Radioligand Therapy RLT Market

• Increasing incidences of cancer

Radioligand is the fastest-growing therapy commonly utilize for diagnosing and treating various types of cancers such as prostate cancer and breast cancer. Manufacturers are bringing innovation into the pipeline to target a larger range of cancers. As per the World Cancer Research Fund International, prostate cancer accounted for the second-highest ranking globally in 2020 with more than 1.4 million new cases. Cancer remains a global health concern, and the rising incidence of various types of cancer is driving the demand for effective treatment options.

Radioligand therapy offers a promising approach for targeted cancer treatment, particularly in cases where traditional therapies have limited efficacy.

Moreover, the growing number of product launches and pipeline products drives market growth. For instance, in March 2021, Novartis AG (Switzerland) enhanced its targeted radioligand therapy pipeline by obtaining an in-license to commercialize fibroblast activation protein (FAP), which includes FAPI-46 and FAPI-74, through SOFIE Biosciences, Inc. (US). Hence, the increasing prevalence of cancer and the high focus on bringing pipeline products into the market is driving the growth of the market.

Furthermore, nuclear medicine techniques, including radioligand therapy, have witnessed significant technological advancements in recent years. The development of novel radiopharmaceuticals and improved imaging and therapeutic modalities have expanded the potential applications of radioligand therapy, driving market growth.

The factors positively contributing to the market growth are increasing incidences of cancer and growing number of product launches and pipeline products.  

The rising incidence of cancer globally is a primary driver for the Global Radioligand Therapy (RLT) Market Industry. As cancer cases continue to escalate, the demand for innovative treatment modalities, such as RLT, is expected to grow. For instance, the World Health Organization indicates that cancer cases are projected to reach 29.5 million by 2040. This alarming trend necessitates the development of targeted therapies that can effectively address various cancer types. RLT, which utilizes radiolabeled ligands to selectively target cancer cells, offers a promising solution. Consequently, this increasing cancer prevalence is likely to propel the market, contributing to its projected growth from 8.41 USD Billion in 2024 to 21.9 USD Billion by 2035.

The increasing awareness and acceptance of radioligand therapy among healthcare professionals and patients are pivotal for the Global Radioligand Therapy (RLT) Market Industry. Educational initiatives and clinical trials have contributed to a better understanding of RLT's benefits, leading to its incorporation into treatment protocols. For instance, the successful outcomes of clinical studies have encouraged oncologists to consider RLT as a viable option for patients with advanced cancers. This growing acceptance is likely to enhance patient access to RLT, thereby expanding its market reach. As a result, the market is expected to witness substantial growth, aligning with the projected increase in market value from 8.41 USD Billion in 2024 to 21.9 USD Billion by 2035.

Regulatory support for radioligand therapy is a crucial factor driving the Global Radioligand Therapy (RLT) Market Industry. Regulatory bodies, such as the U.S. Food and Drug Administration and the European Medicines Agency, have been increasingly approving radioligand therapies for various cancer types. This trend indicates a growing recognition of RLT's therapeutic potential. For example, the approval of Lutathera for neuroendocrine tumors has paved the way for further developments in this field. Such regulatory endorsements not only validate the efficacy of RLT but also encourage pharmaceutical companies to invest in research and development. This supportive regulatory environment is likely to facilitate market expansion, contributing to the anticipated growth trajectory of the industry.

Technological innovations in radioligand therapy are significantly influencing the Global Radioligand Therapy (RLT) Market Industry. Advances in imaging techniques, radiochemistry, and ligand design enhance the efficacy and safety profiles of RLT. For example, the development of novel radioligands that can target specific tumor markers has improved treatment outcomes. Additionally, the integration of artificial intelligence in treatment planning and patient monitoring is expected to optimize therapeutic efficacy. As these technologies evolve, they are likely to attract investment and research, further driving market growth. The anticipated compound annual growth rate of 9.09% from 2025 to 2035 underscores the potential of these advancements in shaping the future of RLT.

The surge in investment in oncology research is significantly impacting the Global Radioligand Therapy (RLT) Market Industry. Governments and private entities are increasingly funding research initiatives aimed at developing novel cancer therapies, including RLT. For instance, the National Cancer Institute has allocated substantial resources to explore the potential of radioligand therapies in treating various malignancies. This influx of funding fosters innovation and accelerates the development of new radioligands, enhancing treatment options for patients. As research progresses, the market is poised for growth, with projections indicating a rise from 8.41 USD Billion in 2024 to 21.9 USD Billion by 2035.

By region, the study segments the market into North America, Europe, Asia-Pacific, and the rest of the world. In North America, the radioligand therapy market held the largest market share in 2022 due to the presence of major players in the US such as Lantheus Holdings, Inc. (US) and POINT Biopharma Global Inc. (US) and the huge number of clinical trials ongoing based on radioligand therapy. In addition, the rising incidences of cancer across the region also boost the market growth.

In September 2022, the Centres for Disease Control and Prevention announced that 264,000 women and 2,400 men are diagnosed with breast cancer in the US each year.

Further, the major countries studied are: The US, Canada, France, Germany, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

FIGURE 3: RADIOLIGAND THERAPY (RLT) MARKET, BY REGION, 2022 & 2030 (USD BILLION)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe radioligand therapy (RLT) market accounted for the second-largest market share due to the growing facilities and infrastructure in the hospitals & clinics for the adoption of radioligand therapies and Europe’s major countries' population contributions to the clinical trials of the radioligand. For instance, in January 2023, Novartis AG (Switzerland) chose Spain for the development of the radioligand Pluvicto, which has been approved by the European Commission. Furthermore, the Germany radioligand therapy (RLT) market held the largest market in 2022, and the UK radioligand therapy (RLT) market is projected to be the fastest-growing market in the Europe region.

The Asia-Pacific radioligand therapy (RLT) market is the fastest growing region from 2023 to 2030, owing to the growing incidence of cancer and the rising geriatric population in the region. Furthermore, the Union for International Cancer Control (UICC) found through research that people over 65 are 11 times more likely to develop cancer compared to younger people, which drives the growth of the region’s market because of the large number of geriatrics.

Moreover, the Japan radioligand therapy (RLT) market accounted for the largest market share in 2022, and the China radioligand therapy (RLT) market is projected to be the fastest-growing market in the Asia-Pacific region.

Major market players are investing heavily in R&D in order to expand their product lines, which will help the radioligand therapy (RLT) market grow even further. Market participants are also expanding their global footprint through a variety of strategic initiatives such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations.

Novartis AG (Switzerland) was established through a merger of Ciba-Geigy and Sandoz. Novartis AG and its preceding companies have developed innovative products for over 250 years. It has a strong presence in North America, Europe, Asia-Pacific, and the Middle East & Africa. Furthermore, in March 2022, the company received approval for Novartis Pluvicto from the US Food and Drug Administration. This radioligand therapy is utilized in the treatment of PSMA-positive metastatic castration-resistant prostate cancer. Furthermore, this launch is fulfilling customer demand as it is based on precision medicine and is assisting in generating revenue for the company's cancer product portfolio.