Segments - Global Radiation Injury Drugs Market by Exposure (Internal Exposure and External Exposure), Source (Background Radiation and Man-Made Radiation), Diagnosis (Lymphocytes Count, Geiger-Muller Counter, and Blood Test And Dosimeter), Treatment (Treatment For Radiation Sickness, Treatment For Internal Contamination, and Others), Route Of Administration (Oral and Parenteral), Application (Ambulatory Surgery Centers (ASCs), Hospitals, Research Institutes, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global radiation injury drugs Market was valued at USD 565.6 million in 2020 and is projected to reach USD 747.9 million by 2028, expanding at a CAGR of 3.7% during the forecast period. Radiation injury is responsible for causing damage to tissues, due to the exposure of ionizing radiation. High dose of ionizing radiation causes acute illness through the reduction in the production of blood cells and damages the digestive tract. Sources of ionizing radiation are natural such as radioactive substances or man-made such as X-ray machines, particle accelerators, nuclear reactors, and nuclear weapons. Tissue damage by radiation therapy leads to skin necrosis, dermatitis, and ulcer. Above 70% of patients experience radiodermatitis, which ranges from dry desquamation, faint erythema, moist desquamation, and necrosis, during the course of radiotherapy.
Systemic radiation therapy uses radioactive drugs known as radionuclides or radiopharmaceuticals for the treatment of certain types of cancer such as thyroid, bone, and prostate cancer. These drugs are made up of a radioactive substance. They are mainly given by mouth or put into a vein, and then travel throughout the body. Radiation injury drugs are used in the detection of cancer, during bone metastasis when cancer spreads to the bone. These drugs are used to diagnose other non-cancer health problems.
Rising prevalence of cancer patients globally, as well as their preference for radiation therapy, are driving the radiation injury drugs market. According to the International Agency for Research on Cancer, 19.3 million cancer cases and 10 million cancer deaths are expected to occur globally in 2020.
Expansion of the radiation injury medicine market is anticipated to be fueled by an increase in cancer patients. Increased reimbursement policies for radiation therapy and associated treatment for side effects are expected to fuel the radiation injury drugs market.
The day-to-day components of the RO-APM are controlled by a mix of clinicians, the nursing team, radiation therapists, as well as billing and administration employees at the clinical sharp-end. Participating care providers will get all-inclusive reimbursement (rather than fee-for-service), indicating that workflow efficiency will become a defining credo – and the only way for clinics to succeed financially in the long run.
According to the World Cancer Report, cancer has a high incidence rate over the world, with an estimated 20 million cases by 2030. (WHO, 2008). Every year in India, approximately 0.95 million new cancer cases are discovered, with 0.63 million deaths. Breast cancer is frequent among women, and it is the second highest cause of mortality in women. Despite the fact that the prevalence of breast cancer in developing nations is relatively low, industrialized countries diagnose nearly half of all instances of breast cancer.
According to a study conducted between 1975 and 1990, Asia and Africa registered a faster increase in the annual incidence rate of breast cancer than North America and Europe. Increasing number of awareness campaigns about the benefits of radiotherapy and technological developments in radiotherapy devices led to rising use of radiotherapy devices and treatments. The ESTRO Cancer Foundation and ESTRO launched the Marie Curie Legacy Campaign, a global movement, to raise awareness about the benefits of radiotherapy and improve radiotherapy delivery throughout Europe and beyond.
During the projected period, development prospects in emerging markets and rising demand for cancer treatment are expected to present multiple opportunities for market expansion. Radiotherapy, known as radiation therapy, is a treatment for cancer patients that involves eliminating cancer cells and shrinking tumors. Radiation such as X-rays, gamma rays, and charged particles are often employed in radiotherapy.
According to the National Cancer Institute, nearly half of all cancer patients receive radiation therapy as part of their treatment. In the future years, emerging economies such as India, China, Brazil, and Russia are expected to demonstrate tremendous development potential.
India and China are home to more than half of the world's population, and these markets have a huge number of end users in the radiation injury drugs market. This is fuelled by the rising cancer rates in these countries. During the projected period, development prospects in emerging markets and increasing demand for cancer treatment are expected to present several opportunities for market expansion.
On the basis of exposure, the radiation injury drugs market is segregated into internal exposure and external exposure. The external exposure segment is projected to hold a significant market share during the forecast period.
On the basis of route of administration, the radiation injury drugs market is segmented into oral and parenteral. The parenteral segment is expected to account for a significant share of the market in the projected timeline.
On the basis of diagnosis, the radiation injury drugs market is divided into lymphocytes count, Geiger-Muller counter, and blood test, and dosimeter. The blood test and dosimeter segment is estimated to constitute a significant share of the market during the forecast period.
On the basis of applications, the radiation injury drugs market is categorized as ambulatory surgery centers (ASCs), hospitals, research institutes, and others (long-term care centers). High purchasing power of hospitals to buy advanced radiation drugs connectivity solutions, decreasing hospital margins, and growing focus on providing high-quality patient care and safety are key factors that are estimated to drive the hospitals segment growth.
Based on regions, the global radiation injury drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to grow at a rapid pace than the market in the rest of the world, owing to the rising number of cancer patients.
As a result, demand for radiotherapy increased in the region, along with healthcare spending. Europe accounts for a significant share of the market, due to growing treatment of radiation injury. For example, cutaneous radiation injury therapy is common in Europe.
Asia Pacific constitutes a significant market share, particularly China, due to growing number of patients and low treatment cost. South Africa is projected to dominate the MEA radiation injury drugs market with a considerable share. The market is growing, due to the frequency of cancer, high mortality rate, and favorable government regulations. Growing geriatric population is driving the Radiation Injury Drugs Market in Latin America. Globally, the geriatric population is rapidly increasing, contributing to an increase in chronic diseases.
Major Manufactures include Eli Lilly and Company, Teva Pharmaceutical, Amgen Inc, La Jolla Pharmaceutical Co, Novartis, Johnson & Johnson, Heyl Chemisch-pharmazeutische Fabrik.
The base year considered for the global radiation injury drugs market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 & 2019 are the historic years, and the forecast is provided from 2021 to 2028.
The market is expected to witness sluggish growth with slow increase in terms of demand during 2019-2020 owing to the negative impact of COVID-19 pandemic on the global radiation injury drugs market.
Ambulatory Surgery Centers (ASCs), Hospitals, Research Institutes, and Long-Term Care Centers are expected to expand at a substantial rate during the forecast period in globe.
Rising prevalence of cancer patients globally, as well as their preference for radiation therapy, are driving the radiation injury drugs market. Investments in R&D sector of radiation injury drugs are increasing globally, which is also estimated to drive the market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2020), other data such Macro-economic factors, COVID-19 Impact on the global radiation injury drugs market is available in final report.
According to this Growth Market Reports, the market from global radiation injury drugs market is likely to register a CAGR of 3.7% during period 2021-2028, with an anticipated valuation of USD 747.9 million by the end of the 2028.
Additional company profiles can be provided on request.