The global platinum based Cancer drugs market size is expected to
reach USD 1,814.1 Million by 2026 according to a new study by Polaris Market
Research. The report “Global Platinum Based Cancer Drugs Market Share,
Size, Trends, Industry Analysis Report By Drug Type (Cisplatin, Oxaliplatin,
Carboplatin, Other), Application (Colorectal, Ovarian, Lung, & Other
Cancer); By Regions, Segments & Forecast, 2019 – 2026”gives
a detailed insight into current market dynamics and provides analysis on future
market growth.
Drugs
based on platinum have become a major component of cancer therapy; about half
of all patients undergoing chemotherapy receive a platinum drug. The widespread
use of platinum agents in cancer treatment started with Barnett Rosenberg’s
discovery of cisplatin’s antineoplastic activity in the 1960s.
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According
to the National Cancer Institute, the instances of new cases per year is expected
to rise to 23.6 million by 2030. Nevertheless, the major limitations of this
industry worldwide are the drug-related side effects and resistance growth.
Recent developments in platinum based cancer drugs include the development of
analog platinum drugs such as platinum carrier molecule complexes to boost
targeted concentration of drugs in cancer tumor. This increasing number of
cancer instances is expected to drive the growth of the global platinum cancer
drug market during the forecast period.
The platinum
based cancer drugs market can be categorized in terms of product type as
oxaliplatin, cisplatin, carboplatin, and others. Cisplatin is the most commonly
used for treating certain malignancies. It is particularly effective in
testicular cancer and is intravenously administered. Carboplatin, a derivative
of cisplatin, is used to treat multiple cancers like ovaries, lungs, brains,
and so on. Cisplatin’s segment maintained the largest market share in 2018 and
is expected to remain dominant over the forecast period. Based on application,
the global market is divided into ovarian, lung, testicular, colorectal, and
other cancer. The lung cancer segment dominated the market in 2018 due to the
high incidence among the world’s population.
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Due to
enhanced disease prevalence, enhanced awareness, increased per capita income,
and enhanced health care infrastructure, the Asia Pacific market is anticipated
to develop at the largest CAGR. North America dominated the global market in
2018 due to the high incidence of cancer in the region, developments in these
drugs and recent FDA approvals. United States is the world’s largest drug
market. This has led to the dominance of North America in the global platinum
cancer drug market. The U.S. pharmaceutical industry is the largest domestic
market in the world. It is the world’s biggest continental pharmaceutical
market together with Canada and Mexico. More than 45 percent of the worldwide
pharmaceutical industry is held by the United States alone. This share was
valued at approximately $446 Million in 2016. Many of the top worldwide firms
are from the U.S. In 2016, six out of the top 10 firms were based on sheer
pharmaceutical income from the United States.
Major
players in the platinum cancer drug market include Sanofi, Pfizer, Inc., Mylan
N.V., Ask-Pharma, Sun Pharmaceutical Industries Ltd., Accord Healthcare,
Novartis AG, Teva Pharmaceutical Industries Ltd., Guizhou YiBai Pharmaceutical
Co., Ltd., SK Chemicals, Qilu Pharmaceutical Co., Ltd., Dr. Reddy’s
Laboratories Ltd., Debiopharm Group, and Jiangsu Hengrui Pharmaceutical Co.,
Ltd
Polaris
Market Research & Consulting
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1-646-568-9980
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sales@polarismarketresearch.com
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https://www.polarismarketresearch.com/
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