Granisetron Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Fastest Growing Market||Asia-Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Granisetron Market Analysis
The granisetron market is expected to register a CAGR of 6.2 % over the forecast period.
The sudden outbreak of the COVID-19 pandemic significantly impacted the growth of the market over the pandemic period. COVID-19 primarily affected the supply chain of the granisetron market in terms of the availability of raw materials and supplies, transportation delays, and prices. Nationwide lockdowns and social distancing measures have reduced patient visits for anti-cancer treatment significantly. For instance, as per an article published in JAMA Network in February 2022 mentioned that reductions in cancer healthcare utilization during the initial stages of the pandemic have been identified both domestically and internationally. 88.2% of cancer care centers reported facing challenges in delivering care during the pandemic. Such a reduction in cancer had an impact on the granisetron market during the pandemic period. However, the resumption of cancer care treatments during the post-pandemic period is expected to drive the growth of the market over the forecast period.
The key factors propelling the market are the rise in chemotherapy and radiotherapy visits along with the increasing prevalence of gastroparesis. The rising burden of cancer will propel chemotherapy and radiotherapy visits, which is expected to drive market growth significantly.
As per the NCBI study published in December 2021, the granisetron transdermal system (GTDS) provided an innovative, effective, and well-tolerated control of chemotherapy-induced nausea and vomiting with an effective rate of 39.77%. Therefore, the studies evaluating the efficacies of GTDS will significantly increase its adaptability, which will propel market growth. The study indicates that granisetron is used to address the symptoms of chemotherapy which is given to cancer patients. Therefore, the growing burden of cancer across the globe will ramp up the production of granisetron which will boost the market. Also, as per the World Health Organization factsheet published in February 2022, in 2021, there were an estimated 1.9 million new cancer cases 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. Breast cancer is common among women whereas lung and prostate cancer is common among men. Thus, the high prevalence of the diseases globally will positively impact granisetron manufacturing and consumption, thus driving market growth over the forecast period.
Additionally, the NCBI study published in National Center for Biotechnology Information and updated in December 2021, suggested that Granisetron, a 5-HT3 antagonist, administered as a transdermal patch, has improved gastroparesis symptoms of nausea and vomiting. Thus, the studies evaluating the efficacies for treating symptoms of gastroparesis will boost the administration of granisetron, which is expected to fuel market growth.
Thus, due to the above-mentioned factors, the studied market is expected to grow significantly during the study period. However, the adverse effects of granisetron are expected to hinder market growth.
Granisetron Market Trends
The Injection Segment is expected to witness significant growth in the market
Granisetron hydrochloride injection is a serotonin-3 (5-HT3) receptor antagonist indicated for the prevention of nausea and vomiting associated with initial and repeat courses of emetogenic cancer therapy, including high-dose cisplatin. The recommended dosage for granisetron hydrochloride injection in adults is 10 mcg/kg whereas the recommended dose in pediatric patients 2 to 16 years of age is 10 mcg/kg. When granisetron is used to prevent nausea and vomiting caused by cancer medicines (chemotherapy), it is usually given 30 minutes before the start of chemotherapy. However, when used to prevent and treat nausea and vomiting caused by surgery, it is usually given 30 seconds before anesthesia or right after surgery if nausea and vomiting begin.
As per the NCBI study published in September 2021, suggested that the use of subcutaneous granisetron reduced the total per-patient costs of care associated with unscheduled hydration compared with palonosetron in patients receiving emetogenic chemotherapy for breakthrough chemotherapy-induced nausea and vomiting events. Thus, the studies indicating the cost effectiveness of using granisetron over other alternatives will increase its demand, which will drive the segmental growth. Furthrmore, according to the NCBI study published in April 2021, granisetron injection decreased the sensitivity to mechanical stimuli and increased the sensitivity to heat indicating that granisetron injection can be considered a novel candidate for local anesthetics. Thus, the expanded use of granisetron injection will also lead top lucrative growth of the market.
Thus, due to the above-mentioned factors, the studied market is expected to grow significantly during the study period.
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North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is the most affected region across the world, with a high prevalence of cancer. The United States is expected to hold a notable share in the North American region in the terms of cancer burden. With the rising prevalence of cancer and gastroparesis in the country, the studied market is expected to witness significant growth in the region.
According to the American Cancer Society, in 2022, there were an estimated 1,918,030 new cases of cancer in the United States, and 609,360 deaths were notified in the year 2022. In addition, according to the Public Health Agency of Canada data published in October 2021, approximately 2 in 5 Canadians were diagnosed with Cancer in their lifetime, and in 2021, an estimated 229,000 Canadians were diagnosed with Cancer. The report also mentioned that lung, breast, colorectal, and prostate cancers were expected to remain the most commonly diagnosed cancers, accounting for nearly 46% of all cancer diagnoses in 2021. The high incidence of cancer indicates the increasing patient visits for chemotherapy and radiotherapy, thereby increasing the demand for granisetron for addressing the symptoms thereby leading to positive growth of the market.
Furthermore, according to an NCBI study published in January 2021, the late phase of cycle 1 showed that transdermal granisetron was 82% more likely to control chemotherapy-induced nausea and vomiting than oral ondansetron, therefore preventive antiemetic medication for gynecologic cancer survivors undergoing chemoradiation should be taken into consideration. The studies, highlighting the clinical efficacies and safety of granisetron, which is expected to fuel market growth in the future.
Thus, the aforementioned factors are anticipated to lead to significant growth of the market in the region during the study period.
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Granisetron Industry Overview
The Granisetron market is moderately fragmented in nature due to the presence of several companies operating globally as well as regionally and major players in the market are Kyowo Kirin Co., Ltd., Heron Therapeutics, Fresenius SE & Co. KGaA, Hikma Pharmaceuticals and Viatris among others.
Granisetron Market Leaders
Kyowa Kirin Co., Ltd.
Heron Therapeutics, Inc.
Hikma Pharmaceuticals PLC
Fresenius SE & Co. KGaA
*Disclaimer: Major Players sorted in no particular order
Granisetron Market News
- In March 2022, Acino acquired six South African prescription medicines from Aspen Pharmacare Holdings Limited for over EUR 105 million including Aspen Granisetron brand.
- In January 2022, Cumberland Pharmaceuticals Inc. entered into an agreement to acquire the FDA-approved oncology-supportive care medicine SANCUSO (granisetron transdermal patch), from Kyowa Kirin, Inc. the U.S. affiliate of Japan-based Kyowa Kirin Co., Ltd.
Granisetron Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Chemotheraphy and Radiotherapy Visits
4.2.2 Increasing Incidence of Gastroparesis
4.3 Market Restraints
4.3.1 Adverse Effects of Granisetron
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product Type
5.1.1 Transdermal System
5.2 By Application
5.2.2 Post Operative
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Kyowa Kirin Co., Ltd.
6.1.2 Heron Therapeutics, Inc.
6.1.3 Fresenius SE & Co. KGaA
6.1.4 Hikma Pharmaceuticals PLC
6.1.5 Cipla Inc.
6.1.8 Natco Pharma
6.1.9 Dr. Reddy's Laboratories Ltd.
6.1.10 Akorn Operating Company LLC
6.1.11 Merck KGaA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Granisetron Market Research FAQs
What is the current Granisetron Market size?
The Granisetron Market is projected to register a CAGR of 6.2% during the forecast period (2023-2028).
Who are the key players in Granisetron Market?
Kyowa Kirin Co., Ltd., Heron Therapeutics, Inc., Viatris, Hikma Pharmaceuticals PLC and Fresenius SE & Co. KGaA are the major companies operating in the Granisetron Market.
Which is the fastest growing region in Granisetron Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Granisetron Market?
In 2023, the North America accounts for the largest market share in the Granisetron Market.
Granisetron Industry Report
Statistics for the 2023 Granisetron market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Granisetron analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.