According to the Market Statsville Group (MSG), the Global Sodium Iodine (I-131) Drugs Market size is expected to grow at a CAGR of 12.7% from 2023 to 2033.
With its ability to emit beta particles and gamma rays, iodine-131 is a radioactive isotope of iodine that finds application in targeted radiation therapy for the treatment of thyroid tissue. Treatment of thyroid-related issues, including cancer and hyperthyroidism, heavily relies on sodium iodine (I-131) medication. Sodium iodine (I-131) drugs are administered orally or intravenously as their natural affinity for iodine, thyroid cells, including cancerous ones, selectively absorb radioiodine. The radiation emitted damages the DNA within these cells, resulting in cell death and tumor shrinkage. As this method minimizes damage to surrounding healthy tissues, it is an effective and quite secure treatment option for certain thyroid cancers.
A surge in thyroid cancer cases has led to a corresponding spike in the need for treatment drugs. More cases of thyroid cancer are being diagnosed as early detection and advancements in medical imaging technologies improve, creating a greater need for effective treatments such as sodium iodine (I-131) drugs. Further, the rising prevalence of hyperthyroidism, a condition characterized by an overactive thyroid gland, has increased demand for these medications. As Graves' disease is the most common cause of hyperthyroidism and often necessitates radioiodine ablation for long-term control, thus driving the demand for sodium iodine (I-131) drugs market.
Based on type, the market is divided into sodium iodine [I-131] capsules, sodium iodine [I-131] oral solution. The sodium iodine [I-131] capsules segment accounted for the largest market share in 2023. Capsules provide a convenient and user-friendly method of drug administration. Capsules are easier to handle than other administration forms, such as injections or intravenous infusions, and can be self-administered by patients in an outpatient setting. Due to their ease of use, capsules have become a preferred choice for patients and healthcare providers, resulting in widespread adoption. Further, when compared to liquid formulations, the stability and shelf life of sodium iodine (I-131) drugs in capsule form are usually higher. This increased stability ensures that the radioiodine remains active and effective for an extended period of time, resulting in consistent and consistent therapeutic outcomes.
Based on the regions, the global sodium iodine (I-131) drugs market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America accounted for the largest market share in 2023. The well-established healthcare infrastructure in North America, as well as access to advanced medical technologies, have contributed to the increasing popularity of sodium iodine (I-131) drugs. The region has a comprehensive network of specialized medical centres, clinics, and well-trained healthcare professionals, making radioiodine therapy more widely available. Also, the pharmaceutical industry's emphasis on research and development in North America has resulted in the continuous improvement and introduction of novel sodium iodine (I-131) drug formulations.
The Major key players in the global sodium iodine (I-131) drugs market are:
This market research study categorizes the sodium iodine (I-131) drugs market-based on type, and application area at the regional and global levels.
Frequently Asked Questions
The global sodium iodine (I-131) drugs market has a potential to grow at a CAGR of 12.7% from 2023 to 2033.
The main players involve in the market are Mallinckrodt, AnazaoHealth, International Isotopes, Bracco, Jubilant Radiopharma, Hta Co., Ltd, Yantai Dongcheng Biochemicals Co., Ltd., Chengdu Gaotong Isotope Co., Ltd., BWXT Medical Ltd, PDRadiopharma Inc., IZOTOP, among others.
The sodium iodine (I-131) drugs market presents opportunities for effective treatment of thyroid disorders and cancer, but it also carries risks related to radiation exposure and regulatory compliance.
Key trends in the sodium iodine (I-131) drugs market include advancements in targeted radiotherapy techniques, improved dosimetry for precision treatments, and innovations in radiopharmaceutical production processes.
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