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Tacrolimus Market Outlook 2024: Key Trends and Opportunities
"The Business Research Company recently released a comprehensive report on the Global Tacrolimus Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, The tacrolimus market size has grown strongly in recent years. It will grow from $6.2 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to advancements in transplantation medicine, increased organ transplant procedures, regulatory approvals, expanded applications in dermatology, prevalence of autoimmune diseases, increased research investments, and enhanced drug delivery technologies.
The tacrolimus market size is expected to see strong growth in the next few years. It will grow to $8.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expanded therapeutic applications, regulatory approvals for new indications, increased investment in research and development, growing awareness and acceptance of immunosuppressant therapies, expanding healthcare infrastructure in emerging markets, and evolving treatment guidelines and protocols. Major trends in the forecast period include increased adoption of personalized medicine approaches, advancements in drug delivery systems, expanding applications in autoimmune disorders, rising demand in emerging markets, growing emphasis on bioequivalence studies, development of novel formulations, and integration of pharmacogenomics for optimized dosing regimens.
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Market Drivers and Trends:
The increase in the number of procedures for organ transplants is expected to propel the growth of the tacrolimus market going forward. Organ transplantation is the surgical replacement of a malfunctioning organ by putting an organ or tissue from the donor into another (the recipient). Organ transplantation rates are in need due to progress in medical technology, enhancements in surgical methods, heightened awareness about organ donation, and enhanced post-transplantation care. Tacrolimus helps in organ transplantation by inhibiting T-cell activation and reducing cytokine production, thereby preventing the immune system from rejecting the transplanted organ. For instance, in January 2024, according to the US Department of Health and Human Services, a US-based government administration for health services, transplantation of organs from deceased and living donors totaled 46,632. This signifies a rise of 8.7% compared to 2022 and a 12.7% increase compared to 2021. Therefore, the increase in the number of procedures for organ transplants is driving the tacrolimus market.
Major companies operating in the tacrolimus market are developing advanced medications, such as tacrolimus ointments to meet the growing demand for innovative treatments for dermatological conditions while also enhancing patient care. Tacrolimus ointment is a topical treatment containing tacrolimus, an immunosuppressive agent primarily used for treating inflammatory skin conditions. For instance, in August 2023, Glenmark, an India-based pharmaceutical company, obtained approval from the United States Food and Drug Administration (US FDA) for Tacrolimus Ointment 0.03%, which is the generic counterpart of Protopic Ointment 0.03%. Glenmark Pharmaceuticals will oversee the distribution of Tacrolimus Ointment, 0.03%, within the United States. This medication is prescribed to treat moderate-to-severe atopic dermatitis, a skin condition that causes inflammation, redness, and itching.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Sinopharm Chuankang Pharmaceutical, F. Hoffmann-La Roche AG, Abbott Laboratories, Novartis AG, Viatris Inc., Teva Pharmaceutical Industries Limited, Astellas Pharma Inc, Sandoz Inc, Huadong Medicine Co Ltd, Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals, Lupin Limited, Zhejiang Hisun Pharmaceutical Co. Ltd., LEO Pharma A/S, Glenmark Pharmaceuticals Ltd., Torrent Pharmaceuticals Limited, Alembic Pharmaceuticals Limited, Wockhardt Limited, Biocon Ltd., Zydus Lifesciences Limited, Panacea Biotec, RPG Life Science, Sun Pharmaceutical Industries Limited, Tecoland Corporation
Tacrolimus Market 2024 Key Insights:
• The tacrolimus market size is expected to see strong growth in the next few years. It will grow to $8.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Organ Transplantation Driving Tacrolimus Market Growth
• Advancements In Tacrolimus Ointment Market
• North America was the largest region in the tacrolimus market in 2023 and 2024
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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