Paclitaxel Injection Market Overview
The Paclitaxel Injection Market Size is estimated to reach $9.4 billion by 2028 and it is poised to grow at a CAGR of 13.2% over the forecast period of 2023-2028. Paclitaxel Injection is a chemotherapy drug. It kills cells that divide quickly, such as cancer cells. Paclitaxel Injection is a medication for cancer that reduces or halts the proliferation of cancer cells. This medication is used to treat ovarian cancer, breast cancer, non-small cell lung cancer, pancreatic cancer and other cancers. Patients with advanced AIDS-related Kaposi's sarcoma who have previously failed liposomal anthracycline therapy are recommended to receive paclitaxel. The rising rate of cancer is the main factor driving the Paclitaxel Injection Market size. According to the World Health Organization, over the next two decades, it is anticipated that the incidence of cancer would rise by nearly 70% worldwide. The key players in the Paclitaxel Injection Market are focusing on the creation of more advanced paclitaxel injections. Growing research and development activities in the market, technological advancements and modernization in the healthcare sector would aid in creating opportunities for the Paclitaxel Injection Market in the forecast period of 2023-2028.
Paclitaxel Injection Market Report Coverage
The report: “Paclitaxel Injection Market Forecast (2023-2028)" by IndustryARC, covers an in-depth analysis of the following segments in the Paclitaxel Injection Market.
- Geographically, North America held a dominant market share in 2022. The presence of upgraded and modernized healthcare infrastructure, rising healthcare spending and a high level of awareness regarding the accessibility of cutting-edge treatments and medications like paclitaxel injection have all contributed to the market's expansion in North America.
- The effectiveness of gemcitabine chemotherapy is increased by nanoparticle formulations that target lipid metabolism. Companies in the market for paclitaxel injection are expanding their capacity for manufacturing nanoparticle formulations to prevent excessive lipid formulation and change membrane stability, the growth of the market.
- A detailed analysis of the strengths, weaknesses, opportunities and threats would be provided in the Paclitaxel Injection Market Report.
Paclitaxel Injection Market: Market Share by Region (%), 2022
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Paclitaxel Injection Market: by Indication Type
The Paclitaxel Injection Market, based on indication type, can be further segmented into Prostate Cancer, Breast Cancer, Non-small Cell Lung Cancer, AIDS-related Kaposi's Sarcoma, Ovarian Cancer, Stomach Cancer, Cervical Cancer, Esophageal Cancer, Testicular Cancer, Lung Cancer, Pancreatic Cancer and Others. Breast Cancer held a dominant market share in 2022 for the Paclitaxel Injection industry. According to a WHO report in 2020, 2.3 million women were diagnosed with breast cancer and 6,85,000 died globally. The International Agency for Research on Cancer reports that breast cancer has surpassed lung cancer as the most frequent type of cancer. However, the Lung Cancer segment is estimated to be the fastest-growing segment, with a CAGR of 14.1% over the forecast period of 2023-2028. According to The American Cancer Society, about 236,740 new cases of lung cancer (117,910 in men and 118,830 in women) in those 130,180 deaths from lung cancer (68,820 in men and 61,360 in women) have been reported in 2020.
Paclitaxel Injection Market: by End-user
The Paclitaxel Injection Market, based on end-user, can be further segmented into Cancer Research Centers, Hospitals and Others. Hospitals held a dominant market share in the market of Paclitaxel Injections in 2022. Hospitals have all the necessary infrastructure in place to provide cancer treatments like chemotherapy. Furthermore, hospitals have enough funds to keep vital medications on hand for different patients. In recent years, the growth of this market has been aided by the stockpiling of paclitaxel injections and the rising use of hospitals around the world. However, the Cancer Research Centers segment is estimated to be the fastest-growing end-user, with a CAGR of 14.3% over the forecast period of 2023-2028. According to WHO Report 2022, globally, cancer is the major cause of death with up to 10 million deaths in 2020 or close to one in every six. The most common cancers are breast, lung, colon and rectum and prostate cancers. The growing research and development activities to develop innovative injections are driving the cancer research centers segment.
Paclitaxel Injection Market: by Geography
North America held a dominant market share of 38% in 2022. The prevalence of cancer has increased throughout North America. According to the American Cancer Society, approximately 1.8 million new cancer cases and approximately 606,520 cancer deaths were registered in the U.S in 2020. The presence of upgraded and modernized healthcare infrastructure, rising healthcare spending and a high level of awareness regarding the accessibility of cutting-edge treatments and medications like paclitaxel injection have all contributed to the market expansion in North America. However, Asia-Pacific is estimated to be the fastest-growing region over the forecast period of 2023-2028. As smoking is becoming more common and more people are using tobacco, Asia-Pacific is seeing an increase in the prevalence of cancer.
Paclitaxel Injection Market Drivers
The Effectiveness of Chemotherapy Using Gemcitabine with Paclitaxel Injection:
One of the most fatal diseases with a low survival rate is pancreatic cancer. According to the American Cancer Society, 62,210 people (32,970 men and 29,240 women) would be diagnosed with pancreatic cancer and 49,830 people (25,970 men and 23,860 women) would die of pancreatic cancer in 2022. Innovations in paclitaxel injections are being driven by such medical problems. The preferred kind of treatment for those with pancreatic cancer is gemcitabine (GEM). As a result, businesses in the Paclitaxel Injection Market are utilizing this chance to innovate by developing special paclitaxel-poly (lactic-co-glycolic acid) (PLGA) nanoparticles (PPNPs) compositions to enhance patient outcomes. The effectiveness of gemcitabine chemotherapy is increased by nanoparticle formulations that target lipid metabolism. Companies in the market for paclitaxel injections are expanding their capacity for manufacturing nanoparticle formulations to prevent excessive lipid formulation and change membrane stability.
The Increasing Prevalence of Cancer:
Paclitaxel Injection is given in a hospital or medical facility under the supervision of a doctor who is experienced in giving chemotherapy medications for cancer. As per National Centre for Health Statistics in 2021, 1,898,160 new cancer cases and 608,570 cancer deaths are projected in the United States. After increasing for most of the 20th century, the cancer death rate has fallen continuously from its peak through 2019, for a total decline of 31%, because of reductions in smoking and improvements in early detection and treatment. As per National Cancer Statistics 2020, 1,806,590 new cases of cancer were diagnosed in the United States and 606,520 people died from the disease. 16,850 children and adolescents ages 0 to 19 were diagnosed with cancer and 1,730 people died from the disease. Due to these facts, the demand for the Paclitaxel injection industry has enjoyed considerable growth.
Paclitaxel injection Market Challenges
A Rise in Infections with the Decrease in the Number of White Blood Cells Due to Excessive Usage of Paclitaxel Injection:
Paclitaxel injection causes a massive drop in the number of white blood cells in the blood. This increases the risk of developing a serious infection. According to the National Library of Medicine in 2020, Paclitaxel injection is not prescribed to patients, if there is a low number of white blood cells. The doctor orders laboratory tests before and during treatment to check the number of white blood cells in the blood. Doctor delays or interrupts treatment if the number of white blood cells is too low. These are challenging the growth of the Paclitaxel injection Industry.
Paclitaxel Injection Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Paclitaxel Injection Market. The top 10 companies in the Paclitaxel Injection Market are:
- Bristol Myers Squibb
- Sagent Pharmaceuticals
- Celgene Corporation
- Abbott Laboratories
- Oncology Ltd
- Fresenius Kabi Oncology Ltd
- Luye Pharma Group
- Strides Arcolab Ltd.
- Apotex Corp.
- On 12th April 2022, Apotex Corp. launched Paclitaxel protein-bound particles for injection (albumin-bound), a generic version of Abraxane® in the United States. Paclitaxel protein-bound particles for injectable suspension are indicated for the treatment of metastatic breast cancer, non-small cell lung cancer and adenocarcinoma of the pancreas.
Report Code: HCR 0023
Report Code: HCR 0197
Report Code: HCR 0397
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