New York, July 12, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Doxorubicin Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Drug Formulation, Distribution Channel, and Geography," the report highlights trends prevailing in the market and factors driving its growth. The market's growth is attributed to the increasing prevalence of cancer and rising preference for chemotherapy. However, the potential side effects of doxorubicin are hindering the growth of the global doxorubicin market.
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Doxorubicin Market Report Scope & Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 1,390.64 Million in 2022 |
| Market Size Value by | US$ 1,983.40 Million by 2028 |
| Growth rate | CAGR of 6.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 199 |
| No. Tables | 86 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Drug Formulation, Application, and Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Doxorubicin Market: Competitive Landscape and Key Developments
Accord Healthcare, Cipla Inc., Dr. Reddy, Cadila Pharmaceuticals, Meiji Seika Pharma Co., Johnson & Johnson (Janssen Pharmaceutical), Novartis AG, Pfizer, Inc., Sun Pharmaceutical Industries Ltd., and Baxter International Inc. are the leading companies in the global doxorubicin market. The market is anticipated to flourish with the development of new innovative products by market players.
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- In August 2021, Pfizer acquired Trillium Therapeutics Inc. With next-generation, experimental immuno-therapeutics for hematological malignancies, the proposed purchase expands Pfizer's category leadership in oncology.
- In January 2018, the US Food and Drug Administration (US FDA) gave pharmaceutical giant Dr. Reddy's Laboratories Ltd the go-ahead to introduce doxorubicin hydrochloride liposome injection. The partnership on R&D and manufacturing capabilities with the company's partner, Natco Pharma Ltd., led to the US FDA approval.
North America is the largest market for doxorubicin, with the US holding the largest share of the regional market, followed by Canada and Mexico. The doxorubicin market in the US is expected to grow in the coming years with the rising incidence of a high number of individuals with different malignant tumors, increasing product launches, and growing R&D expenditure. The use of the drug during the chemotherapy treatment is high in the region, in mono and combination chemotherapies, as cancer is one of the significant health issues in the US. For instance, as per the United States Cancer Statistics (USCS) provided by the Centers for Disease Control and Prevention (CDC), in the United States, in 2019, 1,752,735 new cases of cancer were recorded, while 599,589 were mortalities from the disease. In effect to rising cancer cases, the growing incidence and mortality rate is the primary factor generating demand for doxorubicin.
To fulfill the demand, several new anticancer products for treating various types of tumors are now being developed. For instance, in October 2021, Padagis and Ayana Pharma Ltd. collaborated to announce the FDA's approval and the release of an AB-rated generic version of Doxil (Doxorubicin Liposome Injection). The US is an established country with a technologically advanced pharmaceutical market. The high budget allocation to human drugs is another factor driving the market growth. For instance, as per the data published by the US FDA in November 2021, human drug regulatory activities accounted for the highest budget allocation (33%) of the FDA's budget (US$ 6.1 billion). The supportive environment in the US accelerates the growth of the development and commercialization of pharmaceutical and biopharmaceutical products. Thus, the growing product launches for various cancer studies in the pharmaceutical and biopharmaceutical industries will boost the doxorubicin market and create new opportunities in the US during the forecast period.
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Increasing Prevalence of Cancer to Influence Doxorubicin Market
Cancer is a leading cause of death globally. According to the World Health Organization (WHO), cancer was the first leading cause of death in people below 70 years in 183 countries and the fourth major cause of death among the population of all ages in 123 countries worldwide in 2019. In addition, as per the data published by the WHO in March 2021, different cancer types will have caused ~10 million deaths in 2020. The increasing prevalence of cancer has burdened healthcare systems worldwide, bolstering the demand for chemotherapy. Doxorubicin is one of the primary drugs used as first-line treatment in chemotherapy. The drug is used to induce regression in disseminated neoplastic diseases like breast, ovarian, transitional cell bladder, thyroid, gastric, acute lymphoblastic leukemia, acute myeloblastic leukemia, Wilms' tumor, neuroblastoma, soft tissue, and bone sarcomas, Hodgkin's disease, malignant lymphoma, and bronchogenic carcinomas, in which the small cell histologic type. The drug is also recommended as adjuvant therapy in women who have had primary breast cancer removed and have axillary lymph node involvement. Although there may be a decline in the overall cancer mortality rate, certain types of cancer are on the rise. For Instance: According to Cancer Statistics, 2022, published in the American Cancer Society's journal, data from 2015 to 2019 indicated a 0.5% annual increase in female breast cancer. At the same time, the incidence of prostate cancer remained stable. Thus, the increasing number of cancer patients worldwide is projected to drive global doxorubicin market growth.
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Global Doxorubicin Market: Segmental Overview
Based on drug formulation, the global doxorubicin market is bifurcated into lyophilized powder and doxorubicin injection. In 2022, the lyophilized powder segment will hold a larger market share. Moreover, the same segment is expected to register the highest CAGR from 2022 to 2028.
Based on application, the global doxorubicin market is segmented into lung cancer, sarcoma, breast cancer, multiple myeloma, ovarian cancer, kidney cancer, leukemia, liver cancer, and others. The breast cancer segment will hold the largest share of the market in 2022. However, the kidney cancer segment is anticipated to register the highest CAGR during the forecast period.
Based on the distribution channel, the global doxorubicin market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment will hold the largest share of the market in 2022. However, the retail pharmacy segment is anticipated to register the highest CAGR during the forecast period.
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Browse Adjoining Reports:
Liposomal Doxorubicin Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product Type (JandJ (Doxil/Caelyx), Sun Pharma (Lipodox), Teva (Myocet), Others); Application (Bone Sarcoma, Breast Cancer, Endometrial Cancer, Gastric Cancer, Kaposi Sarcoma, Kidney Cancer, Leukemia, Liver Cancer, Multiple Myeloma, Other Applications, Ovarian Cancer)
Liposomes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Simple Liposomes, Formulated Liposomes, Vaccines); Application (Drug Delivery, Gene Delivery/Transfection, Contrast Agents for Medical Imaging, Model Cell Membranes); Distribution Channel (Retail Sales, Distributional Sales); and Geography
Liposome Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Liposomal Doxorubicin, Liposomal Paclitaxel, Liposomal Amphotericin B, Others); Technology ( Stealth Liposome Technology, Non-PEGylated Liposome Technology, DepoFoam Liposome Technology, Lysolipid Thermally Sensitive Liposome (LTSL)); Application (Fungal Diseases, Cancer Therapy, Pain Management, Viral Vaccines, Photodynamic Therapy)
Gamma Globulin Market Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Injection, Lyophilized powder); Application (Neurological and neuromuscular disease treatment, Central nervous system disease treatment, Peripheral nerves disease treatment, Neuromuscular junction and muscles disease treatment); and Geography
Liver Cancer Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Laboratory Tests, Endoscopy, Imaging, Biopsy, and Others) and End User (Hospitals and Diagnostic Laboratories, Academic and Research Institutes, and CRO Laboratories)
Ovarian Cancer Drugs Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Drug Class (Alkylating Agents, Mitotic Inhibitors, Antirheumatics, Antipsoriatics, VEGF/VEGFR Inhibitors, PARP Inhibitors, Others); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Geography
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