by Tacrolimus, an immunosuppressant drug, is used to prevent rejection of transplanted organs such as kidney, liver, heart along with bone marrow transplants. It suppresses the body’s immune system which mistakens the new organ as a foreign entity and hence tries to attack it. The demand for tacrolimus is driven by factors such as growth in aging population increasing instances of end-stage organ failure, technological advancements in transplantation surgery procedures, and shortage of donor organs.
The Global Tacrolimus Market is estimated to be valued at US$ 7822.21 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Tacrolimus market are Domtar Corporation, Medline Industries Inc., Cardinal Health, Attends Healthcare Products Inc., Kimberly-Clark Corporation, Dynarex Corporation, Tanga.com, Sarasota Medical, SCA, First Quality Enterprises Inc., Prevail, Cypress Medical Products LLC, Shield Healthcare LLC, 3M, McKesson Corporation, Ontex.
The key opportunities in the market include development of novel tacrolimus formulations to improve patient adherence and compliance. Increasing healthcare spending in developing countries and expansion of medical tourism are also expected to present lucrative opportunities.
Globally, North America dominates the Tacrolimus Market Demand owing to presence of major players, high healthcare expenditure, and favorable reimbursement policies. However, Asia Pacific is expected to witness highest growth rate over the forecast period due to increasing awareness, healthcare infrastructure developments and expanding patient pool.
Market Drivers
The major driver for tacrolimus market is rising number of organ transplantation procedures across the globe. As per the data, in the U.S. alone over 40,000 transplantations are performed annually. Growing prevalence of chronic diseases such as liver cirrhosis, renal failures along with increasing aged population base are some of the factors fueling organ transplant demand. Tacrolimus acts as a key immunosuppressant in post-transplantation treatment regime contributing significantly to its sales.
PEST Analysis
Political: The market is influenced by stringent regulations imposed by regulatory bodies like the USFDA to ensure safety and quality of the drugs. Tacrolimus being an immunosuppressive drug requires careful examination of manufacturing processes by regulatory agencies.
Economic: Economic growth and rising healthcare spending are positively impacting the market growth. Rising cases of organ transplants are key factors fueling demand. However, high price of tacrolimus drugs acts as a restraint.
Social: Increasing prevalence of chronic diseases and growing organ donor requests are leading to surge in organ transplant procedures boosting demand. Growing awareness about organ donation and transplantation encourages people to donate and receive organs.
Technological: Developments in drug delivery techniques help improve drug performance and patient compliance. Continuous R&D efforts are undertaken to develop novel formulations improving bioavailability and reducing dosing frequency.
The Asia Pacific region currently accounts for the largest share of the global tacrolimus market in terms of value owing to high rates of organ transplants performed and rising healthcare spending. China dominates the APAC market on account of growing cases of end-stage organ failures and increasing availability of medical reimbursements.
North America is recognized as the fastest growing regional market and is expected to maintain its position over the forecast years. Increasing kidney transplant procedures along with approved therapeutics are factors supporting market growth in the region. In addition, well-established healthcare infrastructure and reimbursement coverage aid market expansion in North America.
