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Dexrazoxane Market size is likely to expand at significant growth rate during the forecast period i.e., between 2024-2036. With the rising cases of cancer around the globe, there is a significant increase in medical advances in the healthcare industry owing to the fact that it has the potential to improve healthcare and is considered to be the necessary solution for the clinical practice. Thus, there is a shift in towards using dexrazoxane in healthcare which will enhance the market growth.
Growth Drivers
Upsurge In The Number Of Cancer Patients Around The Globe
According to the International Agency for Research on Cancer (IARC), a Global Observatory on Cancer that provides an estimate of the incidence and mortality of 36 kinds of cancer in 185 countries and all cancer sites integrated, stated that according to estimates, the global cancer burden increased to 18.1 million new cases and 9.6 million deaths reported in 2018. Over their lifespan, one in five men and one in six women across the world grow cancer, and one in eight men and one in eleven women die from heart disease. The cumulative number of people living within 5 years of a diagnosis of cancer, called the 5-year preponderance, is approximated at 43.8 million worldwide
As there is a rise in the number of cancer patients around the globe, the usage of anthracycline has increased thus dexrazoxane an antimitotic, immunosuppressive agent is used to reduce the toxicity. Dexrazoxane, is the razoxane enantiomorph, provides for the cardioprotection against toxicity to anthracycline. The Food and Drug Administration has approved dexrazoxane as an approved medication to be used in the prevention and reduction of the incidence and severity of cardiomyopathy caused by anthracycline all these factors are the growth drivers and this is anticipated to significantly expand the dexrazoxane market.
Challenges
High Dosage, Leading to Side Effects
Despite the growing market for the dexrazoxane, the drug might have some side effects after heavy dosage or being used by the pediatric patients which may lead to leukopenia, granulocytopenia, and thrombocytopenia and is likely to hamper the growth of the market.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Regional Scope |
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The dexrazoxane market is segmented by product, and by end-user. In the product type, it is segmented into 250mg and 500mg. By the end-user type, it is segmented into hospitals and drugstores. Among these, the hospital segment is likely to have the largest CAGR over the forecast period owing to the fact that many cancer operating hospitals have their own pharmacies or medicine outlets and hence they deliver the drug straight without going to the drugstore.
Our in-depth analysis of the global market includes the following segments
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By Product Type |
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By End User |
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Based on regional analysis, the dexrazoxane market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is poised to hold largest revenue share by 2036, owing to native presence of more advanced institutions for cancer treatments, successful implementation of dexrazoxane in the medical field, improved healthcare facilities. Latin America is predicted to exhibit vital growth within the dexrazoxane market over the forecast period. Additionally, government initiatives to improve healthcare by the formation of enticing policies in countries like China and India are predicted to spice up the dexrazoxane business, which is predicted to considerably contribute towards the expansion of the dexrazoxane market throughout the forecast period.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
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