The global platinum-based cancer drug market size was valued at US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY % during the forecast period (2021-2028).
Platinum-based medicines such as cisplatin, carboplatin, and oxaliplatin are commonly used in cancer chemotherapy. Following uptake of the medication into the nucleus of cells, platinum–DNA adducts activate various cellular mechanisms that mediate the cytotoxicity of these platinum medicines.
The factors which are expected to drive the global platinum-based cancer drug market are increasing use of platinum-based cancer drug in treatment of lung, breast, ovarian, and colon cancers. And its increased use in chemotherapy procedures is expected to drive the market growth.
Increasing use of platinum-based cancer drug in treatment of lung, breast, ovarian, and colon cancers is expected to drive the market
Chemotherapy is considered standard therapy in patients with locally advanced non-small-cell lung cancer who are not candidates for radiotherapy, as well as those with metastatic non-small-cell lung cancer who have a favourable prognosis. Lung cancer has the greatest mortality rate of any major cancer in the developed world, killing an estimated 1 million people each year. When breast cancer has gone beyond the breast and adjacent lymph nodes, it is known as metastatic breast cancer. Even though metastatic breast cancer is rarely treatable, it is widely believed that women with metastatic disease should get some kind of chemotherapy to assist alleviate the intensity of disease symptoms and, perhaps, extend survival time. Platinum-based chemotherapy is known to be effective in the treatment of a variety of cancers, including lung, testicular, head and neck, bladder, and ovarian cancers, but it is also known to have more side effects (such as nausea and vomiting, hair loss, anaemia, kidney damage, and leukopenia (low white Oxaliplatin cells)) than other types of chemotherapy. Chemotherapy for ovarian cancer usually entails combining two different types of medicines. As an initial treatment for ovarian cancer, getting a combination of medications rather than just one drug seems to function better. A platinum component (typically cisplatin or carboplatin) and a taxane, such as paclitaxel (Taxol) or docetaxel (Taxotere), are usually included in the combination. Every 3 to 4 weeks, these medications are normally given as an IV (into a vein).
Increased use of platinum-based cancer drugs in chemotherapy procedures is assumed to drive the market growth in the forecast period
Chemotherapy can reduce a tumour enough for additional treatments like radiation and surgery to be considered. This is referred to as neoadjuvant therapy by doctors. To reduce the severity of signs and symptoms. Chemotherapy may assist to alleviate cancer symptoms by killing some cancer cells. Platinum-based compounds are key cancer chemotherapeutic medicines or medication prospects. Because a platinum atom is connected to two ammonion molecules and two chloride ions, platinum-based medications are effective against cancer. The chemical is negatively charged, but when it enters a cancer cell, the chloride ions are replaced by water molecules, and it becomes positively charged. Traditional platinum medicines, such as cisplatin, carboplatin, and oxaliplatin, are neutral platinum (II) complexes containing two amine ligands and two extra ligands that can be aquated for increased DNA binding. Platinum-DNA adducts can obstruct cellular processes and cause apoptosis.
Resistance to platinum medicines in tumours has become a difficult problem to solve. Individualized cancer treatment that employs a variety of ways to overcome platinum-drug resistance in cancer patients is critical. Traditional platinum drug structural alteration, platinum drug combination therapy with additional agents, and enhanced platinum drug transport to tumour locations are some of the key strategies established to address difficulties with traditional platinum drug chemotherapy.
Side-effects related to platinum-based cancer drugs is expected to hamper the market growth
While the platinum-based medicines cisplatin, carboplatin, and oxaliplatin are useful in the treatment of cancer, their use is limited due to their severe, dose-limiting side effects (also known as adverse effects/events). A cancer patient may have any of roughly 40 different side effects in total. Nephrotoxicity is the dose-limiting side effect for cisplatin, myelosuppression is the dose-limiting side effect for carboplatin, and neurotoxicity is the dose-limiting side effect for oxaliplatin. Antiemetics, antibiotics, and myeloid growth factors, mannitol, propafenone, saline hyperhydration, magnesium supplements, monoclonal antibody cytokine blockers, and analgesics are all used to manage adverse effects.
Anticancer therapy-related neurologic problems might arise directly from toxic effects on the nervous system or indirectly from drug-induced metabolic or cerebrovascular diseases. Antineoplastic medication treatment is linked to a wide spectrum of neurologic problems. Peripheral neuropathy, ototoxicity (hearing impairment and tinnitus), vestibulopathy, and encephalopathy are all examples of cisplatin-induced neurotoxicity; peripheral neuropathy and ototoxicity are the most prevalent.
COVID-19 Impact Analysis
COVID-19 has affected the healthcare industry moderately. To stop its spread, government-imposed lockdown. People are fearful they may experience occupational effects and negative health from the COVID-19 pandemic. On March 22, 2020, a PAUSE order was issued in New York State, and social distancing obliged the cancer centre to lower its occupancy, even for chemotherapy patients. Medical societies have issued timely guidelines that mostly address the sequencing of multimodality treatments, leaving chemotherapy treatment decisions for individual patients to individual clinicians.The treatment procedures was reduced during the pandemic due to the fear of COVID. This has moderately affected the global platinum-based cancer drug market due to limitations to avoid transmission of COVID.
Segment Analysis
Cisplatin segment is expected to dominate the global platinum-based cancer drug market
Cisplatin is a chemotherapy medication that is most used to treat testicular cancer. It's also used to treat a variety of different malignancies, such as lung, bladder, cervical, and ovarian tumours. Cisplatin and other platinum-based medications like it were created with the help of the National Cancer Institute (NCI). The goal of ongoing research is to develop cisplatin-based treatments and related platinum-based medications that are less toxic and/or simpler to accept. In addition to cisplatin, analogues such as carboplatin and oxaliplatin are now being tested in clinical trials. Patients who initially react to cisplatin therapy, on the other hand, frequently develop resistance to the medicine over time. Due to dose-limiting toxicity, particularly nephrotoxicity, and tumour cell resistance to cisplatin, the efficacy of cisplatin therapy is jeopardised. It's possible that cellular resistance to cisplatin is either inherent or acquired. Traditional chemotherapy remains the most common treatment choice, despite substantial advances in drug research and molecular-targeted therapy. Cisplatin has been one of the most widely utilised anticancer medications for more than three decades. The United States Food and Drug Administration (FDA) approved carboplatin as the only platinum-based chemotherapy drug for the treatment of breast cancer. Platinum-based chemotherapy weakens or kills breast cancer cells by destroying their genetic material and making it difficult for them to repair any damage.
Hikma Pharmaceuticals PLC launched Cisplatin Injection, 1mg/mL in 50mL and 100mL vials, in the United States via its US affiliate, Hikma Pharmaceuticals USA Inc.
Geographical Analysis
North America region accounted for the largest market share in the global platinum-based cancer drug market
The North America region is expected to dominate the market growth due to high prevalence of cancer disease rate in this region and the recent FDA approvals.
According to National Cancer Institute in the United States, a projected 1,806,590 new cases of cancer were identified in 2020, with 606,520 people dying from the disease. And according to American Cancer Society numbers of new cancer cases and fatalities expected in 2021 are 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States.
In the United States via its US affiliate, Hikma Pharmaceuticals USA Inc. launched Cisplatin Injection, 1mg/mL in 50mL and 100mL vials.
On September 15th, 2021, Takeda Pharmaceutical Company Limited received US Food and Drug Administration (FDA) approval for EXKIVITY (mobocertinib) for the treatment of adult patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) who have epidermal growth factor receptor (EGFR) exon 20 insertion mutations as detected by an FDA-approved test, whose disease has progressed on or after platinum-based chemotherapy.
The global platinum-based cancer drug market is highly competitive. The factors driving the key players are the increasing incidence of cancer and the increasing FDA approvals.
Some of the key players in the global platinum-based cancer drug market are Accord Healthcare, Novartis, Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Jiangsu Hengrui Pharmaceutical Co., Ltd, Debiopharm Group, Pfizer, Inc., Mylan N.V, Sanofi and Bristol-Myers Squibb Company
Pfizer, Inc.
Overview: Pfizer is a leading biopharmaceutical company with a strong research foundation. They use research and their global resources to develop novel therapeutics that help people live longer and better lives. Every day, Pfizer employees in developed and emerging markets work to improve wellness, prevention, treatments, and cures for the world's most feared diseases.
Product Portfolio: Pfizer oncology is dedicated to discovering, researching, and developing revolutionary treatments that help cancer patients throughout the world. The company’s pipeline includes biologics, small compounds, immunotherapies, and biosimilars, is focussed on studying a wide range of treatments across many tumour types and is one of the most robust in the business.
Key Development: On August 23,2021, Pfizer Inc. and Trillium Therapeutics Inc. had a definitive agreement according to which Pfizer acquired Trillium, a clinical-stage immuno-oncology business researching novel cancer medicines.
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