The global market for platinum-based highly-potent active pharmaceutical ingredients (HAPIs) is projected to reach more than US$37 billion by 2028.
Platinum-based HAPIs, for example Carboplatin, are chemical compounds used for the treatment of cancer, especially in combination therapies, where more than one medication at a time is used to target cancer cells at different points in the cell cycle.
These HAPIs can treat diseases such as lung cancer, colorectal cancer, ovarian cancer and testicular cancer. Demand for them in cancer treatment is rising as demographic change is resulting in an increased number of cancer patients, while access to chemotherapy treatment in emerging economies is improving. In addition, the growth of targeted therapies that specifically target cancer cells with little or no damage to healthy cells is a further driver of demand growth.
As a result, the current market availability of these vital ingredients is reaching its limits, which affects not only the pharmaceutical industry, but the healthcare systems as well, which depend on effective supply chains. In response, manufacturing capacity for platinum-based HAPIs is being expanded.
For example, Heraeus, a leading provider of precious metals services and products, has significantly built up its manufacturing capacity for platinum-based HAPIs in response to customer demand. The company has recently opened a new production line for platinum-based pharmaceutical ingredients at its headquarters in Hanau, Germany, following a multi-million Euro investment.
Carboplatin molecule
Platinum medical demand growth
Medical demand for platinum was temporarily impacted by the pandemic as healthcare efforts were focused on the treatment of COVID-19 patients, resulting in a reduction in cancer treatment and other procedures. Between 2019 and 2020, medical demand fell by 4 per cent from 249 koz to 239 koz.
The market recovered during 2021, growing by 4 per cent to 247 koz – close to the pre-pandemic level. This year, medical demand for platinum is forecast to exceed pre-pandemic levels, growing by 3 per cent year-on-year and 2 per cent when compared 2019, to 254 koz, as demand for platinum-based cancer treatments increases and surgical procedures, involving the use of platinum-containing devices, continue to rise.
