Global osimertinib drug market It is projected to increase from US$4,828.6 million in 2021 to US$11,829.8 million by 2027. The market is growing at a CAGR of 16.1% during the forecast period 2022-2027. Based on volume, the market is registering a CAGR of 15.4% during the forecast period.
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A receptor tyrosine kinase inhibitor called osimertinib has shown potential in the treatment of some cancers. When used as directed, this drug has been shown to be safe and effective and is currently used to treat small cell lung cancer. The drug osimertinib has seen a sharp increase in demand in recent years due to promising therapeutic results observed in cancer patients. This development is believed to be a result of the drug’s low cost, acceptable side effects when used as directed, and increased public awareness of the drug’s potential benefits.
The researchers concluded that osimertinib’s special ability as a dual tyrosine kinase inhibitor contributed to the high demand for the drug. Osimertinib is effective against tumors including ALCL, non-small cell lung cancer (NSCLC), and other cancers. Osimertinib is a better treatment option for some people because it does not require radiation or surgery.
Factors driving global market growth
Osimertinib is increasingly favored among NSCLC patients for a variety of reasons.
First, compared to other medicines available to patients, osimertinib has a relatively low risk of side effects.
Second, when combined with other treatments such as radiotherapy and chemotherapy, osimertinib has shown little or no side effects, if any, in clinical trials. Cell lung cancer is treated with the drug osimertinib. Furthermore, lung cancer is the leading cause of nearly 25% of cancer-related deaths in women and men. Lung cancer is divided into non-small cell lung cancer and small cell lung cancer.
Finally, osimertinib is also affordable compared to other drugs on the market.
Low efficacy: Osimertinib has a low efficacy rate and very few patients benefit from treatment. This shows that despite the great demand for medicines, not enough people have access to them. Often, only radiation therapy or chemotherapy remains.
Lack of knowledge: Osimertinib and its benefits are largely unknown to patients and physicians. Therefore, even if they are aware of this treatment option, they are unlikely to use it. An additional barrier for people trying to obtain these drugs is that insurance companies often do not cover them.
Research on the COVID-19 Pandemic
The impact of COVID-19 on the global osimertinib market was positive. The companies confirmed that sales of the oncology drug increased significantly during COVID-19 as it is one of the most effective treatments for lung cancer. Coronavirus is an infectious disease caused by a coronavirus that affects lung health and causes severe acute respiratory syndrome. Osimertinib (Tagrisso), which treats lung cancer and improves survival and quality of life, has become even more important due to COVID-19. But with global curfews, a strained supply he chain, and a shortage of raw materials, the company faced a number of challenges.
North America is a major consumer of lung cancer drugs such as osimertinib. In fact, this region accounts for his 40% of global market revenue. In 2021, the drug will earn her US$237.2 million as lung cancer is the leading cause of cancer deaths in men and women in North America. In North America, by 2025, lung cancer will account for nearly 25% of all cancer cases, according to the American Cancer Society.
More than 540,000 Americans now have lung cancer, and more than 238,000 are diagnosed with the disease each year. In addition, drug cancers claim the lives of approximately 130,180 Americans each year. According to our research, the United States spent approximately US$147.5 billion on cancer treatment. Of that, more than US$13.5 billion is spent annually on lung cancer. US manufacturers of the drug osimertinib currently have tremendous potential. Lung cancer drugs are expensive and require a doctor’s prescription. The American Cancer Society predicts that lung cancer will cost him $18.1 billion in 2025.
Due to the high prevalence of cancer in India and China, the Asia-Pacific region is likely to expand with the highest growth rate of over 20% in the next few years. China alone has more than half of the world’s lung cancer patients. Pharmaceutical manufacturers can expand their operations in the region by producing osimertinib.
AstraZeneca, Incepta Pharmaceuticals Limited, Everest Pharmaceuticals, Beacon Pharma, and Drug International are some of the key players in the osimertinib pharmaceutical market. Through in-depth research, it was found that major competitors are using various competitive techniques such as mergers and acquisitions to dominate developing markets. Prominent companies are also acquiring local and smaller brands to expand their local reach.
Summary of segmentation
Overview of type segments
In 2021, the 40mg segment will dominate the global osimertinib pharmaceutical industry, reaching a revenue of USD 8.5 billion by 2027, registering favorable annual growth over the forecast period. To take this tablet effectively, patients should take it with water and swallow it whole, without chewing or crushing it.
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Application segment overview
The hospital market accounted for the largest share of the global osimertinib pharmaceutical market in 2021 and is projected to develop at a profitable rate during the forecast period. Hospitals fill the majority of prescriptions for drugs used to treat lung cancer, including osimertinib. Because we are also the primary users of these products.
In fact, hospitals use more than 80% of all prescribed drugs to perform pneumonectomy. Most of these drugs are used to treat advanced lung cancer. Hospitals have shown a significant increase in demand for osimertinib since it was approved for the treatment of cancer. In hospitals, osimertinib has been successfully used to treat many cancers, including lung cancer. Osimertinib is in high demand because it is a targeted drug that specifically kills cancer cells. Because cancer cells can resist conventional drug therapies such as chemotherapy, doctors are constantly looking for new ways to treat cancer patients.
Segment by type
By application segment
By geographic segment
- North America
- rest of europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of the MEA
- South America
- Rest of South America
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