New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The global Capecitabine Market is expected to witness significant growth at a remarkable CAGR of 5.5% during the forecast period of 2023-2030. The factors such as the increasing development of new cancer facilities, advancement in investment in cancer research, and others are accelerating the demand for capecitabine, which, in turn, is boosting the market growth. In addition, the rising development of a new range of capecitabine product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the capecitabine market is poised for strong expansion and is expected to reach USD 1,558.74 Million by 2030. The market, which was valued at USD 1,020.00 Million in 2022, is predicted to grow at a compound annual growth rate of 5.5% during the period 2023-2030. The report highlights the increasing adoption of capecitabine in hospitals, which is supplementing global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the capecitabine market.
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The cancer cells are continuously required to make and repair DNA. This leads to cancer growth and multiply in the other body parts. Thus, the utilization of capecitabine is vital for cancer patients to prevent cells from making and repairing DNA. The growing incidence of cancer such as breast cancer, lung cancer, and other types of cancer along with the rising demand for therapeutics research and development (R&D) for the treatment of cancer are key factors driving the adoption of capecitabine. For instance, according to the recent data published by the Global Cancer Observatory, the number of new cancer cases at the global level reached 19,292,789 in 2020. In 2020, the most prevalent types of cancer were breast cancer, accounting for 11.7% of the total cases, followed by lung cancer at 11.4%, colorectum cancer at 10%, prostate cancer at 7.3%, and stomach cancer at 5.6% of the total cases respectively. Henceforth, the increasing prevalence of cancer cases is fueling the demand for capecitabine to prevent cancer from spreading in vital body parts. This, in turn, is accelerating the market growth.
In addition, the major industry players in the capecitabine market are significantly deploying a strategy for innovations in capecitabine, which are utilized for the efficient treatment of cancer. Hence, companies dealing in the capecitabine product range are developing new products with new developments. Consequently, the introduction of new products with upgraded benefits will create a potential opportunity for the expansion of the global capecitabine market.
Global Capecitabine Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 1,558.74 Million |
| CAGR (2023-2030) | 5.5% |
| By Form | Tablets and Powder |
| By Indication | Breast Cancer, Colorectal Cancer, Gastric Cancer, and Others |
| By End User | Hospitals, Specialty Clinics, Homecare, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Teva Pharmaceuticals, Inc, F. Hoffmann-La Roche AG, Mylan N.V., Hikma Pharmaceuticals PLC, Cipla Inc., Dr. Reddy's Laboratories Ltd., Fresenius SE & Co. KGaA, Sun Pharmaceutical Industries Limited, Genentech, Inc., and Accord Healthcare Ltd. |
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Global Capecitabine Market Segmentation Details:
Based on Form, the tablets segment contributed the largest shares to the market growth in 2022. Capecitabine tablets ensure ease in packing to travel dispensers per pack. This leads to convenience fitting in a bag or pocket. Hence, the major advantage of a capecitabine tablet is its ease of use. In addition, the deployment of capecitabine tablets ensures high precision, dose accuracy, and lower variability, among others. Therefore, due to the above benefits, the adoption of tablets is increasing for the treatment of cancer, thereby favoring market growth.
Based on Indication, the breast cancer agent segment accounted for the largest market share in the year 2022. Capecitabine is employed by healthcare facilities to treat breast cancer that has reoccurred after previous treatment and has spread to the tissues & lymph nodes around the chest, neck, and others. In addition, capecitabine is deployed for the treatment of early-stage triple-negative breast cancer. Hence, the rising prevalence of breast cancer cases is bolstering the demand for capecitabine to control the spreading of breast cancer. This prominent factor is amplifying the market growth.
Based on End User, the hospitals segment accounted for the largest market share in the year 2022. Capecitabine is approved for utilization in cancer treatment by various international nodal agencies, including the United States Food and Drug Administration (FDA), European Union, and others. Capecitabine is a crucial component of several cancer chemotherapeutic regimens. As a result, capecitabine is deployed in the treatment of various types of cancers in hospitals, including advanced & metastatic breast cancer, colorectal cancer, and others. This crucial factor is accelerating market growth at the global level.
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Based on Region, in the year 2022, North America accounted for the largest share contribution to the market growth, owing to the increasing cancer cases. For instance, according to the Global Cancer Observatory, approximately 195,499 new cases of cancer including colorectal cancer, lymphoma, lung cancer, and breast cancer among others were recorded in Mexico in 2021. Thus, the increasing prevalence of cancer cases in the North American region is favoring the capecitabine market growth in the region.
Competitive Landscape
As per the research, Teva Pharmaceuticals, Inc, F. Hoffmann-La Roche AG, Mylan N.V., and Hikma Pharmaceuticals PLC are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of capecitabine. Further, the capecitabine market is expected to grow steadily due to rising demand from hospitals, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing product offering expansion for capecitabine players is expected to increase the competition in the market.
Recent Developments
- In February 2021, Dr. Reddy's Laboratories Ltd., an India-based manufacturer of capecitabine launched a generic version of Xeloda (capecitabine) tablets in the United States market. Thus, the expansion of product offerings in the global market is benefiting the capecitabine market growth.
Key Market Takeaways
- North America accounted for the highest market share at 38.60% and was valued at USD 393.72 million in 2022, and is expected to reach USD 604.17 million in 2030. Moreover, in North America, the U.S. accounted for the highest market share of 65.50% during the base year of 2022.
- Based on form, the tablets segment accounted for the highest share contribution to the capecitabine market statistics in 2022.
- In the context of indication, the breast cancer segment is expected to contribute significant shares to the growth of capecitabine market statistics during the forecast period.
- On the basis of end user, the hospitals segment accounted for the highest share contribution to the capecitabine market size in 2022.
- Asia Pacific is expected to boost the market demand for capecitabine due to the increasing investments in new cancer hospitals in countries such as India, Singapore, and others.
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List of Major Global Capecitabine Market:
- Teva Pharmaceuticals, Inc
- F. Hoffmann-La Roche AG
- Mylan N.V.
- Hikma Pharmaceuticals PLC
- Cipla Inc.
- Dr. Reddy's Laboratories Ltd.
- Fresenius SE & Co. KGaA
- Sun Pharmaceutical Industries Limited
- Genentech, Inc.
- Accord Healthcare Ltd.
Global Capecitabine Market Segmentation:
- By Form
- Tablets
- Powder
- By Indication
- Breast Cancer
- Colorectal Cancer
- Gastric Cancer
- Others
- By End User
- Hospitals
- Specialty Clinics
- Homecare
- Others
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Frequently Asked Questions in the Capecitabine Market Report
- What was the market size of the capecitabine industry in 2022?
- In 2022, the market size of capecitabine was USD 1,020.00 million.
- What will be the potential market valuation for the capecitabine industry by 2030?
- In 2030, the market size of capecitabine will be expected to reach USD 1,558.74 million.
- What are the key factors driving the growth of the capecitabine market?
- The rising prevalence of cancer cases is driving the adoption of capecitabine, which is fostering market growth.
- What is the dominating segment in the capecitabine market by end user?
- In 2022, the hospitals segment accounted for the highest market share of 48.50% in the overall capecitabine market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the capecitabine market?
- North America accounted for the highest market share in the overall capecitabine market.
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