Market Overview
Platinum-based drugs, such as oxaliplatin, carboplatin, and cisplatin, are often used in cancer treatment. Following absorption into the cell nucleus, platinum-DNA adducts activate many cellular pathways, causing these platinum drugs to be cytotoxic.
Furthermore, the growing adoption of platinum-based cancer drugs is driving up the market size due to increased product availability and cancer incidence, a rise in the number of authorized medicines on the market, and an increase in research and development. As a consequence of increased improvements in this discipline, the market is seeing an increase in demand for products from North American areas. Major companies such as Novartis AG, MorphoSys AG, Regeneron Pharmaceuticals Inc., and others are actively operating in the market.
Download Free PDF Sample: Click Here
Market Size and Growth Analysis
DataM Intelligence’s new proven results show that the “Global Platinum-Based Cancer Drug Market” reached USD 1.4 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 1.8 billion by 2030. The global platinum-based cancer drug market is expected to exhibit a CAGR of 3.2% during the forecast period 2023-2030. The platinum-based cancer drug market trends show rising product launches due to rising technologies and increasing research and development.
Platinum-Based Cancer Drug Market: Drivers
Increasing Advancements and Novel Product Development Drive the Platinum-based Cancer Drug Market Growth
Combination treatment with platinum drugs can reduce platinum therapies’ overall toxicity and the potential to reduce the overall toxicity of platinum therapies and overcome platinum resistance. Platinum medication combinations may reduce tumour growth and metastasis in a complementary or synergistic way. At present, there are several techniques and advances in platinum-based combination therapy. The synthesis of various platinum-based anticancer complexes and their therapeutic benefits are reviewed briefly.
Platinum medicines are combined with gene editing, thermal treatment, ROS-based therapy, immunotherapy, biological modelling, photoactivation, supramolecular self-assembly, and imaging modalities in these complexes. Major pharmaceutical companies are developing new medications that are used in conjunction with other treatments, which is fueling market growth.
According to a statement from Regeneron Pharmaceuticals, Inc., the FDA granted approval for the PD-1 inhibitor Libtayo (cemiplimab-rwlc) when used with platinum-based chemotherapy for the initial therapy of adult patients with advanced non-small cell lung cancer (NSCLC) who do not have EGFR, ALK, or ROS1 aberrations on November 8, 2022. Patients must have locally or metastatically advanced cancer that cannot be treated with definitive chemoradiation or surgical excision. Regardless of histology or PD-L1 expression, this combination may be utilized to treat patients. As a result of the statements mentioned above, the market is expected to take the lead during the projection period.
Market Opportunities
The Increased use of Platinum-Based Cancer Drugs in Chemotherapy Procedures Creates Market Growth Opportunities
Chemotherapy may decrease a tumour enough for radiation therapy and surgery to be considered as further therapies. This is known as neoadjuvant treatment, and it is used to reduce the severity of symptoms and indications. Chemotherapy may aid by eliminating certain cancer cells, which may alleviate some of the disease’s symptoms. Platinum-based compounds are important chemotherapeutic cancer medicines or treatment prospects.
Platinum-based drugs are helpful against cancer because a platinum atom is linked to two ammonium molecules with two chloride ions. The material is negatively charged, but once inside a cancer cell, water molecules replace the chloride ions, causing it to become positively charged. Traditional platinum drugs include cisplatin, carboplatin, and oxaliplatin. These neutral platinum (II) complexes include two amine and two extra ligands that may be activated for increased DNA binding.
Platinum-DNA adducts may obstruct biological activities and cause apoptosis. Platinum drug resistance in malignancies has become a difficult problem to solve. Platinum-drug resistance in cancer patients must be addressed by customized cancer therapy using a variety of tactics.
Segmentation Analysis
The Global Platinum-Based Cancer Drug Market is segmented by drug type into cisplatin, oxaliplatin, carboplatin, and others; by application into colorectal cancer, lung cancer, breast cancer, and others; and by end user into hospitals, speciality clinics, and others.
Cisplatin from the Drug Type Segment Accounted for Around 42.8% of the Platinum-Based Cancer Drug Market Share due to its High Use.
The cisplatin segment had the largest market share in 2022 and is likely to retain its dominance throughout the forecast period, owing to an increase in tumour incidence among the population globally. Cisplatin is the most often used chemotherapeutic medication for the treatment of colorectal cancer. It is also used to treat a variety of malignancies, including lung, bladder, cervical, and ovarian cancers. Cisplatin and other platinum-based medications were developed with the help of the National Cancer Institute (NCI).
The goal of ongoing research is to produce less harmful and/or more tolerable cisplatin-based medicines and related platinum-based medications. Cisplatin therapy’s efficacy has been hampered by dose-limiting toxicities, including nephrotoxicity and cancer cell resistance to cisplatin. Cisplatin-resistant cells may arise spontaneously or as a result of medication exposure. Despite substantial advances in pharmacological research and molecular-targeted therapy, conventional chemotherapy remains the most often used treatment.
Cisplatin has been one of the most often utilized anticancer medications for more than three decades. Carboplatin is the only platinum-based chemotherapeutic medicine approved by the FDA for breast cancer treatment. Platinum-based chemotherapy causes breast cancer cells to degrade or die by rendering them incapable of mending any damage. Hikma Pharmaceuticals PLC launched Cisplatin Injection, 1 mg/mL in 50 mL and 100 mL bottles, in the United Kingdom.
For more detailed information: Click Here
Recent Developments of Platinum-Based Cancer Drug Market
- Amgen announced the presentation of new data from the CodeBreaK clinical trial program, the largest international development program for patients with KRAS G12C-mutated malignancies, on June 4, 2023, at the Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago. The findings back up LUMAKRAS/LUMYKRAS (sotorasib)’s effectiveness in advanced colorectal cancer (mCRC) and non-small cell lung cancer (NSCLC). This research highlights for the first time the safety and efficacy of sotorasib when paired with platinum-based chemotherapy for the first treatment of persons with advanced NSCLC bearing a KRAS G12C mutation.
- On January 27, 2023, the FDA authorized KEYTRUDA, a Merck single agent anti-PD-1 treatment, for adjuvant therapy in adult patients with stage IB (T2a 4 cm), II, and IIIA non-small cell lung cancer (NSCLC), after surgical resection and platinum-based chemotherapy. The clearance was based on data from the pivotal Phase 3 KEYNOTE-091 study, also known as EORTC-1416-LCG/ETOP-8-15 – PEARLS. The key effectiveness outcome measure was DFS, as judged by the investigator.
- According to Regeneron Pharmaceuticals, Inc., the European Commission (EC) approved Libtayo (cemiplimab) when combined with platinum-based chemotherapy for the initial therapy of adult patients with advanced non-small cell lung cancer (NSCLC) and less than 1% PD-L1 expression on March 29, 2023. This includes individuals with metastatic or locally advanced malignancies who do not have EGFR, ALK, or ROS1 mutations and are not suitable candidates for final chemoradiation.
Platinum-Based Cancer Drug Market: Regional Insights
By region, the global platinum-based cancer drug market is segmented into North America, Europe, South America, Asia Pacific, and Middle East and Africa.
North America Accounted for Around 39.6% of the Market Share in 2022 due to the Strong Presence of Major Players and Increasing Healthcare Infrastructure Investment
Due to the growing need for platinum-based cancer treatments for research purposes in healthcare, firms in North America may expand their operations. North America has numerous manufacturers and suppliers, and due to the region’s rapid economic expansion, industrial output has risen, fueling demand for platinum-based cancer therapies.
Increasing healthcare spending and public awareness, progress of treatment technologies, and a rise in pharmaceutical firm formation throughout the area are all contributing to the region’s platinum-based cancer drug market share growth.
It is also expected that joint research initiatives between major healthcare institutions and businesses, as well as new product development, which continually attempts to enhance current treatment options, would contribute to the growing need. People are becoming more aware of numerous advanced products that are being used to provide better treatment, which is causing the market in this area to expand. The aforementioned elements further demonstrate North America’s global supremacy.
Competitive Landscape
Key players contributing to the global platinum-based cancer drug market growth include Pfizer, Inc., Accord Healthcare, Sanofi, Sun Pharmaceutical Industries Ltd., MorphoSys AG, Dr. Reddy’s Laboratories Ltd., Eisai Co., Ltd., Regeneron Pharmaceuticals Inc., Novartis AG and Merck & Co., Inc. among others.
About DataM Intelligence
DataM Intelligence 4Market Research is a Market Research firm that provides end-to-end business solutions to organizations from Research to Consulting. We at DataM Intelligence leverage our top trademark trends, insights, and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of Syndicate Reports & and; Customized Reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries, catering to the key business research needs that influence the growth trajectory of our vast clientele.
Trending Topics
Klebsiella Pneumoniae Infections Market
Media Contact
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Send Email
Phone: 08774414866
Address:DATAM INTELLIGENCE 4MARKET RESEARCH LLP Ground floor, DSL Abacus IT Park, Industrial Development Area, Uppal, Hyderabad, Telangana 500039
City: HYDERABAD
State: Telangana
Country: India
Website: https://www.datamintelligence.com/research-report/platinum-based-cancer-drug-market