Gemcitabine Hydrochloride Market Size

Gemcitabine Hydrochloride Market Analysis

The Gemcitabine Hydrochloride Market is expected to register a CAGR of 7.1% during the forecast period.

COVID-19 pandemic had a substantial impact on patients with underlying diseases; gemcitabine was shown to have both anti-cancer and anti-viral activity. For instance, the NCBI article published in February 2021 suggested that gemcitabine's difluoro group is essential for the antiviral action and its combination with other antiviral medications that have been studied, including remdesivir, may be a desired alternative for treating SARS-CoV-2 infection. Thus, such potential benefits of gemcitabine had a notable impact on the demand for gemcitabine hydrochloride, ultimately impacting the market growth during the pandemic period. In addition, the demand for gemcitabine is expected to remain intact during the post-pandemic period, thereby contributing to the market's growth over the forecast period.

The gemcitabine hydrochloride market is expected to grow during the forecast period due to the significantly increased prevalence of cancer prevalence globally owing to the rising usage of gemcitabine with other drugs in the treatment of cancer. Further, increased awareness about cancer and patient support programs are among the major factors driving the growth of the studied market. According to the World Health Organization factsheet published in February 2022, in 2021, an estimated 1.9 million new cancer cases were diagnosed in the United States. The report also mentioned that each year, approximately 400,000 children develop cancer globally. Cervical cancer is the most common in 23 countries, such as Eswatini, India, South Africa, Latin America, and others. The most common cancers are breast, lung, colon and rectum, and prostate cancers. Thus, the high burden of cases of cancer is generating the demand for effective treatment options such as gemcitabine owing to the potential usage with other drugs in the treatment of cancer, thereby contributing to the growth of the market over the forecast period.

Additionally, the increasing product developments by key market players and product approvals are expected to contribute to the market's growth. For instance, in September 2022, Syros Pharmaceuticals received FDA orphan drug designation for the product SY-5609, a CDK7 inhibitor, in combination with chemotherapy for patients with relapsed metastatic pancreatic cancer. The clinical initiated regarding the product, the participants are assigned to SY-5609 plus gemcitabine at approved doses. Therefore, owing to the aforementioned factors, such as rising cancer cases, increasing demand for effective therapeutics, along with increasing product developments, the studied market is anticipated to witness growth over the analysis period. However, the stringent regulatory framework is likely to impede the market growth.