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Global Leucovorin Calcium Market to Grow at a Robust CAGR During 2022-2031 on the Back of the Increasing Prevalence of Colon-Rectal Cancer, Growing Geriatric Population, and Improving Healthcare Sector

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New York, July 28, 2022 (GLOBE NEWSWIRE) — According to the World Health Organization, roughly 10 million deaths, or nearly one in six deaths, were caused by cancer in 2020, making it the top cause of death globally. Breast, lung, colon, rectum, and prostate cancers are the most prevalent types of cancer. In 2020, 1.93 million new cases of colon and rectum cancer were detected, and colon and rectum cancer were also responsible for 916,000 fatalities in the same year.

Research Nester has published a detailed market report on ‘Global Leucovorin Calcium Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.

For instance, around 42% of children under the age of five and 40% of pregnant women are anaemic worldwide. The global leucovorin calcium market is estimated to grow at a robust CAGR over the forecast period. One of the folic acid’s active metabolites is leucovorin calcium. Leucovorin calcium helps to provide a counterbalance impact on harmful drugs, safeguarding the patient and permitting the folate antagonist’s anticancer effectiveness. The rise in anemia cases, folate deficiency, and colon-rectal cancer incidence are estimated to drive the market expansion over the forecast period. In addition to this, the growing prevalence of low fiber high in fat and calories diet and the increasing obesity rate across the globe are estimated to drive the market growth throughout the forecast period. It was observed that overweight and obesity have been linked to about 11% of colorectal cancer (CRC) cases in Europe and according to epidemiological studies, men who are obese have a 30-70 percent higher risk of developing colon cancer.

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Furthermore, the increasing demand for new drugs and treatment methods to treat cancer, government initiatives to provide efficient healthcare to the people, increasing individual disposable income along with higher spending in the healthcare sector are estimated to drive the market growth over the forecast period. As per the WHO report, global health spending has increased overall during the previous 20 years, doubling in real terms, reaching USD 8.5 trillion in 2019 and 9.8% of GDP (up from 8.5% in 2000). Moreover, the increasing investment in research and development activities, boost in technological advancements, and rising awareness among people regarding cancer and its treatment are predicted to drive the market growth over the forecast period.

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On the basis of geographical analysis, the global leucovorin calcium market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of the rising prevalence of colorectal cancer along with the growing healthcare sector in the region. According to data, colorectal cancer accounted for 12.7% of all new cancer diagnosed and 12.4% of all cancer-related deaths in the European region in 2020. In addition to this, the global leucovorin calcium market in the region is projected to expand over the forecast period owing to enhancing cancer treatment procedures, supportive health care regulations, and availability of favorable reimbursement policies in developed nations of the region.

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Moreover, the market in the North America region is estimated to gain notable market growth over the forecast period owing to the increasing prevalence of colorectal and other cancers, backed by the high healthcare expenditure in the developed countries of the region. As per one of the estimations, in the United States, 1,752,735 new cases of cancer were reported in 2019, while 599,589 people passed away from the disease. In 2022, around 151,030 persons are anticipated to receive a colorectal cancer diagnosis, these figures include 44,850 new instances of rectal cancer and 106,180 new cases of colon cancer. Further, the growing obesity rate and rising cases of folate deficiency and anemia in the region are predicted to boost the market growth over the forecast period.

The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

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The global leucovorin calcium market is segmented by route of administration into oral, injectable, and others. Out of these, the injectable segment is estimated to hold a substantial market share over the forecast period owing to its bioavailability, high rate of direct absorption in the bloodstream, and quick relief provider agent. Moreover, the rising cases of colorectal cancer and serious blood cell disorders where patients demand quick relief are estimated to boost the segment growth over the forecast period. For instance, an estimated 1.24 million new cases of blood cancer are reported each year, or about 6% of all cancer cases. Each year, around 720,000 people worldwide lose their lives to blood cancer, which accounts for more than 7% of all cancer-related fatalities. Additionally, the recent development in injections making them economical, painless, and easily available is estimated to drive segment growth.

Further, the global leucovorin calcium market is segmented by end-user into hospital, retail pharmacies, specialty clinics, and others. Out of these, the hospital segment is estimated to hold a substantial market share over the forecast period on account of the increasing patient pool in the hospital, backed by the growing exposure to carcinogens. According to projections, the cost of cancer care in the US was projected to rise from USD 124.5 billion in 2010 to USD 157.8 billion in 2020. Additionally, the growing awareness among the people about cancer, growing medical advancements, and rising healthcare infrastructure are estimated to propel the segment growth during the forecast period.

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Some of the prominent key players and their company profiling mentioned in the global leucovorin calcium market research report includes Exelixis Inc., PromoCell GmbH, Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH, Bayer AG, Abbott Laboratories, Merck & Co., Inc., Mylan N.V., Novartis International AG, Pfizer Inc., and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market.

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