Palonosetron hydrochloride is a hydrochloride salt of carbazole derivative, palonosetron. It is a chemical compound used to prevent and treat chemotherapy induced vomiting and nausea.
Palonosetron hydrochloride works by blocking the action of serotonin in chemoreceptor trigger zone, a zone located on medulla oblongata outside the blood brain barrier. Palonosetron hydrochloride is the most effective antagonist of 5-hydroxytryptamine type 3 receptors which are located in the chemoreceptor trigger zone.
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The most side effects observed of the palonosetron hydrochloride are headaches, constipation together with muscle pain atrioventricular block and sleeplessness. The oral route of administration of palonosetron hydrochloride is considered less effective as compared to the intravenous route of administration.
COVID-19 impact crisis has been unprecedented and has affected all the industries. The global market for palonosetron hydrochloride will also be affected by COVID-19. The effect can be in terms for supply chain disruption, logistical bottlenecks due to uncertain regulatory regimes adopted by various countries to contain the pandemic.
Palonosetron Hydrochloride Market: Drivers and Restraints
The growing incidence of cancer cases worldwide is the major market driver for the global palonosetron hydrochloride market in the forecast period of 2020-2030. Chemotherapy continues to remains the most common treatment for the cancer cases which in turn will boost the global palonosetron hydrochloride market.
There is a general preference for 5-hydroxytryptamine type 3 receptors antagonist drugs as compared to the other type of drugs for treating chemotherapy induced vomiting and nausea. This will consequently result in the growth of the global palonosetron hydrochloride market.
Although chemotherapy is the most sought after treatment for cancer it is very painful and is accompanied by serious side effects. This has encouraged researchers to develop new alternate forms of treatment for cancer. The ongoing research for alternate drugs can thus slow the growth of palonosetron hydrochloride market.
The high costs involved in cancer treatment discourage people from choosing chemotherapy in developing world. This in turn could result in hindrance in growth of the global palonosetron hydrochloride market.
Palonosetron Hydrochloride Market: Overview
The global palonosetron hydrochloride market can be expected to grow steadily because as per the World Health Organization estimates the global death due to cancer are estimated to be 13 million by the end of 2030. Based on the route of administration intravenous segment can be estimated to register a sturdy growth owing to its greater preference among the medical specialists.
Based on the distribution channel the hospital pharmacies can be expected to grow steadily in the global palonosetron hydrochloride market considering the fact that these drugs are administered under medical specialist’s supervision.
Palonosetron Hydrochloride Market: Region-wise Outlook
North America will be the dominant market in the global palonosetron hydrochloride market owing the continuous growing number of cancer cases which are expected to reach 23.6 million by the end of 2030 as per the government estimates.
Europe will be the next lucrative market in the global palonosetron hydrochloride market based on the fact that growing number of people are able to afford cancer treatment in the Western European region. Latin America will the new emerging market in the global palonosetron hydrochloride market as the number of cancer cases are expected to increase by a staggering 67%.
Asia in general will be a very lucrative market in the global palonosetron hydrochloride market owing to its large population density and both South Asia and East Asia have high burden of cancer cases among the total cancer cases in the world.
Palonosetron Hydrochloride Market: Key Players
The key market players operational in the global palonosetron hydrochloride market are
- Merck
- Wavelength
- Farmihispania Group
- ALP Pharm
- Shanghai Jinhe Bio-Pharmaceutical Co. Ltd.
- Tecoland
- Qilu Pharmaceutical
- Teva api
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