PUBLISHER: Acute Market Reports | PRODUCT CODE: 1248131
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1248131
The incidence of radiation toxicity is on a rise with increase in treatment and diagnosis of various diseases using radiation therapy and nuclear medicine, thus driving the overall market growth. Cancer treatment predominantly utilizes radiation therapy to treat tumours and cancerous cells. Growing prevalence of cancer thus increases the rate of radiation therapy indicating growing risk of radiation toxicity. The American Cancer Society projected 1,735,350 new cancer cases to occur in US in the year 2018 and further estimated 609,640 deaths to occur in the similar year. Based on various research studies, around 60% patients undergo radiation therapy of which 5-10% experience radiation toxicity. However, the high cost of radiation therapy would lead to lesser patients opting for it particularly in low and middle-income regions. This factor could reduce the rate of radiation toxicities thus restraining the market growth.
The treatment options for radiation toxicity comprise bone marrow transplant, blood/ platelet transfusion (used to treat anaemia conditions), and antibiotics (prescribed to diminish the threats of various infections). Aeolus pharmaceuticals is currently developing (Phase I) a molecule named AEOL-10150 for the treatment of acute radiation syndrome.
Radiation toxicity can occur due to either intentional exposure to radiations or accidental exposure such as nuclear power plant accidents. Providing first aid to radiation victims may also increase the risk of exposure of radiation to the rescue personnel. The rising number of respective patients has attracted many pharmaceutical industries to invest in this market and carry out various research activities in development of suitable therapies.
North America predominates the global radiation toxicity treatment market with market share of 38% in 2022, which is followed by Europe. The dominance is attributed to the growing awareness on available treatment options. Asia Pacific is also a potential market owing to its developing healthcare infrastructure, rising awareness on healthcare and growing cancer prevalence.
The Global Radiation Toxicity (Radiation Sickness, Acute Radiation Syndrome) Treatment Market is segmented as follows:
The key industrial players enjoying supremacy in this market are Aeolus Pharmaceuticals, Cantex Pharmaceuticals, Inc., Cleveland BioLabs, Inc., Gamida Cell Ltd., Nanotherapeutics, Inc., NeoStem, Inc., Onconova Therapeutics, Inc., Osiris Therapeutics, Inc., Tonix Pharmaceuticals Holding Corp And Others.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Radiation Toxicity (Radiation Sickness, Acute Radiation Syndrome) Treatment market are as follows:
Micro and macro environment factors that are currently influencing the Radiation Toxicity (Radiation Sickness, Acute Radiation Syndrome) Treatment market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.