Rise in investment in R&D by pharma and biotech companies for the development of effective drugs for acute radiation syndrome or ARS propels market growth
Increase in efforts by pharmaceutical companies to develop innovative radiopharmaceutical products augments industry development
WILMINGTON, Del., Dec. 13, 2022 /PRNewswire/ -- The global anti-radiation drugs market was valued at US$ 3.4 Bn in 2021 and is anticipated to grow at a CAGR of 9.9% from 2022 to 2031. Increase in demand for drugs, such as Prussian Blue, Diethylenetriamine pentaacetate or DTPA, and potassium iodide or KI, to block the concentration and absorption of radioactive iodide in the human thyroid gland propels market growth. Moreover, the threat of nuclear disaster looms over humanity owing to the increasing number of nuclear weapons and warheads in the world. Therefore, rise in efforts by countries to be prepared for nuclear or radioactive disasters by developing radiation countermeasures is augmenting market development.
Quick Delivery Available | Buy this Premium Research Report –
Anti-radiation Drugs Market - Key Findings of the Report
Rise in Prevalence of Acute Radiation Syndrome: As per market research, the acute radiation syndrome (ARS) segment dominated the industry in 2021. ARS, at present, is considered the most crucial and challenging aspect regarding public health and well-being in a likely case of radiological or nuclear incidence. Apart from ARS, increasing incidence of cancer is boosting market growth.
Growing Demand for Potassium Iodide Products: Based on type of compound, the potassium iodide (KI) segment led the global market in 2021. Tablets and drug formulations manufactured using potassium iodide compounds offer excellent protection against certain cases of exposure to harmful radiations. Furthermore, being a highly soluble form of iodine, KI compounds are the widely used active pharmaceutical ingredients in the radiopharmaceuticals industry. Apart from this, owing to its recorded effectiveness and safe nature in treating patients suffering from radiation exposure in the Chernobyl disaster, KI compounds are considered to be safest in treating ARS, even in small children.
Anti-radiation Drugs Market – Growth Drivers
Surge in incidence of cancer propels demand for anti-radiation drugs
Rise in prevalence of acute radiation syndrome or ARS
Increase in concerns pertaining to usage of nuclear weapons in global conflict is anticipated to augment market growth in the next few years
Ask for References –
Anti-radiation Drugs Market - Key Players
Key players and manufacturers assessed in this market research are Arco Pharmaceuticals LLC, Cellphire, Inc., Darnitsa, Humanetics Corporation, Myelo Therapeutics GmbH, Pluri, Inc., Anbex Inc., BTG Pharmaceuticals LLC, Chrysalis BioTherapeutics, Inc., Enzychem Lifesciences Corporation, Mission Pharmacal Company, and Partner Therapeutics. The global market is consolidated, with the presence of a relatively small number of leading and tier 1 players. These players adopt growth strategies, such as merger & acquisition, and launch of new products, to increase market share. Manufacturers are also focused on increasing research & development initiatives and projects in order to design, develop, and test new compounds and drug formulations that display enhanced anti-radiation properties.
Anti-radiation Drugs Market - Regional Growth Assessment
North America is anticipated to lead the global industry in the next decade. Key factors driving the market in the region are increase in the number of radiation treatment facilities and rise in investment by stakeholders in the anti-radiation medical devices industry. Furthermore, growing participation and significant role played by the U.S. Government for developing biologically produced medical countermeasures for acute radiation syndrome are expected to propel the market demand.
Anti-radiation Drugs Market: Segmentation
Anti-radiation Drugs Market, by Compound
Potassium Iodide (KI)
Prussian Blue
DTPA (Diethylenetriamine Pentaacetate)
Others
Anti-radiation Drugs Market, by Application
Acute Radiation Syndrome (ARS)
Cancer Treatment
Radiation Exposure
Others
Anti-radiation Drugs Market, by Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Others
Anti-radiation Drugs Market, by Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Make an Enquiry Before Buying –
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:
Halal and Kosher Empty Capsules Market: Halal and Kosher Empty Capsules Market is anticipated to reach more than US$ 2.9 Bn by the end of 2031 and to grow at a CAGR of 8.0% from 2022 to 2031.
Alzheimer's Disease Biomarkers Market: Alzheimer's Disease Biomarkers Marketis anticipated to grow at a CAGR of 7.3% from 2022 to 2031 and reach more than US$ 1.7 Bn by the end of 2031.
Animal Drug Compounding Market: The global animal drug compounding market is anticipated to be reach more than US$ 2.4 Bn by the end of 2031 at a CAGR of 7.4% between 2022 and 2031.
Primary Progressive Multiple Sclerosis Treatment Market: Primary Progressive Multiple Sclerosis Treatment Market is projected to advance at a CAGR of 14.7% from 2022 to 2031 ad reach more than US$ 3.2 Bn by the end of 2031.
Fusion Inhibitors Market: Fusion Inhibitors Market is projected to advance at a CAGR of 14.2% from 2022 to 2031 and reach more than US$ 7.2 Bn by 2031.
Rare Kidney Diseases Treatment Market: Rare Kidney Diseases Treatment Market is projected to grow at a CAGR of 5.8% from 2022 to 2031 and reach more than US$ 4.6 Bn by the end of 2031.
Asthma Treatment Market: Asthma Treatment Market is projected to grow at a CAGR of 3.7% from 2022 to 2031 and reach more than US$ 34.5 Bn by the end of 2031.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update -
Contact
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website:
Blog:
Email: [email protected]
Logo:
SOURCE Transparency Market Research