Global Axitinib Market is expected to grow at a highly moderate CAGR in the forecast period. Axitinib is a small molecule developed by Pfizer. Clinically, it is a small molecule tyrosine kinase inhibitor shown to resist the growth of breast cancer cells. Axitinib also inhibits renal cell carcinoma and various other tumor types. The U.S Food and Drug Administration has approved this drug on inspection and considering its benefits.

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Commercially, the drug demonstrates multiple benefits in particular cases, but situations such as patients with hypertension and arterial and venous thromboembolic events need special attention while diagnosis with axitinib. Overall, the associated benefits enable its viability and it is a proven source of efficient diagnosis for cancer. Thus the market growth is expected to rise at a highly moderate CAGR during the forecast period.

Global Axitinib industry is driven by factors such as rising cases of cancers on a global scale. Additionally, changing lifestyle of consumers and growing prevalence of chronic illness leading to cell mutation is likely to propel the market growth in the forecast period. Moreover, rising cases of breast cancers in geriatric women in all parts of world is likely to be treated with axitinib since it inhibits the growth of breast cancer cells in women. However, high costs associated with treatment in such cases and extra precaution needed in patients with hypertension and arterial and venous thromboembolic events are likely to impede the market growth in the forecast period.

Global Axitinib industry geographically spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. North America dominates the global market in terms of value. Also, extensive research on cancer is expected to propel the market growth in the forecast period. European regions are expected to follow the trend.

APAC regions are anticipated to grow in the forecast period owing to extensive research and development in cancer and associated fields. Also, the rise in number of cancer patients and geriatric population adds to the market growth. Middle-East and African market are too expected to grow at a moderate CAGR in the forecast period owing to rising cases of cancer and growing medical infrastructure.

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