The Global Anti Radiation Drugs Market Growth Accelerated By Expanding Applications Of Anti-Radiation Drugs

 

Anti-radiation drugs find wide applications in treating various health conditions caused due to radiation exposure. They protect cells and tissues from harmful effects of radiation during medical procedures such as radiation therapy. The growing cases of cancer and rising use of radiation therapy and nuclear imaging techniques are substantiating the demand for anti-radiation drugs.

The global Anti Radiation Drugs Market is estimated to be valued at US$ 587.4 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The expanding applications of anti-radiation drugs across various therapeutic areas has accelerated the growth of the anti-radiation drugs market over the forecast period. Earlier, anti-radiation drugs were mainly used to protect against effects of radiation exposure during radiation therapy for cancer treatment. However, with ongoing research and drug development, their applications have widened significantly. Now, these drugs also find increasing use in nuclear medicine imaging procedures and in non-oncology areas to treat conditions caused by radiation exposure. They help reduce mortality and morbidity associated with unintended or accidental radiation exposure during various diagnostic and therapeutic procedures. This growing coverage of therapeutic applications has boosted the demand and driven the market growth over the forecast period.
Segment Analysis
The global anti-radiation drugs market is segmented by types into neutralizers and biologic drugs. The neutralizers segment currently dominates the market due to its ability to rapidly reduce the effects of radiation exposure. This segment neutralizes free radicals by chelating metal ions such as iron or providing antioxidants that inhibit oxidation. These drugs are administered after radiation exposure and hence witness wider adoption.

Key Takeaways
The Global Anti Radiation Drugs Market Size is expected to witness high growth over the forecast period of 2023 to 2030. With growing awareness and rising threat of radiological events, demand for anti-radiation drugs is expected to increase significantly. The global Anti Radiation Drugs Market is estimated to be valued at US$ 587.4 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.

Regional analysis
North America currently dominates the anti-radiation drugs market owing to stringent guidelines regarding nuclear and radiological security. The region witnesses high spending on research to develop advanced countermeasures for radiation exposure. Asia Pacific is expected to be the fastest growing region due to rising nuclear energy production and increasing military spending of countries like India and China.

Key players
Key players operating in the anti-radiation drugs market are DIC Corporation, Dow Chemical Company, BASF SE, Arkema Group, Celanese Corporation, Trinseo, The Lubrizol Corporation, Wacker Chemie AG, Synthomer Plc, and Asahi Kasei Corporation. DIC Corporation and Dow Chemical Company have emerged as the largest players due to their extensive product portfolio and global distribution network.

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