Peptide receptor radionuclide therapy is used to treat inoperable or metastasized neuroendocrine tumors by attaching radionuclides to peptide vectors that bind to overexpressed somatostatin receptors on neuroendocrine tumor cells. PRRT involves the use of radiolabeled somatostatin analogues such as lutetium-177, yttrium-90, etc. that are administered intravenously to patients. The peptide carriers help in selective delivery of radiation directly to the tumor cells expressing somatostatin receptors. Compared to other therapies, PRRT offers higher response rates and longer progression-free survival along with an improved risk-benefit profile.
The global Italy Peptide Receptor Radionuclide Therapy 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 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The Italy PRRT market is witnessing tremendous growth owing to increase in incidence rates of neuroendocrine tumors. According to a study published in BMC Cancer Journal in 2021, the incidence of neuroendocrine tumors in Italy increased from 1.09 per 100,000 person-years in 2001 to 2.55 per 100,000 person-years in 2019, representing a rising trend. Factors responsible for this rise include better diagnostics, increased clinical awareness and aging population. Since PRRT remains the standard of care for inoperable or metastasized neuroendocrine tumors, its demand is directly correlated with disease prevalence. Another key trend fuelling the Italy PRRT market growth is the approval of new radiopharmaceuticals. In recent years, Italy has approved radiolabeled somatostatin analogues like lutetium-177 (Dotatate), yttrium-90 (Dotatoc), etc. expanding treatment options for neuroendocrine cancer patients.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the Italy peptide receptor radionuclide therapy market requires substantial investment in R&D to develop new peptide-targeted radionuclides.
Bargaining power of buyers: The bargaining power of buyers is high as several peptide-targeted radionuclides are available for cancer treatment in different regions of Italy.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few suppliers of radionuclides and their delivery systems engaged in providing therapies.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options available for cancer.
Competitive rivalry: Competition is medium to high within regional players.
Key Takeaways
The Italy peptide receptor radionuclide therapy market is expected to witness high growth over the forecast period. Italy Peptide Receptor Radionuclide Therapy Market Size 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 2031.
Regional analysis comprises: Northern Italy dominates the market and is expected to maintain its leading position over the forecast period. Hospitals are the major end-users of peptide receptor radionuclide therapy in the region.
Key players operating in the Italy Peptide Receptor Radionuclide Therapy market are Bayer AG, Novartis AG, Blue Earth Diagnostics Ltd, Progenics Pharmaceuticals Inc.
The global Italy Peptide Receptor Radionuclide Therapy market is fragmented with the presence of several global and regional players. Key players are focusing on partnerships and collaborations to expand their market share. For instance, in August 2020, Novartis AG partnered with Telix Pharmaceuticals Ltd to evaluate a combination of Lutetium-177-labeled psma-617 and platinum-based chemotherapy in patients with metastatic castration-resistant prostate cancer.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it