The rising prevalence of chronic diseases such as Wilson's disease and rheumatoid arthritis with aging global population is driving the global penicillamine market.
The global Penicillamine market is expected to develop US$ 854.5 Mn by 2030, at a compound annual increase in price (CAGR) of 6.2% throughout the forecast period.
Covid-19 Impact & Market Status
The emergence of the global pandemic, COVID-19, has triggered global Penicillamine market worldwide supply chain, as well as the whole drug input value chain, from raw material acquisition through processing, packaging, and distribution. Due to COVID-19, there has been a ripple effect on the drug manufacturing business. To reduce the expense of middlemen and boost profit margins, most dairy firms have embraced a direct distribution route for Penicillamine. Due to the pandemic purchasing behaviour among customers, retail sales of Penicillamine increased in the early days of the pandemic. However, pandemic impact is decreased and countries are returning to pre-pandemic level the global Penicillamine market has progressed and sales of Penicillamine have increased.
The global penicillamine market is a specialist and in-depth examination of the Pharmaceutical sector, with an emphasis on worldwide market trend analysis. The report's goal is to give a comprehensive analysis of the Penicillamine market, including product and application segmentation.
The study highlights and profiles the major types of penicillamine by region and by end market. It provides extensive analysis of the market regions included in the report along with their sectoral analysis, important market dynamics, end use markets, economical and technological influence on the sectors, and factors important to influence buying decisions. The report provides this analysis taking into consideration the qualitative and quantitative data including dynamic charts easy to interpret the data. The report highlights the penicillamine industry market forecasts from 2022 to 2029 considering the volume and value of the specific region or segment.
Penicillamine Tablets Exhibit Greater Acceptance Owing to Compact Design and Higher Affordability
Owing to multiple advantages such as higher shelf life and the ability to store larger amounts of active ingredients in a compact structure, penicillamine tablets have been exhibiting higher acceptance in recent years. The trend is anticipated to continue well ahead in the projected timeline as well. Also, factors such as affordability, compact form, ease of use, and seamless breakdown in the digestive tract make penicillamine tablets a lucrative segment.
Wilson's Disease and Rheumatoid Arthritis to Remain Chief Application Segments for Penicillamine
Contrary to previous scientific studies that suggested approximately one out of 30,000 may likely be affected by Wilson's disease, recent studies such as the latest survey done in the UK suggest that owing to gene mutations, occurrences of Wilson's disease may be more frequent, resulting in one affected in 7,000 people. Therefore, based on application, penicillamine is highly recommended for Wilson's disease to stop fatal conditions and organ failures among patients. However, other conditions such as rheumatoid arthritis which is also becoming very common are also a potential application area. New and advanced studies are underway to prove the efficacy of penicillamine for the condition. In the forthcoming years, penicillamine may also be highly potent for rheumatoid arthritis.
Europe & North America to Continue their Growth Exuberance
Hospitals are likely to sustain the highest market share in the coming years owing to growing patient pools and systematic awareness about care delivery in hospitals. Also, developed regions such as North America and Europe to guard their regional revenue attraction owing to improved healthcare facilities, funding, progressive R&D expeditions, and patient awareness. Also, several frontline players of the penicillamine market are housed in the regions, which is also contributing to regional growth.
Owing to benefits such as decrease in pain, swelling, and tenderness resulting from rheumatoid arthritis, efficient removal from unwanted substances from the body, removal of excess copper, prevention from building kidney stones, the penicillamine is experiencing rapid adoption as opposed to other alternatives thus fostering remarkable progress in global penicillamine market.
The development of a strong pipeline of innovative therapeutic compounds to treat illnesses and disorders is projected to drive market growth throughout the forecast period. Penicillamine's possible negative effects, on the other hand, are projected to limit market growth throughout the projection period.
The global penicillamine market is estimated to reach close to US$ 90 Million with an annualized growth rate of 1.4% through the forecast period 2022-2029.
Wilson's illness is treated with a drug called penicillamine. Wilson's illness is a disorder in which the body is unable to metabolise copper, resulting in copper toxicity. Kidney stones, heavy metal toxicity, and rheumatoid arthritis are all treated with penicillamine. Bone marrow suppression, vomiting, diarrhoea, hepatotoxicity, idiosyncrasy, and aplastic anaemia are some of the adverse effects of penicillamine.
The factors such as growing aging population, increasing cases of Wilson's disease and rheumatoid arthritis, kidney stones, and other chronic diseases along with novel therapeutic agents brought by manufacturers to treat diseases and disorders is driving the demand of penicillamine furthering the global penicillamine market.
However, side effects faced by patients are leading to significant reduction in demand of penicillamine and increasing demand for other substitute drugs is hampering the global penicillamine market.
Furthermore, the new product launches, significant investments for research and development of innovative drugs leading to development of new drug lines, growing aging population and occurrence of chronic illness is anticipated to be growth opportunity for the global penicillamine market.
The following is a list of a few firms that are active in the global Penicillamine market are Lupin, McKesson Corporation, SG Pharma, Aurobindo Pharma, Apicore LLC, Taj Pharma, Kadmon Holding, Noble Pharma, Wilson's Therapeutics, Teva Pharmaceuticals USA, VHB Life Science, Merck & Co, Tsumura, and Valeant Pharmaceuticals International among others.
Latest Innovations in the Penicillamine Market: A Snapshot
- In April 2022 penicillamine market participant, Breckenridge Pharmaceutical has stated that it has recently diversified its portfolio of penicillamine capsules with the addition of Penicillamine Capsules, USP, the generic version of Cuprimine®. This latest initiative has been spearheaded by Breckenridge Pharmaceutical in association with Aggrega Pharma. The product will be solely commercialized by the former.
- Lately in the month of April 2022, pharma company Granules India has bagged the USFDA nod for its penicillamine capsule, a generic form of Bausch Health America's Cuprimine. The development is a milestone to improve care delivery for rheumatoid arthritis and Wilson's disease, especially among cases that have failed responses to the traditional line of treatment.
Penicillamine Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 90 Million.|
|Growth Rate||CAGR of 1.4% during 2021-2028|
|Segment Covered||Type, Application, End-User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Lupin, McKesson Corporation, SG Pharma, Aurobindo Pharma, Apicore LLC, Taj Pharma, Kadmon Holding, Noble Pharma, Wilson's Therapeutics, Teva Pharmaceuticals USA, VHB Life Science, Merck & Co, Tsumura, and Valeant Pharmaceuticals International among others.|
Key Segments of the Penicillamine Market
Type Overview, 2019-2029 (USD Million)
- Penicillamine Capsule
- Penicillamine Tablet
Application Overview, 2019-2029 (USD Million)
- Wilson’s Disease
- Arsenic Poisoning
End-User Overview, 2019-2029 (USD Million)
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa