Market Size of Granisetron Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
