Global Bortezomib Market – Industry Trends and Forecast to 2030

Bortezomib Market Analysis and Size

The rise in the prevalence of lymphoma, mantle cell lymphoma, and multiple myeloma and growing healthcare expenditure are the major factors influencing the market growth rate. Furthermore, advancements in medical technology, increasing investments in R&D activities, and raising awareness are the factors that will expand the bortezomib market. Also, the rising geriatric population, along with increasing incidences of cancer, will cushion the market growth rate.

Data Bridge Market Research analyses that the market, which was USD 23.53 million in 2022, would rocket up to USD 40.65 million by 2030 and is expected to undergo a CAGR of 4.5% during the forecast period. “1mg” dominates the type segment of the market owing to the high usage of this type of disease. In addition, the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Bortezomib Market Scope and Segmentation

Market Definition

Bortezomib is a drug that is used to treat multiple myeloma (a type of cancer of the bone marrow). Bortezomib is also used to treat mantle cell lymphoma patients (a fast-growing cancer that begins in the cells of the immune system). Bortezomib belongs to the antineoplastic agent class of drugs. It functions by destroying cancer cells.

Bortezomib Market Dynamics

Drivers

• Rise in the prevalence of lymphoma, mantle cell lymphoma, and multiple myeloma

The growing prevalence of lymphoma and other various types is among the essential factors intensifying the growth and demand for the market. This, in turn, has carved the way for the market's growth.

• Research and development proficiencies

Rising expenditure for research and development proficiencies, especially in developed and developing economies, about medical drugs and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted to formulate medical drugs also bolstered the market growth rate.

• Growing investment in healthcare facilities

Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering market growth. The rising number of partnerships and strategic collaborations between the public and private players about funding and application of new and improved technology further creates lucrative market opportunities.  

Opportunities

• Upsurge in the public-private funding

Furthermore, an upsurge in the public-private funding for target research activities, rising research and development activities and ongoing clinical trials, and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. Likewise, the rise in worldwide healthcare expenses will further provide potential opportunities for the growth of the Bortezomib market in the coming years.

Restraints/Challenges

• Side effects associated with bortezomib

On the other hand, the high cost of the product and side effects associated with bortezomib, such as fatigue, nausea, vomiting, constipation, fever, low platelet count, anxiety, and shortness of breath which is further projected to impede the growth of the Bortezomib market in the timeline period and dearth of awareness in the backward economies are expected to obstruct market growth. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies and the lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.

This bortezomib market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bortezomib market, contact Data Bridge Market Research for an Analyst Brief, and our team will help you make an informed market decision to achieve market growth.

Recent Development

• Takeda Pharmaceutical Company Limited announced in May 2021 that the U.S. Food and Drug Administration (FDA) approved a new subcutaneous (SC) formulation of VELCADE® (bortezomib) for injection to treat patients with multiple myeloma
• Pfizer Inc. announced in April 2021 that the FDA approved a new dosing regimen for BAVENCIO® (avelumab) in combination with INLYTA® (axitinib) for the first-line treatment of patients with advanced renal cell carcinoma (RCC).

Global Bortezomib Market Scope

The bortezomib market is segmented on the basis of types, application, dosage, route of administration, end users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

 Types

• 1mg
• 3.5mg
• 5mg
• Others

Application

• Lymphoma
• Mantle Cell Lymphoma
• Multiple Myeloma
• Others

Dosage

• Tablet
• Injection
• Powder
• Others

Route of Administration

• Oral
• Intravenous
• Subcutaneous
• Others

End Users

• Clinic
• Hospitals
• Others

Distribution Channel

• Retail Pharmacy
• Hospital Pharmacy
• Online Pharmacy

Bortezomib Market Regional Analysis/Insights

The Bortezomib Market is analyzed, and market size insights and trends are provided by country, type, application, dosage, route of administration, end user and distribution channel as referenced above.

The countries covered in the bortezomib market report are U.S., Canada, Mexico, Brazil, Argentina, Peru, rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, rest of Middle East and Africa.

North America dominates the Bortezomib Market because of the strong base of healthcare facilities, strong presence of major players in the market, increased cases of lymphoma diseases among the population, and rising number of research activities in this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in healthcare facilities, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The Bortezomib Market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Bortezomib Market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Bortezomib Market. The data is available for historic period 2010-2020.

Competitive Landscape and Bortezomib Market Share Analysis

The Bortezomib Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Bortezomib Market.

Some of the major players operating in the Bortezomib Market are:

• Takeda Pharmaceutical Company Limited (Japan)
• Pfizer Inc. (U.S.)
• Johnson & Johnson (U.S.)
• Mylan Pharmaceuticals Inc. (U.S.)
• Novartis International AG (Switzerland)
• Bristol Myers Squibb (U.S.)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sandoz International GmbH (Germany)
• Accord Healthcare Ltd. (U.K.)
• Dr. Reddy's Laboratories Ltd. (India)
• Sun Pharmaceutical Industries Ltd. (India)
• Fresenius Kabi AG (Germany)
• Cipla Ltd. (India)

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