by Leuprolide acetate, sold under the brand names Lupron, Eligard, and Viadur among others, is a gonadotropin-releasing hormone agonist prescribed to treat prostate cancer, breast cancer, endometriosis, uterine fibroids and central precocious puberty.
The market has seen steady growth owing to the increasing prevalence of prostate cancer globally. Prostate cancer is one of the most common types of cancer affecting men worldwide. According to WHO, prostate cancer accounted for 1.3 million cases and 359,000 deaths globally in 2020. Additionally, rising awareness regarding the availability of effective drug therapies and growing geriatric population susceptible to cancer are further fueling the demand for leuprolide acetate. The Global Leuprolide Acetate Market is estimated to witness high growth over the forecast period owing to the increasing R&D investments by key players to develop more effective drug delivery systems.
Global leuprolide acetate market is estimated to be valued at USD 3.82 Billion in 2024 and is expected to reach USD 5.81 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Key Takeaways
Key players operating in the Leuprolide Acetate market are Sun Pharmaceutical Industries Ltd., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Ferring Pharmaceuticals, GSK (GlaxoSmithKline), Bayer AG, Pfizer Inc., Hikma Pharmaceuticals PLC, AurobindoPharma, Amgen Inc., EMD Serono, Inc., Novartis AG, Sandoz International GmbH, Apotex Inc., Fresenius Kabi AG, Bausch Health Companies Inc., Hetero Labs Limited, ZydusCadila, and Cipla Limited. These players are focusing on new product approvals and launches to strengthen their market position.
The key opportunities in the Leuprolide Acetate Market Growth include increasing research on peptide-drug conjugations and nanoparticle-based drug delivery to reduce side-effects and enhance therapeutic efficacy of leuprolide acetate. In addition, the market sees opportunities for growth in developing regions owing to rising healthcare spending.
The Leuprolide Acetate market is witnessing strong growth in North America and Europe owing to well-developed healthcare infrastructure and reimbursement facilities in these regions. However, Asia Pacific region is expected to exhibit highest growth during the forecast period supported by growing medical tourism, increasing disposable incomes, and expanding generic drugs market in emerging countries like China, India, and Japan.
Market Drivers
The growth of the Leuprolide Acetate Companies can majorly be attributed to the rising geriatric population and increasing disease awareness. Older population is more prone to develop cancer due to age-related weakening of immunity. According to WHO, the 65-years-and-above age group’s share of the world’s population is projected to rise from 7% to 16% between 2015 and 2050. This is expected to significantly increase the patient pool requiring leuprolide acetate therapy during the forecast period.
PEST Analysis
Political: The market is influenced by regulatory guidelines on manufacturing and marketing of drugs. Changes in drug approval policies across regions can impact the demand.
Economic: Any fluctuations in the overall economy affecting healthcare spending of consumers and governments will directly impact the demand for Leuprolide Acetate drugs.
Social: With increasing awareness about prostate cancer and endometriosis, the social demand for effective treatment is on the rise. Population growth and aging population drives the need for such drugs.
Technological: Advancements in drug delivery systems help in improving efficacy and safety profile of Leuprolide Acetate drugs. Ongoing R&D is focused on developing novel delivery mechanisms like implants that provide sustained release of the drug.
Geographical concentration
North America region accounts for the largest share of the overall market value owing to high diagnosis and treatment rates for conditions like prostate cancer and endometriosis. Favorable reimbursement policies and presence of major manufacturers in the US and Canada boosts market growth.
Fastest growing region
The Asia Pacific Leuprolide Acetate market is poised to witness highest growth during the forecast period. This can be attributed to rising healthcare spending, growing medical needs of expanding patient pool, and increasing focus of international players to tap opportunities in emerging countries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
