Home > Pressrelease > Leuprolide Acetate market size to surpass $3.5Bn by 2032
Leuprolide Acetate market size to surpass $3.5Bn by 2032
- Published Date: February 24, 2023
Leuprolide Acetate Market size is projected to exceed USD 3.5 billion by 2032, as per a new research report announced by Global Market Insights Inc.
Soaring drug-related R&D initiatives as the chief drivers of the leuprolide acetate industry trends. Prominent efforts of pharmaceutical and biotechnology companies to support the development of novel pharmaceuticals with the goal of meeting undiscovered medical needs are bolstering product landscape. Innovations in medications have become a major focus of pharmaceutical R&D, boosting market progress.
Surging prominence in cancer treatment to increase lyophilized powder industry
Leuprolide acetate market share from the lyophilized powder segment is likely to grow at a CAGR of 6% by 2032. Cumulative usage of lyophilized powder for the treatment of several life-threatening diseases, such as cancer, uterine fibroid, and so on, is poised to fuel product adoption. To quote an instance, the Lutrate Depot 22.5 mg lyophilized powder is used as a single intramuscular injection for three months for easy suspension in injections as part of prostate cancer treatment.
Increasing use in puberty suppression therapy to push intramuscular segment
The significant demand for intramuscular injections for therapeutic, pharmaceutical, and medical usage is foreseen to boost Intramuscular route of administration segment growth. A February 2023 study performed for puberty suppression in transgender and gender-diverse youth with subcutaneous Eligard and intramuscular Lupron found that 69% of biochemical suppression occurred in intramuscular Lupron with no hormonal progression.
Browse key industry insights spread across 320 pages with 345 market data tables & 18 figures & charts from the report, “Leuprolide Acetate Market Size By Application (Cancer [Prostate Cancer, Breast Cancer, Cervix Uteri, Ovary Cancer, Testis], Radical Prostatectomy, Central Precocious Puberty, Endometriosis, Hormone Therapy, Uterine Fibroids), By Product Form (Lyophilized Powder, Pre-Filled Syringes, Vials), By Route Of Administration (Intradermal, Intramuscular, Subcutaneous), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Rising awareness regarding uterus fibroids to augment hospital pharmacies segment
Leuprolide acetate market revenue from the hospital pharmacy segment registered USD 580 million 2022. The substantial demand for hormonal medication in hospital pharmacies as a result of the growing rate of cancer and uterine fibroid (UF) diagnosis in hospitals is fueling segment progress. As per statistics, approximately 70 to 80% of women develop UFs by the age of 50, needing hysterectomy procedures aided by either GnRH or leuprolide acetate.
Higher potency to accelerate product utilization for CPP treatment
Leuprolide acetate market value from the central precocious puberty segment to hit over USD 510 million by 2032. The surge in central precocious puberty, especially during the COVID-19 pandemic, has promoted the use of leuprolide acetate due to its long durability during therapeutic levels and 35 times potency compared to GnRH.
Prominent efforts by regulatory agencies to bolster Europe industry
Europe leuprolide acetate market to cross a valuation of USD 870 million by 2032. The region may emerge as a major hub for this industry owing to the rising prevalence of cancer and soaring adoption of effective expansion strategies by industry participants in European nations to enhance their business presence in the forthcoming years.
Efficient business development tactics to propel industry
Some key participants profiled in the report include Ferring B.V., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited., Beijing Biote Pharmaceutical Co., Ltd., Anhui Anke Bioengineering (Group) Co., Ltd., Eugia, and others.