Hydroxycarbamide Market

The hydroxycarbamide market was valued at USD1,145.4Mn by 2019. Rising prevalence of blood malignancies such as sickle cell disease and chronic myeloid leukemia worldwide primarily drives the hydroxycarbamide market growth. Researchers are trying to understand the mechanism of action of hydroxycarbamide in the treatment of psoriasis which is providing positive results in the study of the clinical trial will further accentuate the hydroxycarbamide market growth.

Hydroxycarbamide is popularly known as hydroxyurea, the exact mechanism of action in the treatment of sickle cell disease is not known, but it is believed to increase the fetal hemoglobin concentration. It increases the nitric oxide levels thereby increasing the cyclic GMP levels to activate gamma-globin gene expression which is essential for the production of fetal hemoglobin. It is a potent antineoplastic agent that needs to be taken under medical supervision to negate drug-related adverse effects such as nausea, vomiting, headache, dizziness, etc.

The major segments related to the hydroxycarbamide market are:

By Application (2017–2027; US$ Mn)

Sickle Cell Disease

Myeloproliferative Disease

Psoriasis

Others

By Distribution Channel (2017–2027; US$ Mn)

Hospital Pharmacy

Retail Pharmacy

Others

Geography Segment(2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Russia
France
Italy
Spain
Ukraine
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA 

Justification for study?

• The intention of the study is to give a comprehensive outlook of the global hydroxycarbamide market
• The overall segmentation of the hydroxycarbamide market, by application, distribution channel, and geography is minutely studied. Sickle cell disease and hospital pharmacy are dominating the application and distribution channel segments respectively
• The constant rise in the number of patients suffering from sickle cell disease chiefly determines the hydroxycarbamide market
• Significant increase in the number of myeloproliferative disease cases will further boost the hydroxycarbamide market

Report gist?

• The study of the global hydroxycarbamide market includes qualitative analysis of factors such as drivers, restraints, and opportunities
• The report covers qualitative and quantitative analysis of the overall market segmented on the basis of application and distribution channel and categorization of the same at the geography level
• This research report presents the analysis of each segment from 2017 to 2027 in which 2019 is considered as the base year. Compounded annual growth rate is calculated for the respective segments from 2020 to 2027
• The study includes the profiles of major market players with a significant global and regional presence along with top company positioning

Significant customers?

• This study is suitable for industry participants and stakeholders in the pharmaceutical companies engaged in the manufacturing and marketing of hydroxycarbamide which is gaining huge traction due to its ability to treat sickle cell disease and myeloproliferative disease
• The report will benefit researchers engaged in the clinical application of hydroxyurea for the treatment of psoriasis
• Managers with financial institutions looking to publish recent and forecasted statistics pertaining to hydroxycarbamide market
• Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Sickle cell disease is ruling the application segment for the hydroxycarbamide market. As per the research citings provided by the World Health Organization (WHO), approximately 5% of the global population is a healthy carrier of the gene which is associated with sickle cell disease. It is an inherited disorder in which there are not enough healthy red blood cells to carry oxygen in different parts of the human body. Myeloproliferative diseases such as chronic myeloid leukemia, polycythemia Vera, etc. are anticipated to be the fastest-growing application segment in the near future on account of diligent research and development conducted by the pharmaceutical companies in harnessing the therapeutic efficacy exhibited by hydroxycarbamide as a potent antineoplastic agent.

Hospital pharmacy is presently dominating the distribution channel segment for the hydroxycarbamide market. It is an antineoplastic agent that requires precise compounding by the hospital pharmacist in order to prevent the occurrence of any drug-associated side effects. It is a highly toxic drug molecule that needs to be taken under medical supervision. The retail pharmacy distribution channel segment is booming in the developing regions on account of its ability to sell different generic versions of hydroxycarbamide at attractive prices and caters to the medical requirement of potential customers in the remote locations.

North America is representing the largest market in the geography segment for the hydroxycarbamide market. The rising prevalence of sickle cell disease chiefly drives the hydroxycarbamide market growth in the region. According to the latest information brought forward by the Center for Disease Control and Prevention (CDC), sickle cell disease affects approximately 100,000 Americans, the incidence rate is 1 in 365 African-American births, and 1 in 16,300 Hispanic-American birth, etc. Affordable reimbursement scenario and domicile of major players such as Bristol Myers Squibb & Company, Apotex Corporation, Par Pharmaceuticals, Addmedica, etc. further bolster the hydroxycarbamide market growth in the region. Europe is in the 2nd position in the regional segment for the hydroxycarbamide market. As per the research citings presented by the European Commission report the prevalence rate of chronic myeloid leukemia is 1 in 17,000 people in the European Union region. Additionally the strategic collaboration between academic research institute and pharmaceutical companies in understanding the clinical application of hydroxyurea in treating psoriasis further consolidates its market growth in the region. Asia Pacific is anticipated to be the fastest-growing regional segment on account of the rising prevalence of cervical cancer in women population and the presence of a well-developed generic drug market in the Asia Pacific region.