PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392048
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392048
Global Anti-Radiation Drugs Market size is expected to be valued at US$ 587.4 Mn in 2023, and is expected to reach US$ 931 Mn by 2030, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 587.4 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.80% | 2030 Value Projection: | US$ 931 Mn |
Anti-radiation drugs are pharmaceutical medications that are used to combat the harmful effects of radiation exposure in humans. Prolonged exposure to ionizing radiation can have detrimental effects on the body that leads to various health issues such as radiation sickness, cancer, and genetic mutations, and this has boosted demand for anti-radiation drugs in recent years.
These drugs work by protecting the body's cells and DNA from the damaging effects of radiation. These aid in reducing the risk of radiation-induced illnesses and improving the chances of survival for individuals exposed to radiation. Anti-radiation drugs can be used as preventive measures for people working in industries that involve radiation exposure, as well as for individuals in areas prone to natural radiation.
Global anti-radiation drugs market is projected to witness significant growth in the near future. The market growth is driven by increasing prevalence of cancer and growing adoption of radiation therapy in cancer treatment. Rising number of nuclear power plants, along with the potential risk of radiation leaks, further boosts demand for anti-radiation drugs.
There are certain factors that may restrain the market growth. These include the high cost of anti-radiation drugs and the stringent regulatory requirements for drug approval. Moreover, the lack of awareness about the availability and benefits of these drugs among healthcare professionals and the general population could hinder market growth.
Despite the challenges, the market presents numerous opportunities for growth. Increasing investment in research and development activities to develop new and improved anti-radiation drugs expected to offer opportunity to the market. Rising demand for personalized medicine and growing focus on precision healthcare are expected to drive the market growth.
Anti-Radiation Drugs Market Detailed Segmentation: