The global gemcitabine HCl market analysis by Fact.MR, a market research and competitive intelligence provider, is intended at updating stakeholders about key trends shaping growth prospects.
North America’s Dominance in Gemcitabine HCl Market will Be Sealed by Higher Spending on Advanced Cancer Treatment: Fact.MR
The global gemcitabine HCl market analysis by Fact.MR, a market research and competitive intelligence provider, is intended at updating stakeholders about key trends shaping growth prospects. The report highlights hidden opportunities in the gemcitabine HCl in terms of product type and application, and end user
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a study by Fact.MR, the global gemcitabine HCl market is expected to exhibit impressive growth, expanding at a CARG of 6.7% over the forecast period 2021 to 2031. Owing to the surging incidence of cancer and increasing investment in the medical diagnostics, the market for gemcitabine HCl is likely to grow by 1.7X through 2031.
The primary factor driving the market is the rising prevalence of cancer. According to a report by the World Health Organization (WHO), nearly 18.1 million cases of cancer were reported in the year 2018, with number mortality reaching around 9.6 million across the globe. Cancer accounts for approximately 16% of deaths, globally.
Gemcitabine HCl is a key drug used in therapies and procedures administered for cancer treatment such as chemotherapy. Thus, with increasing prevalence of cancer such as ovarian cancer, breast cancer, and non-small cell lung cancer and surging demand for chemotherapy, the demand for gemcitabine HCl is estimated to skyrocket over the coming years.
North America is anticipated to remain a dominant region in the global market owing to the high prevalence of cancer. As per American Cancer Society, Inc., around 1.9 million new cases are expected to be diagnosed in the U.S. alone. This, coupled with increasing investment in healthcare, especially in the oncology research, is likely to account push growth in the region.
Fact MR has forecast North America to account for more than 40% of the market share by 2021.
“Leading manufactures in the industry are shifting their focus towards low- and middle-income economies (LME) to capitalize on consistently rising demand for chemotherapy treatment. They are expected to gain from increasing spending on expanding healthcare infrastructure in these countries,” says the Fact.MR analyst.
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Key Takeaways from Gemcitabine HCl Market Survey
- In North America, the U.S. is estimated to dominate the regional market owing to the increasing investment in the healthcare and medical diagnostics sector.
- The Asia Pacific market is likely to project growth at 1.6X through 2031, due to high prevalence of cancer such as ovarian and breast cancer in the region.
- Based on product type, generic gemcitabine HCl drugs are leading the segment, accounting for more than 70% of total market value.
- Pancreatic cancer applications are expected to capture a market value of over 2/5 by 2021 on the back of surging incidence of pancreatic cancer across the globe.
- Hospitals will remain the dominant end user, wherein gemcitabine HCl worth above half a billion dollars is expected to be utilized by 2031.
Key Drivers
- Rising prevalence of cancer such as pancreatic, ovarian, and breast cancers is spurring the demand for gemcitabine HCl.
- Increasing demand for cancer treatment such as chemotherapy is boosting the sales of gemcitabine HCl.
- Surging investment in the healthcare and medical diagnostics sector is expected to drive the market.
- Growing awareness regarding breast cancer and its diagnostics will create growth opportunities for the market.
Key Restraints
- Adverse effects associated with the use of gemcitabine HCl are hampering the market growth.
- Stringent regulatory framework for product approvals is a factor restraining the growth of the market.
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Competitive Landscape
Leading players in the gemcitabine HCl market are increasingly investing in the research & development (R&D) for reformulation and developing novel drugs. Besides this some on the players are focusing on various cancer treatment combination therapies and advancements in treatment delivery. For instance,
- Sun Pharma, a multinational pharmaceutical company based in Indian, announced launching the first ready-to-infuse chemotherapy product with premixed formulation, INFUGEM, a gemcitabine in sodium chloride injection.
- NuCana Biomed’s, a U.K based biopharmaceutical company, announced entering into the late-stage of clinical trials for its durg Acelarin (NUC-1031), a reformulation of gemcitabine engineered to overcome resistance mechanisms associated with the original drug.
Some of the prominent gemcitabine HCl manufacturers profiled by Fact.MR are:
- Eli Lilly and Company
- Teva Pharmaceutical Industries Ltd.
- Accord-UK Ltd.
- Pfizer, Inc.
- Mylan N.V.
- Sun Pharmaceutical Industries Ltd.
- Fresenius Kabi AG
- Dr. Reddy’s Laboratories Ltd.
- Ingenus Pharmaceuticals
- NuCana Biomed’s
More Valuable Insights on Gemcitabine HCl Market
Fact.MR, in its new report, offers an unbiased analysis of the global gemcitabine HCl market, analyzing forecast statistics through 2019 and beyond. The survey reveals growth projections on in the gemcitabine HCl market with detailed segmentation
Type
- Branded
- Generic
Application
- Pancreatic Cancer
- Breast Cancer
- Ovarian Cancer
- Non-small-cell lung carcinoma (NSCLC)
- Others
End Users
- Hospitals
- Cancer Centers
- Others
Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Key Questions Covered in the Gemcitabine HCl Market Report
- The report offers insight into gemcitabine HCl demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the gemcitabine HCl market between 2021 and 2031
- Gemcitabine HCl market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Gemcitabine HCl market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
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