Bortezomib market is expected to gain market growth in the forecast period of 2021-2028. Data Bridge Market Research analyses the market to account to grow at a CAGR of 3.50% in the above mentioned forecast period. Bortezomib is a drug that is used to treat multiple myeloma (a type of cancer of the bone marrow). Bortezomib is also used to treat mantle cell lymphoma patients (a fast-growing cancer that begins in the cells of the immune system). Bortezomib belongs to the antineoplastic agent class of drugs. It functions by destroying cancer cells.
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Rise in the prevalence of lymphoma, mantle cell lymphoma and multiple myeloma and growing healthcare expenditure are the major factors influencing the market growth rate. Furthermore, advancement in the medical technology, growing investments for RD activities and growing awareness are the factors that will expand the bortezomib market. Also, rising geriatric population along with growing incidences of cancer will cushion the market growth rate.
Rise in the research and development activities and ongoing clinical trials will provide beneficial opportunities for the bortezomib market in the forecast period of 2021-2028. However, high cost of product, side effects associated with bortezomib such as fatigue, nausea, vomiting, constipation, fever, low platelet count, anxiety and shortness of breath are the factors that will hinder the market growth. Lack of awareness will further challenge the bortezomib market in the forecast period mentioned above.
North America dominates the bortezomib market due to the presence of major key players, growing investment for RD activities, high disposable income, and well-developed healthcare sector in this region. Asia-Pacific is expected to grow during the forecast period of 2021-2028 due to the increasing research and development activities, rising investment in the healthcare sector and growing government support.
The major players covered in the bortezomib market report are Johnson Johnson Private Limited, Takeda Pharmaceutical Company Limited., Fresenius Kabi USA, Pfizer Inc., Dr. Reddy’s Laboratories Ltd., ScionPharm Taiwan, GLS Pharma Pvt. Ltd., NATCO Pharma Limited., Cadila Pharmaceuticals, CELON LABS, INDUFAR C.I.S.A., United Biotech (P) Limited, Gland Chemicals Limited, Icrom S.p.A, Qilu pharmaceutical Co.,Ltd., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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