Platinum-based Drugs Market

Prevalence of cancer has witnessed two-fold growth around the globe in recent years, owing to poor lifestyle, increased stress burdens, smocking & alcohol, and use of contraceptives in few cases. It is the second leading cause of global deaths, including lung cancer as the most potent one. Major symptoms of premature cancer include skin lump, changes in bowel, fatigue, and persistent cough. This enlightens the underlying need of design and development of new age effective therapies for cancer treatment. Under treatment procedure, primary treatment, adjuvant treatment, and palliative treatment form different arrays. Among primary treatment scenarios, surgeries and chemotherapies are the most effective techniques. Goal under surgery procedure is to completely remove cancer from the body.

Lately, platinum compounds have been at the fulcrum of cancer treatment especially ovarian cancer, bladder cancer, and testes cancer. The compounds have been known to crosslink with purine bases of the DNA, interfering with DNA mechanisms, causing DNA damage and gradually inducing apoptosis in the cancerous cells. Cisplatin is the most frequently used platinum drug for cancer treatment. It is a deep white or yellow or deep yellow in powder form at the room temperature. Cisplatin is shown to have cytotoxic properties, and is also used in combination with other cancer drugs as part of combination therapeutic strategy for various human cancers. Carboplatin, a derivative of cisplatin, is used to treat ovarian and lung cancer.

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 industry is 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 platinum based drugs market.

Top Impacting Factors

• Decades of huge investments in medical science, biotechnology, and oncology for finding effective cancer treatment techniques, platinum drugs have become an integral part of cancer treatment and thus resulted in huge market gains.
• A major growth driver of the carboplatin market is the ability of the drug to overcome grave security problems associated with other platinum-based drugs such as cisplatin.
• Another major driver for growth of platinum drugs is the added capability of circumvent resistance, thus significantly increasing the clinical usefulness of these drugs. This includes drugs such as satraplatin, oxaliplatin, and picoplatin.
• However, the major limitations associated with platinum drugs include adverse associated side effects and new age drug resistance capabilities of cancerous cells, downplaying the efficacy of drugs. These factors might restrain market growth in low-income economies.

Platinum based Drugs Market Trends

• Emergence of analog drugs such as carrier molecule platinum complex against the drug resistance capabilities of cancerous cells is known to boost drug concentration inside cancer cells.
• Cisplastin is widely shown to be an affective agent against testicular and ovarian cancers while being highly inefficient against other cancer types.
• North America is anticipated to retain and gain higher chunk of market share, owing to increased disease prevalence, increased awareness about platinum drugs, intricately developed healthcare infrastructure, and surge in national disposable income.

Key Benefits of the Report

• This study presents the analytical depiction of the platinum-based drugs 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 platinum-based drugs market share.
• The current market is quantitatively analyzed to highlight the platinum based drugs market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the platinum based drugs 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 Platinum-based Drugs Report

• Which are the leading players active in the platinum based drugs market?
• How is each segment of the market expected to grow during the forecast period?
• What are the adoption trends for the platinum based drugs 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 platinum based drugs market?
• What future projections would help in taking further strategic steps?
• What are the impacts of COVID-19 in the industry?
• What is platinum based drugs ?
• What is the platinum based drugs market prediction in the future?
• What are the current trends and predicted trends?

 Platinum-based Drugs Market Report Highlights