Global Sirolimus Market Overview
The key driver impacting the sirolimus market is the growing organ transplantation procedures, specifically kidney transplants and liver transplants procedures across the globe. the growing organ transplantation procedures are estimated to boost market demand in the coming years as sirolimus is an anti-rejection drug, majorly utilized to lower the body's ability to reject a transplanted organ. For instance, According to Global Observatory on Donation and Transplantation around 146840 organs transplanted annually are recorded in 2018 with an increase of 5.6% in 2017. In 2018, around 8, 311 heart transplants performed, 2 338 pancreatic transplants performed and, 95 479 kidney transplants performed of which 36.2% are from living donors. Moreover, technological advancements in organ transplantation are also estimated to be a significant determinant that adds growth to the market. Whereas with regards to volume,the market was calculated XX Metric Kilo Tons in 2019 and foreseen to grow with a CAGR of XX% during 2020-2026.
According to Value Market Research, the global sirolimus market was valued at around USD 265 million in 2020 and is estimated to grow at a CAGR of about 1.75% during the forecast period of 2020 to 2026.
The growing cases of target diseases and the increasing number of lifestyle-related disorders such as obesity, diabetes, and stress are estimated to improve market demand in the forecast period. for instance, according to the centers for disease control and prevention’s 2020 national diabetes statistics report, there are 34.2 million people in the United States who are living with diagnosed or undiagnosed diabetes in 2018. Among them, around 95% of people are diagnosed with type 2 diabetes. also, a health data organization report shows that around 2.1 billion people (approx. 30% of the total world's population) are either obese or overweight globally in 2015. however, side effects associated with the sirolimus may hamper the global sirolimus industry in the long run. also, the lack of quality control across developing countries is negatively impacting the growth of the market. the current industry trends, such as growing therapeutic uses of sirolimus, promising pipeline of drugs, and advancement in health care infrastructure, are expected to provide beneficial market opportunities for the market players.
The sirolimus market is vast, with many local and global players. The key leaders follow several strategies to improve their market position, such as acquisitions, mergers, expansions, product innovations, and extending product portfolio, to enhance their market share globally. the key players included in the report Biocon, Pfizer, Inc, Concept Medical, Stentys SA, Dr. Reddy's Laboratories Ltd, Torrent Pharmaceuticals Ltd, Intas Pharmaceuticals Ltd, T Concord Biotech, and Zydus Cadila.
In this research report, the sirolimus market is segmented by application, distribution channel, and region.
Analysis by Application:
By application, the report is categorized into organ transplant rejection, sirolimus coated balloons & catheter devices, and lymphangioleiomyomatosis (LAM). the organ transplant rejection segment dominates the application segment with a 30% market share in 2020. It is due to a rise in the number of organ transplants. For instance, according to the World Health Organization (WHO), approximately 100,800 solid organ transplants are performed every year globally. In which 69,400 kidney are transplants, 20,200 are liver transplants, 5,400 are heart transplants, 2,400 pancreas transplants, and 3,400 are lung transplants. Moreover, technological advancement and rise in healthcare spending are contributing to the vast market demand in the forecast period.
Analysis by Distribution Channel:
By distribution channel, the report is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominates the distribution channel segment with a 45% market share in 2020. It is due to the growing demand from hospital pharmacies as there is a significant rise observed in the number of organ transplants surgeries in hospitals. moreover, the increasing preference of consumers to buy drugs and medicines from hospital pharmacies because it provides better health insurance benefits and vacation time, thus contributing to the hospital pharmacies segment's growth in the forecast period.
Analysis by Region:
In the regional outlook of the global sirolimus market, the North America region dominates with a 33% market share during the forecast period. The high volume of organ transplants, For instance, According to the U.S. government information on organ donation and transplantation, around 109,000+ men, women, and children were on the national transplant waiting list as of september 2020. In 2019 there were 39,718 transplants were performed. In every 9 minutes, another person is added to the transplant waiting list. The rising incidence of chronic diseases, and favorable reimbursement policies in the U.S. also add growth to the sirolimus market in North America. Moreover, the technological advancements in organ transplantation, increasing healthcare spending, and the presence of well-established healthcare infrastructure contribute to the development of the sirolimus market across North America.
Market Segmentation covered in the Report:
By Distribution Channel
- Organ Transplant Rejection
- Lymphangioleiomyomatosis (LAM)
- Sirolimus Coated Balloons & Catheter Devices
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.