Radioligand Therapy (RLT) Market: Introduction
- Radioligand therapy (RLT) is a targeted therapeutics option for a cancer treatment. Radiopharmaceutical is infused or injected into a peripheral vein. Ligands are labelled with radioactive isotopes, mostly beta-emitters, such as lutetium-177. High rate of long-lasting tumor remission and stabilization can be achieved using radioligand therapy (RLT).
- Radioligand therapy (RLT) is a systemic therapy which is used in metastasized disease treatment. In radioligand therapies, radiopharmaceuticals bind to a tumor target.
- NET radioligand therapy is also known as peptide-receptor radionuclide therapy (PRRT). NET peptides targeting the somatostatin-receptor (SSTR) are used for treatment of neuroendocrine tumors.
- For prostate cancer treatment, radioligand specifically binds prostate-specific membrane antigen (PSMA). Prostate-specific membrane antigens (PSMA) are overexpressed in prostate cancer.
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Key Drivers of Global Radioligand Therapy (RLT) Market
- The global radioligand therapy market is likely to be driven by increase in footprint of pharmaceutical manufacturers in potential markets in Asia Pacific, Latin America, and Middle East & Africa
- Research & development of radioligand therapy candidate to treat a broad range of cancer types is expected to propel the global radioligand therapy treatment market during the forecast period. Endocyte's Lu-PSMA-617 is a radioligand therapy candidate which is currently under phase III clinical trial for treatment of prostate cancer.
- Increase in prevalence of cancer across the globe is expected to fuel the market growth during the forecast period. According to the American Cancer Society, in 2019, around 174,650 new cases for prostate cancer were diagnosed in the U.S.
- Strategic acquisition by leading players operating in radioligand therapy is helping manufacturers in expanding cancer product pipeline. Thus, approval and commercialization of pipeline products in the near future is expected to propel the market during the forecast period.
- In October 2018, Novartis underwent purchase agreement with Endocyte to purchase Endocyte's Lu-PSMA-617 clinical product
North America to Hold Major Share of Global Radioligand Therapy (RLT) Market
- North America is projected to lead the market during the forecast period. North America is the leading market for radioligand therapy (RLT) driven by high rate of adoption of radioligand therapy products after FDA approval. According to Novartis, Lutathera has been prescribed to over 1,100 patients in the U.S.
- Increase in awareness about the radioligand therapy and rise in patient base suffering from cancer in the U.S. are expected to drive the market in the region. Manufacturers are focused to enter into partnership with laboratories for research & development of radioligand therapy candidate which is anticipated to propel the market in the U.S.
- Governments in Europe have favorable reimbursement policies. Furthermore, increase in research laboratories, rise in prevalence of cancer, and increase in funding provided by governments are anticipated to propel the market in the region during the forecast period.
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Key Players Operating in Global Market
Major players operating in the global radioligand therapy market are:
- Novartis AG
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
Global Radioligand Therapy (RLT) Market: Research Scope
Global Radioligand Therapy (RLT) Market, by Indication
- Prostate Cancer
- Gastroenteropancreatic Neuroendocrine Tumors (GEP-NETs)
Global Radioligand Therapy (RLT) Market, by Product
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.