North America Taxane Market, By Type (Paclitaxel, Docetaxel, Cabazitaxel), Drug Type (Generics, Branded), Formulation (Liposomes, Nanoparticles, Polymeric Micelles, Others), Age Group (Adults, Geriatric), Application (Breast Cancer, Non-Small Lung Cancer, Pancreatic Cancer, Ovarian Cancer, Prostate Cancer, Others), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Others) Distribution Channel (Retail Sales, Direct Tender) - Industry Trends and Forecast to 2029.
Market Analysis and Insights
North America taxane market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.7% in the forecast period of 2022 to 2029. Technological advancements in taxane drug treatments, coupled with rising applications of computer-aided diagnosis, are other factors driving the taxane market growth in the forecast period.
However, the high cost associated with the drug and side effects such as blood clots, leucopenia, allergy, diarrhea, and weight loss will restrain the market's growth. Adoption of strategic alliances like partnerships and acquisitions by key market players act as an opportunity for the growth of taxane market.
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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
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By 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, Mexico
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Market Players Covered
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Viatris Inc., Sandoz International GmbH ( A Novartis Division), sanofi-aventis U.S. LLC , Hikma Pharmaceuticals PLC, Pfizer Inc., Dr. Reddy’s Laboratories Ltd., Taxane Healthcare, Bristol-Myers Squibb Company, Fresenius Kabi AG (Subsidiary of Fresenius SE & Co. KGaA ), SAMYANG HOLDINGS CORPORATION., Luye Pharma Group, Elevar Therapeutics, Huiang Pharmaceutical Co Ltd., Shenzhen Main Luck Phar maceuticals Inc., Accord Healthcare, Torrent Pharmaceuticals Ltd., Panacea Biotec, RPG Life Sciences Limited., Aureate Healthcare, Samarth Life Sciences Pvt. Ltd., Cipla Inc., Hetero Healthcare Limited., AqVida GmbH, Ingenus Pharmaceuticals, LLC among others.
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Taxane Market Definition
The taxanes or taxoids are a closely related group of antineoplastic agents that have a unique mechanism of action as mitosis inhibitors and are widely used in the therapy of ovarian, breast, lung, esophageal, prostate, bladder and head and neck cancers. Three taxanes are in clinical use, paclitaxel (Taxol: 1992), docetaxel (Taxotere: 1996) and cabazitaxel (Jevtana: 2010). Taxanes are anticancer drugs that interfere with microtubule function, causing changes in mitosis and cellular death. Paclitaxel (Taxol) was first isolated from a yew tree, a small evergreen coniferous tree with a slow growth rate. As paclitaxel was initially scarce, docetaxel (Taxotere), a semisynthetic analogue of paclitaxel derived from the needles of the European yew tree Taxus baccata, was created. Docetaxel differs from paclitaxel in two chemical locations, making it more water soluble. Cabazitaxel is also a semisynthetic analogue of natural taxoids and was developed for its lack of affinity for P-glycoprotein, a common mediator of docetaxel resistance.
Furthermore, increasing use of taxane drugs due to rising prevalence of chronic diseases, surging prevalence of cancer, and increasing investment for healthcare infrastructure. These factors increase in the demand for taxane market has encouraged the key market players to implement newer technologies and strategies through product launches, acquisition, strategies and agreements.
Taxane Market Dynamics
Drivers
- The rise in incidence of cancer
Cancer has a major impact on society in the United States and worldwide. Cancer statistics describe what happens in large groups of people and provide a picture in time of the burden of cancer on society. Taxol, an antimitotic agent, used to treat cancer, blocks cancer cell growth by stopping cell division, resulting in cell death.
According to National Cancer Institute (NCI), a funded clinical trial found that 30 percent of patients with advanced ovarian cancer responded positively to taxane treatment. In clinical practice, the taxane is now standard therapy in metastatic breast cancer. Today, taxol is on the World Health Organization's Model List of Essential Medicines, a cytotoxic drug that kills cancer cells. It treats breast cancer, ovarian cancer, non-small cell lung cancer, pancreatic cancer, and AIDS-related Kaposi sarcoma.
- The funding by the government and investment in research and development
Despite the established effectiveness of pharmacotherapies for treating opioid use and alcohol disorders, limitations to the implementation of taxane by specialty treatment programs have been observed. Certain attention needs to be paid to specific sources for funding, organizational structure, and workforce resources, making a long-term investment that aligns the payment with the potential future beneficiaries. The issues around sustainability, productivity, and patient impact of drug development have never been and will not simply be a product of industry.
The funding by the government would result in the patient's safety, cost-savings. In addition, hospitals and healthcare agencies would administer this treatment at a lower price through collaboration with government organizations. Hence the advancements in research and development activities and funding by the government are expected to drive the market growth.
Restraint
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Side effects of drugs incurred with the taxane drugs
Taxanes belong to a class of diterpenes. Taxane drugs (paclitaxel and docetaxel) are used as chemotherapeutic agents. Due to ongoing clinical trials, research studies, type of cancer, type of treatment plan, and drug dosage, the present high cost is expected to show a descending trend in the future. Taxane drugs are most effective for treating breast and prostate cancer. However, certain side effects have been reported. The adverse complications or side effects reported would lead to a decline in sales of the taxane drugs, which would limit the sales of the drugs. In addition, it would affect the reliability of manufacturers involved in this market and hence be expected to restrain the market growth.
Opportunity
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Strategic initiative by market players
The demand for taxane market has increased in the U.S. and Europe owing to the timely treatment of alcohol and opioid disorders. These favorable factors enhance the need for taxane, and to achieve the market demand, minor and major market players are utilizing various strategies.
The major players are also trying to devise specific strategies, such as product launches, acquisitions, approvals, expansions, and partnerships, to ensure the smooth running of the business, avoid risks, and increase the long-term growth in the sales of the market.
These strategic initiatives by the market players, including acquisition, conferences, and focused segment product launches, are helping the companies grow and improve the company's product portfolios, ultimately leading to more revenue generation. Hence, these strategic initiatives by the market players provide an opportunity to help in future growth and drive market growth.
Challenge
- The lack of skilled professionals required for taxane drug treatment
The lack or shortage of skilled expertise would challenge the pace of recovery and growth in one place. Often the unemployed people in one place have skills that are in short supply elsewhere. Moreover, rapid technological advancement in this field also leads to a lack of expertise.
Physician supply is a term used to describe the number of trained physicians working in a healthcare system or labor market. It is dependent on the number of graduates and the retention rates of the profession. The physician shortage is a growing concern in many countries around the world.
The World Health Organization (WHO) estimated a global shortage of 4.3 million physicians, nurses, and other health professionals. Despite the strong evidence for the effectiveness of drugs in reducing morbidity and mortality, increasing treatment retention, and improving well-being for individuals with taxane, numerous barriers prevent broader access to taxane drug-based treatment.
Moreover, technological advancement is another aspect that leads to the increased demand for skilled professionals. Neurologists report significant unmet supportive care needs and barriers in their centers, with only a small minority rating themselves as competently providing supportive care. There is an urgent need for the education of professionals for the treatment of dementia and procuring available supportive care resources. Lack of trained and experienced professionals and persistent skill gaps limit the employability prospects and access to quality jobs. Therefore, it is apparent that the availability of professionals with adequate skills is challenging the market growth.
Post COVID-19 Impact on Taxane Market
COVID-19 has resulted in a substantial increase in demand for medical supplies from healthcare professionals and the general public for precautionary measures. Manufacturers of these items have an opportunity to take advantage of the increased demand for medical supplies by ensuring a steady supply of personal protective equipment on the market. COVID-19 is anticipated to have a big impact on the taxane market.
Recent Developments
- In November 2022, Viatris Inc. and Biocon Biologics Ltd. announced the U.S. launch of interchangeable biosimilars SEMGLEE (insulin glargine-yfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. Both biosimilar products are available in vial and prefilled pen presentations and are interchangeable for the reference brand, LANTUS (insulin glargine), allowing for substitution at the pharmacy counter. Viatris is committed to improving patient access to sustainable, quality and more affordable healthcare. This has helped the company to grow their product portfolio.
- In May 2022, Sandoz, a global leader in generic and biosimilar medicines, announced the U.S. launch of its generic pirfenidone, the first AB-rated (fully substitutable) equivalent to Genentech’s Esbriet, to treat patients with idiopathic pulmonary fibrosis (IPF). This prescription oral medicine is immediately available to patients via specialty pharmacies, with a $0 co-pay program for eligible patients. Sandoz is putting patients first by expanding access to generic pirfenidone for those with this rare disease, who will benefit from a more affordable, yet equally effective treatment. This has helped the company to grow its market position and business.
Taxane Scope and Market Size
Taxane market is segmented based on type, drug type, formulation, age group, application, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the Difference in your target markets.
By Type
- Paclitaxel
- Docetaxel
- Cabazitaxel
On the basis of type, the North America taxane market is segmented into paclitaxel, docetaxel and cabazitaxel.
By Application
- Ovarian Cancer
- Breast Cancer
- Prostate Cancer
- Non-small Cell Lung Cancer
- Other
On the basis of application, the North America taxane market is segmented into ovarian cancer, breast cancer, prostate cancer, non-small cell lung cancer and others.
By Drug Type
- Generics
- Branded
On the basis of drug type, the North America taxane market is segmented into branded and generics.
By Formulation
- Liposomes
- Nanoparticles
- Polymeric Micelles
- Others
On the basis of formulation, the North America taxane market is segmented into liposomes, nanoparticles, polymeric micelles and others.
By Age Group
- Adult
- Geriatric
On the basis of age group, the North America taxane market is segmented into adults and geriatric.
By End User
- Hospitals
- Ambulatory surgical centers
- Specialty clinics
- Others
On the basis of end user, the North America taxane market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and others.
By Distribution Channel
- Direct tender
- Retail Sales
On the basis of distribution channel, the North America taxane market is segmented into direct tender, retail sales.
North America Taxane Market Regional Analysis
The taxane market is analyzed and market size information is provided by type, drug type, formulation, age group, application, end user and distribution channel.
The countries covered in the taxane market report are U.S., Canada, Mexico.
In 2022, U.S. is dominating due to the presence of key market players along the largest consumer market with high GDP. U.S is expected to grow due to rise in technological advancement in drug treatments.
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 such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Taxane market also provides you with detailed market analysis for every country growth in healthcare industry. Moreover, it provides detailed information regarding healthcare services and treatments, impact of regulatory scenarios, and trending parameters regarding Taxane Market.
Competitive Landscape and Taxane Market Share Analysis
Taxane 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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to taxane drugs.
The major companies which are dealing in the taxane market are Viatris Inc., Sandoz International GmbH (A Novartis Division), sanofi-aventis U.S. LLC , Hikma Pharmaceuticals PLC, Pfizer Inc., Dr. Reddy’s Laboratories Ltd., Taxane Healthcare, Bristol-Myers Squibb Company, Fresenius Kabi AG (Subsidiary of Fresenius SE & Co. KGaA), SAMYANG HOLDINGS CORPORATION., Luye Pharma Group, Elevar Therapeutics, Huiang Pharmaceutical Co Ltd., Shenzhen Main Luck Phar maceuticals Inc., Accord Healthcare, Torrent Pharmaceuticals Ltd., Panacea Biotec, RPG Life Sciences Limited., Aureate Healthcare, Samarth Life Sciences Pvt. Ltd., Cipla Inc., Hetero Healthcare Limited., AqVida GmbH, Ingenus Pharmaceuticals, LLC among others.
Strategic alliances like mergers, acquisitions and agreement by the key market players are further expected to accelerate the growth of taxane drugs.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the taxane market which also provides the benefit for organization’s profit growth.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
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