Methotrexate Drug Market To Witness Astonishing Growth Owing To Rising Prevalence of Target Diseases
Research Nester published a report titled “Methotrexate Drug Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the Methotrexate Drug market in terms of market segmentation by type, by route of administration, by application, by end-users, by distribution channel, and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Methotrexate is an FDA approved drug used for treating diseases such as cancer, autoimmune illnesses, ectopic pregnancy, and others. It’s widely preferred as a chemotherapy agent owing to its less harmful properties. The rising numbers of patients concerned with the above-mentioned diseases are contributing majorly towards the drug’s market growth.
The methotrexate drug market is projected to witness an achievable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, route of administration, application, end-users, distribution channel, and region. Among distribution channel segmentation, the hospital pharmacies segment is anticipated to expand significantly during the forecast period owing to growing numbers of target disease patients globally.
Regionally, the methotrexate drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The methotrexate drug market in the North-America region is expected to hold a dominant market share on account of the growing occurrence of chronic diseases such as cancer, large-scale investments for refining medical amenities and healthcare sector. Additionally, the growing awareness regarding the target ailments, leading to various campaigns and social media groups, will also steer the growth in the forecast period.
The European region is anticipated to hold the second-largest market share in the methotrexate drug market after North America on account of rising government spending on healthcare facilities in the region.
The Asia-Pacific region is estimated to witness the fastest growth during the forecast period owing to the growing demand for methotrexate drug in the emerging markets, expansion in healthcare expenditure, infiltration of leading companies into the market, ever-growing population, and an upsurge in disposable income.
The market in Latin America and the Middle East and Africa is anticipated to hit scalable heights in the next few years on account of sincere efforts made by the governments of these regions to encourage the use of medications and spread the awareness about the health disorders.
The rise in the prevalence of target diseases globally is expected to drive the market growth.
A rising number of patient pool diagnosed with cancer, autoimmune diseases, ectopic pregnancy, and medical abortions are contributing significantly towards the overall market growth as they nurture a growing consumption of the drug.
The International Agency for Research on Cancer (IARC), a part of WHO, released its latest cancer estimates on September 12, 2018, which states that the global cancer burden is projected to have risen to 18.1 million new cases and 9.6 million demises in 2018.
Additionally, a rise in disposable earnings, a surge in healthcare overheads in developing economies, initiatives by various government and private organizations to spread awareness related to cancer and cancer survivors, and awareness form ethotrexate drug treatment therapies is likely to drive the market.
However, stringent government regulations in certain countries, lack of awareness, slow recognition of the disease, and high costs incurred in the treatments might also contribute as growth constraints that might hinder the growth of the overall methotrexate drug market.
This report also provides the existing competitive scenario of some of the key players of the methotrexate drug market which includes company profiling of Apotex Inc., Amneal Pharmaceuticals LLC. (NYSE: AMRX), Teva Pharmaceutical Industries Ltd. (TLV: TEVA), Pfizer Inc. (NYSE: PFE), Silvergate Pharmaceuticals, Inc., Par Pharmaceutical (NASDAQ: ENDP), Hikma Pharmaceuticals PLC, LingNan Pharmaceutical, Sichuan Huiyu Pharmaceutical Co. Ltd, and Get Well Oncology Pvt Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the methotrexate drug market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies accordingly to the ongoing and expected trends in the future.