Leuprolide Acetate Market will grow at highest pace owing to rising incidences of prostate cancer
Leuprolide Acetate Market |
Leuprolide acetate, also known as Lupron, is a
gonadotropin-releasing hormone (GnRH) agonist medication used primarily in the
treatment of prostate cancer, endometriosis, uterine fibroids, and early
puberty. It works by decreasing estrogen and testosterone levels. Leuprolide
acetate provides a more effective and reliable treatment option compared to
surgery and has minimal side effects.
Global
leuprolide acetate market is estimated to be valued at USD 3.82 Billion
in 2024 and is expected to reach USD 5.81 Billion by 2031, exhibiting
a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Key Takeaways
Key players operating in the leuprolide acetate are Sun Pharmaceutical
Industries Ltd., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V.,
Ferring Pharmaceuticals, GSK (GlaxoSmithKline), Bayer AG, Pfizer Inc., Hikma
Pharmaceuticals PLC, AurobindoPharma, Amgen Inc., EMD Serono, Inc., Novartis
AG, Sandoz International GmbH, Apotex Inc., Fresenius Kabi AG, Bausch Health
Companies Inc., Hetero Labs Limited, ZydusCadila, and Cipla Limited. The rising
incidences of prostate cancer, uterine fibroids, and endometriosis have
resulted in growing demand for effective treatment options such as leuprolide
acetate injections. Technological advancements including new drug delivery
methods and long-acting formulations are further expected to drive the market
growth during the forecast period.
Market Trends
One of the key trends in the Leuprolide
Acetate Market Demand is the shift towards daily and monthly dosage
forms. Earlier, patients had to take treatments every 3-6 months, however, new
drug delivery methods have enabled once-monthly and once-daily dosage forms.
This has improved patient adherence and compliance. Another trend is the
development of new combinations. Drug makers are focusing on developing
fixed-dose combination therapies by combining leuprolide acetate with other
supportive care drugs to improve efficacy and manage side effects.
Market Opportunities
One of the major opportunities for leuprolide acetate manufacturers is
present in the untapped regions of Asia Pacific, Latin America, and Middle East
countries. With rising awareness and improving access to healthcare in these
regions, the adoption of leuprolide acetate is expected to increase
significantly during the forecast period. Additionally, the market players can
focus on developing cost-effective generic versions of leuprolide acetate to
expand market reach in low and middle-income countries. This will help treat
more patients suffering from cancer, uterine fibroids, and endometriosis.
Impact of COVID-19 on Leuprolide Acetate
Market Growth
The COVID-19 pandemic has significantly impacted the growth of the Leuprolide
Acetate Companies. During the initial outbreak in early 2020, most of
the healthcare resources were diverted towards treating COVID-19 patients which
resulted in delays and postponements of several non-essential medical
procedures and treatments. Leuprolide acetate is primarily used for treating
conditions like prostate cancer, endometriosis, and precocious puberty. As
these treatments were considered non-essential during the peak of the pandemic,
the demand for leuprolide acetate saw a decline. Additionally, strict lockdowns
and travel restrictions imposed by various governments disrupted the supply
chain of key raw materials. This caused delays in production and shortage of
leuprolide acetate supplies in the market.
However, with vaccination drives and easing of restrictions in 2021, the leuprolide
acetate market is witnessing signs of revival. Healthcare systems are resuming
normal functioning and non-essential medical procedures are being prioritized
again. This is driving up the demand for leuprolide acetate as treatments for
conditions like prostate cancer and endometriosis gain momentum. Several
pharmaceutical companies are also ramping up production capacities and
strengthening supply chain management to meet the growing needs. It is expected
that with further normalization of the healthcare sector and no major COVID-19
outbreaks, the leuprolide acetate market will stabilize and return to its
pre-pandemic growth levels by 2023. However, uncertainties still remain
regarding any future virus mutations and waves.
Geographical Regions with Highest Market
Value for Leuprolide Acetate
North America accounts for the largest share of the global leuprolide acetate
market in terms of value. This is mainly attributed to the rising prevalence of
target diseases like prostate cancer in countries like the US and Canada. In
2021, North America held approximately 38% share of the total leuprolide
acetate market value. Another factor driving the market in the region is the
advanced healthcare infrastructure and high adoption of innovative medical
therapies.
Europe is the second largest regional market for leuprolide acetate. It
captured around 30% share of the global market value in 2021 owing to factors
like increasing government funding for cancer research, growing geriatric
population susceptible to cancer and endometriosis, and presence of major
pharmaceutical companies.
Fastest Growing Regional Market for
Leuprolide Acetate
The Asia Pacific region is expected to witness the fastest growth in the
leuprolide acetate market during the forecast period from 2022 to 2028. This
can be attributed to rising healthcare expenditure, growing medical tourism
industry, increasing focus of global players on emerging Asia Pacific countries
like China and India, and expansion of treatment access to rural areas. According
to estimates, the Asia Pacific leuprolide acetate market is projected to expand
at a CAGR of over 8% and increase its value share from the current 15% to more
than 20% of the global market by 2028.
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more insights on Leuprolide
Acetate Market
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