BORTEZOMIB MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Bortezomib, commonly known as Velcade, is a proteasome inhibitor that acts as a targeted cancer therapy. It has proven to be an effective treatment option for multiple myeloma and other cancers. Increasing prevalence of cancer worldwide along with growing geriatric population susceptible to myeloma can boost demand for Bortezomib. Drug being designated with orphan drug status has encouraged manufacturers to invest in this market. However, patent expiry of the drug can hamper the market growth. Promising therapeutic efficacy and expanding applications of Bortezomib can offer lucrative opportunities for the global bortezomib market growth in the near future.
Market Dynamics:
Global bortezomib market growth is driven by rising cancer burden globally. The market growth can be attributed to increasing incidence rates of multiple myeloma, approval for additional indications, and expanding geriatric population base who are more prone to developing myeloma. As per the National Cancer Institute, more than 150,000 cases of multiple myeloma were reported in the US in 2020. High treatment and R&D costs associated with Bortezomib can hamper the market growth. Patent expiry of innovative drug between 2015 to 2020 has encouraged production of generic versions, and this can negatively impact the sales of branded Velcade. However, ongoing trials evaluating the potential of Bortezomib in other disease indications can present new opportunities.
Key features of the study:
- This report provides in-depth analysis of the global bortezomib market, and provides market size (USD Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global bortezomib market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Johnson & Johnson, Takeda Pharmaceutical Company Ltd, Fresenius SE & Co. KGaA, Dr. Reddy's Laboratories Ltd, and Scion Pharma LLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global bortezomib market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global bortezomib market
Detailed Segmentation-
Detailed Segmentation-
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