Tech-driven advancements in non-invasive treatment, and molecular diagnostics have been resulting in significant shifts in the healthcare sector over the last few decades. In addition, they have been playing an instrumental role in addressing all sorts of oncological disorders effectively.
Cancer is among the leading causes of mortalities across the globe. Alerted by the situation, governments in developed and developing regions are conducting awareness programs to reach the sections of the society where cancer awareness is abysmal. Moreover, agencies such as the food & drug administration (FDA) are showing promptness in approving drugs for cancer treatment. As these trends gain momentum, the global gemcitabine HCl market value will expand nearly 1.7X over 2020-2027, growing at a healthy growth rate.
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Key Takeaways of Gemcitabine HCl Market Study
- Generic gemcitabine HCl drugs account for over 70% of total market value. Low costs associated with these drugs are responsible for their healthy growth curve.
- Adoption of gemcitabine HCl is prominent in pancreatic cancer, and would capture over 2/5 of market value. This application is driven by an upsurge in caseloads of pancreatic cancer worldwide.
- Hospitals continue to remain the primary end user, wherein gemcitabine HCl worth over half a billion dollars would be utilized. Manufacturers are also targeting cancer centers for sustained margin growth.
- North America maintains its primacy in the gemcitabine HCl market. Conducive regulatory environment and shortage of injectable drugs are critical in defining market growth in the region. Asia Pacific (APAC) is also representing lucrative opportunities owing to rise in per capita healthcare expenditure.
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Gemcitabine HCl Market: In-Depth Analysis on Key Segments
Fact.MR has studied the gemcitabine HCl market with detailed segmentation on the basis of type, application, end users, and key regions.
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Strategic Collaborations – Key Growth Engine
Manufacturers are entering into strategic collaborations with hospitals for cancer research studies for various cancer types in order to develop novel drugs and therapeutic treatments. For instance, Biocept, Inc. teamed up with MedStar Georgetown University Hospital, the U.S., for research on resistance of biomarkers in patients suffering from non-small cell lung cancer (NSCLC).
In addition, market players have begun Patient Support Programs (PSP’s). For instance, Roche initiated the Blue Tree Program to share insights on the economic and psycho-social burden of patient’s journey. The company is also focusing on lowering the cost of manufacturing generic drugs, which could increase profit pool as well as decrease the overall burden on patients.
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