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CINV Existing and Pipeline Drugs Market will Surpass US$1.88 bn by 2020

04-03-2018 04:03 PM CET | Health & Medicine

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
CINV Existing and Pipeline Drugs Market will Surpass US$1.88 bn

The global chemotherapy induced nausea and vomiting (CINV) drugs market is dominated by players such as Helsinn Holding S. A., Merck & Co. Inc., Tesaro Inc., and Heron Therapeutics, says Transparency Market Research (TMR) in a new study. Helsinn Holding S.A. along with its commercial partner Eisai Co. Ltd. led the overall CINV drugs market by revenue in 2013. The large companies are entering into a number of strategic alliances with small companies in order to directly access the consumer base in different geographic locations. However, the global CINV drugs market is highly competitive as a number of generic drugs manufacturers have lined up to enter the market, reports TMR in a new study.

“The global CINV drugs market also consists of a number of Generic drugs manufacturers offering generic versions of first-generation CINV drugs such as 5-HT3RAs Zofran (ondansetron) and Kytril (granisetron). These manufacturers are likely to give stiff competition to key players manufacturing branded drugs,” says the author of the report. Barr Laboratories Inc., Baxter Healthcare, Mylan Pharmaceuticals Inc., Orchid Healthcare, Sandoz (Novartis AG), Sun Pharma, and Teva Pharmaceuticals are some of the key generic manufacturers operating in the market.

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Rising Demand for CINV Drugs Owing to Increasing Number of Patients Undergoing Chemotherapy

Rising prevalence of cancer has resulted in an increased number of patients undergoing chemotherapy. Various sources indicate that nearly 70% to 80% cancer patients subjected to chemotherapy show nausea and vomiting as major symptoms. Oncologists are thus very likely to prescribe chemotherapy along with CINV drugs to cancer patients, consequently driving the global market. Furthermore, the newer variety of CINV drugs are reported to show better results. They have a higher complete response rate, longer effectiveness, and faster onset. Hence, the approval of such effective drugs can potentially bolster the growth of the CINV drugs market.

The companies are also shifting their focus towards the untapped markets of developing countries. The economic growth, strengthening health insurance policies, and growing occurrence of cancer cases have made developing nations an attractive destination for investments and considerable growth of the global CINV drugs market.

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High Development Costs and Stringent Approval Processes Detriment the Growth Rate of CINV Drugs Industry

Despite spending massive amounts-which could go up to US$2 bn-on drug discovery and development, companies often face hurdles in the approval process. This high risk factor is acting against the CINV drugs market’s growth.

Furthermore, the expiration of patents is another challenge that is expected to affect the overall market revenue. Patent expirations will make way for generic versions, which will be sold at prices 80% to 85% lower than branded products, causing massive erosion of profits.

Minimum Side Effects Make Aloxi a Popular Choice Amongst Oncologists and Cancer Patients

5-HT3-receptor antagonists (5-HT3RAs) and Neurokinin1-receptor antagonists (NK1RAs), along with some steroids (less effective or restricted use) are the most prescribed drug classes. Aloxi, a type of 5-HT3RA drug, forms the leading segment by revenue among the major drug type. However, the threat of patent expiration is likely to reduce the revenue generation of the segment to US$ 280.8 mn in 2020, from US$ 447.5 mn in 2015.

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“The sales of CINV drugs market will remain healthy in developed regions such as North America and Europe due to the rising incidence of various types of cancer and anticipated product approval during the forthcoming years,” says a TMR analyst. In terms of geography, North America was the leading segment in 2015 and is anticipated to lead till 2020. In Asia Pacific, countries such as India, Japan, Australia, New Zealand, and China offer immense opportunities for the growth of CINV drugs market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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