs
PRRT procedures and required radiopharmaceuticals are costly owing to their
specialized nature and production complexities. This poses affordability
challenges, limiting widespread adoption.
Segment Analysis
The Italy
PRRT Market Scope is dominated by neuroendocrine tumors sub segment
currently. Neuroendocrine tumors account for over 65% of the total market share
owing to rising incidence rates and need for precision targeting therapies.
Peptide receptor radionuclide therapies are highly effective in treating
various neuroendocrine tumors by targeting overexpressed somatostatin receptors
on tumor cells. Lutathera is the leading commercial PRRT drug approved for
treating gastrointestinal and lung neuroendocrine tumors. Rising demand for
more efficacious therapy options for hard-to-treat neuroendocrine tumors and
approval of Lutathera have driven growth of this sub segment in recent years.
Global Analysis
Regionally, Northern Italy dominates the Italy PRRT market currently. Major
cancer centers located in cities like Milan, Turin and Genoa in Northern Italy
account for over half of total PRRT procedures conducted in the country.
Presence of state-of-the-art nuclear medicine facilities, availability of
commercial PRRT drugs like Lutathera and high incidence rates of neuroendocrine
tumors have made Northern Italy the fastest growing region. Southern Italy is
also emerging as a lucrative market driven by increasing government focus on
expanding access to advanced oncology therapies across the country. Rising
healthcare investments in Southern regions is likely to strengthen their market
position over the coming years.
Get More Insights On Italy
Peptide Receptor Radionuclide Therapy (PRRT) Market
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