Wilmington, Delaware, United States, July 26, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The gemcitabine HCL market was valued at US$ 635.1 Mn in 2021 and is projected to exceed US$ 1.3 Bn by 2031.
Significant demand for anticancer drugs that can be administered orally or via intravenous infusion (to patients) is a key factor that has spurred the demand for gemcitabine HCL chemotherapeutic drugs. Increase in usage of gemcitabine hydrochloride alone or with other drugs (monotherapy and combination therapy) in a range of common cancers is anticipated to fuel market development.
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Significant adoption of Gemcitabine analogues in the treatment of various solid tumors is likely to accelerate market development. Researchers are conducting clinical trials to improve gemcitabine’s oral bioavailability. Significant usage of gemcitabine HCL in the treatment/management of lung cancer is anticipated to create significant opportunities for companies in the global gemcitabine HCL market.
Key Findings of Study
Rise in Demand for Gemcitabine HCL in Hospitals
Surge in demand for cancer therapies in hospital settings is anticipated to bolster the market. Based on end-user, the hospitals segment is projected to account for the leading market share during the forecast period. Governments of developing countries are focusing on improving the healthcare infrastructure, which, in turn, is bolstering the demand for advanced treatments in order to improve the survival rate of patients suffering from cancer. Advancement in injectable drugs is expected to fuel market development. Rise in awareness about need for early diagnosis of cancer, especially breast and ovarian cancer, is expected to boost the market. For instance, stakeholders in the healthcare industry are encouraging mammographic screening for women who are older than 40 years in order to ascertain the risk factors and drive early detection of breast cancer.
Clinical Trials on Reformulation Strategies for Improving Chemotherapy
Companies are focusing on enhancing the efficacy of chemotherapies for lung cancer, which is expected to offer lucrative opportunities to market players. Ongoing clinical trials are evaluating new formulations of gemcitabine with the aim of improving the morphology, entrapment efficiency, loading efficiency, and other physicochemical properties of the reconstituted gemcitabine HCL drugs. Rise in R&D in pulmonary drug delivery system is likely to result in high demand for anticancer drugs based on gemcitabine HCL for the treatment of lung cancer.
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Key Growth Drivers of Gemcitabine HCL Market
- High prevalence of breast cancer, ovarian cancer, cancers of the lung and intestine, and pancreatic cancer across the globe is a key driver of the gemcitabine HCL market.
- Growth in awareness about cancer diagnosis & screening and treatments such as chemotherapy and radiation therapy is anticipated to bolster the gemcitabine HCL market.
Regional Landscape
North America was the leading market, with a share of more than 30% in 2021. Increase in number of anticancer drugs approved by the U.S. FDA is projected to augment the market size in the region. Surge in research in pharmacokinetics and antitumor efficacy of new gemcitabine formulations is anticipated to pave the way to more effective chemotherapeutic drugs. Considerable demand for chemotherapy among cancer patients in the U.S. and Canada is anticipated to create significant opportunities for companies in North America.
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Presence of a large patient population and surge in demand for generic cancer drugs are likely to fuel the market. Rapidly aging population in the region is anticipated to propel market growth in the region.
Competition Landscape
The business landscape is fragmented, with the presence of several local, regional, and international players. Leading players are focusing on geographic expansion and expansion of distribution channels in order to consolidate their positions. Most key players are also adopting the strategy of mergers & acquisitions to increase market share.
Key players operating in the gemcitabine HCL market are
- Accord Healthcare
- Teva Pharmaceutical Industries Ltd.
- Dr, Reddy’s Laboratories Ltd.
- Mylan N.V.
- Pfizer, Inc.
- Sun Pharmaceutical Industries Ltd.
- Eli Lilly and Company
- Ingenus Pharmaceuticals, LLC
- ADC Therapeutics SA
- Hikma Pharmaceuticals plc
- Cornerstone Pharmaceuticals, Inc.
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Segmentation
The global gemcitabine HCL market is segmented based on
Type
Application
- Pancreatic Cancer
- Breast Cancer
- Ovarian Cancer
- Non-small Cell Lung Carcinoma (NSCLC)
- Others
End-user
- Hospitals
- Cancer Centers
- Others
Region
- North America
- Asia Pacific
- Middle East & Africa
- Europe
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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