The global docetaxel market is expected to grow at a CAGR of 3.10% during the forecast period, 2023–2031.
Docetaxel is used in chemotherapy for treating breast, prostate, stomach, and non-small cell lung cancers. Increasing number of incidences of these cancers are further influencing the demand for docetaxel. As per the American Cancer Society, around 174,650 new cases of prostate cancer were diagnosed in the U.S. in 2019. Moreover, docetaxel-based chemotherapy treatment has improved the survival rate among men in castration-sensitive prostate cancers, is typically well-tolerated by patients.
According to the National Cancer Institute, 228,150 new cases of lung cancer are estimated to be registered in the U.S. by the end of 2019, which makes up for almost 12.9% of the population. Furthermore, increasing environmental pollution in the developed and developing regions such as North America, Europe, and the Asia Pacific which is influencing rate of cancer.
Demand for docetaxel is increasing in chemotherapy, as more and more manufactures are investing in the research & development for product innovation. In 2016, Eagle Pharmaceuticals, received an approval from FDA for Docetaxel injection, and non-alcohol formula for the treatment of cancer. To support the increasing prevalence of cancer, governments in various countries are heavily investing in the research & development, and are increasing the number of their clinical trial. For instance, in September 2017, Starpharma announced that its phase 1 trial for DEP docetaxel with low toxicity.
Global docetaxel market is segmented into application and end users
Based on the application, the docetaxel market is segmented into breast cancer, prostate cancer, non-small cell lung cancer, and others. Globally, the prevalence of breast cancer among women is increasing at an alarming rate. In the U.S., in 2019, around 268,600 new cases of invasive breast cancer were diagnosed, along with 62,930 new cases of non-invasive breast cancer in women, as per Breastcancer.org estimation. Moreover, chemotherapy is majorly used for the treatment of breast cancer, whereas docetaxel injection is indicated for the treatment of patients with metastatic breast cancer.
By end users, the market is segmented into hospital & chemotherapy centers, cancer research centers, and ambulatory surgery centers. Hospital and chemotherapy centers is expected to hold the major market share during the forecast period 2019-2026. This can be attributed to cancer patient prefer specialized caner hospital and cancer center for the treatment of diseases. Furthermore, rising number of hospital and chemotherapy centers across the globe are major factors driving the market growth. For instance, in the U.S., in 5,000 hospitals more than 30,000 physicians are working on cancer.
Geographically, the global docetaxel market is segmented into Americas, Europe, Asia Pacific (APAC), and, Middle East & Africa (MEA).
Americas have a huge presence of multispecialty cancer hospitals, research center, and advanced chemotherapy treatment, which is further boosting the market growth in the region. Moreover, geriatric population are highly prone to suffer from cancer, and the region is housing a huge greyed population. As per the American Cancer Society Inc., around 140,690 new cases of cancer were diagnosed among the Americans aged 85 and older. Besides, various pharmaceutical manufacturers are working on developing new combination of docetaxel drugs for the better treatment of cancer, which is expected to drive the market growth. For instance, Genentech received an approval from the FDA for subcutaneous injection in certain HER2-positive breast cancers. In September 2019, Bristol-Myers Squibb Company, Opdivo CheckMate -548, combination formula of docetaxel are under phase III trial.
In Canada, in 2019, around 220,400 new cases of cancer were diagnosed, and the disease killed 82,100 people, Canadian Cancer Society. Moreover, lung, colorectal, breast, and prostate cancers are responsible for about half of all the deaths occurred in 2019.
Europe has a huge presence of leading manufacturers such as Accord Healthcare, and Sandoz for anti-cancer drugs, which is positively impacting the market growth. Moreover, increasing demand for cancer drugs in chemotherapy is further escalating the regional growth. In Germany, 345.9 per 100,000 men are suffering from kidney stone, which is further influencing the demand of kidney stone.
Some of the key players in global docetaxel market are
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