The taxane market is characterized by its crucial role in oncology, primarily as chemotherapy drugs to treat various cancers. Taxanes, such as paclitaxel and docetaxel, inhibit cancer cell growth by disrupting microtubules. These drugs are a dominating segment due to their effectiveness against breast, lung, and ovarian cancers. They exhibit strong market demand owing to their proven clinical success and continuous research, leading to improved formulations. Taxanes have become essential in the oncology landscape, contributing significantly to cancer treatment advancements and patient outcomes.
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Data Bridge Market Research analyses that the Global Taxane Market is growing with a CAGR of 7.6% in the forecast period of 2022 to 2029. Expanding healthcare infrastructure in emerging economies creates greater accessibility to healthcare services and treatments, including Taxanes. This increased access leads to higher demand for cancer treatments, contributing to the growth of the Taxane market in these regions.
Key Findings of the Study
The aging population is expected to drive the market's growth rate
As individuals age, their risk of developing cancer increases due to cumulative exposure to carcinogens and genetic mutations. This demographic shift towards an older population creates a greater demand for effective cancer treatments such as taxanes. These drugs are vital in managing various cancers in older adults, offering hope for improved outcomes. Thus, the aging demographic's susceptibility to cancer plays a significant role in driving the need for and utilization of taxanes in oncology.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Segments Covered
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Type (Paclitaxel, Docetaxel and Cabazitaxel), Drug Type (Branded and Generics), Formulation (Liposomes and Polymeric Micelles Containing Taxanes, Hydrogel Formulations Of Taxanes, Nanoparticle Formulation and Others), Age Group (Adults and Geriatric), Application (Ovarian Cancer, Breast Cancer, Prostate Cancer, Non-Small Cell Lung Cancer and Other), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others), Distribution Channel (Direct Tender, Retail Sales)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Viatris Inc. (U.S.), Sandoz International GmbH (Switzerland), Sanofi-Aventis U.S. LLC (U.S.), Hikma Pharmaceuticals PLC (U.K.), Pfizer Inc. (U.S.), Dr. Reddy's Laboratories Ltd. (India), Taxane Healthcare (India), Bristol-Myers Squibb Company (U.S.), Fresenius Kabi AG (Germany), Samyang Holdings Corporation (South Korea), Luye Pharma Group (China), Elevar Therapeutics (U.S.), Huiang Pharmaceutical Co Ltd. (China), Shenzhen Main Luck Pharmaceuticals Inc. (China), Accord Healthcare (U.K.), Torrent Pharmaceuticals Ltd. (India), Panacea Biotec (India), RPG Life Sciences Limited (India), Aureate Healthcare (India), Samarth Life Sciences Pvt. Ltd. (India), Cipla Inc. (India), Hetero Healthcare Limited (India), AqVida GmbH (Germany), Ingenus Pharmaceuticals, LLC. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global taxane market is segmented based on type, drug type, formulation, age group, application, end user, and distribution channel.
- On the basis of type, the global taxane market is segmented into paclitaxel, docetaxel, and cabazitaxel.
- On the basis of application, the global taxane market is segmented into ovarian cancer, breast cancer, prostate cancer, non-small cell lung cancer, and others.
- On the basis of drug type, the global taxane market is segmented into branded and generics.
- On the basis of formulation, the global taxane market is segmented into liposomes, nanoparticles, polymeric micelles, and others.
- On the basis of age group, the global taxane market is segmented into adults and geriatric. In 2022, the adult segment is projected to dominate the global taxane market with 77.26% market share because taxane-based therapies are primarily used in the treatment of adult cancer patients, reflecting a larger patient population and demand.
- On the basis of end user, the global taxane market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and others. In 2022, the hospitals segment is set to lead the global taxane market with 51.22% market share due to its pivotal role in patient care and cancer treatment.
In 2022, the hospitals segment of the end user segment is expected to dominate the global taxane market
In 2022, the hospitals segment is set to lead the global taxane market with 51.22% market share due to its pivotal role in patient care and cancer treatment. Hospitals serve as primary points for administering taxane-based therapies, making them the central hub for procuring and utilizing these drugs, thus exerting a dominant influence on the market's dynamics and growth.
- On the basis of distribution channel, the global taxane market is segmented into direct tender, and retail sales. In 2022, the direct tender is expected to dominate the global taxane market with 86.99% market share, as it offers efficiency and cost-effectiveness in procurement processes.
In 2022, the direct tenders segment of the distribution channel segment is expected to dominate the global taxane market
In 2022, the direct tender is expected to dominate the global taxane market with 86.99% market share, as it offers efficiency and cost-effectiveness in procurement processes. This approach streamlines the acquisition of taxane-based pharmaceuticals, ensuring a competitive edge in the industry while meeting the demand for these critical cancer treatments.
Major Players
Data Bridge Market Research recognizes the following companies as the global taxane market players in global taxane market are Viatris Inc. (U.S.), Sandoz International GmbH (Switzerland), Sanofi-Aventis U.S. LLC (U.S.), Hikma Pharmaceuticals PLC (U.K.), Pfizer Inc. (U.S.), Dr. Reddy's Laboratories Ltd. (India), Taxane Healthcare (India), Bristol-Myers Squibb Company (U.S.).
Market Developments
- In November 2022, Viatris Inc. and Biocon Biologics Ltd. jointly announced the launch of SEMGLEE, an interchangeable biosimilar product for insulin glargine-yfgn injection in the United States. SEMGLEE includes both a branded version and an unbranded version designed to assist in managing high blood sugar levels in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. These biosimilar products are offered in both vial and prefilled pen formats, and they are interchangeable with the reference brand LANTUS (insulin glargine). This interchangeability allows for convenient substitution at the pharmacy counter. Viatris is dedicated to enhancing patient access to sustainable, high-quality, and more cost-effective healthcare solutions, which has contributed to the expansion of their product portfolio.
- In November 2022, Viatris Inc. and Biocon Biologics Ltd. jointly announced: In November 2022, Viatris Inc. and Biocon Biologics Ltd. jointly announced: In November 2022, Viatris Inc. and Biocon Biologics Ltd. jointly announced the In May 2022, Sandoz, a global leader in the production of generic and biosimilar medications, made a significant announcement regarding the introduction of its generic pirfenidone in the United States. This generic medication is the first to receive an AB rating, indicating it can be fully substituted for Genentech's Esbriet in the treatment of patients with idiopathic pulmonary fibrosis (IPF). Patients can now readily access this oral prescription medication through specialty pharmacies, and Sandoz has implemented a $0 co-pay program for eligible patients. By prioritizing patients' needs and expanding access to a more cost-effective yet equally effective treatment option in the form of generic pirfenidone, Sandoz has bolstered its market presence and business growth.
Regional Analysis
Geographically, the countries covered in the global taxane market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global taxane market during the forecast period 2022 - 2029
In 2022, North America's dominance in the taxane market is attributed to key market players' presence and a substantial consumer base with a high GDP. The U.S. is poised for growth due to significant technological advancements in drug treatments. These developments enhance the efficacy and safety of taxane-based therapies, driving demand. The region's economic strength and technological innovation further solidify its leadership in the global taxane market.
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