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| anti-radiation drugs market |
The anti-radiation drugs market is primarily driven by the increasing use of
medical radiation devices such as CT scans, X-Rays, and radiation therapy in
disease diagnosis and treatment. Anti-radiation drugs help protect healthy
cells from the harmful effects of radiation exposure during diagnostic imaging
tests or cancer therapy.
The global anti-radiation drugs market is estimated to
be valued at US$ 676.69 Bn in 2024 and is expected to exhibit a CAGR of 26.% over the forecast period
of 2024 to 2030.
Key Takeaways
Key players operating in the anti-radiation drugs market comprises Google LLC.
(the U.S.), Microsoft Corporation (U.S.), DAQRI (U.S.), Mindmaze (Switzerland),
Wikitude GmbH (Austria), Medical Realities (U.K.), Atheer (U.S.), Augmedix
(U.S.), Oculus V.R. (U.S.), CAE Healthcare (U.S.), and Others. These players
are focusing on developing advanced anti-radiation drugs through extensive
research and development.
The Anti-Radiation
Drugs Market Size offers significant growth opportunities owing to the
expanding applications of medical radiations in disease treatment and rising
incidence of cancer. Market players are investing in new product launches to
cater to the growing need for effective anti-radiation drugs with fewer side
effects.
The increasing acceptance of anti-radiation drugs across major markets
worldwide is encouraging market leaders to strengthen their global presence
through collaborations and partnerships with local players. Market players seek
opportunities in emerging economies in Asia Pacific and Latin America
experiencing rapid economic growth and development.
Market Drivers and Restraints
The increasing incidence of cancer worldwide is a major factor driving the
growth of the anti-radiation drugs market. According to the World Health
Organization (WHO), cancer is the second leading cause of death globally and
was responsible for nearly 10 million deaths in 2020. Extensive use of
radiotherapy in cancer treatment augments the need for anti-radiation drugs to
minimize adverse effects.
Stringent regulatory framework delaying the approval of new anti-radiation
drugs may hamper market growth. Further, high development costs and longer
timelines associated with drug development pose challenges. However, ongoing
clinical trials evaluating newer anti-radiation drugs with improved safety
profiles will continue to create lucrative opportunities.
Segment Analysis
The Anti-Radiation Drugs Market is
segmented by drug class, therapeutic application, end use and distribution
channel. By drug class, the aphylloedic segment dominates as it helps protect
DNA and chromosomal damage from radiation exposure. By therapeutic application,
the medical oncology segment dominates owing to extensive usage of radiation
therapy in cancer treatment which leads to increased risk of side effects like
fatigue, skin irritation and others which are treated using anti radiation
drugs.
Global Analysis
North America dominates the regional anti-radiation drugs market due to the
high adoption of radiation therapy for cancer treatment in the region. The
market in Asia Pacific is expected to grow at the fastest pace during the
forecast period due to improving healthcare infrastructure and growing cases of
cancer in countries like China and India. The growth is also attributed to
initiatives taken by regional governments to spread awareness among people
about ill effects of radiation exposure and availability of effective treatment
options.
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