The global folinic acid market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). A folinic acid is a vitamin B-complex and is also known as calcium folinate and leucovorin. It is used in the combination with fluorouracil to control and prevent various types of cancers including head and neck, colorectal, and esophageal cancers among others. This folinic acid is additionally used for the treatment and management of megaloblastic anemia caused due to folic acid deficiency.
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The increasing prevalence of various types of cancer across the globe is the most dominant factor that is expected to drive the growth of the global folinic acid market during the forecast period. The significant rise in the applications of folinic acid in varieties of treatment including megaloblastic anemia, folate deficiency, and others are anticipated to drive the market growth. Additionally, the increasing number of manufacturing infrastructures for the production of folinic acid is further projected to create ample growth opportunities for the market during the forecast period.
Moreover, the key players present in the global folinic acid market include Pfizer Inc., Eli Lilly and Co., Hikma Pharmaceuticals plc, and others adopted various strategies, such as product launches, mergers & acquisitions, among others are some dominant strategic initiatives. For instance, in November 2021, the US Food and Drug Administration (FDA) approved On Target Laboratories, LLC, pafolacianine (Cytalux). It is used as an optical imaging agent, for adult patients with ovarian cancer as an adjunct for interoperative identification of malignant lesions.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape- Pfizer Inc., Eli Lilly and Co., Hikma Pharmaceuticals plc, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Folinic Acid Market Report Segment
By Type
o Injection
o Tablet
o Others
By Application
o Food and Beverage
o Pharmaceuticals
o Nutraceuticals
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