Oxaliplatin Market: Introduction
- Oxaliplatin is anti-cancer medication indicated to treat colorectal cancer. It is a platinum-based drug belonging to the same family as that of cisplatin and carboplatin. The drug is classified as an alkylating agent and is administered in combination with fluorouracil and leucovorin.
- Oxaliplatin acts by interfering with the development of DNA in a cell, thereby stopping it from dividing into new cells and kills it
- Treatment with chemotherapy drug takes nearly 2 to 6 hours. The patient needs to have oxaliplatin every 2 or 3 weeks, as per the treatment cycle.
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Key Drivers & Restraints of Global Oxaliplatin Market
- The global oxaliplatin market is primarily driven by increase in prevalence of colorectal cancer, rise in demand for new cancer cases, and extensive research in the field of oncology
- As per the data by the National Cancer Institute, nearly 1,735,350 new cases of cancer were diagnosed in the U.K. and 609,640 people were succumbed to the disease in 2018
- According to the American Society of Clinical Oncology (ASCO), in 2019, nearly 45,600 adults in the U.S. were diagnosed with colorectal cancer
- Furthermore, increase in incidence of colorectal cancer is expected to boost the growth of the market. According to the ASCO, incidence of colorectal cancer is on rise among the people who are younger. Additionally, colorectal cancer is the third most common cancer diagnosed in men and women.
- However, rise in adoption of alternatives such as targeted therapies is likely to restrain the growth of the oxaliplatin market
Adjuvant Treatment of Stage III Colon Cancer Segment to Account for Major Share of Global Oxaliplatin Market
- Based on application, the global oxaliplatin market can be classified into adjuvant treatment of stage III colon cancer, treatment of stage IV colorectal cancer, and others
- The adjuvant treatment of stage III colon cancer segment is likely to continue its dominance by 2027. Increase in number of clinical trials evaluating the use of oxaliplatin for the treatment of colorectal cancer is expected to support the growth of the segment during the forecast period.
Hospital Pharmacies Segment to Gain Major Share of Global Market
- Based on distribution channel, the global oxaliplatin market can be classified into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is projected to hold prominent market share between 2019 and 2027.
North America to Dominate Global Oxaliplatin Market
- In terms of region, the global oxaliplatin market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held prominent share of the global oxaliplatin market and is expected to continue its dominance during the forecast period.
- In North America, the oxaliplatin market is projected to be driven by increase in number of colorectal cancer cases and rising awareness of various treatment modalities for cancer
- As per the U.S. Department of Health and Human Services, in the U.S., colorectal cancer represented 8.3% of all new cancer cases in 2019
- According to the American Cancer Society, Inc. (ACS), in 2020, nearly 104,610 new cases of colon and 43,340 cases of rectal cancer are expected to be diagnosed in the U.S. with nearly 53,200 deaths from colorectal cancer
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Key Players Operating in Global Market
The global oxaliplatin market is highly fragmented, with a large number of domestic players accounting for a major market share. Key players operating in the global oxaliplatin market are:
- Pfizer Inc.
- Fresenius Kabi D
- Dr. Reddy’s laboratory
- Sun Pharmaceutical Industries Ltd.
- Qilu Pharmaceutical Co., Ltd.
- Teva Pharmaceuticals USA, Inc.
- Jiangsu Aosaikang Pharmaceutical Co. Ltd.
Global Oxaliplatin Market: Research Scope
Global Oxaliplatin Market, by Application
- Adjuvant Treatment of Stage III Colon Cancer
- Treatment of Stage IV Colorectal Cancer
Global Oxaliplatin Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Oxaliplatin Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa