Oxaliplatin Market Size, Share, Growth, and Industry Analysis, By Type (Mannitol, Glucose Solution, Lactose Solution and Others), By Application (Colorectal Cancer, Stomach Cancer, Ovarian Cancer and Others), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

Report Overview

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The global oxaliplatin market size was USD 880 million in 2020. As per our research, the market is expected to reach USD 1493.6 million by 2027, exhibiting a CAGR of 8.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the oxaliplatin market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Oxaliplatin is a platinum-based chemotherapy drug that is used to treat colorectal cancer, stomach cancer, head and neck cancer, and pancreatic cancer. It is also used in combination with other chemotherapy drugs to treat advanced ovarian cancer.

Oxaliplatin is a type of alkylating agent. Alkylation agents work by damaging the DNA of cancer cells, which stops them from growing and dividing. Oxaliplatin is specifically known to cause DNA crosslinking, which is a type of DNA damage that is particularly difficult for cancer cells to repair.

COVID-19 Impact: Pandemic Decreased the Market Demand

The COVID-19 pandemic has had a significant impact on the oxaliplatin market share. The pandemic has disrupted the supply chain for oxaliplatin in a number of ways. For example, the closure of borders and restrictions on travel have made it difficult to import and export the drug. In addition, the pandemic has led to a shortage of raw materials used to manufacture oxaliplatin, such as platinum. The pandemic has also led to a decrease in cancer screenings. This is because people have been less likely to go to the doctor during the pandemic due to concerns about getting sick. As a result, there have been fewer cases of cancer detected early, which has led to a delay in the diagnosis and treatment of cancer. The decrease in cancer screenings is particularly concerning for colorectal cancer, which is one of the most common types of cancer that is treated with oxaliplatin. Colorectal cancer is often curable if it is detected early, but it is much more difficult to treat if it is detected later.

Latest Trends

"Increasing government funding for cancer research and development is expected to fuel the growth in the market"

Governments are increasingly funding basic research into cancer, with the goal of understanding the underlying causes of the disease and developing new prevention strategies. For example, the National Cancer Institute (NCI) of the United States has increased its funding for basic cancer research by 50% in the past five years. Governments are also investing in precision medicine, which is the tailoring of cancer treatment to the individual patient's genetic makeup. This approach has the potential to improve the effectiveness and reduce the side effects of cancer treatment. For example, the UK government has launched a £200 million Precision Medicine Programme to accelerate the development and use of precision medicine in cancer. Governments are also providing support for clinical trials, which are research studies that test new cancer treatments in people. This is important because clinical trials are the only way to determine whether a new treatment is effective and safe. These are just a few of the recent trends in government funding for cancer research and development. This funding is essential to the development of new and better treatments for cancer.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Mannitol, Glucose Solution, Lactose Solution and Others.

• By Application Analysis

Based on age, the market can be divided into Colorectal Cancer, Stomach Cancer, Ovarian Cancer and Others.

Driving Factors

"Increasing incidence of cancer to foster the market growth"

Cancer is a complex disease that can be caused by a variety of factors, including genetics, environmental exposure, and lifestyle choices. The incidence of cancer has been increasing in recent years due to a number of factors, including:

• An aging population: The global population is aging, and older people are more likely to develop cancer.
• Unhealthy lifestyle choices: Smoking, obesity, and a lack of physical activity are all risk factors for cancer.
• Environmental pollution: Exposure to pollutants such as air pollution and radiation can increase the risk of cancer.

The increasing incidence of cancer is a major driver of the market because it is an effective treatment for colorectal cancer, which is one of the most common types of cancer. As the incidence of colorectal cancer increases, so too will the demand for it.

"Advances in cancer treatment to result in the expansion of the market"

In recent years, there have been significant advances in cancer treatment. These advances have led to more effective and less toxic treatments, which has made cancer more treatable. It is one of the newer cancer drugs, and it has been shown to be effective in combination with other chemotherapy drugs. The combination of oxaliplatin with other chemotherapy drugs has been shown to be more effective than single-agent therapy. This is because it works in a different way than other chemotherapy drugs, and it can help to kill cancer cells that are resistant to other treatments. The advances in cancer treatment have led to an increase in the demand for it. As more effective treatments become available, the demand for oxaliplatin is likely to continue to grow.

Restraining Factors

"Serious side effects of the drug to hamper the market growth"

Oxaliplatin can cause damage to the nerves, which can lead to numbness, tingling, and pain in the hands and feet. In some cases, the neurotoxicity can be permanent. These serious side effects can make it a difficult drug to use, and they can also limit its use in certain populations. For example, it is not recommended for people with kidney problems or a history of allergic reactions.

Regional Insights

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"Asia Pacific to lead the market owing to the increasing availability of healthcare"

The Asia Pacific region has shown the highest oxaliplatin market growth. The healthcare system in the Asia-Pacific region is improving, and people are more likely to have access to cancer treatment. The cost of it is decreasing in the Asia-Pacific region, making it more affordable for patients.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Sanofi-Aventis: Paris, France
• Yakult Honsha: Tokyo, Japan
• Dr. Reddy's Laboratories: Hyderabad, India
• Sun Pharmaceutical Industries: Mumbai, India
• Teva Pharmaceutical Industries: Petah Tikva, Israel
• Fresenius Kabi: Bad Homburg vor der Höhe, Germany
• Hospira: Lake Forest, Illinois, United States
• Mylan: Canonsburg, Pennsylvania, United States
• Jiangsu Hengrui Medicine: Nantong, Jiangsu, China
• Nanjing Pharmaceutical Factory: Nanjing, Jiangsu, China
• Jiangsu Aosaikang Pharmaceutical: Changzhou, Jiangsu, China
• Qilu Pharmaceutical: Jinan, Shandong, China
• Hisun Pharmaceutical: Shijiazhuang, Hebei, China
• Lunan Pharmaceutical: Weifang, Shandong, China
• Luoxin: Changzhou, Jiangsu, China
• Halfsky Pharmacy: Tianjin, China
• YRPG: Qingdao, Shandong, China
• Hainan Jinrui Pharmaceutical: Haikou, Hainan, China
• Jari Pharmaceutical: Shanghai, China
• Chiatai Tianqing: Beijing, China

Report Coverage

This report examines an understanding of the oxaliplatin market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.