The global gemcitabine HCI market is on a positive growth trajectory, primarily driven by the rising incidence of cancer across the world. Projecting the Gemcitabine HCl market growth at an impressive CAGR of 6.9%, a new market study by Fact.MR provides a detailed analysis of the market and the COVID-19's impact on the market.
The widespread outbreak of infection has disrupted the supply chain, leading to adverse consequences for the pharmaceutical market. With the majority of pharmaceutical players banking on China for raw materials, the travel restrictions and the resulting supply chain disruption are limiting production. Furthermore, pharmaceutical players are shifting focus towards drugs that are essential to fight the COVID-19 infection. However, the gemcitabine drugs being a vital part of the oncology treatment, the need and demand for these drugs are expected to persist throughout the global pandemic period.
"Despite hampered productions during the first and second quarters of 2020, the consistent demand is likely to revamp that production in the upcoming quarters, thus posing an impact of gemcitabine short-lived," says the report.
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Generic gemcitabine HCl drugs will account for more than 2/3rd of the total market value owing to their benefits such as low costs associated and the shortage of generic injectable drugs in key therapeutic areas such as oncology, and cardiology.
Pancreatic cancer applications will account for nearly 40% of the overall global value, on the back of an upsurge in caseloads of pancreatic cancer worldwide.
Hospitals will remain the major end-use channel, contributing to gemcitabine HCl sales worth over half a billion dollars every year.
Cancer centers are gradually gaining traction among the manufacturers and sellers, and hence are exhibiting substantial revenue opportunities.
North America is expected to remain the leading regional market, accounting for more than 2/5th of global value, backed by innovations in the healthcare sector, favorable reimbursement policies and notable resource allocation to improve healthcare infrastructure.
Asia Pacific (APAC), is expected to provide lucrative growth opportunities for the manufacturers in the gemcitabine market, due to rising incidence of cancer, and rising healthcare spending by governments in countries such as China, and India. Backed by the aforementioned factors, APAC is expected to register significant growth during the forecast period.
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Regions covered: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Types of gemcitabine drugs covered: Branded and Generic
Applications covered: Pancreatic Cancer, Breast Cancer, Ovarian Cancer, Non-small-cell lung carcinoma (NSCLC), and Others
End-users covered: Hospitals, Cancer Centers, and Others
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Press Release: https://www.factmr.com/media-release/1407/global-gemcitabine-hcl-market