Anti-Radiation Drugs Market Highlights
The global anti-radiation drugs market is accounted to register a CAGR of 10.20% during the forecast period and is estimated to reach USD 8.62 Billion by 2032.
The anti-radiation drugs market focuses on providing pharmaceutical solutions to mitigate the harmful effects of radiation exposure on individuals. This market's growth is driven by concerns related to nuclear accidents, medical procedures, and potential threats. Key factors include advancements in radioprotective treatments, regulatory approvals, and the adoption of radiation safety measures.
Key Players
MRFR recognizes the following companies as the key players in the global anti-radiation drugs market— Amgen Inc., Anbex Inc., Arco Pharmaceuticals LLC, BTG International Inc., Cellphire, Inc., Chrysalis BioTherapeutics, Inc., Darnitsa, Enzychem Lifesciences Corporation, Humanetics Corporation, Mission Pharmacal Company, Myelo Therapeutics GmbH, Partner Therapeutics, Pluri Inc. and others
Segment Analysis
The global anti-radiation drugs market has been segmented based compound, application and distribution channel.
On the basis of compound, the market is segmented into potassium lodide (Kl), prussian blue, DTPA (diethylenetriamine pentaacetate) and others. The potassium lodide (Kl) segment dominated the market in 2022. The high demand for KI pills as radiation protection is the cause of this.
Based on application, the global anti-radiation drugs market has been segmented into acute radiation syndrome (ARS), cancer treatment, radiation exposure and others. The acute radiation syndrome (ARS) segment dominated the market in 2022. This is because ARS is serious and can be fatal if not treated right away.
Based on distribution channel, the global anti-radiation drugs market has been segmented into hospital pharmacies, retail pharmacies and others. The hospital pharmacies category generated the most income in 2022. This is because hospital pharmacies serve as the primary source of anti-radiation drugs for patients receiving treatment for cancer or ARS.
Regional Analysis
The global Anti-radiation drugs market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe anti-radiation drugs market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Anti-radiation drugs market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Anti-radiation drugs market comprises of Middle East, Africa, and Latin America.
The North America anti-radiation drugs market dominated this market in 2022 (45.80%). Both the United States and Canada have active nuclear power industries. The need for anti-radiation pharmaceuticals to protect local residents and employees is highlighted by the presence of nuclear power plants, radiation-using research organizations, and healthcare facilities.
Moreover, the Europe market has been persistently growing over the forecast period. Several European countries have previously experienced nuclear catastrophes similar to the Fukushima Daiichi tragedy in Japan and the Chernobyl accident in the Ukraine. These events have increased public awareness of the risks associated with radiation exposure and the importance of having access to anti-radiation drugs.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The Asia-Pacific region is a global hub for medical tourism, and radiation-based medical procedures are often used in cancer diagnostic and treatment operations. Patients receiving radiation therapy, radiology, nuclear medicine, and cancer healthcare professionals all experience increased radiation exposure. Modern anti-radiation drugs made for use in medical settings are now more in demand as a result of this.
Furthermore, the rest of the world's anti-radiation drugs market is divided into the Middle East, Africa, and Latin America. The Latin America anti-radiation drugs market addresses radiation-related risks through pharmaceutical interventions. Growing awareness about nuclear incidents and medical radiation drives demand. Factors such as regulatory policies, healthcare infrastructure, and collaborations influence market growth. Accessing up-to-date market reports offers insights into trends, key players, and regional developments.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Anti-Radiation Drugs Market Research Report
Key Findings of the Study
- The global anti-radiation drugs market is expected to reach USD 8.62 Billion by 2032, at a CAGR of 10.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to Radiation-based medical procedures are frequently employed in diagnostic and cancer treatment procedures.
- Based on distribution channel, the hospital pharmacies segment was attributed to holding the largest market in 2022.
- Amgen Inc., Anbex Inc., Arco Pharmaceuticals LLC, BTG International Inc., Cellphire, Inc., Chrysalis BioTherapeutics, Inc., Darnitsa, Enzychem Lifesciences Corporation, Humanetics Corporation, Mission Pharmacal Company, Myelo Therapeutics GmbH, Partner Therapeutics, Pluri Inc. and others
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Companies Covered | 15 |
Pages | 130 |
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