Global Paclitaxel Injection Market – Industry Trends and Forecast to 2030

 Paclitaxel Injection Market Analysis and Size

Rising tobacco and alcohol consumption, rising smoking prevalence, and a variety of other factors all contribute to an increase in the number of cancer cases worldwide. According to GLOBOCAN 2020, a cancer report produced by the International Agency for Research on Cancer, there were approximately 19.3 million new cases of cancer and approximately 10 million cancer deaths in the year 2020. One of the most important factors driving the growth of the paclitaxel injection market is the rising incidence of cancer. Taxol (paclitaxel) is a chemotherapy medication that inhibits the development of cancer cells and slows their growth and expansion in the body. It belongs to the class of drugs known as antineoplastics, and it prevents cancerous cell growth. Paclitaxel has a higher efficiency against cancer growth than other medications; additionally, paclitaxel injection is easily accessible in the market, which contributes to its high demand.

Data Bridge Market Research analyses that the paclitaxel injection market which is USD 5.10 billion in 2022, is expected to reach USD 13.55 billion by 2030, at a CAGR of 13.00% during the forecast period 2023 to 2030. 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.

Paclitaxel Injection Market Scope and Segmentation  

Market Definition

Paclitaxel injection is a gelatinous drug derived from pacific yew trees through a chemical synthesis process. It is a sub-class of antineoplastic drugs used to treat cancers of the breast, lungs, ovaries, stomach, cervix, and other organs. Paclitaxel infection affects tubulin, a small globular protein found in human cells. It must be injected under the supervision of an oncologist with chemotherapy experience. Before prescribing this medication, the doctor should ensure that the patient does not have a high or low blood pressure problem. This injection has a number of side effects, including allergy, a decrease in WBC count, and blood pressure problems.

Paclitaxel Injection Market Dynamics

Drivers

• The rise in the number of cancer patients

One of the primary drivers of the paclitaxel injection market's growth is the increase in the number of cancer patients worldwide. According to WHO, cancer was the first or second leading cause of death for people under the age of 70 in 112 of the 183 countries studied in 2019. Furthermore, it was the third or fourth leading cause in the rest of the world.

The increased use of tobacco and alcohol is leading to an increase in the number of cancer patients worldwide. The rise in cancer cancers is expected to increase demand for paclitaxel injections because paclitaxel is a key drug used to treat cancer patients.

• Surging investments in healthcare infrastructure and spending

Increased investment, particularly by governments, is one of the primary drivers of market growth. According to a study conducted by the Peter G. Peterson Foundation, healthcare spending in the United States has increased significantly. National healthcare spending is expected to reach USD 6.2 trillion by the end of 2028. Furthermore, the American Medical Association predicts that US healthcare spending will rise 9.7% to USD 4.1 trillion in 2020. This rate of growth is significantly higher than the 4.3% forecast for 2019. These are the certain factors which propel the market growth.

Opportunities

• Increased prevalence of breast cancer

The increased prevalence of breast cancer in females is propelling the paclitaxel injection market forward. According to the International Agency for Research on Cancer, breast cancer has surpassed lung cancer as the most common type of cancer diagnosed. Furthermore, breast cancer will account for 11.7 percent of all new cancer cases in 2020. As a result, the prevalence of breast cancer is expected to rise further, as will public awareness of the efficacy of paclitaxel injection in the treatment of the disease.

Restraints/Challenges

• Rising side effects associated to paclitaxel injection

Rising adverse effects such as blood clots, allergy, leucopenia, diarrhoea, and weight loss, as well as the high cost of the drug, which is less affordable in low-income countries, are major factors acting as restraints and will further challenge the paclitaxel injection market during the forecast period.

This paclitaxel injection market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the paclitaxel injection market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Paclitaxel Injection Market

The COVID-19 pandemic negatively impacts the availability of surgical care for millions of patients worldwide. COVID-19 has a wide-ranging impact on operating practise, affecting everything from staffing and workforce issues to procedural arrangements, intra-operative viral transmission risk, and perioperative preparation fluctuations. As a result of the pandemic, affected individuals are being denied operating access, with undefined loss of function and the risk of an adverse diagnosis. Individuals with cancer are thought to be at a higher risk of developing severe complications from the SARS CoV2, and treatment delays can result in worse oncological outcomes. Proper planning is thus required to deal with cancer treatment facilities while avoiding the risk of contamination to patients and staff.

Recent Developments

• In 2019, Celgene Corporation announced updates for ABRAXANE in the initial phase of treating pancreatic cancer and metastatic triple-negative breast cancer.
• In 2019, Sun Pharma Advanced Research Company Ltd. announced that Abraxis Bioscience had withdrawn its claims of infringement overpaclitaxel injection concentration for suspension.
• In 2022, ProPhase Labs, Inc. established BioPharma, Inc. as a wholly-owned subsidiary Furthermore, ProPhase BioPharma, Inc. (PBIO) and Global BioLife, Inc. have signed a licence agreement for the Linebacker portfolio (LB-1 and LB-2), two patented small molecule PIM kinase inhibitors with significant promise across numerous therapeutic indications. The company's initial focus will be on co-therapy for paclitaxel.

Global Paclitaxel Injection Market Scope

The paclitaxel injection market is segmented on the basis of indication and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Indication

• Breast Cancer
• Cervical Cancer
• Ovarian Cancer
• Stomach Cancer
• Prostate Cancer
• Lungs Cancer
• Esophageal Cancer
• Testicular Cancer
• Pancreatic Cancer
• AIDS Related Kaposi’s Sarcoma
• Others

 End-User

• Hospitals
• Clinics
• Cancer Research Institute

Paclitaxel Injection Market Regional Analysis/Insights

The paclitaxel injection market is analyzed and market size insights and trends are provided by country, indication and end-user as referenced above.

The countries covered in the paclitaxel injection 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.

North America dominates the paclitaxel injection market due to high prevalence of breast cancer and stomach cancer and improved efficacy of paclitaxel injections in this region.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the high population and increasing fundamental benefits of paclitaxel injection, quick results are expected in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Paclitaxel Injection Market Share Analysis

The paclitaxel injection market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to paclitaxel injection market.

Some of the major players operating in the paclitaxel injection market are:

• Abbott (U.S.)
• Pfizer Inc. (U.S.)
• Fresenius SE & Co. KGaA (Germany)
• Strides Pharma Science Limited (India)
• Sagent Pharmaceuticals, Inc (U.S.)
• Bristol-Myers Squibb Company (U.S.)
• Taj Accura Pharmaceuticals Ltd (India)
• Khandelwal Laboratories Pvt. Ltd (India)
• Luye Pharma AG (China)
• Youcare Pharmaceutical Group Co., Ltd (China)
• Baisainuo (China)
• Novasep (France)
• ONCOtherapeutics, Inc. (India)

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