Anti Radiation Drugs Market

The Burgeoning Anti Radiation Drugs Market Set to Surpass US$ 1 Bn by 2030

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Market Overview:

The Anti Radiation Drugs Market is estimated to be valued at US$ 587.4 million in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Anti-radiation drugs offer therapeutic protection from unwanted effects of ionizing radiation exposure and are used in cancer radiotherapy as well as during diagnostic radiology procedures and nuclear disasters.

Market Dynamics:

Rising incidence of cancer cases is expected to be a major driver for the anti radiation drugs market growth over the forecast period. According to the World Health Organization, cancer is the second leading cause of death globally and accounted for nearly 10 million deaths in 2020. Growing geriatric population also contributes to increasing prevalence of cancer as likelihood of developing cancer increases with age. Furthermore, liberalization of regulatory norms regarding use of anti radiation drugs post radiation exposure is also expected to support market growth during the forecast period. For instance, FDA approval of Anthropic’s drug RxBio in 2021 for prophylaxis against acute radiation syndrome is anticipated to boost consumption.
Here is the output with the requested sections for the given Anti Radiation Drugs market:

Market key trends:
The anti radiation drugs market has been witnessing high demand driven by the increasing incidence of cancer cases due to radiation exposure. Radiation therapy has been widely used in cancer treatment. However, prolonged exposure to radiation can lead to several health issues. Anti radiation drugs help in protecting healthy cells from radiation damage during cancer treatment and minimize side effects. The development of novel targeted anti-radiation therapeutics with improved efficacy and safety profile is expected to drive the growth of this market over the forecast period.

SWOT Analysis
Strength: Increased adoption of radiation therapy for cancer treatment is driving the demand for anti-radiation drugs to minimize side effects.
Weakness: High development cost and time involved in developing innovative anti-radiation drugs.
Opportunity: Growth opportunities in emerging markets and increasing healthcare expenditure in developing nations.
Threats: Stringent regulatory approval process and high competition from alternative treatment options.

Key Takeaways
The global Anti Radiation Drugs Market Share is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period of 2023 to 2030, due to increasing incidence of cancer cases worldwide.
Regional analysis:
The US dominated the anti radiation drugs market owing to high adoption of radiation therapy for cancer treatment. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing healthcare infrastructure, rising medical tourism and growing cancer cases in the region.
Key players:
Key players operating in the anti radiation drugs market are RxBio Inc., Annova Chem Inc., Medicom Healthcare Ltd., Onconova Therapeutics, Genome Protection Inc., Grace Therapeutics LLC, Amgen Inc., Partner Therapeutics Inc., Jubilant Life Sciences Ltd., Cipla Inc., Stium Inc., Soligenix Inc., Aeolus Pharmaceuticals, PharmaIN Corp, Immune Modulators Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it