Radiation Toxicity Treatment Market is anticipated to reach US$ 5.58 Billion by 2029

According to a recent market analysis conducted by Future Market Insights (FMI), the global Radiation Toxicity Treatment Market was valued at US$ 3.76 billion in 2022 and is predicted to reach US$ 5.58 billion by 2029.

Installed base of internal radiation therapy machines has tremendously increased over the past decade. Improving reimbursement scenario and favorable government policy framework in the field of cancer care are adding to the accessibility of radiation therapy, thereby favoring the growth of radiation toxicity treatment market.

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The study suggests that notable players in Asia Pacific will continue to invest heavily in the development of new radiation therapies, in line with the increasing cancer prevalence and improving rate of diagnosis in the region.

Rising incidence of radiation toxicity in healthcare and chemicals industries continues to push the demand for effective treatment. Another important factor complementing the market growth includes recent FDA approvals to multiple orphan drugs that are proven to effectively increase the survival rate in adult and paediatric patients who are suffering from radiation sickness. These application areas continue to create growth opportunities in the radiation toxicity treatment market.

Key Takeaways – Radiation Toxicity Treatment Market Study

• Increasing adoption of colony stimulating factors such as Neulasta from Amgen will account for more than 75% of revenue share in the radiation toxicity treatment market through 2029 end.
• Attributed to high incidences of radiation toxicity due to emission of gamma radiation from positron emission tomography (PET) and single-photon emission computed tomography (SPECT) scanners installed at hospitals and diagnostic centers, non-ionizing radiation is also set to offer lucrative opportunity to market participants.
• North America continues to lead its way in the radiation toxicity treatment market, while South Asia is foreseen to grow at a significant rate in the near future.

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Who Is Winning?

Some of the key players operating in the radiation toxicity treatment market include Amgen Inc., Partner Therapeutics, Mylan N.V., and Novartis AG. Leading players of the radiation toxicity treatment market are focusing on acquiring smaller companies to enhance their product portfolio and improve regional market positioning.

For instance, Siegfried Group announced the acquisition of drug product manufacturing facility together with all related employees and contracts from Arena Pharmaceuticals GmbH in Zofingen, Switzerland. Also, in 2018, Partner Therapeutics (PTx) acquired global rights to develop, manufacture, and commercialize Leukine (sargramostim) from Sanofi.

More insights available

North America is expected to dominate the radiation toxicity market due to the high incidence of cancer in the region, favorable reimbursement policies, and a well-established healthcare infrastructure. Europe is also expected to witness significant growth in the radiation toxicity market due to increasing government initiatives to promote radiation therapy and rising investments in research and development activities.

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Radiation toxicity treatment Market by Category

By Product:

• Colony Stimulating Factors
• Potassium Iodide
• Prussian Blue
• Diethylenetriamine Pentaacetic Acid
• Others

By Indication:

•  Acute Radiation Syndrome
  • Bone Marrow Syndrome (Hematopoietic)
  • Gastrointestinal Syndrome (GI)
  • Cardiovascular (CV)
• Chronic Radiation Syndrome

By Radiation Type:

• Ionizing Radiation
  • Alpha Radiation
  • Beta Radiation
  • Gamma Radiation
• Non-ionizing Radiation

By End-User:

• Hospitals
  • Government Hospitals
  • Private Hospitals
• Research & Academic Institutes
  • Government Research and Academic Institutes
  • Private Research and Academic Institutes

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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