Carfilzomib, also known as kyprolis, is an anti-cancer medication derived from epoxomicin, which is a naturally occurring product. Epoxomicin is known to inhibit proteasome. Carfilzomib binds to 20-S proteasome and inhibits the chymotrypsin-like activity. It is used in the injection form combined with other drugs such as dexamethasone or lenalidomide to treat people suffering from blood cancer or multiple myeloma that affects plasma cells. Although the drug is highly viable, it still expresses few side effects which include excretion of black stool, blood in the urine, severe bloating, chest pain, and burning. Carfilzomib can be segmented based on type and potency with 10mg injection as the least potent one and 60mg injection with highest potency. Carfilzomib offers various advantages over traditional cancer treatment therapy such as increased efficacy and reduced adverse side effects.
COVID-19 Impact Analysis
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the carfilzomib market.
Top Impacting Factors
- Rise in the number of people suffering from blood cancer in densely populated regions like South Asia and subsequent demand for treatment therapy is a major reason for growth of carfilzomib market.
- Several advantages of carfilzomib over traditional cancer treatment technique such as increased efficacy and reduced adverse effects as compared to proteasome inhibitor therapy plus reduced hypertension, less chances of cardiac failure, and dyspnea offer huge long-term market gains for carfilzomib.
- Global market currently has limited number of approved therapies for myeloma treatment, thus providing a huge opportunity to vendors for effective creation of new carfilzomib products under various new potencies. This is anticipated to provide lucrative opportunities for the market.
- However, lack of awareness and continued apathy combined with misconceptions among population in underdeveloped nations against new age cancer treatment techniques acts as a key restraint of the global market.
- Additionally, high administration cost and inability of manufacturers to balance out the cost-benefit tradeoff is another factor hampering penetration into tier-3 population base.
Key Market Trends
- North America is anticipated to hold onto its position as the biggest market for carfilzomib owing to increasing number of blood and bone marrow cancer cases erupting in the region due to certain micro and macro environmental factors.
- Natco Ltd. recently received approval for administration and selling of 10mg and 60mg strengths of carfilzomib drug. The venture is a collaboration between Natco Ltd. and Creckenridge Pharmaceuticals to market the product in the U.S.
- Asia-Pacific is witnessing growth in the market due to growing awareness about cancer, its types, and treatment forms such as chemotherapy coupled with rising disposable income and surging demand for advanced therapeutic drugs.
- Recent clinical trials conducted by Multiple Myeloma Research Consortium showed that single dose of carfilzomib among patients who have received at least 2 prior therapies, including bortezomib and thalidomide and failed has proved quite efficient. An important conclusion was that even patients with baseline neuropathy were able to successfully tolerate carfilzombi single dose without any chances or worsening condition.
- A recent study by a syndicate firm in the U.S. concluded that administration of carfilzomib combined with thalidomide as an induction therapy in patients with newly discovered multiple myeloma proved highly feasible and effective.
- Carfilzomib is currently undergoing a multi company initiative known as ASPIRE trials to find out the efficacy and feasibility of using the drug in combination with lenalidomide and low-dose dexamethasone in patients suffering from relapsed multiple myeloma.
Key Benefits of the Report
- This study presents the analytical depiction of the Carfilzomib industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Carfilzomib Report
- Which are the leading players active in the Carfilzomib market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the Carfilzomib market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
Carfilzomib Market Report Highlights
Key Market Players
Cayman Chemical, AstraZeneca., Hangzhou Longshine Bio-Tech Co. Ltd., Amgen Inc, Vijayasri organics Ltd, Tecoland Corporation, Natco, Active Peptide, Shanghai Chiral Chemicals, Gyma Laboratories of America