Albany NY, United States: Transparency Market Research has published a new report on the global gemcitabine HCl market for the forecast period of 2019 to 2027.
Albany NY, United States: Transparency Market Research (TMR) has published a new report on the global gemcitabine HCl market for the forecast period of 2019 to 2027. According to the report, the global gemcitabine HCl market is projected to reach a value of over US$ 900 Mn by 2027, expanding at a CAGR of nearly 7% from 2019 to 2027. Initiatives by key players, and the growing number of patient support organizations and governmental & healthcare agencies to spread awareness regarding cancer is projected to drive the global gemcitabine HCl market. Technical advancements in the manufacturing of generic drugs have also led to an increase in the demand for gemcitabine HCl, which is expected to propel the global gemcitabine HCl market in the near future.
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Gemcitabine HCl Market: Overview
- The gemcitabine HCl market report offers exhaustive segmentation of the global market based on type, application, and end user. In terms of type, the gemcitabine HCl market has been segmented into branded and generic. The generic segment held a major share in the gemcitabine HCl market in 2018. Low cost, similar efficacy, and increase in the demand for generic drugs are the factors driving this segment in the global gemcitabine HCl market.
- Based on application, the global gemcitabine HCl market has been classified into pancreatic cancer, breast cancer, ovarian cancer, non-small-cell lung carcinoma (NSCLC), and others. The pancreatic cancer segment held a leading market share in 2018, owing to increased incidences of this disease. Pancreatic cancer usually affects the geriatric population. Increase in the geriatric population is one of the factors fueling the growth of this segment in the global gemcitabine HCl market.
- In terms of end user, the global gemcitabine HCl market has been divided into hospitals, cancer centers, and others. The hospitals segment is anticipated to grow at a rapid pace in the next few years. The adoption of healthcare information systems in hospitals is rising in Asia Pacific due to an increase in the number of private sector hospitals in the region. This, in turn, is likely propel the gemcitabine HCl market in the next few years.
- Geographically, the global gemcitabine HCl market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, North America and Asia Pacific gemcitabine HCl markets are anticipated to drive global demand. The gemcitabine HCl market in North America is expected to expand at a high CAGR from 2019 to 2027. This is attributed to the adoption of cost-effective genetic drugs, expiry of patented products, proper guidelines for the manufactures of biosimilars, and the presence of a large number of players in the generics market in the region.
- The demand for cost-effective generic cancer drugs is rising, especially in emerging countries such as China, India, and Brazil. This is due to the increase in the incidences of cancer and a surge in the acceptance of generic drugs in the global gemcitabine HCl market.
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Generic Segment Expected to Grow at a Rapid Pace in the Gemcitabine HCl Market
- The report offers exhaustive segmentation of the global gemcitabine HCl market based on type, application, and end user. In terms of type, the gemcitabine HCl market has been segmented into generic and branded.
- The generic segment held a major share in the gemcitabine HCl market in 2018. This segment is likely to grow at a rapid pace in the next few years, attributed to the strong pipeline of generic gemcitabine HCl drugs. In order to market a generic drug, a company needs to file an Abbreviated New Drug Application (ANDA). An ANDA approval implies that the generic drug is comparable to the original drug in terms of strength, dosage form and quality, route of administration, performance, characteristics, and intended use.
- However, companies cannot manufacture a generic unless the patent of a drug expires. After the patent loss of Gemzar in 2010, several generics have entered the gemcitabine HCl market. The demand for low-cost substitutes of gemcitabine HCl is high in low- and middle-income countries in the Asia Pacific, Africa, and Latin America gemcitabine HCl markets.
- This has increased the number of gemcitabine API manufacturers, since pharmaceutical drug manufacturers do not have enough in-house capacity to meet the demand.
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Pancreatic Cancer & Hospitals Segments to Capture Prominent Market Shares
- The pancreatic cancer segment held a major market share in 2018, owing to the rise in incidences of pancreatic cancer. According to WHO, there will be nearly 638,647 new cases of pancreatic cancer in 2030, as against 458,918 in 2018.
- This increase in the number of cases is primarily due to the increasing geriatric population, and the associated risk factors becoming increasingly common among the population. This is expected to drive the global gemcitabine HCl market in the new few years.
- The hospitals segment is expected to grow at a rapid pace in the next few years. Hospitals provide low-cost treatment to all citizens across the globe.
- Strategic collaborations with hospitals for cancer research studies on several hundred patients with a variety of cancer types have helped companies come up with novel drugs and therapeutic treatments.
- The hospital infrastructure in emerging countries is developing at a significant pace, as various regional and national governments (for example Saudi Arabia) are encouraging private players to enter the healthcare services sector.
Asia Pacific Gemcitabine HCl Market Expected to Expand at a High CAGR
- North America is likely to be a prominent region in the global gemcitabine HCl market during the forecast period. Easy adoption of new products, presence of key players, and favorable reimbursement policies are attributed to the region’s dominance in the global gemcitabine HCl market. The gemcitabine HCl markets in Europe and Asia Pacific are also projected to grow at a rapid pace from 2019 to 2027.
- The gemcitabine HCl market in these regions are anticipated to be driven by the rise in the demand for cost-effective generic cancer drugs, especially in emerging countries such as China, India, and Brazil, due to an increase in the incidences of cancer and a surge in the acceptance of generic drugs. Additionally, India- and China-based drug manufacturers have a strong presence in the global gemcitabine HCl market. Gemcitabine API manufacturers in India have been investing to comply with U.S. FDA regulations and to win contracts from U.S.-based companies, and have been filing DMF applications. This is expected to boost the global gemcitabine HCl market in the coming years.
- Additionally, initiatives by key players, patient support organizations, and governmental & healthcare agencies to spread awareness about cancer are expected to boost the growth of the gemcitabine HCl market in these regions. Technical advancements in the manufacture of generic drugs have also led to an increase in the demand for gemcitabine HCl, which is expected to propel the global gemcitabine HCl market in the near future.
Gemcitabine HCl Market: Competitive Landscape:
- Major players operating in the global gemcitabine HCl market include Teva Pharmaceutical Industries Ltd., Lupin Ltd., Sanofi, Biocon. Dr. Reddy’s Laboratories, Sun Pharmaceutical Industries Ltd., Mylan N.V., GlaxoSmithKline plc, and AstraZeneca plc.
- Launch of new products, focus on development of technologically-advanced products by companies, and product approvals are expected to drive the global gemcitabine HCl market during the forecast period.
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