by Peptide receptor radionuclide therapy (PRRT) is a form of molecular radiotherapy wherein peptides that bind to receptors on cancer cells are tagged with therapeutic radionuclides. These tagged peptides help deliver cytotoxic radiation directly to receptor-expressing tumors while sparing most normal tissues. Some of the commonly used peptides include octreotide, pentetreotide, yttrium-90 and lutetium-177. The global PRRT market witnessed increasing demand from hospitals and cancer treatment centers for treating neuroendocrine tumors (NETs). NETs originate from neuroendocrine cells and most commonly occur in the appendix, small intestine, rectum, and lungs. NETs typically progress slowly and the risk of metastasis increases with advanced-stage disease.
The Italy PRRT Market is estimated to be valued at US$ 681.79 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
The geriatric population in Italy has been on the rise over the past few years. As per data from the World Population Prospects 2022 report, nearly 23.1% of the population in Italy was aged 65 years and above in 2024. This is expected to drive the demand for advanced cancer therapies such as PRRT for treating neuroendocrine and other tumors in the aging population.
Market Dynamics:
One of the key drivers for the growth of Italy PRRT Market is the rising geriatric population. As per the given market overview, the aging population is more prone to develop neuroendocrine and other types of tumors. This increases the patient pool requiring specialized therapies like PRRT. Furthermore, PRRT offers targeted radiation treatment for NETs with fewer side effects compared to other traditional cancer therapies. This makes it an increasingly preferred treatment option for older cancer patients. Another driver is the growing prevalence of neuroendocrine tumors. As discussed earlier, NET incidence has been rising over the past decade. Improved diagnostic capabilities have aided early detection and treatment-seeking of NETs, further propelling the PRRT market growth.
Segment Analysis
The Italy Peptide Receptor Radionuclide Therapy market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market in 2024, accounting for nearly 55% share. Factors such as availability of advanced healthcare facilities, favorable reimbursement policies for targeted radionuclide therapies procedures performed in hospitals, are responsible for the large share of this segment.
Pest Analysis
Political: Italy experiences political stability and encourages adoption of advanced healthcare technologies. However, stringent regulations for approval of new radionuclide drugs may hinder market growth to some extent.
Economic: Italy has a per capita GDP of over $40,000 providing scope for growth in healthcare spending including targeted radionuclide therapies. Growth of medical insurance and favorable pricing may support the market.
Social: Rising incidence of cancer and increasing awareness about new treatment options positively impact the market. However, high costs associated can act as a restraint.
Technological: Advancements in radiochemistry and development of alpha and beta emitting radiopharmaceuticals have widened applications and improved outcomes. Investments in R&D are expected to enhance competitiveness.
Key Takeaways
The Italy Peptide Receptor Radionuclide Therapy market is projected to witness noteworthy growth led by the rising prevalence of neuroendocrine tumors and gastrointestinal stromal tumors. Italy Peptide Receptor Radionuclide Therapy Market Sizeis estimated to be valued at US$ 681.79 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
The regional market accounted for over 25% share in Europe in 2024. Factors such as presence of leading manufacturers, strong research base, and availability of skilled healthcare professionals are supporting market growth.
Key players operating in the Italy Peptide Receptor Radionuclide Therapy market are Telix Pharmaceuticals Limited, Curium, Novartis AG, Nukepiderm Inc. Telix Pharmaceuticals holds over 40% share owing to its comprehensive portfolio of radiopharmaceutical candidates in clinical development. The company is conducting various phase 3 trials to expand product applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
