Global Statistics Representing Oxaliplatin Market Scenario

Oxaliplatin, an antineoplastic chemotherapy drug, is used to treat metastatic colorectal cancer. The drugs is administered in combination with fluorouracil and leucovorin.

In terms of the product lifecycle, the market for oxaliplatin has reached declining phase. The drug experienced introductory phase post its approval during 2002 – 2003, after which it was in the growth phase, during 2004 to 2009. In 2009, the market reached maturity, and was severely hit by the competition from generic drugs and other substitute therapies, resulting in the decline in the market size. Being in the declining phase, the market is expected to record a negative CAGR of -5.7% over the forecast period.

The parent market for oxaliplatin, i.e., colorectal cancer treatment market, is also declining as the number of screening programs for early disease diagnosis are rising globally. With this, if the disease is diagnosed at stage I or II, the tumors are removed by the surgery. Chemotherapy is preferred at the stage III and stage IV, owing to which, the scope of the treatment therapy is limited. Declining market can also be attributed to the growing preference for other therapies and rising number of new molecules under clinical studies. The effectiveness of the molecules currently under development, are found to exhibit potent results, compared to oxaliplatin. The side effects of the alternative therapies are also comparatively less. However, ongoing scenario might change in future, if oxaliplatin gets approval for other indications.

Global oxaliplatin market is expected to reach USD 548.6 million in 2028 from USD 981.99 million in 2018 at a negative CAGR of 5.7% during the forecast period 2019–2026

Key Findings

• Introduction of generics and emergence of alternative therapies, has resulted in the decline of the market size
• The preference for alternative therapies is increasing at a rapid rate owing to the better efficiency and less side effects as compared to oxaliplatin
• Rising screening programs for colorectal cancer has improved the diagnosis at earlier stages, wherein, the tumor is removed surgically, which reduces the chances of chemotherapy to treat the colorectal cancer
• The market dynamics might change in the future, if the approvals for other disease indications rises significantly
• In terms of the product type, lyophilized powder segment accounted for 53.9% in 2018 and it was valued at USD 529.62 million
• In the current scenario, the adoption of oxaliplatin to treat metastatic cancer is the highest in North America, owing to which it holds the largest share with 43.7%. The North America oxaliplatin market was valued at USD 428.9 million in 2018 and expected to reach 223.8 million by 2028, at a negative CAGR of -6.3%
• The rate of market decline will be lowest in the developing economies as the adoption of substitute therapies is the lowest in these regions. Moreover, the awareness of colorectal cancer screening programs is also less. At stage III or stage IV, the preferred treatment to treat colorectal cancer is chemotherapy. Thus, the market is declining at comparatively slow rates in the developing economies
• Asia Pacific was valued at 192.9 million in 2018 and expected to reach USD 126.7, at a negative CAGR of -4.2%

On the basis of formulations, the global oxaliplatin market is bifurcated into aqueous solution and lyophilized powder.

Lyophilized Powder Segment Offers Dominates the Market

Lyophilization is a freeze-drying process, which is performed to extend the shelf life of a product. The oxaliplatin lyophilized powder injection is prepared using a specific lyophilization process to increase the stability of drug, reduce the risk of side effects, and ensure a high degree of clinical usage. However, it is slightly expensive than aqueous solution. Global average selling price of 100 mg intravenous injection is around USD 84 – USD 500. Sanofi offers ELOXATIN in a lyophilized powder form..

Based on indication, the market is segmented into the adjuvant treatment of stage III colon cancer and treatment of stage IV colorectal cancer, and others.

Adjuvant Treatment of Stage III Colon Cancer Emerged as the Largest Segment in terms of Application

By application, the market is segmented into chemicals, wastewater management, oil and gas, food and beverages, pharmaceuticals, pulp and paper, and other industries.

Colorectal cancer is the second leading cause of cancer deaths in the U.S, and it costs around USD 8.4 billion a year, the Colon Cancer Coalition. In the recent past, the mortality rate of colorectal cancer has been reduced to a surprising level because of emerging advanced screening and diagnostic technologies and their rapid adoption. On the other hand, the survival rate with stage III and IV colorectal cancer has not improved much. Chemotherapy and targeted therapy are the most effective treatments for advanced stage of the disease. In Stage III, colon cancers oxaliplatin-based chemotherapy FOLFOX and XELOX are considered standard treatment and is widely adopted across worldwide. However, growing adoption of targeted therapies is limiting the use of oxaliplatin in developed economies.

Hospitals and Clinics Hold the Second Largest revenue Share in terms of the Market Size

Hospitals and clinics are leading the market as the majority of the patients frequently visit hospitals for diagnosis and treatment of cancer. According to the American Cancer Society, in 2014, cancer patients paid approximately USD 4,000 million out-of-pocket for cancer treatment, and roughly USD 87.8 million was spent alone in the U.S. on cancer-related healthcare. Furthermore, growing clinics and hospital infrastructure with added and improved services are expected to attract more patients towards hospitals & clinics for better treatment and care against cancer. Increasing number of oncologists and healthcare professionals, specializing in the diagnosis of cancer at an early stage and providing proper treatment is likely to escalate the hospital & clinics segment growth further

Asia Pacific offers lucrative opportunities for the market growth

In the last two decades, there has been dramatic rise in incidence of colorectal cancer and mortality in Asia. In China, colorectal cancer mortality in men accounts for around 5.5% of all cancers, the WHO. The region has diversified populations with varied disease prevalence, health beliefs, and healthcare infrastructure. The public is ill-informed about screening tests and benefits. Aging and geriatric populations are more prone to develop colorectal cancer and drive the demand for colorectal treatment therapies. In Asia Pacific, the number of geriatric populations is expected to reach 1.3 billion by 2050, the UN.

In most of the Asian countries, national healthcare systems and health insurance cover only a minority of people. So, access to healthcare facilities is limited in many rural areas and communities of low socioeconomic status. For instance, in China, over half of the population lives in rural areas, covering only about 10% under rural pension schemes. In India, the pension system for civil servants and private sector employees covers only about 14% of the workforce, the Asian Development Bank.

The prevalence of colon cancer is rising in many developing countries such as China, Japan, South Korea, and Singapore. Moreover, changing dietary habits, physical inactivity, smoking, and alcohol consumption are also contributing to rising CRC cases. In Japan, each year, around 125,000 people are diagnosed with CRC, and over 693,900 people die of CRC, the Japan Society of Clinical Oncology. To tackle this issue, in 2006, the Cancer Control Act was approved in Japan, and then the Basic Plan to Promote Cancer Control Program was subsequently developed, which clearly defined the goal of reducing mortality from cancer. Moreover, in Japan, screenings for gastric, colorectal, lung, breast, and cervical cancers have increased. In August 2019, Japan’s Ministry of Health, Labor, and Welfare (MHLH) has granted manufacturing and marketing approval for the OncoBEAM RAS CRC Kit. This will be used for molecular testing of advanced colorectal cancer patients. The availability of the OncoBEAM RAS CRC kit in Japan will reduce the need for invasive tissue biopsy and speed up the apt treatment therapy.

Key Players

Some of the key players in the global oxaliplatin market are Sanofi, Pfizer, Yakult Honsha, and Dr. Reddy’s laboratory.

Our Report Covers

• Historical inferences, findings & analysis of the market from 2013 to 2018
• Projections and performance forecast analysis for the future from 2019 to 2028
• Production and consumption point of view (POV) analysis
• Market drivers, restraint and opportunity analysis, to define market dynamics covering industry, regulatory, innovation, technological & pricing trends
• Comprehensive competitive landscape mapping with recent development covering market leadership, competency, sustainability, and prospects

Oxaliplatin Market Segmentation

By Type

• Lyophilized Powder
• Aqueous Solutions

By Application

• Adjuvant Treatment of Stage III Colon Cancer
• Treatment of Stage IV Colorectal Cancer
• Other Applications

By End Users

• Hospitals and Clinics
• Research Institutes
• Other End Users

Regions Covered:

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• U.K.
• France
• Spain
• Italy
• Benelux
• Rest of Europe

Asia Pacific

• China
• Japan
• Korea
• India
• South East Asia
• Australia
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Colombia
• Chile
• Peru
• Rest of Latin America

MEA

• Egypt
• Saudi Arabia
• South Africa
• Nigeria
• UAE
• Rest of MEA