Pemetrexed Market: Rising demand for cancer treatment to drive the market
Pemetrexed Market: Introduction
- Pemetrexed, marketed under the brand, Alimta, by Eli Lilly and Company is used as a medication for the treatment of non-small cell lung cancer and mesothelioma. In 2004, the U.S. Food and Drug Administration granted approval to Eli Lilly and Company for pemetrexed for the treatment of malignant pleural mesothelioma. Subsequently, in 2008, the company received another approval from FDA for the treatment of advanced and metastatic non-small cell lung cancer.
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- Pemetrexed is chemically similar to folic acid functions by inhibiting three enzymes, namely thymidylate synthase (TS), dihydrofolate reductase (DHFR), and glycinamide ribonucleotide formyltransferase. These enzymes are primarily employed in purine and pyrimidine synthesis. Pemetrexed prevents the formation of DNA and RNA by inhibiting the formation of precursor purine and pyrimidine nucleotides. The inhibition of DNA and RNA slows down the growth of cancer cells. Pemetrexed is utilized in combination with certain drugs, as the first treatment for a certain type of non-small cell lung cancer (NSCLC) that has started to spread to nearby tissues or body parts.
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Key Drivers, Restraints, and Opportunities of Global Pemetrexed Market
- The market for pemetrexed is expanding at a robust pace owing to a surge in intake of chemotherapy drugs, rising demand for cancer treatment, and high prevalence of lung cancer. According to The American Cancer Society, about 235,760 new cases of lung cancer are estimated to be recorded in the U.S in 2021. Moreover, about 131,880 deaths from lung cancer are estimated in the U.S. Surge in the prevalence of lung cancer is estimated to boost the demand for pemetrexed as medication for the treatment of cancer.
- Several key players have also received regulatory approval for launching generic versions of pemetrexed. The approval of novel indications of pemetrexed is also anticipated to augment the adoption of the drug, which in turn is projected to drive the pemetrexed market.
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- A surge in R&D activities and the launching of new advanced therapy and products for lung cancer as well as the presence of promising government initiatives are also anticipated to create opportunities for the pemetrexed market during the forecast period. However, the high cost associated with development of chemotherapy drugs is expected to hinder the market.
- The COVID 19 virus spread to almost all countries worldwide. There was an imposition of a travel ban and shutdown of manufacturing units, offices & marketplaces by governments to address the COVID-19 outbreak. The impact of COVID-19 has also affected the pemetrexed market in 2020. The pandemic has impacted the global economy by directly affecting production and demand and by creating supply chain and market disruption.
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North America to Capture Major Share of Global Pemetrexed Market
- North America is expected to account for a major share of the global pemetrexed market owing to the presence of key market players and the rising prevalence of non-small cell lung cancer
- The pemetrexed market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to a surge in the demand for lung cancer treatment and rising R&D activities in the region
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Key Players Operating in Global Pemetrexed Market
The key market players have been focusing on increasing R&D activities and launching new products for specific applications.
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