The market is anticipated to expand quickly over the course of the forecast period as catharanthine is used as a medicine for cancer conditions.
Newark, Dec. 01, 2022 (GLOBE NEWSWIRE) — The Catharanthine market was estimated at around USD 746.5 million in 2021, growing at a CAGR of nearly 4.2% during 2022-2030. The market is projected to reach approximately USD 1,087 million by 2030.
Catharanthus roseus, a potent therapeutic plant for numerous pharmacological reactions like antibacterial, antioxidant, and antidiabetic impact, among others, contains an alkaloid known as catharanthine that was isolated from the plant. Vinblastine and vincristine, two anti-tumor medications, can be made from the essential molecule. Amylase is stimulated to release from pancreatic fragments, and the pancreatic acinar cells extensively degranulate as a result. In the medical and pharmaceutical fields, catharanthine has many uses. It is often used to treat children cancer.
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The expansion of the pharmaceutical and medical industries is the primary driver of the worldwide catharanthine market. The global healthcare expenditure currently accounts for 10.6% of the worldwide GDP and is projected to grow steadily by 5% over the following five years. Catharanthine has a lot of uses in the medical field.
By the end of the forecast period, it is expected that the rise in chronic diseases will have increased demand for pharmaceutical goods, which in turn would drive growth in the worldwide catharanthine market. The ageing population, shifting lifestyles, and rising levels of disposable income are a few more macroeconomic factors driving the worldwide catharanthine industry.
In 2020, there will be 10.3 million cancer-related deaths and 19.3 million new cases worldwide, according to the most recent forecasts from the IARC (International Agency for Cancer and Research). According to the National Cancer Institute, 1,806,590 new cases of cancer were reported in the country, and 606,520 people died from the disease. According to reports, 16.9 million people in the US had survived cancer as of January 2019. The estimated number of cancer survivors by the year 2030 is 22.2 million. A diagnosis of cancer will be given to roughly 39.5% of men and women at some point in their lifetime. According to estimates, the predicted national cost of cancer care in 2020 would be USD208.9 billion, an increase of 10% above the cost from the previous year that can only be ascribed to the ageing and population growth of the US. The use of catharanthine as a cancer treatment will drive the market to grow over the expected time period.
With the technological developments made by the majority of worldwide manufacturers, the catharanthine market is predicted to expand. In the upcoming years, it is anticipated that a growing number of players would invest in the catharanthine production.
The market for catharanthine market is segmented into the type, and application. According to the type, the catharanthine sulphate segment is expected to increase at the quickest rate. An anticancer alkaloid of the vinblastine type, catharanthine sulphate, is one of its precursors. By shutting down ion channels and desensitizing the AChR, it functions (Acetylcholine Receptor). It is a naturally occurring alkaloid that prevents microtubule structures from forming and results in cell death.
The pharmaceutical segment is anticipated to hold major share in the catharanthine market by application during the forecast period. According to the International Agency for Research on Cancer, there were approximately 10.0 million cancer deaths and 19.3 million new cancer cases worldwide in 2020. One in five people will develop cancer at some point in their lives, and one in eight men and one in eleven women will pass away from it. According to these latest projections, more than 50 million people are still alive five years after receiving a cancer diagnosis. As a result, there will be an increase in demand for catharanthine during the projection period due to the alarming cancer cases and fatalities worldwide.
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The biggest market share of the total market was held by the North America in the catharanthine market. Due to its growing contribution to and dominant position in the global pharmaceutical sector, North America currently controls the majority of the catharanthine market. This is often because the US pharmaceutical industry plays such a significant role. Breast cancer, lung cancer, and colorectal cancer are the most prevalent malignancies in men and women between the ages of 18 and 49 in the United States, respectively. These cancers are also among those with the fastest rate of increase in younger populations.
The market for catharanthine is anticipated to develop at the fastest rate in the Asia Pacific region. This is mostly a result of the expanding pharmaceutical sector in developing nations like China and India.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Market Size(unit)||USD Million|
|Catharanthine Market CAGR||4.2%|
|Segments Covered||By Type
List of the prominent players in the Global Catharanthine market:
• AK Scientific Inc
• Hainan Yueyang Biotech Co Ltd
• Stanford Chemicals
• Cayman Chemicals
• Bio Vision Inc
• Enzo Biochem Inc
The global Catharanthine market is segmented as follows:
• Catharanthine sulphate
• Catharanthine tartrate
• Food and Beverages
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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