PUBLISHER: The Business Research Company | PRODUCT CODE: 1619408
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619408
An alpha emitter is a type of radioactive substance that releases alpha particles during radioactive decay. It includes elements, such as uranium, radium, and plutonium, that undergo alpha decay as part of their natural radioactive processes. Alpha emitters play a significant role in medical treatments, especially cancer therapy, and in various technological applications such as smoke detectors and space exploration.
The main types of radionuclide of alpha emitters are radium, actinium, lead, bismuth, and others. Radium is a radioactive element used in medical treatments and diagnostic procedures. The source is natural sources, artificially produced sources, and others, and applications are pancreatic cancer, ovarian cancer, prostate cancer, lymphoma, melanoma, bone metastasis, and others. It is used by various end-users such as hospitals, medical research institutions, and others.
The alpha emitter market research report is one of a series of new reports from The Business Research Company that provides alpha emitter market statistics, including alpha emitter industry global market size, regional shares, competitors with a alpha emitter market share, detailed alpha emitter market segments, market trends and opportunities, and any further data you may need to thrive in the alpha emitter industry. This alpha emitter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The alpha emitter market size has grown exponentially in recent years. It will grow from $1.06 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 23.2%. The growth during the historic period can be attributed to the rising incidence of cancer, increasing research investments, government support and funding, a growing aging population, and the expansion of radiotherapy centers.
The alpha emitter market size is expected to see exponential growth in the next few years. It will grow to $3.03 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%. The growth during the forecast period can be attributed to rising medical expenditures, an increasing number of patients with cardiac conditions, a growing use of combination therapies, the rising prevalence of targeted alpha therapy, and heightened research and development activities. Key trends expected in this period include advancements in imaging technologies, innovations in products, strategic collaborations, progress in radiopharmaceutical development, and the creation of new alpha-emitting isotopes.
The rising prevalence of cancer is anticipated to drive the growth of the alpha emitter market in the future. Cancer is a disease marked by the uncontrolled proliferation and spread of abnormal cells, which can form tumors and invade nearby tissues. Contributing factors to cancer prevalence include aging populations, environmental exposures, lifestyle changes, and improved detection methods. Alpha emitters are utilized in cancer treatment to target and destroy tumor cells with high precision, while minimizing harm to surrounding healthy tissues. For example, in August 2023, the Australian Institute of Health and Welfare, an Australian government health administration, projected that the number of Americans diagnosed with cancer (excluding basal cell carcinomas and squamous cell carcinomas of the skin) will rise from 151,000 in 2021 to 185,000 by 2030. Consequently, the increasing prevalence of cancer is fueling the growth of the alpha emitter market.
Major companies in the alpha-emitter market are focusing on investing in innovative solutions, such as alpha-emitting radionuclides produced using cyclotrons, to gain a competitive edge. These radionuclides are radioactive isotopes that emit alpha particles during decay and are created by accelerating charged particles to high energies in a cyclotron. For example, in April 2023, Ionetix, a US-based cyclotron and technology company, produced its first alpha-emitting radionuclide, Astatine-211 (At-211), at its newly established Alpha Isotope Manufacturing facility in Lansing, Michigan. This facility is notable as the first in the U.S. dedicated exclusively to producing alpha-emitting radionuclides using cyclotron technology. The production was made possible by commissioning a 30 MeV cyclotron, designed to accelerate alpha particles for the high-yield production of At-211 and Actinium-225 (Ac-225).
In February 2024, Bristol-Myers Squibb Co. (BMS), a US-based biopharmaceutical company, acquired RayzeBio, Inc. for $4.1 billion. This acquisition allows Bristol-Myers Squibb to enhance its oncology portfolio by integrating innovative radiopharmaceutical therapies, particularly targeted alpha-emitter treatments. RayzeBio, Inc. is a US-based provider specializing in alpha emitters.
Major companies operating in the alpha emitter market are Cardinal Health Inc., Bayer AG, Lantheus Holdings Inc., Curium Pharma, Eckert & Ziegler BEBIG GmbH, Telix Pharmaceuticals Limited, NorthStar Medical Radioisotopes LLC, ITM Isotope Technologies Munich SE, Blue Earth Diagnostics Ltd., International Isotopes Inc., IBA Radiopharma Solutions, Orano Med LLC, ARTbio AS, Actinium Pharmaceuticals Inc., Clarity Pharmaceuticals Ltd., RadioMedix Inc., Nordic Nanovector ASA, Convergent Therapeutics, TAE Life Sciences, ABX-CRO advanced pharmaceutical services Forschungsgesellschaft mbH, Fusion Pharmaceuticals Inc.
North America was the largest region in the alpha emitter market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the alpha emitter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the alpha emitter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The alpha emitter market consists of sales of Plutonium-238 (Pu-238), Thorium-227 (Th-227), Polonium-210 (Po-210), and Americium-241 (Am-241). Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Alpha Emitter Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on alpha emitter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for alpha emitter ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The alpha emitter market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.