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.
The increasing incidence of prostate cancer and endometriosis has been fueling for Leuprolide Acetate Market Demand significantly. According to the National Cancer Institute, prostate cancer is the second most common cancer in men globally. Moreover, endometriosis affects over 190 million women worldwide during their reproductive years.
Key players are focusing on geographical expansion and capacity enhancement to strengthen their position in the market. For instance, in April 2021, Sun Pharma announced plans to enhance its injectable capacities across India, Europe, and America by 60% over the next two years.
Market drivers
The key driver of the Leuprolide acetate market has been the rising prevalence of prostate cancer and endometriosis globally. According to the World Cancer Research Fund International, prostate cancer incidences vary widely across the world and are highest in developed countries like Australia and New Zealand. Furthermore, growing awareness about treatment options and demand for effective therapies have also contributed to the growth of the market over the years.
The current geopolitical situation is significantly impacting the Leuprolide Acetate market growth. The volatile political environment and ongoing global supply chain disruptions caused by the Russia-Ukraine war have created massive uncertainties. Manufacturers are facing difficulties in procuring raw materials due to export restrictions and shipping delays. This is hampering production volumes and the ability to fulfill existing orders. Rising energy and transportation costs are also pushing up production costs, forcing companies to hike prices. However, increased prices at a time when economic growth is slowing may dampen demand. Additionally, political instability and regional conflicts in other parts of the world are contributing to a risk-averse business environment, discouraging investments and new product launches. To drive future growth, manufacturers will need to diversify their supply networks, establish local production facilities, and form strategic partnerships to address disruptions more effectively.
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