Hydroxycarbamide Market Size, Share & Industry Analysis, By Type (Capsule, Tablet, Other), By Application (Sickle-Cell Disease, Cancer, Others)and regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Hydroxycarbamide, also known as hydroxyurea is a medication used in sickle-cell diseases, cervical cancer, thrombocythemia, and other neoplasmic conditions. It works by reducing the production of deoxyribonucleotides by inhibiting the enzyme ribonucleotide reductase. In treatment of sickle-cell disease it increases the concentration of fetal haemoglobin. It acts as an DNA disruptor, similar to other anti-metabolite, anti-cancer drugs
Increasing demand from medical sector as an anti-cancer drug is expected to drive the market. The widespread range of applications in medical sectors like anti-sickling agent, anti-neoplasmic agent, nucleic acid synthesis inhibitor, enzyme inhibitor and others is likely to raise the demand for hydroxycarbamide.
However, there are certain side-effects associated with the use of hydroxycarbamide which include neurological disorders, nausea, diarrhea, anorexia, bone-marrow toxicity and others. This is expected to limit the market growth for hydroxycarbamide.
Key Market Driver -
Increasing demand from medical sector.
Key Market Restraint -
Side effects of Hydroxycarbamide.
Market Segmentation:
Based on type, the global hydroxycarbamide market is segmented into capsule and tablet. Based on application, is segmented into sickle cell disease, cancer, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global hydroxycarbamide market consists of global & regional players operating. Some of the key players in the market include Bristol Myers Squibb, Beijing Jialin Pharma, Teva Pharma, Zydus Cadila, Par Pharma, Alkem (Cytomed), VHB Life Sciences, Samarth Pharma, Taj Pharma Qilu Pharmaceutical, Cipla, United Biotech, and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Hydroxycarbamide Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share in the market due to the developing healthcare and medical sector. Asia Pacific is estimated to show significant growth due to the increasing rate of cancer in population. For instance, Australia had the largest number of cancer rate in 2019. Europe is expected to show considerable growth attributed to the advanced medication treatment for sickle cell diseases and cancer. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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Segmentation
ATTRIBIUTE | DETAILS |
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Hydroxycarbamide Industry Developments
- In July 2016, the Angola’s sickle-cell initiative taken by Angola ministry of health, Texas children’s hospital, Baylor College of Medicine International Pediatrics AIDS initiative, Chevron and Bristol Myers Squibbs provided the effective medication for children with sickle cell disease in countries with lack of access to medications.
- Ongoing
- 2023
- 2019-2022
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