Global Dronabinol Market is Segmented By Type(Oral Liquid, Capsule, Others), By Application(Anti-Nausea, Analgesic, Stimulate Appetite, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Global Dronabinol Market is expected to reach at a high CAGR during the forecast period (2024-2031).
Dronabinol is a narcotic drug used to treat loss of appetite that causes weight loss in people with AIDS and is also used to treat severe nausea and vomiting caused by cancer chemotherapy.
Market Dynamics
The increasing prevalence of acquired immunodeficiency syndrome (AIDS) is driving market growth.
According to data by the Centers for Disease Control and Prevention (CDC), around 34,800 new HIV infections occurred in the United States, and 36,801 people received an HIV diagnosis in the United States and dependent areas. Moreover, MSM accounted for 69% of new HIV diagnoses in the United States, from 2015 through 2019 in the United States and six dependent areas, Black/African American MSM accounted for more than 36%, and White MSM accounted for more than 30% of HIV diagnoses among MSM annually. Additionally, in 2019, Black/African American MSM accounted for 26% (9,123) of new HIV diagnoses and 37.9% of diagnoses among all MSM. In 2019, Hispanic/Latinod MSM made up 22% (7,820) of new HIV diagnoses and 32.5% of all MSM diagnoses. Therefore, the demand for dronabinol increases due to which the market is expected to drive in the forecast period.
Side effects of dronabinol are expected to hamper the market growth
Currently, no studies are showing that CBD or nabilone increase anxiety or cause panic attacks, suggesting that these medications are safe for patients with anxiety disorders. However, THC and dronabinol are likely not safe drugs for these patients because they can induce anxiety and panic attacks depending on each patient's doses and individual predispositions. Therefore, cannabidiol and nabilone are the most promising cannabinoids in treating anxiety disorders, but the level of evidence for these drugs is still very low. Thus, THC, THC-CBD, and dronabinol seem to be ineffective and potentially harmful for subjects with anxiety disorders which is expected to hamper the market's growth.
Industry Analysis
PESTAnalysis:
COVID-19 Impact Analysis
The ongoing COVID-19 crisis has wreaked havoc on the global economy and has had widespread effects on various industries, including the dronabinol sector. The pandemic has led to the total number of AIDS deaths in the coming years. Moreover, with social distancing regulations being employed worldwide, the unprecedented changes to the supply and delivery of dronabinol are set to alter how people can access treatment significantly. Additionally, delivering services and significant reductions in research and clinical trial enrolment has become more stressful—furthermore, instability of production and supply chain interruption influence the expansion of the dronabinol market. Furthermore, as of May 2020, at least six clinical trials involving medical marijuana products have been suspended due to the COVID-19 crisis. It will delay the launch of new therapies for affected indications.
Market Segment Analysis
The oral liquid segment is expected to hold the largest market share in this market segment.
The oral liquid segment held the largest market share in 2020. Dronabinol is approved by the FDA in the United States to treat nausea associated with cancer chemotherapy and to treat anorexia associated with weight loss in AIDS patients. The FDA has also approved one cannabis-derived drug product: Epidiolex (cannabidiol), and three synthetic cannabis-related drug products: Marinol (dronabinol), Syndros (dronabinol), and Cesamet (nabilone) for the use and most importantly, the FDA has not approved any other cannabis, cannabis-derived, or cannabidiol (CBD) products currently. In addition, dronabinol oral solution formulation provides an easy-to-swallow administration option with lower intraindividual variability and more rapid absorption than dronabinol capsules.
Market Geographical Share
North America region holds the largest market share in the global dronabinol market.
North America accounted for the largest revenue share in 2020, due to the high prevalence of nausea associated with cancer chemotherapy and rising cases of anorexia. Chemotherapy-induced nausea and vomiting (CINV) are one of the most dreaded and distressing adverse events in cancer chemotherapy. Patients with lung cancer treated with carboplatin-based chemotherapy regimens usually experience chemotherapy-induced nausea and vomiting (CINV). Though, knowledge on the effect of regimen and cofactors on the risk of CINV is limited. The incidence of CINV happening from day 1 to day 7 after chemotherapy in both groups are as follows, nausea on days 1 and 2 was low and gradually increased, rising on days 4 and 5, followed by a gradual decline. The incidence of vomiting in the CBDCA+PTX group showed a similar pattern, whereas vomiting in the CBDCA+PEM group continued high after day 5. Kaplan–Meier curve of time to antiemetic treatment failure (TTF) in nausea. Moreover, Kaplan–Meier curves of time to nausea event according to each chemotherapeutic regimen showed no statistically significant difference between the two groups. Thus, it has increased the demand for the dronabinol drug, which is expected to hold the largest market share in the North American region in the forecast period.
Market Competitive Landscape
The dronabinol market is moderately competitive with the presence of several global companies. Some of the key players which are contributing to the growth of the market include LGC Group, Merck, Alfa Chemistry, Aurora Fine Chemicals, ZINC, ChemSpace, Avantor, ChemFaces and Insys. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the dronabinol market globally.
Key Companies to Watch
Alfa Chemistry:
Overview:
Alfa Chemistry is a global Contract Research Organization (CRO) headquartered in New York, USA. It has served the pharmaceutical and biotechnology industries for eight years. The company offers an extensive catalog of building blocks, reagents, catalysts, reference materials, and research chemicals in a wide range of applications. Moreover, it also provides analytical services and laboratory services to the customers. Since its inception, more than 300 different organizations from at least 40 countries worldwide have used Alfa Chemistry's products and services. Many of Alfa Chemistry's customers are pharmaceutical and biotechnology companies, including Pfizer, Novartis, Merck & Co., Johnson & Johnson, AstraZeneca, and Bayer.
Product Portfolio:
Alfa Chemistry is into continuous manufacturing of its chemistry products including 1,1-Dimethylheptyl-11-hydroxytetrahydrocannabinol, 1-O-Aminobutyl-9-tetrahydrocannabinol and Ethyl-delta-8-tetrahydrocannabinol.
