Radioimmunotherapy (RIT) is the combination of radiation therapy and immunotherapy mainly used to treat non-Hodgkin lymphoma for the newly diagnosed patients, and the various types of cancers in the patients who failed to response the chemotherapy treatment.
For instance,according to National Cancer Institute estimation about 1.81 million cancer cases were found worldwide in 2018. Moreover, in 2020, about 1,806,590 active cases are present in U.S.
Globally, the COVID-19 pandemic outbreak has impacted the global economy in several ways such as limited surgical centers, insufficiency of labor force, short fall of medical supplies due to disruption in the supply chain and high demand for the COVID treatment has projected short-term negative impact on the global radioimmunotherapy (RIT) market.
Radioimmunotherapy (RIT) Market: Drivers and Restraints
Increasing adoption of targeted therapies, rise in adverse complications with the radiation therapy are the few propellants of radioimmunotherapy (RIT) market. Emerging clinical pipeline of radioimmunotherapy and focus towards the innovative treatment techniques for enhancing the patient outcomes expected to drive the global market radioimmunotherapy (RIT) during the forecast period.
Rise in incidence of cancer cases, increased preference to the intense research and development of the cancer therapeutics are expected to drive the global radioimmunotherapy (RIT) market growth. The ambiguities of lack of evidence based prognostic factors during the treatment and the high charge for therapy are the factors that expected to restrain the radioimmunotherapy (RIT) market growth during the forecast period.
Radioimmunotherapy (RIT) Market: Segmentation
Based on the drug type, the radioimmunotherapy (RIT) market is segmented as:
Based on the application, the radioimmunotherapy (RIT) market is segmented as:
- Non Hodgkin Lymphoma (NHL)
- Follicular Lymphoma
- Breast Cancer
- Ovarian Cancer
Based on the end user, the radioimmunotherapy (RIT) market is segmented as:
- Ambulatory surgical centers
- Cancer research institute
Based on region, the Radioimmunotherapy (RIT) market is segmented as:
- North America
- Latin America
- South Asia
- East Asia
- Middle-East & Africa (MEA)
Radioimmunotherapy (RIT) Market: Overview
The global radioimmunotherapy (RIT) market manifests a considerable growth during the forecast period owing to rising incidence of the cancer among the population. Based on the drug type, the Ibritumomab hold the largest market share. Ibritumab, a murine-dervied antibody with short half-life owing to the major advantage of reducing bone marrow toxicity of the attached isotopes was the main reason in rising preference for the Ibritumab drug over the others.
On the basis of application, Non Hodgkin Lymphoma hold the largest market share due to rise in research and development to treat the disease. Based on the application, leukemia is the dominating segment. Leukemia is radiosensitive, and thus, more likely to response to the radioimmunotherapy. Hospitals governs the end user segment owing the availability of better facilities, along with health care professional expected to contribute the growth of the radioimmunotherapy market.
Radioimmunotherapy (RIT) Market: Region-wise Outlook
North America evidence to dominate the global radioimmunotherapy (RIT) market during the forecast period owing to rising prevalence of cancer cases, availability of reimbursement, and increasing healthcare expenditure. Europe is the second leading region in radioimmunotherapy (RIT) market due to the growing incidence of the cancer, rise in the consumption of tobacco and smoke by the increasing population in the region. Globally, around 33% of cancer cases are rising due to the high consumption of tobacco and smoke.
South Asia and East Asia regions witnessed significant growth owing to rise in funding by regional government bodies, awareness about the early diagnosis expects to drive the radioimmunotherapy (RIT) market.
Other regions like Latin America and Middle East and Africa are the emerging regions in the radioimmunotherapy (RIT) market.
Radioimmunotherapy (RIT) Market: Leading Key Players
The major players contributing in radioimmunotherapy (RIT) market are GlaxoSmoithKlline plc, Bayer Healthcare Pharmaceuticals, BioSynthema, Inc., Molecular Insight Pharmaceuticals, Telix Pharmaceuticals, Spectrum Pharmaceuticals, Inc., MabVax Therapeutics Holdings, Inc., Nordic Nanovector, Immunomedics, Inc., Actinium Pharmaceuticals, NorthStar Medical Technologies, Clarity Pharmaceuticals, and others.
The research report on radioimmunotherapy (RIT) market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on market provides analysis and information according to market segments such as drug types, applications, and end users.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, Italy, France, U.K, Spain, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, ASEAN)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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