Market Trends of Peptide and Anticoagulant Drugs Industry
Cancer Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Cancer is a disease in which some of the body's cells grow uncontrollably and spread to other body parts. The increasing prevalence of cancer worldwide and the rising R&D for better oncology drugs are the major factors expected to boost segmental growth during the forecast period.
For instance, according to a report published by PubMed Central in March 2022, 274,488 new cancer cases and 81,277 cancer deaths were expected in South Korea in 2022. The most common cancer types were expected to be thyroid cancer, followed by lung cancer, colon and rectum cancer, breast cancer, and stomach cancer. These five types of cancer are expected to represent half of the overall burden of cancer in South Korea. The most common type of cancer leading to death is expected to be lung cancer, followed by liver, colorectal, pancreatic, and gallbladder cancers. Thus, the rising prevalence of cancer is expected to boost the usage of peptide drugs.
According to the bi-annual report published by the Indian Council of Medical Research (ICMR) in December 2022, the national average of cancer cases in 2022 in India was 100.4 per 100,000, with a large number of women (an estimated 105.4 per 100,000) being diagnosed with breast cancer. The source also stated an estimated 182,000 people are living with breast cancer in India, which is expected to reach 250,000 by 2030. Thus, due to the country's high burden of breast cancer, the demand for peptide drugs is expected to increase, which will drive the growth of the studied market.
According to the data published by the NIH in May 2022, research funding for cancer in the United States was expected to increase from USD 7,362 million in 2021 to USD 7,644 million in 2022. Thus, the rising R&D expenses for cancer are expected to boost segmental growth.
Hence, factors such as the rising prevalence of cancer and the growing R&D expenses for cancer are expected to drive the segment during the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant share of the peptide and anticoagulant drugs market throughout the forecast period due to the increasing necessity of drugs for cancer, increasing prevalence of cardiovascular disorders and other diseases, and high demand for peptide and anticoagulant drugs. The United States holds the largest market share in the North American region due to factors such as the increasing burden of cancer and the increasing prevalence of cardiovascular disorders, which is anticipated to stimulate the demand for peptide and anticoagulant drugs.
The rising prevalence of various cancer in the region is stimulating the market's growth. For instance, as per the Canada Cancer Society's statistics for 2022, around 6,700 Canadians were diagnosed with leukemia in 2021, out of which 4,000 were men and 2,700 were women. As per the American Cancer Society's data for 2023, around 59,610 new cases of leukemia and 20,380 new cases of acute myeloid leukemia (AML) are estimated to be diagnosed in the United States in 2023. Thus, the high incidence of cancer cases is leading to an increase in hemato oncology testing, thereby driving the market in the region.
According to an article published by the Heart and Stroke Foundation of Canada in February 2022, in Canada, 750,000 people were living with heart failure in 2022, and 100,000 people are diagnosed with this incurable condition each year. The source also stated that heart failure affects one in three Canadians, either because they have it themselves or because it affects a family member or close friend. Thus, the country's high burden of cardiovascular diseases is expected to boost the market's growth.
The rising developments by major market players are also expected to drive the market. For instance, in June 2021, the US FDA approved Pradaxa (dabigatran etexilate), an oral anticoagulant drug. The drug is used to treat children three months to under 12 years old with venous thromboembolism (a condition where blood clots form in the veins) directly after being treated with a blood thinner given by injection for at least five days.
Thus, factors such as the rising prevalence of cancer and other metabolic disorders and the rising developments by key market players are expected to drive the market in the region.
