NEWARK, Del, July 03, 2024 (GLOBE NEWSWIRE) -- The liposomal doxorubicin market is estimated to be worth USD 1,281.3 Million in 2024 and is projected to be valued at USD 2,367.5 Million in 2034. Between 2024 and 2034, the industry is expected to register a growth rate of 6.3%. The increasing prevalence of diverse cancer types, such as breast cancer, ovarian cancer, and Kaposi's sarcoma, is a key factor driving the demand for potent chemotherapy medications like liposomal doxorubicin.
The anticipated growth in the sales of liposomal doxorubicin is influenced by pivotal factors, including the contemporary lifestyle characterized by fast-paced routines and unhealthy dietary habits, leading to a spectrum of health concerns over the forecasted period. Anticipated drivers set to propel the expansion of the liposomal doxorubicin market include the growing utilization of chemotherapy treatments, heightened demand for targeted therapy drugs, and augmented investments by private firms dedicated to addressing this specific application.
The formulation of liposomal doxorubicin, encapsulating the drug within liposomes, is designed to revolutionize drug delivery. Progress in drug delivery technologies plays a pivotal role in augmenting the drug's effectiveness, minimizing adverse effects, and ultimately improving overall patient outcomes. Regulatory approvals for the use of liposomal doxorubicin in various cancer indications can significantly influence market growth. Expanding the approved indications broadens the potential patient population.
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Over the projected period, the liposomal doxorubicin market is poised for new growth opportunities driven by innovations and research and development endeavours. The anticipated expansion of healthcare infrastructure is projected to be a significant catalyst, fostering increased demand for liposomal doxorubicin in the coming years.
Key Takeaways from the Liposomal Doxorubicin Market:
- From 2019 to 2023, the liposomal doxorubicin market was valued at a CAGR of 4.8%
- Based on Type, the branded segment is expected to account for a share of 87.4% in 2023.
- Global liposomal doxorubicin demand in the United States is predicted to account for a CAGR of 5.6% through 2034.
- In the United Kingdom, the liposomal doxorubicin industry is expected to account for a CAGR of 6.4% between 2024 and 2034.
- Germany is projected to expand by a value CAGR of 7.0% between 2024 and 2034.
- By 2034, the liposomal doxorubicin market in Canada is anticipated to record a CAGR of 7.1% during the forecast period.
“The increasing demand for advanced and targeted chemotherapy options, particularly in the treatment of various cancers are anticipated to drive the market growth during the forecast period," says a Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Which Segment is likely to Lead the Liposomal Doxorubicin Market by Application?
By application, the liver cancer segment consumes most of the liposomal doxorubicin market, which thrives on a CAGR of 4.8% between 2022 and 2032. Factors driving the high sales of this segment are the greater easy availability, high use of the drug in the treatment of liver cancer, high success rate, and rising effective use.
Liver cancer is also a growing cancer type among men and women, increasing the high health effects. Liposomal doxorubicin helps in the treatment and allows doctors to have better control over its quantity.
Liposomal Doxorubicin Market Competitive landscape:
The competitive dynamics within the liposomal doxorubicin market, situated in the pharmaceutical industry, are characterized by constant evolution and significant capital investments. Companies actively engage in collaborations and mergers, reinforcing their market presence, broadening distribution channels, and expanding manufacturing capabilities.
- GlaxoSmithKline plc is involved in the research and development of a variety of drugs, including those in the oncology space. GSK's participation in the liposomal doxorubicin market reflects its commitment to advancing treatment options for cancer patients.
- Sanofi is a global pharmaceutical company involved in the research, development, manufacturing, and marketing of various healthcare products. In the oncology sector, Sanofi may contribute to the liposomal doxorubicin market with a focus on therapeutic innovations.
Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global liposomal doxorubicin market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.
To understand opportunities in the liposomal doxorubicin market, the report is segmented based on type (Branded, Generic) By Application (Breast Cancer, Ovarian Cancer, AIDS-related Kaposi's Sarcoma, Multiple Myeloma, Other Solid Tumors) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).
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What are the Key Dynamics Governing the Growth of the Liposomal Doxorubicin Market?
The demand for liposomal doxorubicin is high as it is a medicine used to treat cancer, Kaposi Sarcoma, and a variety of other diseases. The global liposomal doxorubicin market share is expected to grow due to rising cancer incidence, the development of technologically sophisticated drug delivery methods, increased patient awareness, and rising disposable incomes.
Following the failure of prior systemic chemotherapy for ovarian cancer and AIDS-related Kaposi's sarcoma, the sales of liposomal doxorubicin are expected to rise dramatically. Another factor driving the demand for liposomal doxorubicin is the rising number of cases of hepatocellular carcinoma and rising survival rates.
The liposomal doxorubicin market size is growing as people become more aware of the various cancer treatment options available. Innovations enable site-specific drug delivery and regulated drug release in the body.
Other factors expected to fuel the sales of liposomal doxorubicin include considerable improvements in healthcare infrastructure, particularly in developing economies, as well as extensive research and development (R&D) initiatives in the field of oncology.
The FDA approved a generic version of liposomal doxorubicin formulation for second-line treatment of ovarian cancer and chemotherapy routine for various cancers to address the lack of branded liposomal doxorubicin, such as Doxil or Caelyx. This factor had a significant impact on the sales of liposomal doxorubicin.
In addition, in the USA, which is the largest market for liposomal doxorubicin formulation, the import of the medicine was permitted under exercise enforcement discretion. The rising demand for liposomal doxorubicin has resulted in a significant increase in the importation of doxorubicin HCl liposome injections, which is projected to propel the liposomal doxorubicin market size forward
Key players operating in the Liposomal Doxorubicin Market are:
- Cadila Pharmaceuticals
- Cipla Limited
- GlaxoSmithKline plc.
- Johnson & Johnson Services Inc.
- Merck & Co.
- Pfizer Inc.
- Sanofi
- Sigma-Aldrich Co.
- SRS Pharmaceuticals Pvt. Ltd.
- Sun Pharmaceutical Industries Ltd.
Liposomal Doxorubicin Market – Key Segments
By Type:
- Branded
- Generic
By Application:
- Breast Cancer
- Ovarian Cancer
- AIDS-related Kaposi's Sarcoma
- Multiple Myeloma
- Other Solid Tumors
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Mail-Order Pharmacies
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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