The global market for platinum-based highly-potent active pharmaceutical ingredients (HAPIs) is projected to reach more than $37-billion by 2028, industry body the World Platinum Investment Council says.

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, it explains.

These HAPIs can treat diseases such as lung, colorectal, ovarian and testicular cancer.

Demand for HAPIs 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, the council says.

Moreover, it notes that 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 healthcare systems as well, which depend on effective supply chains.

“In response, manufacturing capacity for platinum-based HAPIs is being expanded,” the council says.

It highlights precious metals services and products provider Heraeus as an example, as it has considerably 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 multimillion-euro investment.

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, explains the council.

Between 2019 and 2020, medical demand fell by 4% from 249 000 oz to 239 000 oz.

The market, however, recovered during 2021, growing by 4% to 247 000 oz – close to the pre-pandemic level.

This year, the council forecasts medical demand for platinum to exceed pre-pandemic levels, growing by 3% year-on-year and 2% when compared with 2019, to 254 000 oz, as demand for platinum-based cancer treatments increases and surgical procedures, involving the use of platinum-containing devices, continue to rise.