PUBLISHER: The Business Research Company | PRODUCT CODE: 1427785
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427785
Doxorubicin, a potent chemotherapy medication, falls under the class of drugs known as anthracyclines. It operates by disrupting the synthesis of DNA and RNA in cancer cells, hindering their growth and division. This drug is employed in the chemotherapy treatment of various cancer types.
Doxorubicin is available in two main forms lyophilized powder and doxorubicin injection. Lyophilized doxorubicin powder denotes a freeze-dried version of the chemotherapy drug, where the water content has been removed. Lyophilization is utilized to enhance preservation, ensuring the drug's stability and longevity. These formulations find application in the treatment of breast cancer, kidney cancer, liver cancer, sarcoma, ovarian cancer, lung cancer, leukemia, multiple myeloma, among others, and are accessible through hospital pharmacies, retail pharmacies, and online pharmacies.
The doxorubicin market research report is one of a series of new reports from The Business Research Company that provides doxorubicin market statistics, including the doxorubicin industry's global market size, regional shares, competitors with a doxorubicin market share, detailed doxorubicin market segments, market trends, and opportunities, and any further data you may need to thrive in the doxorubicin industry. This doxorubicin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The doxorubicin market size has grown strongly in recent years. It will grow from $1.23 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historical period can be ascribed to advancements in chemotherapy, adherence to oncology treatment standards, clinical effectiveness, increased rates of patient survival, and recommendations from physicians.
The doxorubicin market size is expected to see strong growth in the next few years. It will grow to $1.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to advancements in personalized medicine, the development of targeted drug delivery systems, combinations of immunotherapy, ongoing research in genomics and biomarkers, and the expansion of precision oncology. Major trends expected in the forecast period include the integration of nanotechnology, emphasis on combination therapies, expansion of the biosimilar market, focus on adjuvant therapy, and interventions for cardioprotection.
The increasing prevalence of cancer is propelling the doxorubicin market forward. Cancer, characterized by abnormal and uncontrolled cell growth, is a group of diseases that necessitates chemotherapy, where doxorubicin, a common antibiotic, is employed to treat various cancer types by impairing the DNA of cancer cells. The surge in cancer incidence has resulted in a heightened demand for doxorubicin. For example, the 2021 American Cancer Society report revealed 1.8 million new cancer cases diagnosed in 2020. Additionally, data from September 2020 by the National Cancer Institute indicated 1,806,590 new cancer cases, constituting 43% of all cancer diagnoses in men in the United States in 2020, up from 1,752,735 in the previous year, 2019. Hence, the growing prevalence of cancer patients is a driving force for the doxorubicin market.
The increase in genetic disorders is anticipated to drive the growth of the doxorubicin market in the future. Newborn screening, a procedure that assesses all newborns shortly after birth for specific health conditions, plays a crucial role in identifying and addressing health needs early on. Doxorubicin can be utilized in preventive measures for infants identified as high-risk for developing breast and ovarian cancer through newborn screening. In 2022, the Texas Department of State Health Services reported a 4.3% increase in specimens received for newborn screening, rising from 729,347 in 2021 to 761,000 in 2022. Moreover, 394,000 babies were screened, with 1,130 babies found to be affected by one of the NBS disorders in 2022. Thus, the surge in genetic disorders is contributing to the growth of the doxorubicin market.
Advancements in drug investigation represent a prominent trend gaining traction in the doxorubicin market. Leading companies within the doxorubicin market are actively engaged in developing cutting-edge technologies to introduce advanced products such as injections, aiming to fortify their market position. An illustrative example is the approval granted to Padagis, a US-based healthcare company, for its AB-rated generic version of Doxil (Doxorubicin Liposome Injection) by the US Food and Drug Administration in October 2021. This anthracycline topoisomerase inhibitor is utilized in the treatment of ovarian cancer, sarcoma, multiple myeloma, and in conjunction with bortezomib for multiple myeloma treatment. Doxorubicin liposome acts as an antineoplastic agent.
Major players in the doxorubicin market are strategically focusing on innovative drug development to enhance their market standing. Notably, in May 2023, Dr. Reddy's Laboratories, an India-based pharmaceutical company, received approval from the US Food and Drug Administration (FDA) for the launch of Doxorubicin Hydrochloride Liposome Injection in the US market. This treatment targets ovarian and breast cancer, providing patients with a new therapeutic option. The approval process involved pre-clinical studies, clinical trials, and the submission of a New Drug Application (NDA) to the FDA to demonstrate the drug's safety and efficacy.
In November 2021, Pfizer Inc., a US-based multinational biopharmaceuticals company, acquired Trillium Therapeutics in an undisclosed deal. This strategic acquisition expanded Pfizer's portfolio with a clinical-stage range of oncology drugs, reinforcing its presence in the field of oncology. Trillium Therapeutics, based in Canada, specializes in the development of clinical-stage doxorubicin-based drug therapies for hematological malignancies.
Major companies operating in the doxorubicin market report are Pfizer Inc., Johnson and Johnson, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Hospira Inc., Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals, Mylan Pharmaceuticals Inc., VHB Life Sciences Limited, Xi'an International Healthcare Factory Co. Ltd., Accord Healthcare Ltd., TTY Biopharm Company Limited, Cadila Pharmaceuticals, Neon Laboratories Limited, APP Pharmaceuticals Manufacturing LLC, Sun Pharmaceutical Industries Ltd., Transo-Pharm Handels GmbH, LGM Pharma, Zhejiang Hisun Pharma, Actavis Pharma, Celon Laboratories Limited, Samarth Life Sciences Pvt. Ltd
North America was the largest region in the doxorubicin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the doxorubicin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the doxorubicin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The doxorubicin market consists of sales of doxorubicin hydrochloride injections, adriamycin, doxil, myocet. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Doxorubicin Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on doxorubicin market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for doxorubicin ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The doxorubicin market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.