WILMINGTON, DE / ACCESSWIRE / June 23, 2023 / The global radiation proctitis market is estimated to expand at a CAGR of ~7% during the forecast period from 2020 to 2030 and is expected to reach USD 748.5 Mn.
Increase in prevalence of prostate cancer, associated with genetic alterations and family history, boosts the demand for advanced therapies, which in turn, is driving the radiation proctitis market. Prostate cancer is the second-leading cancer diagnosed in men and fifth-leading cause of death globally.
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Increase in adoption of advanced technologies in the treatment of cancer is fueling the radiation proctitis market. Amid COVID-19, companies in the radiation proctitis market are maintaining continuous supply of intravenous vitamin drips, which helps boost the immunity of patients and helps in detoxification.
Growth Drivers
- Adoption of advanced therapies in the treatment of prostate cancer is fueling the radiation proctitis market
- Efforts of stakeholders to increase the availability of HBOT in the wake of COVID-19 is driving the market
Competitive Analysis
Competition in the radiation proctitis market is intense, with the presence of large number of global and regional players.
Prominent players in the radiation proctitis market include Allergan plc, Amneal Pharmaceuticals Inc., Pfizer Inc., Sanofi, Sun Pharmaceutical Industries Ltd., Sechrist Industries Inc., Teva Pharmaceutical Industries Ltd., Mylan Inc., Johnson & Johnson, and Environment Tectonics Corporation.
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Key Findings of Study
Increase in Adoption of Radiation Therapy to Fuel Market Development - According to published data, more than 14 million new cases of cancer are diagnosed each year globally. Radiation therapy is the most commonly used treatment for cancer in countries in the West. Radiation therapy has the potential to improve the magnitude of cure for 3.5 million people and to provide palliative care for an additional 3.5 million people.
Intense scientific studies have led to improved understanding of tumor biology at cellular, molecular, physiological, and immunological levels in the treatment of cancer, which in turn has improved the efficacy of radiation therapy. This is expected to spur market demand in the next few years.
Increase in Adoption of Antidiarrheal Therapies, Topical Corticosteroids Improve Patient Outcomes - Advances in radiation therapy are enabling improved delivery of radiation doses, and thus reduce the cases of acute and chronic proctitis.
Colostomy, Intraperitoneal Injections Fueling Market Size - Apart from oral therapies, healthcare providers are offering remedial laser techniques if rectal bleeding persists. Clinicians attempt administration of formaldehyde before surgical therapy. On the other hand, healthcare professionals are carrying out a transverse or descending colostomy for patients if surgery is required. This is leading companies to increase the availability of intraperitoneal injections of formalin.
For radiation proctitis, new methods of cold therapy and radiofrequency ablation are creating value grab opportunities. Colostomy is emerging as a safe and effective procedure to treat rectal ulcer associated with chronic radiation proctitis. Colostomy helps control rectal bleeding and helps relieve pain effectively in patients.
Alternative Trials Design Help Overcome Downside in HBOT - HBOT is emerging as the gold standard to treat radiation toxicity. Stakeholders in the radiation proctitis market are boosting efforts to increase the availability of HBOT, which is associated with strengthening the immune system to prevent contracting the coronavirus.
However, on the downside, HBOT is associated with side-effects such as fatigue, transient myopia, and barotrauma. Furthermore, patients with severe conditions refrain from participating and even leave randomized controlled trials. Therefore, companies in the radiation proctitis market are partnering with research institutes to develop alternative trial designs.
High cost of HBOT is another key factor that limits its adoption.
Nonetheless, the approval of U.S. FDA for HBOT is creating opportunities for companies in the radiation proctitis market.
Prostaglandins Aid in Healing of Wounds, Inflammation in Prostate Cancer Patients - High incidence of hemorrhagic radiation proctitis is positively influencing the growth of radiation proctitis market. However, the lack of agreement for the management of hemorrhagic radiation proctitis is anticipated to impede market growth.
Healthcare companies in the radiation proctitis market are engaging in R&D in prostaglandins that help in the healing of wounds and inflammation. Misoprostol is gaining traction, which is found to be effective in treating complications in patients associated with radiation therapy for prostate cancer.
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The global radiation proctitis market is segmented as follows;
Global Radiation Proctitis Market, by Indication
- Acute Radiation Proctitis
- Chronic Radiation Proctitis
Global Radiation Proctitis Market, by Therapy
- Oral Therapy
- Antidiarrheals
- Anti-inflammatory Agents
- Others
- Ablative Procedures
- Hyberbaric Oxygen Therapy
- Formalin
- Surgery
Global Radiation Proctitis Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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