Metal in Medicine Market Industry Set to Witness Explosive Growth by 2030

Written by Harsh » Updated on: November 19th, 2024

According to the Market Statsville Group (MSG), the Global Metal in Medicine Market is estimated to grow at a CAGR of 12.4% from 2022 to 2030. Metals in medicine play a crucial role; they assist in pain management, restrict disease prevalence, and boost immunity and other factors. Copper, zinc, and sodium are widely used metals in medicines due to their medicinal properties. Factors such as surging investment in drug development and R&D and increasing use of metals to manage cancer drive the market’s growth at the global level. However, counterfeit products containing heavy metals may hamper the market’s growth.

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Scope of the Global Metal in Medicine Market

On the basis of the study, the metal in medicine market is categorized into the following segments: metal type, administrative route, form, purchase type, and application at the regional and global levels.

By Metal Type Outlook (Sales, USD Million, 2017-2030)

Copper

Sodium

Gold

Zinc

Silver

Other

By Administrative Route Outlook (Sales, USD Million, 2017-2030)

Oral

By Form Outlook (Sales, USD Million, 2017-2030)

Liquid

Powder

Tablet

By Application Outlook (Sales, USD Million, 2017-2030)

Fatigue and Dysentery

Crohn’s disease

Down syndrome

Hansen’s disease

Alzheimer’s disease

Ulcerative colitis or inflammatory bowel disease

Attention deficit-hyperactivity disorder (ADHD)

Hypogeusia

Cancer

Others

By Purchase Type Outlook (Sales, USD Million, 2017-2030)

Over the counter

Prescribed Drugs

By Region Outlook (Sales, USD Million, 2017-2030)

North America

Canada

Mexico

Europe

Germany

Italy

France

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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Cancer segment holds the highest CAGR share by Application

On a segmental basis, fatigue and dysentery account for the major market share in 2021. The growth is attributed to the changing lifestyle, contaminated water, and environmental factors such as high temperatures. To overcome the symptoms of fatigue and dysentery, ORS solution is preferred, which contains sodium metal.

However, the cancer segment is estimated to showcase the highest CAGR during the forecast period. The surging prevalence of cancer will drive the segment’s growth. For instance, according to the International Agency for Research on Cancer (IARC), in 2018, about 17 million new cancer cases and 9.5 million cancer deaths were recorded globally, which is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths in 2040. Growing cancer cases requires effective medicine and treatment, and cancer medicines contain traces of platinum metal and others. Such factors will fuel the segment’s growth in the metal in medicine market.

Regional Analysis of Metal in Medicine Market

On a regional basis, North America has accounted for the major market share in 2021. The region's growth is attributed to the growing number of arthritis cases. For instance, according to the Centers for Disease Control and Prevention (CDC), approximately 1 in 4 USA adults, about 23.7% people have been diagnosed with arthritis. The prevalence of arthritis increases with age. By 2040, an estimated 78 million (26%) US adults aged 18 years or older are subjected to have doctor-diagnosed arthritis. The arthritis medicine contains gold and iron to manage the disease and related symptoms. Gold treatment help to relieve the pain due to active joint swelling and prevent future joint damage caused by swelling. Thus, growing chronic disease will foster the segmental market growth over the forecast period.

Key Market Players in the Global Metal in Medicine Market

Metal in medicine has a huge demand for catering to such needs and fulfilling the unmet demands of the end-users. Major market players are adopting various marketing tools to reach their potential customers. Market major players are as follows:

Cadila Pharmaceuticals Ltd.

Prometheus Laboratories Inc

IOL Chemicals

Bayer

Sanofi-Aventis

Apex Labs

Rakshit Pharmaceuticals Limited

Sun Pharmaceutical Industries Inc

Roxane Laboratories, Inc

Abraxis Pharmaceutical

Bristol Myers

Norbrook Laboratories Ltd

Others prominent players

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