February 16, 2025
Anti Radiation Drugs Market

Anti Radiation Drugs Market Is Estimated To Witness High Growth Due To Increased Demand

The global 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.

Market Overview:
Anti Radiation Drugs are pharmaceutical products used for prevention and treatment of acute and late effects of radiation exposure. Radiation exposure can occur through variety of sources including medical imaging devices, nuclear weapons, Chernobyl disaster or Fukushima Daiichi nuclear disaster. Anti radiation drugs act as radioprotectants that protect cells, tissues and DNA from radiation damage. Development of anti-radiation drugs is crucial for present healthcare and defense purposes as ionizing radiation is widely used in medical diagnostics and treatment with continued threat of nuclear warfare.

Market key trends:
One of the key market trends is recent successful research and development activities focused on advancing pipeline of novel anti-radiation drug candidates. For instance, in 2022, RxBio Inc announced positive preclinical trial results of its lead candidate RxB-100 showing significant protection against acute radiation syndrome. Furthermore, in 2021 Genome Protection Inc completed Phase I study of its radioprotectant GPI-010, demonstrating good tolerability and pharmacokinetics. Ongoing R&D by companies is expected to lead to launch of new anti-radiation drugs over forecast period to cater growing needs of radiation protection.
Porter’s Analysis

Threat of new entrants: The threat of new entrants in the anti radiation drugs market is moderate due to the high capital requirements and stringent regulations for launching new anti radiation drugs.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of several established players offering anti radiation drugs for the treatment of various conditions.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers present for active pharmaceutical ingredients and contract manufacturing organizations involved in manufacturing anti radiation drugs.

Threat of new substitutes: The threat of new substitutes is low as there are limited substitute treatment options for conditions requiring anti radiation drugs.

Competitive rivalry: High due to the presence of major global and local players offering similar anti radiation drugs.

Key Takeaways

The global Anti Radiation Drugs Market Share is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing prevalence of cancer requiring radiation therapy.

North America is expected to dominate the anti radiation drugs market over the forecast period owing to increasing incidence of cancer, growing demand for radiation therapy, and presence of major market players in the region. The Asia Pacific anti radiation drugs market is anticipated to exhibit the fastest growth rate during the forecast period driven by rising healthcare spending, growing cancer population, and increasing awareness about radiation therapy.

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, and Immune Modulators Inc. Amgen Inc. is one of the leading players offering anti radiation drug Neupogen for reducing infections in patients undergoing chemotherapy.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. 

Ravina Pandya

Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. 

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