The gemcitabine HCI market is expected to grow at a 7% CAGR over the next ten years, according to a Fact.MR report. The global market is predicted to reach US$ 1.43 billion by the end of 2033, having reached a value of US$ 727.5 million in 2023.
The use of gemcitabine HCI is anticipated to rise over the next 10 years, mostly as a result of the global increase in cancer diagnoses. The increased use of alcohol and tobacco, poor lifestyle choices, inactivity, and poor eating habits are some of the primary factors contributing to the rising prevalence of cancer in the world.
Rising public awareness of cancer symptoms and increased demand for cutting-edge cancer therapies are expected to boost market sales in the future.
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Which Region's Demand for Gemcitabine HCl Is Expected to Grow?
North America now has a sizable portion of the demand for gemcitabine HCl, and this dominance is expected to last for the duration of the forecast period. The two most significant markets in this region are thought to be the US and Canada.
In 2022, about 35% of the global market was made up of gemcitabine HCl exports from North America.
Key factors that are anticipated to influence gemcitabine HCl shipments in the US over the next ten years include the existence of a developed healthcare infrastructure, the expanding availability of innovative cancer treatment medications, encouraging government programs to support medical research and development, the rising number of cancer patient cases, and the growing number of new cancer medication approvals by the US Food and Drug Administration (FDA).
By the end of 2023, there will likely be more than 1.9 million new instances of cancer in the US, according to data from the American Cancer Society.
Nearly 233,990 people were predicted to receive a cancer diagnosis by the end of 2022, according to the Canadian Cancer Society's Canadian Cancer Statistics 2022 Special Report, which was released in November 2022.
In conclusion, it is anticipated that during the projected period, each of the previously mentioned factors will be essential to sustaining the high demand for gemcitabine HCl in the North American region.
In this latest gemcitabine HCl market research report, the knowledgeable analysts at Fact.MR, a market research and competitive intelligence provider, have thoroughly examined a number of factors, including supply chain management, product standards, pricing trends, etc., and their impact on a regional and global scale.
Country-wise Insights
In recent years, the incidence of various types of cancer has been quickly expanding in European countries such as Austria, France, Germany, Hungary, and the United Kingdom, which is expected to primarily increase gemcitabine HCl shipments in the European region in the future.
According to an article published in The Cancer Atlas, approximately 3.9 million new instances of cancer were diagnosed in Europe in 2018.
High tobacco and alcohol consumption is contributing to a high cancer prevalence in France, which may generate chances for gemcitabine hydrochloride vendors in the future. Increasing investments in healthcare infrastructure development, high investments in cancer research, an increasing number of new approvals for cancer treatment products, and an expanding senescent population are some of the common aspects that are expected to impact gemcitabine.
Category-wise Insights
Generic pharmaceuticals already make for a significant portion of the worldwide gemcitabine HCl industrial landscape, and this share is expected to remain dominant over the next ten years. Generic medications are a popular choice among patients because they are less expensive and have comparable efficacy to branded drugs.
Rising knowledge of the efficacy of generic cancer drugs in the treatment of many types of malignancies, as well as the increasing availability of generic drugs, should help to drive growth in this area in the future.
Competitive Landscape
Prime gemcitabine HCl firms are projected to benefit from the growing number of clinical trials employing gemcitabine hydrochloride as global spending in oncology research expand.
Cornerstone Pharmaceuticals Inc., a leading provider of new cancer medicines, announced the completion of its Phase 1b clinical trial of CPI-613 (devimistat) in combination with cisplatin and gemcitabine for advanced unresectable biliary tract cancer treatment in August 2022.
In November 2020, the US Food and Drug Administration (FDA) authorized Pembrolizumab with chemotherapy as a treatment for patients with locally recurrent unresectable breast cancer whose tumors express PD-L1.
Collaborations, mergers, and acquisitions are also predicted to be prominent techniques used by gemcitabine HCl providers to accelerate the development and marketing of new gemcitabine HCl injectables. More information.
Key Segments of Gemcitabine HCl Industry Research
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By Type :
- Branded
- Generic
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By Application :
- Pancreatic Cancer
- Breast Cancer
- Ovarian Cancer
- Non-Small-Cell Lung Carcinoma (NSCLC)
- Others
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By End User :
- Hospitals
- Cancer Centers
- Others
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By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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