Global Gemcitabine HCL Market Accounted for US$ 674.2 Million in 2022 and is Anticipated to Witness CAGR of 7.2% from 2023 to 2031
HOUSTON, TEXAS, UNITED STATES, August 8, 2023/EINPresswire.com/ — Global Gemcitabine HCL Market Summary
Gemcitabine HCL is a chemotherapy drug that is used to treat a variety of cancers, including pancreatic cancer, ovarian cancer, and non-small cell lung cancer. It is a type of antimetabolite, which means that it works by interfering with the DNA and RNA of cancer cells, causing them to die.
Before the COVID-19 pandemic, the gemcitabine HCL market showed steady growth. However, the pandemic caused a significant decline in demand due to manufacturing shutdowns, transportation restrictions, and reduced cancer diagnoses and treatments. As the prevalence of cancer rises and awareness of gemcitabine HCL benefits increases, the market is expected to recover, but at a slower pace than without the pandemic. The long-term impact of COVID-19 on the market highlights the importance of adapting to changing healthcare dynamics and maintaining sustained growth in the coming years.
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Global Gemcitabine HCL Market Growth Drivers:
• Increasing Cancer Incidence and Prevalence – One key driver of the gemcitabine HCL market is the rising incidence and prevalence of cancer globally. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide, with approximately 10 million deaths in 2021. The growing burden of cancer cases fuels the demand for chemotherapy drugs like Gemcitabine HCL. Academic research indicates a continuous increase in cancer cases over the years, necessitating effective and widely used chemotherapy treatments, contributing to the growth of the gemcitabine HCL market.
• Expanding Applications in Multiple Indications – Gemcitabine HCL’s versatility and efficacy in treating various cancers have expanded its applications in multiple indications. Clinical trials and studies have demonstrated Gemcitabine HCL’s efficacy in treating breast cancer, non-small cell lung cancer (NSCLC), pancreatic cancer, and other malignancies. The drug’s well-established clinical benefits and ongoing research on its potential in different cancer types have driven its adoption and usage in a broad spectrum of oncology treatments.
• Continuous Advancements in Cancer Research and Treatment – The evolving landscape of cancer research and treatment is a significant driver for the gemcitabine HCL market. Advancements in oncology research have led to the development of targeted therapies and combination treatments with Gemcitabine HCL. Research papers and clinical trials demonstrate the incorporation of Gemcitabine HCL into novel treatment regimens, including immunotherapy and precision medicine approaches, further driving its demand and contributing to the overall growth of the market.
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Global Gemcitabine HCL Market Recent Developments:
• Some recent developments in the gemcitabine HCL market include the approval of new gemcitabine HCL products with improved efficacy and safety profiles; the expansion of the oncology market, which is a major driver of the gemcitabine HCL market; and government support for the use of gemcitabine HCL in some countries.
• Among the regions, Asia Pacific is expected to witness highest growth rate in the gemcitabine HCL market. The region’s large patient population, increasing cancer incidence, and improving healthcare access have driven the demand for oncology drugs, including Gemcitabine HCL. Research and academic publications from Asia Pacific have indicated a surge in studies focusing on gemcitabine HCL’s efficacy and application, reflecting the region’s rapid growth in this market.
Global Gemcitabine HCL Market: Key Competitors
o Accord Healthcare Inc.
o Apotex Inc.
o Eli Lilly & Co.
o F. Hoffmann La Roche
o Fressenius Kabi USA
o Gland Pharma Ltd.
o Hebei Changsan Biochemical Pharmaceutical Co., Ltd
o Jiangsu Hansoh Pharmaceutical Group Co Ltd
o Mylan Pharmaceuticals Inc.
o Pfizer Inc. (Hospira Inc.)
o Sagent Pharmaceuticals Inc.
o Teva Pharmaceuticals Ltd.
o Other Industry Participants
Global Gemcitabine HCL Market:
By Product Type
o Breast Cancer
o Non-small Cell Lung Cancer
o Pancreatic Cancer
o Ovarian Cancer
o Biliary Tract cancer
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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