Methotrexate Drug Market Overview
Methotrexate (MTX) is a drug that acts as a chemotherapy agent, thus used for cancer treatments and as an immune system suppressant, hence it is also prevailing for the treatment of autoimmune diseases. Along with that, methotrexate drug is widely known for its role in treating medical abortions and ectopic pregnancy. It can be injected into the veins or can be taken orally and the drug is approved by the FDA.
Market Size and Forecast
The methotrexate drug market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, route of administration, application, end-users, distribution channel, and region. Among distribution channel segmentation, the hospital pharmacies segment is anticipated to grow significantly during the forecast period on account of growing numbers of registered cancer & autoimmune diseased patients worldwide, the prevalence of medical abortions, growing awareness about cancer diseases, and R&D initiatives resulting in advanced medications and drugs to cure the illness.
Growing awareness related to associated diseases and less toxicity compared to other treatments
An increase in the incidence of target diseases and rising awareness among the healthcare sector and the common public related to the drug, are the key factors that are driving the growth of the global methotrexate drug market.
Methotrexate was widely accepted among healthcare professionals for treating cancer as it was less toxic than the then used treatments. It has extensive use while performing chemotherapies on patients and in disease-modifying treatments for autoimmune illnesses. For its effectiveness, low-dose methotrexate is often preferred for first-line therapy of rheumatoid arthritis. The drug is widely popular for terminating pregnancies during the early stages and for treating ectopic pregnancies. CLICK TO DOWNLOAD SAMPLE REPORT
According to WHO, Cancer is the second foremost cause of death globally and is accountable for a probable 9.6 million deaths in 2018. Worldwide, about 1 in 6 deaths is owed to cancer.
Furthermore, initiatives taken by numerous government and private organizations to spread alertness about the target diseases, rise in disposable income and surge in healthcare facilities in developing countries, novel R&D inventiveness to create medications, technological innovations, and investments by major players are likely to boost the market growth during the forecast period.
Side effects caused by the drug
Common side effects of consuming methotrexate might include hair loss, nausea, headaches, and skin pigmentation. The most common side effects which can have adverse effects include liver damage, kidney failure, and others. These effects might come up as market hindrances in the foreseeable future.
Further, strict government regulations in certain nations, lack of awareness, slow detection of the disease, and high costs involved in the treatments might also add as growth constraints for the overall methotrexate drug market.
Our in-depth analysis of the Methotrexate Drugmarket includes the following segments:
By Route Of Administration
By Distribution Channel
Geographically, the methotrexate drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is projected to hold the largest market share during the forecast period. The dominance is attributed to factors such as high healthcare expenditure, a high rate of adoption of innovative technology, a rise in the prevalence of target diseases, and a favorable pipeline. Further, the ease of availability of methotrexate drug therapies, rise in R&D concerning methotrexate drugs, various campaigns regarding cancer survivors, and the availability of reimbursements are further contributing towards the regional growth.
Europe is expected to be the second-largest market for methotrexate drugs owing to aspects such as rising government expenditure on the healthcare industry, new product take-offs, product authorizations by the government, and the effort of the companies to develop technically advanced products.
Asia-Pacific is estimated to grow at the fastest rate during the forecast period owing to various aspects such as growth in the occurrence of disorders requiring methotrexate drug, a surge in the number of cancer patients, increased female population needing medical abortions, upsurge in healthcare expenditure, penetration of leading players, burgeoning population, and a rise in disposable revenue.
According to WHO, around 70% of deaths from cancer take place in low- and middle-income nations.
Latin America and the Middle East and Africa are projected to experience scalable heights in the foreseeable future as a result of efforts made by the governments in these regions to promote the use of medications and spread the awareness about the health disorders.
According to The International Agency for Research on Cancer (IARC), a part of the World Health Organization, America has 13.3% of the worldwide population and holds for 21.0% of cancer occurrences, and 14.4% of cancer mortality universally. Europe books 23.4% of the global cancer incidences and 20.3% of the cancer deaths, even though it has only 9.0% of the global populace. Whereas, approximately half of the novel cases and more than half of cancer demises worldwide in 2018 were projected to occur in Asia, in part since the region has nearly 60% of the global populace. These estimates were released on September 12, 2018.
The methotrexate drug market is further classified based on region as follows:
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