Newark, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 107.6 million sunitinib malate market will reach USD 328.2 million by 2032. Sunitinib Malate is the malate salt of an indolinone-based multi-targeted receptor tyrosine kinase (RTK) inhibitor that has been approved for treating Carcinoma by the Food and Drug Administration (FDA). The chemical formula for sunitinib malate is C22H27FN4O2, and its molecular weight is 398.482 g/mol. Sunitinib has been recognized as an effective medication inhibiting cell proliferation and angiogenesis due to its potential antineoplastic effects. Sunitinib capsules have been approved for treating Pancreatic Neuroendocrine Tumors, Kidney Cancer, and Gastrointestinal Stromal Tumors (GIST).
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Key Insight of the Sunitinib Malate Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest sunitinib malate market share. It is mainly driven by the rapidly increasing prevalence of pancreatic cancer. Furthermore, customer incomes and health insurance coverage for life-threatening diseases are generally high in the United States, making cancer treatment more affordable. The US Food and Medicine Administration (USFDA) has made initiatives in recent years to accelerate the progress of the cancer drug market by giving pre-market approval to pharmaceuticals in the clinical phase, thereby speeding up clinical development.
The Purity: >98% segment dominated the market with the largest market revenue of 49.2 million.
The Purity: >98% segment dominated the market with the largest market revenue of 49.2 million. Purity values greater than 98% imply that the chemical comprises 98% or more pure sunitinib malate and is of higher quality.
The pancreatic neuroendocrine tumors segment accounted for the largest share of the market, with a market revenue of 43.7 million.
The pancreatic neuroendocrine tumors segment accounted for the largest share of the market, with a market revenue of 43.7 million. Types 1 and 2 are the most frequent types of this tumor, accounting for around 85% to 90% of occurrences worldwide. This market is also driven by better knowledge of tumor diagnosis and therapy, an aging population, and more excellent R&D initiatives.
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Market Dynamics
Drivers: Increasing prevalence of tumors
The increasing prevalence of pancreatic neuroendocrine tumors, often known as pancreatic cancer, is a primary driving force in the global sunitinib malate market. Similarly, the limited number of pharmacological therapies available for treating advanced pancreatic neuroendocrine tumors and the low diagnosis rate in the early stages of pancreatic cancer are driving up demand for sunitinib malate in treating pancreatic cancer.
Restraint: Problem in hepatic function
In addition to its therapeutic effects, Sunitinib may cause unwanted side effects. One of these is hepatotoxicity, which can result in severe and deadly consequences, hindering the market's growth. If there is a problem with hepatic function after taking sunitinib malate, the drug should be stopped immediately.
Opportunity: Technological advances
The sunitinib malate market is predicted to be driven by increased disease awareness and technological advances. Rising cancer prevalence, rising pharmaceutical research and development spending, rising healthcare expenditure, and increasing Asian population will all boost the Sunitinib Malate market during the forecast period.
Challenge: Side effects due to grapefruit interaction
Grapefruit may interact with Sunitinib and cause unwanted side effects. When on a sunitinib malate prescription, it is advisable to avoid consuming grapefruit products. Sunitinib can infiltrate bodily fluids (urine, faeces, and vomit), harming caretakers and posing a threat to the market's growth.
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Some of the major players operating in the sunitinib malate market are:
● Pfizer
● Brawn Laboratories Ltd INDIA,
● Topcare Pharmaceutical Co. Ltd
● Hetero Drugs Ltd INDIA
● Reliance Life Sciences Pvt. Ltd
● Target Molecule Corp.
● J&K Scientific
● Nanjing First Pharmaceutical Co. Ltd.
● Biotechnica Pharma Global
● Medichem
Key Segments cover in the market:
By Type:
● Purity: >99%
● Purity: >98%
● Purity: >97%
By Application:
● Pancreatic Neuroendocrine Tumors
● Kidney Cancer
● Gastrointestinal Stromal Tumor
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About the report:
The global sunitinib malate market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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