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Anti-Radiation Drugs Market to expand at a CAGR of 10.20% by 2032 to value USD 8.62 billion | MRFR

Oct 11, 2023 1:00 PM ET

Anti-Radiation Drugs Market to expand at a CAGR of 10.20% by 2032 to value USD 8.62 billion | MRFR


Global Anti-Radiation Drugs Market Research Report: Information by compound (Potassium lodide (Kl), Prussian Blue, DTPA (Diethylenetriamine Pentaacetate) and Others), by application (Acute Radiation Syndrome (ARS), Cancer Treatment, Radiation Exposure and Others), by distribution Channel (Hospital Pharmacies, Retail Pharmacies and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

 The Anti-radiation drugs market industry is projected to grow from USD 3.96 Billion in 2023 to USD 8.62 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.20% during the forecast period (2023 – 2032).

The market for anti-radiation medications is driven by the high incidence of cancer and Acute Radiation Syndrome (ARS). In circumstances of radiation exposure, potassium iodide (KI), a radiation protection medication, offers some protection. The need for anti-radiation medications is anticipated to increase as concerns about using weapons of mass destruction in war grow. Radioactive iodine may be released after the detonation of a nuclear weapon. The growth of nuclear power, which has a significant impact on the market for anti-radiation pharmaceuticals, is a complex combination of factors that underscores the rising demand for protective measures during increased radiation exposure. As nations work on satisfying their energy needs while lowering carbon emissions, the building and maintenance of new nuclear power facilities is rising. Alongside this growth, it is anticipated that the workforce for various nuclear business occupations, including engineers, technicians, and maintenance workers, will also expand.

These specialists regularly operate with radioactive materials and radiation-emitting equipment, which exposes them to high radiation exposures. This increasing exposure has increased the need for anti-radiation drugs, which is necessary as a safeguard against potential health issues. Biotechnology companies are receiving government contracts to create medicines to cure ARS. Suppliers in the anti-radiation medicine market are making major investments to increase their production capacity. They are also introducing new goods to increase their market share for anti-radiation medications. The creation of radiopharmaceuticals, a novel class of medications that delivers radiation therapy selectively and directly to cancer cells, is the subject of numerous investigations. New radiopharmaceutical research and clinical trials have increased significantly during the past few years. Radiopharmaceuticals are being created and studied for several cancers, including colorectal cancer, melanoma, lung cancer, and leukemia.

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Market Segmentation

Hospital pharmacies, retail pharmacies, and others comprise the distribution channel-based segmentation of the anti-radiation drugs market. Based on the compound, the Anti-Radiation Drugs Market is segmented into DTPA (Diethylenetriamine Pentaacetate), Potassium Iodide (Kl), and others. Acute Radiation Syndrome (ARS), radiation exposure, and cancer treatment are included in the Anti-Radiation Drugs Market segmentation based on Application.

Market Competitive Landscape:

  • Enzychem Lifesciences Corporation
  • Humanetics Corporation
  • Mission Pharmacal Company
  • Myelo Therapeutics GmbH
  • Amgen Inc.
  • Anbex Inc.
  • Arco Pharmaceuticals LLC
  • BTG International Inc.
  • Cellphire, Inc.
  • Chrysalis BioTherapeutics, Inc.
  • Darnitsa
  • Partner Therapeutics
  • Pluri Inc.

Regional Insights

North America is expected to lead the global market during the forecast period. The expansion of radiation facilities and rising investment in the market for anti-radiation equipment are responsible for the region’s market growth. The U.S. government has greatly aided the development of pharmaceuticals and biologics as medical interventions for ars and prolonged effects of acute radiation exposure. 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 radiology, nuclear medicine, radiation therapy, and cancer healthcare professionals all experience increased radiation exposure. Modern anti-radiation drugs made for use in healthcare facilities are now more in demand due to this.

Browse In-depth Market Research Report (130 Pages) on Anti-Radiation Drugs:

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