Cancer has become a leading cause of death across the world. According to the World Health Organization (WHO), about 23.6 million new cases of cancer will prevail globally by 2030. It is also estimated that by 2030, approximately 11.5 million deaths will be caused by cancer. The most common types of cancers are lung cancer, breast cancer, stomach cancer, and liver cancer.
As of now, the cancer therapies available are surgery, chemotherapy, radiation therapy, hormone therapy, targeted therapy, stem cell transplantation, precision medicine, and immunotherapy. Of these, immunotherapy is considered the most promising therapy, which involves the use of body’s own immune system to treat cancer.
Monoclonal antibodies, immune checkpoint inhibitors, drugs that recognize and attack cancer cells, and cancer vaccines are some of the widely used immunotherapies. Radioimmunotherapy refers to the combination of radiation therapy and immunotherapy. In radioimmunotherapy, a monoclonal antibody is paired with a radioactive material known as radiotracer. Once injected, the radio labeled antibody binds to the specific cancer cell and then destroys it with radioactivity.
Radioimmunotherapy is also used to treat conditions like Non-Hodgkin B-cell lymphoma and other sub-types of lymphoma that do not respond to chemotherapy. The combination of radiation therapy and immunotherapy has shown impressive results in treating cancers like Non-Hodgkin lymphoma, which was earlier considered non-treatable cancer.
The increasing incidence of cancer across the world and the efficacy of radioimmunotherapy in treating different types of cancer are driving the global radioimmunotherapy market. Further, increasing funding for cancer research by governments, availability of new cancer treatment, and an increase in Medicare coverage will boost the growth of the global Radioimmunotherapy market.
However, global Covid-19 pandemic may have some impacts on the radioimmunotherapy market. The healthcare sector is currently going through a crisis due to the coronavirus pandemic. This can adversely affect funding for various research projects including cancer research, which in turn, can have a significant impact on the global radioimmunotherapy market.
The impressive results are shown by cancer radioimmunotherapy in both past and current research have helped the global radioimmunotherapy market to grow significantly over the years. North America, Asia Pacific, and South America are going to provide ample growth opportunities for the global radioimmunotherapy market in the coming days.
The top key players operating in the global Radioimmunotherapy market include Bayer Healthcare Pharmaceuticals, GlaxoSmithKline plc, Biosynthema, Curasight, Clarity Pharmaceuticals, Immunomedics, Molecular Insight Pharmaceuticals, Endocyte, Nordic Nanovector, Philogen, PDL Biopharma, Stella Pharma, Telix Pharmaceuticals, Panacea Pharmaceuticals, Inc., Actinium Pharmaceuticals, Inc., and Spectrum Pharmaceuticals, Inc.