Saturday, July 13, 2024

Global High Potency Drug Market to Reach $379.2 Billion by 2031

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InsightAce Analytic Pvt. Ltd. has announced the release of a comprehensive market assessment report titled “Global High Potency Drug Market Size, Share & Trends Analysis Report By Product Type (Innovative And Generic), Dosage Form (Injectables, Oral Solids, Creams), Manufacturer Type (In-House And Outsourced), Therapeutic Area (Oncology, Hormonal Imbalance, Neurology) – Market Outlook and Industry Analysis 2031.” The report predicts that the Global High Potency Drug Market, valued at US$ 169.42 billion in 2023, will grow at a CAGR of 10.7%, reaching an estimated US$ 379.20 billion by 2031.

High Potency Active Pharmaceutical Ingredients (HPAPI) are known for their efficacy at low doses and significant therapeutic effects, making them vital in treating a variety of medical conditions, including cancer, hormonal disorders, infectious diseases, and pain management. The increasing prevalence of chronic diseases, advancements in targeted therapies, and the rising demand for personalized medicine are major factors driving the expansion of the HPAPI market.

Despite their therapeutic benefits, HPAPIs come with challenges such as stringent regulatory requirements, the need for specialized handling and storage, and potential misuse concerns. These drugs require substantial investments in specialized facilities and rigorous employee training to meet safety and regulatory standards. Additionally, the limited number of approved drugs and high development costs pose challenges for manufacturers.

North America Leads High-Potency Drug Development Amidst Major Pharmaceutical Innovations

North America, particularly the United States and Canada, leads in the development and adoption of high-potency drugs due to its advanced healthcare infrastructure and high incidence of chronic diseases. The region’s competitive pharmaceutical environment, supported by regulatory bodies like the FDA, fosters continuous innovation and market expansion.

The market is dominated by major pharmaceutical companies such as Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., GSK plc., Pfizer Inc., AbbVie Inc., AstraZeneca plc, Merck & Co., Inc., Novartis AG, Bristol-Myers Squibb Co, Sanofi, Takeda Pharmaceutical Co Ltd., Eli Lilly and Company, Gilead Sciences, Amgen, and Bayer AG.

Recent developments in the market include the inauguration of a new S$44 million high-potency facility by GSK plc in Jurong, Singapore, dedicated to manufacturing critical cytotoxic components for antibody-drug conjugates used in cancer treatment. Additionally, Pfizer Inc. announced positive Phase 3 TALAPRO-2 study results for TALZENNA® (talazoparib) in combination with XTANDI® (enzalutamide) in men with metastatic castration-resistant prostate cancer, showing significant improvement in radiographic progression-free survival.

Market

Comprehensive Segmentation Drives Growth in Global High Potency Drug Market

The market is segmented by product type into innovative and generic drugs, by dosage form into injectables, oral solids, creams, and others such as foams, gels, and inhalation. It is also segmented by manufacturer type into in-house and outsourced, and by therapeutic area into oncology, hormonal imbalance, neurology, and others. Distribution channels include hospital pharmacies, retail pharmacies, and online pharmacies.

Geographically, the market is segmented into North America (US, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Southeast Asia, Rest of Asia Pacific), Latin America (Brazil, Argentina, Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, Rest of Middle East and Africa).

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The Global High Potency Drug Market is poised for substantial growth, driven by advancements in medical research and increasing demand for effective treatments. Despite regulatory and safety challenges, the market’s expansion reflects the ongoing innovation and commitment to addressing critical healthcare needs worldwide.

 

Resource: InsightAce Analytic, July 10, 2024

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