Mycophenolate Mofetil Market Size, Share, Growth, and Industry Analysis by Type (Capsule, Tablet, Suspension, and Injection) By Application (Heart transplant, Liver transplant, Kidney transplant, and Others), Regional Insights, and Forecast From 2024 To 2031

Mycophenolate Mofetil Market Report Overview

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The global mycophenolate mofetil market size was USD 1487.9 million in 2021 and is expected to reach USD 2735.54 million in 2031, exhibiting a CAGR of 6.28% during the forecast period.

A drug called mycophenolate mofetil is used to treat blood malignancies such as myeloid leukemia. It functions by halting the development of cancer cells. Every two weeks, mycophenolate mofetil is often administered as an injection. It can also be administered orally or as a pill. To stop the body from rejecting a transplanted kidney, heart, or liver, mycophenolate mofetil is utilized. It is used with corticosteroids and ciclosporin.

Mycophenolate is a member of the immunosuppressant drug class, which is typically used with other medicines to stop the body from fighting and rejecting the transplanted organ, which may be the liver, kidney, or even the heart. Mycophenolate mofetil is typically used to stop acute allograft rejection because it is thought to be an efficient lymphocyte proliferation inhibitor. As a glucocorticoid lowering agent, mycophenolate mofetil is frequently used to treat a variety of rheumatic conditions, including systemic sclerosis, systemic lupus erythematosus, and some forms of systemic vasculitis. The increasing prevalence of inflammatory myopathy, systemic sclerosis, systemic lupus erythematosus, and certain systemic vasculitis among the world's population is largely responsible for the expansion of the mycophenolate mofetil market.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with mycophenolate mofetil experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

In 2020, the COVID-19 pandemic had a small negative impact on the mycophenolate mofetil market's expansion in a number of ways. Due to supply chain interruptions, transportation restrictions, and staff shortages, the global lockdown imposed during the Coronavirus (COVID-19) pandemic had a substantial impact on the global pharmaceutical industry. As the industry altered its attention and gave priority to infectious diseases, respiratory disorders, and vaccines, the number of productive clinical trials and R&D projects in therapeutic areas like diabetes, hypertension, and others fell. During the anticipated period, these issues are anticipated to restrain the mycophenolate mofetil market's ability to increase revenues.

LATEST TRENDS

"Rise in Organ Transplantation to Boost Market Growth"

Autoimmune illnesses are becoming more and more common on a global scale. In the upcoming years, this is anticipated to fuel the need for mycophenolate mofetil. The rise in autoimmune disorders, the number of organ transplants, and technological developments in the field of transplantation are all factors contributing to the mycophenolate mofetil market's expansion.Increasing public knowledge of mycophenolate mofetil Healthcare professionals and people are becoming more knowledgeable about the advantages of mycophenolate mofetil therapy. In the upcoming years, this is probably going to increase the demand for this drug. Because of the rising incidence of organ failure and the scarcity of donor organs, the number of organ transplants is fast increasing worldwide. Mycophenolate mofetil will probably see a spike in demand as a result in the near future.

Mycophenolate Mofetil Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Capsule, Tablet, Suspension, and Injection. Due to their simplicity of use and excellent patient compliance rates, capsules are anticipated to dominate the mycophenolate mofetil market share.

• By Application Analysis

Based on application, the market is segmented as follows: Heart transplant, Liver transplant, Kidney transplant, and Others. A heart transplant is anticipated to be the application with the highest volume due to the significant demand for mycophenolate mofetil as a preventative medication against episodes of rejection. With a revenue share of almost 40%, the heart transplant segment dominated the mycophenolate mofetil market share as a whole.

DRIVING FACTORS

"Growing Need in the Pharmaceutical and Healthcare Sectors to Facilitate Market Development"

Mycophenolate mofetil comes in a variety of forms on the Mycophenolate mofetil market, including pills, capsules, injectables, and suspensions. Global demand for high-quality capsules is probably driven by the growing need in the pharmaceutical and healthcare sectors. According to the National Center for Biotechnology Information (NCBI), the incidence of acute graft rejection has decreased as a result of the availability of new immunosuppressants such as mycophenolate mofetil. It has been discovered to be helpful in both treating and avoiding acute and chronic rejection after transplantation. In addition to transplant, it has been successfully used in autoimmune illnesses such as systemic lupus erythematosus and other primary and secondary glomerulopathies.

"Increasing Public Knowledge of Mycophenolate Mofetil to Promote Industry Progress"

Recent technological developments in transplant surgery, including minimally invasive techniques, are helping to raise the success rates of transplant surgeries, which is increasing the demand for mycophenolate mofetil globally. This substantial income creation can be attributable mostly to the rise in awareness of this medicine among surgeons and physicians involved in these operations, as well as the global increase in the number of cardiac operations. Over the next years, growth is also anticipated to be fueled by expanding R&D projects for creating generic medications that are affordable.

RESTRAINING FACTORS

"Several Side Effects of Mycophenolate Mofetil to Hinder Market Growth"

Indigestion, nausea, vomiting, and muscle aches are common adverse drug reactions; infections, leukopenia, or anemia are signs of the drug's immunosuppressive and myelosuppressive effects. Additional prevalent medication side effects include fatigue, migraines, coughing, and/or breathing issues. Administration of mycophenolate mofetil intravenously (IV) is frequently associated with thrombophlebitis and thrombosis. Mycophenolate mofetil should be avoided by women trying to get pregnant whenever possible because it has been associated with miscarriage and congenital defects when consumed during pregnancy. The above-mentioned factors restrain the Mycophenolate mofetil market growth.

Mycophenolate Mofetil Market Regional Insights

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"Increase in Demand to Propel Market Progress in North America"

In terms of revenue share in 2021, North America dominated the worldwide mycophenolate mofetil market. Due to factors including advantageous reimbursement rules, growing public awareness of organ donation, and rising healthcare costs, the region is predicted to maintain its leadership over the projected period as well. Additionally, it is anticipated that regional mycophenolate mofetil market growth would be fueled by the rising need for immunosuppressants as a result of different chronic diseases that are common in animals throughout the projected period.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

LIST OF TOP MYCOPHENOLATE MOFETIL COMPANIES

• Par Pharmaceutical (U.S.)
• West Ward Pharmaceuticals (U.S.)
• Mylan (U.S.)
• Jubilant Cadista (U.S.)
• Teva (Israel)
• Alkem Laboratories (India)
• Strides Pharma (India)
• Genentech (U.S.)
• Accord Healthcare (U.S.)
• Sandoz (Switzerland)
• Akorn (U.S.)
• Passauer Pharma GmbH (Germany)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.