The impact of COVID-19 on Radioimmunotherapy (RIT) Market Growth Sales and Opportunity, Concludes Fact.MR

CITY, Country, 2021-Feb-23 — /EPR Network/ —

Radioimmunotherapy (RIT) is the combination of radiation therapy and immunotherapy mainly used to treat non-Hodgkin lymphoma for the newly diagnosed patients, and the various types of cancers in the patients who failed to response the chemotherapy treatment.

For instance,according to National Cancer Institute estimation about 1.81 million cancer cases were found worldwide in 2018. Moreover, in 2020, about 1,806,590 active cases are present in U.S.

Globally, the COVID-19 pandemic outbreak has impacted the global economy in several ways such as limited surgical centers, insufficiency of labor force, short fall of medical supplies due to disruption in the supply chain and high demand for the COVID treatment has projected short-term negative impact on the global radioimmunotherapy (RIT) market.

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Mass technological transformation of the global healthcare industry has left key market participants struggling to traverse the complexities of medical and life sciences. Given the shifting dynamics of the global healthcare sector, pharma and biotech companies are taking measured efforts to improve patient outcomes in an effective manner, while keeping a careful watch on the bottom line.

Much is being said about Artificial Intelligence taking over manual back office and supply chain operations in the healthcare ecosystem, threatening to replace physicians from critical claims processing roles. This might put pressure on pharmaceutical companies to ensure readiness to the new technology.

Big data and analytics will drive patient outcomes in a big way, and the coming years will witness a growing emphasis on healthcare service providers in the business of gathering and processing patient health data.

Creating outcome-oriented financial models to maximize reimbursements in value-based healthcare will be a strategic shift from the traditional fees-for-services model. This implies that pharmaceutical companies will need to devise appropriate measures to optimize costs and improve the quality of patient care.

Radioimmunotherapy (RIT) Market: Drivers and Restraints

Increasing adoption of targeted therapies, rise in adverse complications with the radiation therapy are the few propellants of radioimmunotherapy (RIT) market. Emerging clinical pipeline of radioimmunotherapy and focus towards the innovative treatment techniques for enhancing the patient outcomes expected to drive the global market radioimmunotherapy (RIT) during the forecast period.

Rise in incidence of cancer cases, increased preference to the intense research and development of the cancer therapeutics are expected to drive the global radioimmunotherapy (RIT) market growth. The ambiguities of lack of evidence based prognostic factors during the treatment and the  high charge for therapy are the factors that expected to restrain the radioimmunotherapy (RIT) market growth during the forecast period.

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Radioimmunotherapy (RIT) Market: Segmentation

Based on the drug type, the radioimmunotherapy (RIT) market is segmented as:

  • Ibritumomab
  • Rituximab
  • Epratuzumab
  • Tositumumab
  • Lintuzumab
  • Labetuzumab
  • Trastuzumab

Based on the application, the radioimmunotherapy (RIT) market is segmented as:

  • Non Hodgkin Lymphoma (NHL)
  • Follicular Lymphoma
  • Breast Cancer
  • Ovarian Cancer
  • Osteosarcoma
  • Melanoma
  • Leukemia
  • Others

Based on the end user, the radioimmunotherapy (RIT) market is segmented as:

  • Hospitals
  • Ambulatory surgical centers
  • Cancer research institute

Based on region, the Radioimmunotherapy (RIT) market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle-East & Africa (MEA)

Radioimmunotherapy (RIT) Market: Overview

The global radioimmunotherapy (RIT) market manifests a considerable growth during the forecast period owing to rising incidence of the cancer among the population. Based on the drug type, the Ibritumomab hold the largest market share. Ibritumab, a murine-dervied antibody with short half-life owing to the major advantage of reducing bone marrow toxicity of the attached isotopes was the main reason in rising preference for the Ibritumab drug over the others.

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On the basis of application, Non Hodgkin Lymphoma hold the largest market share due to rise in research and development to treat the disease. Based on the application, leukemia is the dominating segment. Leukemia is radiosensitive, and thus, more likely to response to the radioimmunotherapy. Hospitals governs the end user segment owing the availability of better facilities, along with health care professional expected to contribute the growth of the radioimmunotherapy market.

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